Today we will discuss the net worth and life of Adam Weitsman. Adam Weitsman is an American entrepreneur who is the founder and CEO of the scrap processing and recycling company Upstate Shredding – Weitsman Recycling. The company’s headquarters are at Owego, New York, the same town where Adam was born and brought up. Found in 1996, Upstate Shredding began its operations in Owego. It now operates yards at 13 different locations. It is the largest privately-owned company of its kind on the East Coast.
In this ever-transforming world, new ideas and solutions for existing issues and inconveniences have become a necessity now. Entrepreneurs fulfill this role on a large scale. Almost everyone in their youth nowadays has thought of being one and launching a startup. This reflects the rapid pace at which the entrepreneurial environment is expanding. Let’s talk about the net worth and other details of Adam Weitsman.
Adam Weitsman Net Worth
The net worth of the entrepreneur is estimated to be around $1.2 billion. This shouldn’t come as a surprise due as he is the owner of one of the largest scrap processing companies in the States. Upstate Shredding generates revenue to the tune of $750 million a year. Adam derives the majority of his earnings from the company. His other venture is in the construction of a Mexican restaurant in Skaneateles. His real estate investments also add to his net worth.
Adam Weitsman has a lot of celebrity connections and is quite active on the social media platform Instagram. He has posted pictures with celebrated boxer Floyd Mayweather, Anthony Carmelo’s basketball player Alec and Daniel’s actors from the Baldwin brothers. Weitsman has also posted on Facebook a picture of Justin Bieber and Hailey Baldwin with his daughter, Clover, at his own restaurant, The Krebs.
Story of Upstate Shredding
In the early 1990s, Adam Weitsman saw his sister meet her demise by fighting cancer. As a result, he quit his career in New York and returned to his hometown. There he would support his father with their family’s scrap metal business. Weitsman found the processing side of scrap metal recycling interesting, and this interest would later lead him to find Upstate Shredding. In 1997, he opened a 17-acre site at the Tioga County Industrial Park, Owego. The site had three buildings outfitted with the latest scrap metal handling and processing equipment.
The company was originally an auto parts business with a small scrap yard, and it had been passed down in the family. It was in the year 2009 that Upstate Shredding expanded its operations to Syracuse, New York. The following years up till 2014 saw the aggressive expansion of their operations in various locations across the East Coast. The company produces clean scrap metal commodities. After that, these are sold to foundries, mills, and manufacturers domestically and globally. New products are made by reprocessing the scrap metal commodities.
Adam Weitsman Personal life and achievements
Adam Joel Weitsman was born on June 13, 1968. He married Kim Weitsman in 2006. The pair had met in 2000. Kim DeFrance left her modeling career in 2004 to become an operations manager for Upstate Shredding. Clover, Monroe, and Rae are their daughters. Adam is a zealous art collector. However, he seems to have caught this zeal after his father and granddad had discovered 2 American stoneware bottles in their scrap yard.
The entrepreneur is a philanthropist at heart. Adam Weitsman has supported the local community by donating millions of dollars to charities and other causes. He donates all of the net profits of one of his restaurants, The Krebs to local women and children charities in New York. Recently, Adam gave $175,000 to an organization that is very close to his heart, the Boys & Girls Club. Being environment-friendly is a big concern for Adam. As a result, he is in constant contact with the NYSDEC and the US EPA.
Adam’s company has received some international and domestic awards. In 2014, it won the Platts Industry Leadership Award. It also won the AMM Scrap Company of the Year award in 2015. The company won the AMM award for a second consecutive year in 2016. The same year, Upstate Shredding won the Platts Global Scrap Company of the Year (worldwide) award.