Introduction
Mark Mastrov is a fitness mogul who has gained tremendous success over the years. He is the founder of 24 Hour Fitness, one of the largest fitness chains in the world, and has a net worth of over $300 million. He has also invested in various other businesses such as the Sacramento Kings basketball team and the UFC Gym franchise. In this blog post, we will explore Mark Mastrov’s net worth and how he built his fortune.
Early Years
Mark Mastrov was born on October 10, 1958, in Oakland, California. He attended California State University, Sacramento, where he earned a degree in Business Administration. He started working at a health club while studying, and that’s where his passion for fitness began.
Founding of 24 Hour Fitness
In 1983, Mark Mastrov founded 24 Hour Fitness with Leonard Schlemm. They opened their first club in San Leandro, California. Within a few years, they expanded to other states and eventually grew into a chain of over 400 clubs worldwide. 24 Hour Fitness became one of the largest privately-owned fitness chains in the world, with revenues exceeding $1.5 billion.
Investments
Aside from 24 Hour Fitness, Mark Mastrov has invested in various other businesses. In 2010, he became a co-owner of the Sacramento Kings, a professional basketball team. He also invested in the UFC Gym franchise, which offers mixed martial arts classes and fitness facilities. In 2017, he became a chairman of the Visionary Private Equity Group, which invests in technology and healthcare companies.
Philanthropy
Mark Mastrov is also involved in philanthropic activities. He has donated to various charities such as the Make-A-Wish Foundation and the American Heart Association. He also established the Mastrov Family Foundation, which supports education and health initiatives.
Recognition
Mark Mastrov’s success has not gone unnoticed. He has received numerous awards and recognition for his contributions to the fitness industry. In 2015, he was inducted into the Club Industry Hall of Fame for his pioneering work in club ownership.
Real Estate Ventures
Mark Mastrov has also ventured into real estate. He has invested in various residential and commercial properties, including a luxury resort in Belize. In 2020, he purchased a mansion in the exclusive Beverly Park gated community for $28 million.
Current Affairs
Today, Mark Mastrov continues to be active in the fitness industry. He is the co-founder of Fitness SF, a high-end fitness club in San Francisco. He is also an advisor to Retrofit, a weight-loss program that uses technology and personalized coaching.
Conclusion
Mark Mastrov’s net worth is a testament to his hard work and dedication. He has built a successful career in the fitness industry and has diversified his investments to other ventures. His philanthropic efforts and contributions to the community also make him a role model for others.
FAQs
Q. What is Mark Mastrov’s net worth?
Mark Mastrov’s net worth is over $300 million.
Q. What is 24 Hour Fitness?
24 Hour Fitness is a fitness chain founded by Mark Mastrov and Leonard Schlemm in 1983. It has over 400 clubs worldwide.
Q. What investments has Mark Mastrov made?
Mark Mastrov has invested in various businesses, including the Sacramento Kings, the UFC Gym franchise, and the Visionary Private Equity Group.
Q. What philanthropic activities is Mark Mastrov involved in?
Mark Mastrov has donated to various charities and established the Mastrov Family Foundation, which supports education and health initiatives.
Q. What real estate ventures has Mark Mastrov ventured into?
Mark Mastrov has invested in various residential and commercial properties, including a luxury resort in Belize and a mansion in the exclusive Beverly Park gated community.