Jay Bloom Net Worth: How the Billionaire Investor Built His Fortune

Jay Bloom is an American investor and real estate developer who has a net worth of $1.35 billion as of August 2023. He is known for his involvement in the OceanGate Titanic sub incident, his helicopter flights, and his real estate deals. In this article, we will explore how Jay Bloom made his money, what are his current projects, and what are his future plans.

From Pet Insurance to Helicopter Services

Jay Bloom started his entrepreneurial journey by launching a business named Pet Assure Inc. in 1995. It was a PPO network for companion animals that offered discounts on veterinary services. He sold the pet insurance as an employee benefit through payroll deduction and as a credit card enhancement. He managed to sign up 2,200 veterinary offices and over 100,000 pet owners.

However, Jay Bloom was not satisfied with his pet insurance business. He wanted to pursue his passion for flying. He obtained a helicopter pilot’s license and bought his first helicopter. He then expanded his fleet to seven helicopters and offered transportation services for elite customers. He also moved into lower-budget, short rides for a wider range of customers, using a helipad in New Jersey. He made three times more profit by providing thrilling experiences of take off and landing.

Jay Bloom’s helicopter business was affected by the September 11 attacks, which increased security and regulations for air travel. He decided to sell his helicopters and look for other opportunities.

From Real Estate to Data Centers

Jay Bloom’s next venture was in real estate. He partnered with Kodak and started a company that bought distressed properties and converted them into affordable housing units. He also invested in luxury hotels and resorts in Las Vegas, Hawaii, and the Caribbean. He made hundreds of millions of dollars from his real estate deals.

One of his most notable real estate projects was the purchase of delinquent liens on HOA properties in Nevada. He used a little-known Nevada law that allowed him to foreclose and take ownership of the properties while eliminating the lender’s mortgage. He formed a company called First 100, which acquired thousands of properties at a fraction of their market value.

Jay Bloom’s current focus is on data centers. He is the founder and CEO of Pegasus Group Holdings, a holding company that owns and operates data center ecosystems that use renewable energy. He is also the owner of the largest solar-powered data center in the world, located in Mohave County, Arizona. The data center provides services for medical companies, cryptocurrency miners, and other clients who need high-performance computing and data storage solutions.

From Titanic to Police Chase

Jay Bloom is not only a businessman, but also an adventurer. He is one of the investors of OceanGate, a company that offers submersible expeditions to the Titanic wreck site. He was supposed to go on the trip to the Titanic in 2023, but he decided to drop off the plan last minute. The seat was later occupied by Shahzada Dawood and Suleman Dawood, who became the first Pakistanis to visit the Titanic.

Jay Bloom is also the founder of Police Chase Las Vegas, a venture that gives participants the chance to experience a simulated police chase. Located at the Las Vegas Motor Speedway, Police Chase Las Vegas allows customers to drive or ride in a police car or a getaway car and engage in a high-speed pursuit. The venture is based on Jay Bloom’s own thrilling experience of riding in a police chase.

Conclusion

Jay Bloom is a billionaire investor and real estate developer who has a net worth of $1.35 billion. He has built his fortune through various businesses and investments, ranging from pet insurance to data centers. He is also an avid flyer and an adventurer, who has participated in helicopter flights, Titanic expeditions, and police chases. He is always looking for new ways to expand his portfolio and pursue his passions. He is a true example of a self-made entrepreneur who never stops learning and evolving.

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