Michael Cline, famously known as the founder and Chairman of Fandango, has recently passed away at the age of 64. He reportedly took his life by jumping from The Kimberly Hotel’s 20th floor in Manhattan.
While leaving the living world, he left millions to his wife, Pamela Cline, and their six children. According to Benzinga reports, Michael Cline had an estimated net worth of $80.3 million at the time of his passing.
Fandango founder J. Michael Cline dead at 64 after jumping from NYC hotel https://t.co/I5ppR6gwwG pic.twitter.com/XZE8cXBJn4
— Page Six (@PageSix) July 18, 2024
Benzinga further stated that Michael’s calculated net amount is based on his fair share in several companies, such as EXULT INC, Trepont Acquisition Corp I, MANUGISTICS GROUP INC, Accolade, Inc., and Accretive Health, Inc.
Well Michael started his career in January 1982, and since then, he has held higher positions in several high-profile companies and founded many others.
Michael Cline’s millions wealth is the outcome of his four-decade-career
After graduating with a BS in entrepreneurism from Cornell University, Michael Cline founded Penguin Warmups in January 1982 in New York and worked as a Chief Executive Officer for a year.
After that, he joined McKinsey & Company in Greater New York City as an associate. He worked there for two years, from August 1981 to July 1983.
Subsequently, Michael worked as a summer associate at Goldman Sachs, as a Vice President of marketing at American Management Company, and then partnered with General Atlantic. In 1998, he founded Xchanging and served as Chairman for three years.
Fandango Founder J. Michael Cline Dies After Falling From New York Hotel https://t.co/hgesjxHFOp
— Variety (@Variety) July 18, 2024
Then, between 1998 and 2023, he established several other companies, such as Exult, Fandango, R1 RCM, Accumen Inc., Everspri ng Inc., Insureon, Dresr, Accolade, Inc., Acretive, and Stealth Mode Startup Company.
According to sources, the founder of the United States earns an average salary of $329,381 annually. That means that in 25 years, Michael has amassed more than $8 million, and that’s only his raw salary earnings as a founder.
He was also a board member and X-Chairman of the National Fish and Wildlife Foundation for almost a decade. Similarly, Michael was an executive chairman of Juxtapose for more than half a decade.
With such a larger-than-life career, it’s no wonder that Michael Cline accumulated a net worth of $80.3 million.
Michael Cline was an owner of a $21 million property in Florida with his wife, Pamela!
According to Palm Beach Daily News, Michael Cline and his wife had bought a $20.75 million property in Florida in 2020. Before this, they also had a vacation home worth $9.22 million in Palm Beach, which they sold.
Well, Michael and his wife Pamela have invested quite a lot. They also had multi-million dollar mansions in Hamptons and Greenwich, Connecticut, eventually making them one of the wealthiest duos in the state.
J. Michael Cline Dies In Fall From Midtown Manhattan Hotel Suite: Fandango Founder Was 64 https://t.co/WbMNFnG3Yn
— Deadline Hollywood (@DEADLINE) July 18, 2024
With such wealth, they undoubtedly had a luxurious lifestyle, but despite having so much, the Cline family lost everything in the blink of an eye following Michael’s passing.
What to say further: The Mom magazine family expressed deep condolences to the grieving family. May the passing soul rest in paradise, and may God grant the family the strength to overcome a difficult situation.
Additional Information
- Michael Cline graduated from Harvard Business School in 1985 with a master’s in business administration. His full name is J. Michael Cline.
- He married his wife Pamela in 1995 and welcomed six children over two decades of marriage.
- During COVID-19, Michael’s business suffered a loss. However, he later bounced back. Since he founded many companies, people have described him as a serial entrepreneur.
