Founder and CEO of Zappos, Tony Hsieh, wasn’t just known for his amazing company. Hsieh cared deeply for his business and his employees and left behind a legacy of compassion and kindness in the wake of his tragic death late last year. But Hsieh left something else behind; an impressive real estate empire, spanning nearly 100 properties in the Las Vegas area alone. Now, Hsieh’s family is looking to sell most of those properties as the default executors of his estate without a will.
Hsieh Was Revitalizing Urban Landmarks
One thing Hsieh was passionate about was reviving urban centers and making them available and functional for everyone. At the time of his death, Hsieh was deep in projects in both Las Vegas and Park City, Utah. Buying properties by the handful, Hsieh hoped to transform these downtown areas into vibrant and functional landmarks.
The Las Vegas Review-Journal shares, “Neon Public Relations founder Megan Fazio said in an emailed statement to the Review-Journal on behalf of Hsieh’s estate that since he died in November, it has ‘received an immense amount of interest in finding ways to expand on Tony’s vision in revitalizing downtown Las Vegas through community efforts.’
She added that as Las Vegas begins to ‘overcome the economic interruption caused by the pandemic,’ and given downtown’s location in a tax-incentive Opportunity Zone, ‘the time is ripe for the estate to consider all options to further implement Tony’s vision.’
The estate has been advised that all potential transactions of its real estate must be submitted to the court first, and it opted to file ‘all of its real estate holdings at this time and invite all the interested parties to articulate how they may contribute to the expansion of Tony’s vision,’ Fazio said.”
Hsieh’s Family Looking to Sell Properties
When Hsieh died from complications due to smoke inhalation from a house fire, he left no will behind. As he was unmarried with no children, Hsieh’s family became the default executors of his estate. Now, they’re looking to sell off the majority of the former Zappos boss’s properties, freeing the locations to be bought by those interested in furthering Tony’s vision for downtown Las Vegas.
Fox Business reports, “Richard and Andrew Hsieh, Tony’s father and brother, respectively, have notified the Clark County District Court of plans to sell his nearly 100 properties in Vegas, the Las Vegas Review-Journal reported, citing the 90-plus court notices Wednesday. The Hsiehs were granted administrative control of Tony Hiseh’s estate following his November 2020 death.”
Tony’s Death Left a Void
Hsieh’s untimely death didn’t just stall his projects, it left behind a void in the lives of those closest to him. Although Hsieh was troubled and abused substances to escape an always-churning mind, he was also gregarious, warm, and beloved. Even former employees had nothing but good things to say about the former Zappos CEO, often fondly remembering how he treated everyone like family.
After Hsieh’s death shocked his loved ones, they were left with nothing but questions and a massive empire to process. Between Hsieh’s finances and his extensive real estate empire, he left behind a lot of empty places that now need new futures. But Hsieh’s vision was clear; he wanted to take these properties and make them something beautiful. One can only hope that those who come behind him will do the same.
In a statement released shortly after Hsieh’s death, his family remembered Tony’s vision and the legacy he was leaving behind; “‘Tony was extremely accomplished in both his personal and professional lives, his parents are most proud of how he turned out as a human being. He had true compassion and an endless desire to elevate everyone around him. He would often refer to himself as the caboose, because everyone else came first.
Happiness, the statement said, was one of Hsieh’s most invaluable gifts to the world.
‘The Hsieh family hopes to carry on Tony’s legacy by spreading the tenets he lived by — finding joy through meaningful life experience, inspiring and helping others, and most of all, delivering happiness.’”