Chuck Kuhn Net Worth: Chuck Kuhn, Sterling-based JK Moving Services president and one of the most successful land speculators in Loudoun County, had a solid July 30. Kuhn affiliate 41992 John Mosby Highway LLC sold 90 undeveloped acres in Arcola, previously owned by the Inova Health System Foundation, to Colorado-based NOVA WPC LLC on that day for $98.67 million, or around $1.1 million an acre, according to public records. Kuhn acquired the exact property for $20 million in June 2018. In 13 months, he quintupled his cash without building a thing.
That Colorado LLC sold the property to Vadata Inc., an Amazon.com Inc. affiliate, for $116.4 million, per Loudoun records, on the same July day. According to sources familiar with the contract, NOVA WPC LLC is a Colorado-based White Peaks Capital affiliate.
The higher price paid by Amazon presumably represents site work on the raw land that needs to be done. At this point, Kuhn is accustomed to turning big profits on land in data centers. A 39-acre tract on Route 606 was acquired for $12.5 million by Kuhn and D.C.-based DBT Development Company across from the car auction in 2016.
It is no secret that Chuck Kuhn has a net worth of $4 million. He was born in the United States and attended the University of Illinois at Urbana-Champaign, where he earned his bachelor’s degree. After graduating, Chuck Kuhn worked for IBM as an engineer until 1975, when he started Synapse Design Automation, Inc., which was later renamed Cadence Design Systems. Chuck Kuhn has been employed by two Fortune 500 companies and continues to work as chairman emeritus at Cadence Design Systems today.
Chuck Kuhn is a well-known entrepreneur from America. According to Forbes, Chuck is the founder of Home Depot and has an estimated net worth of 2.4 billion dollars as of March 2017. The next question you might ask yourself is: how did Chuck make his money? So let’s dive in!
How rich is Chuck Kuhn?
Many people are interested in knowing the answer to this question. This article will give you a glimpse into Chuck Kuhn’s net worth, how he made his money, and what he does with it.
Chuck Kuhn has an estimated net worth of 5 million dollars, according to CelebrityNetWorth.com. He earned his wealth primarily through his time as CEO and founder of Autotote Systems Inc., which was sold for $125 million in 2006. In addition to running Autotote, Mr. Kuhn also served on the board of directors at Churchill Downs Incorporated from 1990-1998 and again from 2003-2006, where he was instrumental in turning
Chuck Kuhn’s Net Worth is impressive. Chuck Kuhn was born in 1952, and at the time of his death on December 25, 2017, he had an estimated net worth of $250 million. Chuck’s family has a long history with the steel industry in West Virginia, dating back to 1892 when his grandfather founded Union Steel Company (UNS). Chuck joined UNS as president in 1993 after working ten years at Fortune 500 company General Electric Company (GE) as chief financial officer. In 1997 he became CEO, and by 1999, he had doubled the size of UNS’ annual revenue from $350 million to over $700 million.
The cartoonist Charles Harris Kuhn (March 20, 1892 – March 20, 1989), better known by his pen name Doc Kuhn, was best recognized as the author of the comic strip Grandma. Chas. Kuhn was the name he used to sign his paintings and comic strips. He was the son of James B. Kuhn and Minnie Harris Kuhn, who were both born in Prairie City, Illinois.
A restaurant owner, his father proudly exhibited his son’s drawings in the window of the establishment where he worked. He became a cartoonist after receiving 50 cents from selling his first cartoon when he was twelve. In his later years, Kuhn expressed his desire that “some of the oldtimers remember me as a normal person” after growing up in Bushnell, Illinois.
The sale of roughly 90 acres in the east by JK Moving President and CEO Chuck Kuhn came only two months after the company announced a collaboration to save 87 acres of property in western Loudoun County. The land was sold nearly six times the price he had paid a year earlier.
According to county documents, the two transactions.
Kuhn selling the Arcola area property to NOVA WPC, and that organization selling the land to Vadata, Inc., an Amazon affiliate, was completed on the same day. Washington Business Journal was the first to break the news of the $116 million sale to Vadata, Inc. This company acts as a middleman for customers that want to contract for Amazon Web Services data center shells.
As Kuhn explained to the Times-Mirror, “those sorts of transactions are not out of the ordinary.” “… the data centre community in eastern Loudoun County continues to grow and adapt, and the environment in eastern Loudoun County is changing rapidly.”
The site is near Dulles, Virginia, north of Route 50 and west of StoneSprings Hospital Center. In June 2018, Kuhn purchased 89.7 acres from the Inova Health System Foundation for a monetary contribution of $20 million. The property was registered under the name 41992 John Mosby Highway LLC.
According to county documents, a Delaware-based limited liability corporation, NOVA WPC, LLC, purchased Kuhn’s property on July 31 this year for a cash consideration of $98.6 million. Kuhn previously owned the property. The site was sold for $116 million to Vadata, Inc., a technology company. According to the most recent land assessment, the region is worth 19 million dollars.
In recent deals, data center developers have purchased the property in the Dulles corridor for as much as $2 million per acre, according to the National Association of Realtors.
According to Loudoun records, the Colorado LLC sold the property on the same day in July to Vadata Inc., an affiliate of Amazon.com Inc. (NASDAQ: AMZN), for a total of 116.4 million dollars. By people familiar with the transaction, NOVA WPC LLC is an affiliate of White Peaks Capital, which is situated in Colorado. The more excellent eater price Amazon paid for the raw land is likely due to site preparation work still having to be undertaken.
Vadata is the name of Amazon’s data center division
Kuhn refused to comment on the deal, stating that he still owns around 350 acres of the 440 acres he has amassed in Arcola over many years, as we highlighted in our January cover story on the JK Moving CEO.
Power lines run through Arcola, north of Route 50 and primarily west of the StoneSprings Hospital Center. While it may not command the roughly $2 million per acre that the data center site in Ashburn commands, the region is nevertheless a desirable market for companies like Google and Amazon.
It was late last year that Kuhn said that although he was paying fair market value for the Inova site and a group of surrounding family farms, he anticipated making far more money when he sold the collection of sites for data center construction.
“The development of data centres in eastern Loudoun is having a significant positive impact on the county,” Kuhn said. According to the report, “it is reducing the number of residences developed in the county while simultaneously increasing the tax base in the county… and at the same time without increasing the number of automobiles on the roads or the number of children enrolled in the school system.”