Tony Hsieh's family announces plans to sell Zappos co-founder's nearly 100 properties following tragic fire death: report
Hsieh, who died in November 2020, owned more than 90 properties in Las Vegas
The administrators of Zappos co-founder Tony Hsieh’s estate are in the process of trying to sell more than 90 Las Vegas properties owned by the multimillionaire at the time of his shocking death, according to a family spokesperson and a report.
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.
On Thursday, a Hsieh family spokesperson confirmed the news to FOX Business, writing in a shared statement: “Since Tony’s passing in November, the estate is grateful to have received an immense amount of interest in finding ways to expand on Tony’s vision in revitalizing downtown Las Vegas through community efforts.”
“As Las Vegas begins to overcome the economic interruption caused by the pandemic, and with the favorable policy of opportunity zone enjoyed by Downtown Las Vegas, the time is ripe for the estate to consider all options to further implement Tony’s vision,” the spokesperson’s statement continues. “As part of this effort, the estate has been advised that all potential transactions of its real estate holdings must be filed with the court first. Since there will be many possibilities, the estate has chosen 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.”
Zappos.com CEO Tony Hsieh judges contestants during the fourth annual Las Vegas Halloween Parade on Oct. 31, 2013, in Las Vegas, Nevada. (Ethan Miller/Getty Images) ((Photo by Ethan Miller/Getty Images))
FIRE THAT KILLED TONY HSIEH POSSIBLY CAUSED BY 'CARELESSNESS,' 'INTENTIONAL ACT': OFFICIALS
The spokesperson did not immediately provide more information about the properties.
For years, Hsieh worked to revitalize downtown Las Vegas, pledging $350 million in 2013 for redevelopment. The same year he moved Zappos’ headquarters into the former Las Vegas City Hall building. Nevada Gov. Steve Sisolak tweeted after his death that Hsieh “played a pivotal role in helping transform Downtown Las Vegas.”
Hsieh, who announced his retirement from Zappos in August, had at least one residence in Las Vegas. He was estimated to have been worth $840 million at the time of his retirement, according to Forbes.
The properties are predominantly located in the city’s downtown area and consist of Container Park, Zappos’ headquarters, among dozens of other properties, according to the Review-Journal. No property appraisal information was reportedly provided.
Hsieh, 46, died on Nov. 27, 2020, nine days after a fire broke out at the New London, Conn., home where he and his friends, including his brother, were staying.
Late last month, investigators released several hypotheses surrounding the cause of the blaze, which ignited in the home’s pool room shortly before 3:30 a.m. Hsieh was "trapped" in the pool room, the investigation report states, by shed doors that were "locked with a single keypad deadbolt style lockset."
Hsieh had been staying in the shed-like room after he and the homeowner and his rumored girlfriend, Rachael Brown, had an argument at roughly 11:30 p.m. the night before. She asked him to leave the property until they departed for Maui, and Hsieh relocated to the pool room.
ZAPPOS FOUNDER TONY HSIEH'S FAMILY GRANTED CONTROL OF ESTATE, MASSIVE FORTUNE
The scene of the fire that killed Zappos founder Tony Hsieh (New London Fire Department)
The timeline shows his friends had been checking on him every 10 minutes, including when they told Hsieh it was time to go at 3:20 a.m. At the time, he responded: "Five more minutes."
But by 3:21 a.m., the carbon monoxide detector's alarm had been activated. By 3:24 a.m., a camera positioned at the shed's entrance had failed because of the fire, the timeline indicates. The fire department was called at 3:26 a.m.
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Just minutes earlier, at 3:14 a.m., authorities said a crash could be heard inside the shed.
It took six minutes from the first firetruck to arrive on the scene for responders to get to Hsieh, the report notes. When firefighters found him, he was "in a supine position on a blanket" inside the shed.
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Hsieh was rushed to an area hospital but ultimately could not be saved. His death was deemed accidental and caused by complications from smoke inhalation, officials previously said.
Authorities reportedly do not believe there was criminality involved but said the cause of the fire is so far undetermined. Investigators identified four possible hypotheses, including that the "misuse of candles started this fire," careless disposal of smoking materials or even whether "an intentional act by Hsieh" was to blame.
The Associated Press contributed to this report.