How Brett Adcock Achieved a Net Worth of $300 Million
Brett Adcock is an American technology entrepreneur who has been building companies for 20 years. He built his first technology company at the age of 16. The first 15 years of Adcock’s entrepreneur career was in software/internet and the last 5 have been in advanced hardware. He is best known as the founder of Archer Aviation, an electric aircraft company based in Palo Alto, CA that went public on the NYSE in 2021. Prior to this Adcock was the founder of Vettery, a technology company based in New York City that was later acquired by The Adecco Group.
What Is Brett Adcock’s Net Worth?
As of 2022, the technology entrepreneur was estimated to have a net worth exceeding $300 million. Adcock is the founder of electric aerospace company Archer Aviation who went public on the New York Stock Exchange in September 2021 at a valuation of $2.7 billion. In addition to this, Adcock was the founder of Vettery, an online recruiting marketplace that was acquired in an all-cash deal by The Adecco Group for $110 million. At one point in February 2021, Adcock’s net worth on-paper was estimated at over $1 billion when the valuation of Archer (NYSE: ACHR) approached $6 billion market capitalization.
His Entire Career was Self-Made
Adcock grew up in Moweaqua, IL where he, according to his personal website, was raised in a farming family that grew corn and soybeans. At an early age, Adcock was interested in creating and solving engineering problems.
After graduating from the University of Florida, Adcock started to work towards a professional career in technology entrepreneurship.
In 2008, Adcock founded the recruiting content platform StreetofWalls.com. Street of Walls exists today and has eclipsed over 20 million visitors since inception.
In 2012, Adcock founded Vettery, an online talent marketplace based in New York City. Vettery was later acquired by The Adecco Group for $110 million.
In 2018, Adcock founded Archer, an aerospace company building electric vertical takeoff and landing aircraft.
Archer Aviation
In October 2018, Adcock founded electric aircraft company Archer Aviation (Forbes). Archer was originally started with a research grant from Adcock at the University of Florida (UF) and ultimately headquartered in Palo Alto, CA.
“Here at Archer we’re working on a project that has the potential to help curb carbon emissions which is important, has the potential to help fix traffic problems because even if we have electric cars on the ground we’re not fixing the problems in cities about getting around,” said Adcock in an interview with Forbes.
In February 2021 United Airlines announced that it was investing in Archer and making an initial purchase of aircraft worth $1 billion. United, in partnership with regional carrier Mesa Airlines, intends to use the Archer aircraft to provide urban service to airports within five years.
Archer announced it would go public on February 10, 2021 announcing investors such as United Airlines, Stellantis, Exor, Baron Capital, Marc Lore, and founder Brett Adcock. Archer went public on September 17, 2021 on the New York Stock Exchange ticker ACHR and completed cash proceeds of $860 million. Archer went public at a valuation of $2.7 billion.
Vettery
In 2013, Adcock launched the online talent marketplace Vettery. Vettery was ranked as Crain’s NYC top places to work in both 2016 and 2017 as well as Inc. Magazine 2018 best places to work in NYC. Vettery started at NYU’s Varick Street Incubator. As of 2017, Vettery has raised $12 million in venture backed funding led by Greycroft Investors, Raine Ventures, and Pritzker Venture Capital.
It is rumored that Adcock went “all-in” at Vettery putting every last dollar he had into the company and having to take a loan in 2015 to pay for rent.
In February 2018, The Adecco Group announced it would acquire Vettery for $110 million in cash. Adecco purchased Vettery for their technology with The Adecco Group using Vettery as a way to accelerate the development of the Adecco Group’s digital strategy, broadening our offering into the fast-growing digital permanent recruitment market and complementing their professional recruitment businesses.
Personal
Adcock lives in Palo Alto, CA with his wife Catherine Adcock and two children. Adcock is not known for making outside investments besides investing heavily in his own companies, but it is known that he made an early private investment into SpaceX.
In April 2021, Adcock publicly raced hall of fame football player, Jerry Rice, to the 40-yard dash as a part of Rich Eisen’s Run Rich Run for St. Jude Children’s Research Hospital. Adcock beat Rice.
