Jim Basile Blackberry Net Worth, Source of Income and Bio
Jim Balsillie Biography
Jim Balsillie, born on February 3, 1961, in Seaforth, Ontario, Canada, is a renowned Canadian businessman and philanthropist. He is best known for his role as the co-founder of Research in Motion (RIM), the company that developed the BlackBerry smartphone.
PROFILE SUMMARY
- Full name: Jim Basile Blackberry
- Date of birth: February 3, 1961
- Age: 63 Years Old
- Gender: Male
- Place of birth: Seaforth, Ontario
- Nationality: Canadian
- Profession: Businessman • Philanthropist
- Parents: Raymond Balsillie (Father), Laurel Balsillie (Mother)
- No. of Children: 2
- Net worth: $800 Million
Early Life & Education
Balsillie was born to Raymond Balsillie, an electronics technician at Ontario Hydro, and Laurel Balsillie. The family moved to Peterborough when Jim was five years old. He was enterprising from a young age, selling Christmas cards door-to-door at age seven. In his teen years, he juggled several newspaper delivery routes and managed a painting operation. He also helped out at a Big Brothers of Canada camp, worked at a ski hill, and did maintenance at a trailer park.
He received a Bachelor of Commerce degree from Trinity College at the University of Toronto in 1984, where he was also a member of the Zeta Psi fraternity. He earned an MBA from Harvard Business School in 1989.
Career and Research in Motion
After graduating from Harvard Business School, Balsillie became an executive vice-president and chief financial officer at Sutherland-Schultz, a design and construction company. He remained in that position until 1992 when the company was sold to the Vollmer Group and Balsillie decided to leave.
The same year, he invested in Research in Motion (RIM) and joined as co-CEO with founder Mike Lazaridis. At the time, RIM had fewer than ten employees, but with his guidance, it quickly became an international company. Not long after Balsillie joined, Research in Motion was re-branded as BlackBerry Limited, and it boasted over 28,000 employees.
While Lazaridis handled the technological side of things, Balsillie oversaw all the sales, accounting, and business deals. However, when competing with Apple’s iPhone and Google’s Android devices, the dual-CEO structure began to hold the company back. Soon after, Balsillie stepped down from his role as chairman after the company reported over in past stock option accounting errors from the past. Of course, he didn’t leave the company entirely, and retained his roles as co-chief and director, allowing him to maintain his influence.
Personal Life
Jim Balsillie married his wife in 1989 in Hamilton, Ontario. They had two children before separating in 2011.
Net Worth & Source of Income
Balsillie’s primary source of income stems from his pivotal role at Research In Motion. His compensation likely included a combination of salary, bonuses, and stock options. The financial success of RIM during the heyday of BlackBerry further contributed to his wealth. As of April 2024, James Balsillie’s net worth is estimated to be roughly $800 Million.
