Jeffrey Gorman Webb, the founder of Memphis-based Varsity Spirit and the originator of modern cheerleading industry, died at the age of 76. While an official cause of death was not disclosed, Cheer Daily said that he had died in an accident.
Varsity Spirit put out a statement after his demise, praising his contributions to shaping cheerleading and building a community that has impacted generations of athletes, coaches, and teams.
Given the impact Webb had on cheerleading, many are interested to know about his wealth and family. His exact net worth is not a matter of public record, but an estimate can be made based on several reports.
The company he founded – Varsity Brands, LLC – was purchased by Bain Capital in 2018 in a private deal estimated to be $2.9 billion. Insiders noted that Webb would have pocketed nine figures, around $100 million, from the deal.
Webb has also remained relatively private about his family life. He is a father of two and likes spending time with his family in Memphis, Tennessee. He was married to Cheri R Ganong, who was a teacher at Ridgeway High School when their marriage was announced.
