CARL ALLEN • Net Worth $400 Million • House • Yacht • Private Jet • Heritage Bag • Walkers Cay

Name:Carl Allen
Net Worth:$ 400 million
Source of Wealth:Heritage Bag, Allen Exloration
Wife:Gigi Allen
Children:Anne Allen, Thomas Allen, 2 more
Residence:Dallas, TX, USA
Private Jet:Icon A5 (N444BA), Cirrus SR 22 plane (N638SR)

Meet Carl Allen: The Leader Behind Heritage Bag

Carl Allen, born in the 1960s, forged a successful career as the CEO of his family business, Heritage Bag. Along with his wife, Gigi, and their four children, he represents a legacy in the plastic bags and liners industry. Heritage Bag, under Allen’s astute leadership, flourished until he sold it in 2016.

Key Takeaways:

  • Carl Allen, former CEO of Heritage Bag, has been instrumental in establishing the company as a leading producer of trash bags and liners in North America.
  • Post the sale of Heritage Bag to Novolex for an estimated $300 million, Allen ventured into investing with his firm, Allen Exploration.
  • Allen’s diverse investment portfolio includes nature exploration, pollution research, fish migration studies, and the search for sunken ships.
  • Allen’s property assets include the beautiful Walker’s Cay in the Bahamas, where he plans to create an idyllic sports fishing island.
  • With an estimated net worth of around $400 million, Carl Allen, along with his wife Gigi, generously supports various causes in healthcare, education, and nature conservation.

The Legacy of Heritage Bag

Established in 1973 by Carl F. Allen, Heritage Bag quickly rose to prominence as a leading producer of trash bags and liners in North America. Based in Dallas, Texas, the company supplied a vast array of plastic trash bags, can liners, and food bags to institutional and commercial customers.

With six production facilities and an impressive team of 800 employees, the company was eventually sold to Novolex in 2016 for an estimated $300 million. Post this transaction, Allen shifted his focus towards investing via his firm, Allen Exploration.

All About Allen Exploration

Allen Exploration is Carl Allen’s brainchild. It functions as a family office and investment firm, showcasing Allen’s diverse entrepreneurial spirit. Beyond conventional investing, the company extends its pursuits to nature exploration, pollution research, fish migration studies, and treasure hunts for sunken ships.

Allen’s impressive fleet includes the Westport Gigi, the 55-meter Damen support vessel Axis, a Triton submarine, an Icon A5 aircraft (N444BA), a Cirrus SR 22 plane (N638SR), and a Viking sport fisher yacht named Frigate.

Walker’s Cay: A Bahamian Haven

In 2018, Allen acquired the beautiful Walker’s Cay in the Bahamas. With grand visions of creating an idyllic sports fishing island complete with a marina fit for both superyachts and sport fisher yachts, Allen continues to diversify his investment portfolio.

Carl Allen’s Financial Milestones

With a well-rounded career spanning various industries, we estimate Carl Allen’s net worth to be around $400 million.

Generosity Runs in the Family: Allen’s Philanthropy

The Allen family, with Carl and Gigi at the helm, are committed philanthropists. Their generous donations, amounting to millions, have significantly contributed to healthcare, education, and nature conservation causes.


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Yacht Gigi Owner

Carl Allen

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Carl Allen Yacht

He is the owner of the Gigi Yacht and her support vessel Axis. Designed by Donald Starkey, Gigi is the epitome of luxury and style. This Westport yacht can comfortably accommodate 12 guests and a crew of 11. Powered by two MTU engines, Gigi boasts a top speed of 24 knots and a cruising speed of 18 knots. With a range of 3,700 nautical miles, she is perfect for long voyages.