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Forbes Pegs Shane Smith’s Net Worth at $400 Million

And assuming Jeff Bercovici’s calculations are correct, that puts the VICE co-founder way ahead of Tumblr wunderkind David Karp.

It all adds up to an amazing Canadian rags to U.S. riches story:

A bootstrapped indie magazine from Montreal that for years had no outside investors, VICE is now based in Brooklyn’s Williamsburg neighborhood, makes most of its $175 million in annual revenues from online video and event sponsorships, and is backed by Fox, WPP, the Raine Group and former Viacom CEO Tom Freston. But VICE’s senior management still holds about 75% of the equity. Of that, Smith, who was one of three co-founders, controls the largest chunk.

Bercovici revisits his December 2011 profile of Smith. A piece of advice the brash globetrotter received from director Spike Jonze resonates even more loudly two years later.

At this point, there’s just one thing missing at Smith’s end to officially join the “Forbes 400″ U.S. honor roll. To find out what that is, read on.

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