{"id":266982,"date":"2023-03-30T18:14:53","date_gmt":"2023-03-30T23:14:53","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=266982"},"modified":"2023-04-04T16:43:00","modified_gmt":"2023-04-04T21:43:00","slug":"late-zappos-ceo-tony-hsiehs-estate-settles-12-5m-lawsuit-based-on-post-it-note","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/late-zappos-ceo-tony-hsiehs-estate-settles-12-5m-lawsuit-based-on-post-it-note\/","title":{"rendered":"Zappos CEO Tony Hsieh\u2019s Estate Settles $12.5M Lawsuit Based on Post-it Note"},"content":{"rendered":"

The estate of the late former Zappos CEO Tony Hsieh has settled a lawsuit filed in 2021 by an ex-employee of a Las Vegas restaurant Hsieh invested in.<\/p>\n

\"Tony
Tony Hsieh transformed Zappos into a billion-dollar shoe giant following his takeover of the internet company in 1999. He died in 2020, having recently stepped down from the company after years of erratic behavior reported by his close associates. (Image: footwearnews.com)<\/figcaption><\/figure>\n

According to court records, Mark Evensvold, the former director of operations and director of business development for Nacho Daddy, claimed he is owed $12.5M of Hsieh\u2019s estate due to an employment contract they inked on a Post-it Note<\/a> in 2020.<\/p>\n

Hsieh was worth a reported $840M when he died at age 46 in a Connecticut house fire on Nov. 26, 2020. The internet entrepreneur did not leave a will.<\/strong><\/p>\n

Dated Aug. 19, 2020, Evensvold claims his contract — which loosely defined his responsibilities as \u201cwork on random projects like koi fish or tree houses\u201d — promised him $450K a year and a signing bonus that included 20% of Hsieh\u2019s 25% interest in Nacho Daddy.<\/p>\n

\"\"<\/p>\n

Evensvold\u2019s claim included a \u201ctranscript of the conversation\u201d between the two men outlining the terms of their deal. A \u201ccourt recorder\u201d was present to document the conversation, according to the claim.<\/p>\n

\u201cBut for Tony\u2019s offer of the signing bonus, Evensvold would not have entered into the agreement, would not have resigned from Nacho Daddy, and would not have relocated from Las Vegas to Park City,\u201d Evensvold\u2019s claim stated.<\/p>\n

Earlier this month, the Hsieh estate settled a similar lawsuit filed in 2021 by Hsieh\u2019s financial manager, Tony Lee, who claimed breach-of-contract damages of $7M.<\/p>\n

Both lawsuits were part of the legal probate process necessary for claims against people who died without leaving a will. Neither settlement amount was disclosed.<\/p>\n

Hsieh’s Sad Downfall<\/h2>\n

Hsieh transformed Zappos into the first billion-dollar internet shoe giant following his company takeover in 1999. After moving its base of operations from San Francisco to Henderson, Nev., and later to Las Vegas, he also transformed a section of downtown Las Vegas from a crime-ridden area to a hipster haven.<\/p>\n

\n

He was also known for his eccentricities, including living with an alpaca in an Airstream in a downtown trailer park, and conducting his business unconventionally \u2013 including via sticky notes. Hsieh had walls covered with Post-its.<\/p>\n<\/div>\n

Court documents filed by Hsieh\u2019s family last year indicated Hsieh used ketamine and nitrous oxide in the years before his death. According to friends, Hsieh used \u201cas many as 50 cartridges of nitrous oxide a day, often in public, or during \u2018meetings\u2019 with people,\u201d documents said.<\/p>\n

Lawyers for Hsieh\u2019s estate have repeatedly written in court documents that Hsieh did not have the mental capacity to sign off on contracts in the months and even years leading up to his death.<\/p>\n","protected":false},"excerpt":{"rendered":"

The estate of the late former Zappos CEO Tony Hsieh has settled a lawsuit filed in 2021 by an ex-employee of a Las Vegas restaurant Hsieh invested in. According to court records, Mark Evensvold, the former director of operations and director of business development for Nacho Daddy, claimed he is owed $12.5M of Hsieh\u2019s estate […]<\/p>\n","protected":false},"author":78,"featured_media":266985,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[81886,60],"tags":[23,82103,83433,83434],"acf":[],"yoast_head":"\nZappos CEO Tony Hsieh\u2019s Estate Settles $12.5M Lawsuit Based on Post-it Note - Casino.org<\/title>\n<meta name=\"description\" content=\"The estate of the late former Zappos CEO Tony Hsieh has settled a lawsuit filed in 2021 by an ex-employee of a Las Vegas restaurant Hsieh invested in.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/late-zappos-ceo-tony-hsiehs-estate-settles-12-5m-lawsuit-based-on-post-it-note\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zappos CEO Tony Hsieh\u2019s Estate Settles $12.5M Lawsuit Based on Post-it Note - 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