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What do we we know about the other Investers?


darucs112

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This was taken from tlw but it would be interesting to know more information about our backers for nesv. Am I right in saying that a chinese company own 19% of NYT?

 

From wiki and other sources about some of the investors :

 

John W. Henry - Principal Owner

 

Thomas C. Werner - Chairman

 

Thomas Charles "Tom" Werner (born April 12, 1950 in New York City, New York) is the Chairman of the Boston Red Sox, as well as an American television producer and businessman.

 

Werner was born in to a wealthy New York area family. He was educated at The Hotchkiss School, one of the nation's elite private schools, and earned an English degree from Harvard University. In 1973, Werner entered television by working for ABC-TV. In 1975, he became the Director of East Coast Prime Time Development. Werner was promoted to senior vice president of the prime time development department in 1979. While at ABC Werner and his partner Marcy Carsey saw Robin Williams in a Comedy Club and launched "Mork & Mindy". Werner also oversaw the development of "Bosom Buddies" which started the career of Tom Hanks, as well as "Soap" which started the career of Billy Crystal and "Taxi" which started the career of Danny DeVito.

 

Werner co-founded The Carsey-Werner Company with Marcy Carsey in 1980. In this capacity he served as executive producer of such television programs as The Cosby Show, Roseanne, 3rd Rock from the Sun and That 70s Show and other successful hits. Werner made nearly $600 million selling episodes of The Cosby Show for syndication. In 1999, he was honored at the Museum of Television and Radio.

 

In 1990, Werner entered the world of sports by purchasing the San Diego Padres from Joan Kroc. Werner bought the Padres with 14 other investors and partners. Werner often used the team to help promote his television programs, such as when he invited Rosanne Barr to perform the national anthem. At one point during his tenure, Werner's Padres traded many players in a rumored attempt to lower salary. Fred McGriff and Gary Sheffield were the two most popular players dealt, though Sheffield's trade brought legendary closer Trevor Hoffman to the team. While unpopular at the time, the Padres did win the National League Pennant in 1998.

 

In December, 1994 Werner and his partners sold most of their interest in the Padres to John Moores.

 

During the administration of President Bill Clinton Werner and Carsey were close friends and frequent advisors to Bill Clinton and Hillary Clinton.

 

In 2000 Werner, Carsey, and longtime partner Caryn Mandabach joined Oprah Winfrey to start Oxygen, a 24 cable channel serving the modern woman.

 

Werner is currently Chairman and, along with John Henry, co-owner of the Boston Red Sox baseball club. He and Henry paid $660 million for the franchise in February 2002, purchasing also Fenway Park and the New England Sports Network from the Yawkey Family Trust, managed by John Harrington. The Red Sox won two World Series since he became co-owner, in 2004 and 2007.

 

For a time, Werner was romantically involved with television host Katie Couric, then-host of Today, now lead anchor of the CBS Evening News.

 

Werner has completed a bid with New England Sports Network for English Premier league team Liverpool F

 

Thomas R. DiBenedetto

 

Director

Alexander's Inc.

Paramus , NJ

Sector: FINANCIAL / Property Management

 

60 Years Old

Thomas R. DiBenedetto, President of Boston International Group, Inc. (an investment management firm) since 1983; President of Junction Investors Ltd. (an investment management firm) since 1992; Chairman of the Board of Jefferson Watermann International (a business intelligence firm); Managing Director of Olympic Partners (a real estate investment firm); a director of Detwiler, Mitchell & Co. (a securities firm) and of NWH, Inc. (a software company) until 2006.

 

Michael Egan

 

Occupation: Founder & Managing Member

Employer: Carruth Management, LLC

Home: Hopkinton, MA

Michael and Christopher Egan are Pioneer sons of Pioneer Richard Egan (* apparantly worth 1.3B in 2006 *), who co-founded data-storage equipment maker EMC Corp. in 1979. After graduating from college, Michael Egan became EMC’s sixth employee in 1983. Going relatively independent, Michael and Christopher Egan formed real estate investment firm Carruth Capital in 1991. Carruth Capital owns and manages more than 3 million square feet of commercial real estate, with the federal government leasing $424,000 worth in fiscal 2002. Michael Egan then founded private investment firm Carruth Management in 1994. Meanwhile, EMC stock ranked second only to Dell Computer among S&P 500 companies during the go-go 1990s. In that heyday Michael Egan expressed an interest in buying part of the Boston Red Sox. Long after it became a major corporation, EMC clung to an inbred board dominated by Egan’s family and pals. One independent board member was muscled out in 1999 after questioning whether Richard Egan and other executives awarded themselves excessive compensation. In other insider deals, EMC disclosed in 2003 that it paid: $2.2 million in rent to the Egans’ Carruth Capital; $612,429 in insurance payments to Richard Egan’s brother-in-law; and $75,000 to a software company in which a third Egan son was a shareholder and director. An EMC share that traded for more than $100 before the bubble burst fetched less than $5 in 2002, when EMC lost $119 million. The Center for Responsive Politics reported in 2003 that the Egan family gave $900,000 to federal candidates and PACs over the preceding five years, with 91 percent going to Republicans. Richard Egan and his two Pioneer sons hosted a Bush fundraiser headlined by Dick Cheney that raised $1.2 million in 2003. “I have gotten my picture taken with the president twice,” Michael Egan told the Center for Responsive Politics. Each time it took less than three seconds. He doesn’t know who the hell I am.” Richard and Michael Egan also manage Cape Clear LLC, an aircraft investment firm. Carruth Capital had federal office lease contracts worth $424,000 in fiscal 2002.

 

David Ginsberg

 

Mr. Ginsberg is the Managing Director of the Special Opportunities Group at Tudor Investment Corp. Previously he served as Special Advisor to the Chairman and as a Director at John W. Henry & Company ("JWH"), a hedge fund specializing in managed futures, from 1999 until 2002. Before joining JWH, he was a private investor and consultant.

 

At Global Asset Management ("GAM") in London, Mr. Ginsberg started and served as the Managing Director of the Multi-Manager Group from its inception in 1989 until 1995, during that period and presently one of the largest fund of hedge funds groups. Prior to joining GAM, he was the Vice President in charge of the Mergers and Acquisitions Advisory Group at the National Westminster Bank USA. Mr. Ginsberg is also Vice Chairman of the Boston Red Sox and New England Sports Ventures, the holding company which owns the Boston Red Sox, New England Sports Network (NESN) and a 50% interest in Roush Fenway Racing. He was previously Vice Chairman of the Florida Marlins .

 

Mr. Ginsberg is also on the Board of Directors of The Adelphi Europe Fund, the Adelphi European Small Cap Fund and The Adelphi Emerging Europe Fund. Mr. Ginsberg received a B.A. from Kenyon College in 1977. In 1981 he received an MBA, with a concentration in Finance, from the Boston University Graduate School of Management.

 

Michael Gordon

Nada

 

John A. Kaneb

 

John A. Kaneb is the Chairman of the Board of Directors and CEO of HP Hood LLC as well as the president of the Catamount Companies.

[edit] Career

 

Kaneb bought a controlling interest in Gulf Oil and tripled its sales to US$4.6 billion before selling it in 2005. The Kaneb family acquired HP Hood LLC in 1995 and increased its annual sales from US$600 million to about US$2.3 billion. Kaneb is also part owner of the Boston Red Sox; Hood blimps are often seen over home games.[1]

[edit] Positions and appointments

 

Besides his business work Kaneb is a Trustee Emeritus of the University of Notre Dame. He is also an Emeritus Trustee of the Massachusetts General Hospital and Emeritus Trustee and former Chairman of the Board of McLean Hospital. He has worked on other boards and groups including the Board of Fellows of the Harvard Medical School.[2] He was appointed by President George W. Bush to serve on the National Prison Rape Elimination Commission in 2004.[3] He is currently the vice-chair of that commission.[2]

 

 

Seth Klarman

 

Seth Klarman is the founder and president of the Baupost Group, a Boston-based private investment partnership, and the author of a book on value investing.

Before founding Baupost, Klarman worked for Max Heine and Michael Price of the Mutual Shares fund (now a part of Franklin Templeton Investments). He founded the Baupost Group in 1982, which managed USD 22 Billion as of 2010 [1]. Despite his unconventional strategies, he has consistently achieved high returns.[2] He is a very conservative investor, and often holds a significant amounts of cash in his investment portfolios, sometimes in excess of 50% of the total.[3] He often makes unusual investments, buying unpopular assets while they are undervalued, using complex derivatives, and buying put options. Klarman typically keeps a low profile, rarely speaking in public or granting interviews. He has recently, however, spoken pessimistically about the stock market and warned of future inflation.[4]

 

In 1991, Klarman authored Margin of Safety, Risk Averse Investing Strategies for the Thoughtful Investor, which since has become a value investing classic. Now out of print, Margin of Safety has sold on Amazon for $1,200 and eBay for $2,000.[5]

[edit] Education

 

Klarman is a graduate of Cornell University and Harvard Business School.[6] At Cornell, he was a member of the Delta Chi fraternity, where he commonly studied while watching TV in the fraternity library/TV room. Despite this unorthodox study style, he achieved Phi Beta Kappa.

 

 

Larry Lucchino

 

Lawrence Lucchino, (born September 6, 1945 in Pittsburgh, Pennsylvania) is the current President and CEO of the Boston Red Sox, and a member of John W. Henry's ownership group.

Larry Lucchino, left, reacts to a sacrificial Baby Ruth bar, presented by two US Army soldiers in 2005

 

Lucchino graduated from Princeton University in 1967, and later attended Yale Law School.

 

At Princeton, Lucchino, an athlete in his own right, was on the basketball team with Bill Bradley who later became an NBA star and United States Senator from New Jersey. After law school, Lucchino practiced law with the Washington, D. C. law firm of Williams & Connolly. The founder, famed litigator, Edward Bennett Williams, had ownership interest in both the Washington Redskins and the Baltimore Orioles. Lucchino's law practice at Williams & Connolly included a substantial amount of work for those two sports teams. Through that work he ultimately became President/CEO of the Baltimore Orioles and later, the San Diego Padres. Under his watch, both teams built new stadiums Oriole Park at Camden Yards and Petco Park.

[edit] Other information

 

Lucchino was named as the Commencement speaker for Boston University's 2008 graduating class and Bryant University's Class of 2009.[1] He was also a guest speaker at New England School of Law's 2008 graduation ceremony.

 

Lucchino is the only man known to have World Series rings (Orioles ’83, Red Sox ’04 and ’07), a Super Bowl ring (Redskins ’83) and a Final Four watch (Princeton, ’65)

 

 

 

Henry F. McCance

 

Nothing on Wiki, from another site.

 

Mr. Henry F. McCance is the Chairman Emeritus at Greylock Partners. He joined the firm in 1969 and focuses on the software sector while overseeing Greylock’s strategic direction. Mr. McCance was responsible for Greylock’s early involvement in the software industry with his backing of market-leading firms including: American Management Systems, Pansophic, Cullinane, McCormack and Dodge, and VM Software. He came to Greylock after serving for two years in the Office of ... the Secretary of Defense. Throughout his 40 year career, Mr. McCance raised a series of 11 partnerships with current committed capital in excess of $2.2 billion and helped build approximately 300 developing companies. He is currently on the Board of Praecis Pharmaceuticals and Trilogy. Mr. McCance is a Member of Advisory Board of Cue Ball Venture Strategies and The Cue Ball Group, LLC. He also served on the Board of Greylock. In addition, Mr. McCance served on the Board of Directors of Continental Cablevision for 25 years. He is a Member of Board of Advisors at The Yale School of Management. Mr. McCance received the National Venture Capital Association's Lifetime Achievement Award in May 2004 and, along with Greylock's founding partners, the Harvard Business School Award for Alumni Achievement in 2003. In 2000, he was voted one of the country's ten best VCs by Forbes. He is a graduate of Yale University and the Harvard Business School.

 

 

Phillip H. Morse

 

Couldn't find much on Morse, but.....

The Boston Globe's Farah Stockman has a great piece today on a Gulf Stream used for extraordinary rendition that is owned by one of the Boston Red Sox owners:

 

Team vice chairman Phillip H. Morse, a businessman who made a fortune developing cardiac catheters, leases the Gulfstream IV jet with a Hudson, N.Y., charter agent when he is not using it. The jet sometimes has a small Red Sox logo on the fuselage near the door.

 

The jet, which used registration number N85VM and now uses N227SV, was spotted in Cairo on Feb. 18, 2003, shortly after a suspected extremist preacher disappeared from his home in Milan in a case that Italian prosecutors are investigating as a kidnapping, according to the Chicago Tribune...

 

The preacher, known as Abu Omar, but whose given name is Osama Nasr Mostafa Hassan, was also taken to the Cairo airport the same day in 2003, the Tribune reported. The newspaper also reported that the plane has made at least 51 trips between June 2002 and January to the US naval base at Guantanamo Bay in Cuba, where the United States is holding about 540 people at the base as terror suspects.

 

Omar called his relatives months later to say that Italian and American agents had kidnapped him and flown him to Cairo, where he was tortured, according to the Italian newspaper La Repubblica and Italian government documents.

 

Update: "Phillip H. Morse, a minority partner of the Boston Red Sox, confirmed yesterday that his private jet has been chartered to the CIA and said he was aware that it had been flown to Guantanamo Bay, Cuba, where more than 500 terrorism suspects are held, as well as other overseas destinations..."

 

 

The New York Times Company

 

 

 

Art Nicholas

 

Co-founder, Nicholas Applegate Capital Management; co-founder and senior partner, Nicholas Investment Partners

 

Estimated net worth: $640 million

 

Arthur E. Nicholas, 63, with $640 million in assets, is ranked by the Business Journal as No. 5 on the San Diego's Wealthiest list remaining in the same position as last year when his wealth was estimated at $750 million. Nicholas-Applegate Capital Management in San Diego, the privately owned investment management firm that he co-founded in 1984, had $45 billion under management when he sold it to Allianz AG in 2000. Nicholas was the firm's chairman and CEO at the time of purchase by the German company, and he remained on the executive committee for a brief time after that.

 

His innovative approach included the systematic use of dynamic quantitative models to improve investment performance. The firm that Nicholas built continues to operate today under the prestigious Nicholas-Applegate name as a San Diego-based division of Allianz Global Investors. With nearly 155,000 employees worldwide, Allianz serves approximately 75 million customers in about 70 countries.

 

Meanwhile, Nicholas has reinvented himself at Nicholas Investment Partners in Del Mar, a 100 percent employee-owned firm he co-founded with his wife, Catherine, in 2006. The company's assets are estimated at $256 million.

 

The couple is linked to Wagonhound Land & Livestock Co. LLC, a 150,000-acre ranch in Douglas, Wyo., that raises cattle, breeds horses and provides outfitting services for hunting. Nicholas serves on the board for the National Cowboy & Western Heritage Museum in Oklahoma City, and the couple supports the Traditional Cowboy Arts Association.

 

Frank Resnek

 

Couldn't find much, mentioned here

Red Sox Principal Owner John Henry's ownership group "now includes four previously unidentified limited partners with New England roots, several of whom, like Henry, made their fortunes as wildly successful money managers," according to Meg Vaillancourt of the BOSTON GLOBE, who noted the new partners are Jeffrey Vinik, Michael Gordon, Michael Egan and Frank Resnek. While team officials declined comment on the new partners, the only confirmation that Vinik and Gordon "have invested in the Sox was the fact that their names appear in the team's media guide." Vinik headed his own money management company, Vinik Asset Management, after serving as a fund manager for Fidelity Magellan. Gordon was a partner in Vinik Asset Management. Egan, "an avid Red Sox fan," is the son of EMC Corp. Founder Richard Egan, who is now ambassador to Ireland. Resnek is an exec at MA-based real estate holdings investment group Churchill Forge Properties. The team's remaining limited partners include Philip Morse, San Diego-based money manager Arthur Nicholas, The New York Times Co., Boston-based ad exec Ed Eskandarian, and business execs Ben Camarratta and Marty Trust. Henry, Red Sox Chair Tom Werner and President & CEO Larry Lucchino "are eagerly wooing additional local partners." On Saturday, Henry "entertained ... sponsors as well as the team's partners aboard his yacht" (BOSTON GLOBE, 3/17). Also in Boston, Bob Hohler wrote that "in yet another reminder that it's a new day in Red Sox country," Henry and Lucchino on Friday "held their first round-table talk with players." Pedro Martinez, Tim Wakefield, Nomar Garciaparra and Tony Clark attended for what "appeared to be more of a casual chat than an in-depth analysis of player concerns"

 

Martin Trust

 

Martin Trust

Director

Virtusa Corporation

Westborough , MA

Sector: TECHNOLOGY / Information Technology Services

 

75 Years Old

Martin Trust has served as a member of our board of directors since October 2004. Mr. Trust is chief executive officer of Samtex (USA), Inc., a holding company engaged in the production of apparel and textile products, a position he has held since October 2003. Mr. Trust was senior advisor to Limited Brands, a retailer of apparel and personal care products, from 2001 to October 2003. Prior to that, Mr. Trust served as president and chief executive officer of Mast Industries, Inc., a contract manufacturer, importer and wholesaler of women's apparel and wholly-owned subsidiary of Limited Brands, from 1970 to 2001. Mr. Trust has served in the capacity of cleared advisor to the United States Department of Commerce with regard to textile trade issues. Mr. Trust was a member of the board of directors of Staples, Inc. from 1987 to 2009. Mr. Trust brings to the board of directors many years of executive management and leadership experience and provides invaluable advice and input regarding our strategic and financial affairs.

 

Jeffrey Vinik

 

Jeffrey N. Vinik (born March 22, 1959) is the current owner of the Tampa Bay Lightning and a minority owner of the Boston Red Sox.

 

Vinik was born in Deal, N.J[2] He graduated Phi Beta Kappa from Duke University in 1981 with a bachelor of science in civil engineering.[3] He also obtained an MBA from Harvard Business School in 1985.

 

Vinik managed the Fidelity Magellan Fund from 1992 to 1996. After leaving Fidelity, he started a hedge fund called Vinik Asset Management. He made investors 93.8% in his first 11 months and approximately 50% a year for the next three years. At the end of 2000, Vinik returned investors $4.2 billion and focused on managing his own portfolio.

 

Vinik and his wife, Penny, donated $5 million to Duke's engineering school.[5]

Edited by darucs112
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Thomas C. Werner - Chairman

 

While at ABC Werner and his partner Marcy Carsey saw Robin Williams in a Comedy Club and launched "Mork & Mindy". Werner also oversaw the development of "Bosom Buddies" which started the career of Tom Hanks, as well as "Soap" which started the career of Billy Crystal and "Taxi" which started the career of Danny DeVito.

 

Werner co-founded The Carsey-Werner Company with Marcy Carsey in 1980. In this capacity he served as executive producer of such television programs as The Cosby Show, Roseanne...

 

During the administration of President Bill Clinton Werner and Carsey were close friends and frequent advisors to Bill Clinton and Hillary Clinton.

 

For a time, Werner was romantically involved with television host Katie Couric, then-host of Today, now lead anchor of the CBS Evening News.

Four reasons why Werner is better than Hicks.

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Isn't he involved with the CIA?

 

Nope. His plane gets leased out through a corporation which in turn sub-leases them. They leased it out once to the CIA and they transported a guy from Italy to Egypt in it.

 

I believe he subsequently told them to not lease it out to them any more.

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TIA still implying that there is some other mystery backer behind NESV.

 

Has been messaging Ben smith if the times about. Looking at his other messages there is a mention if warren buffet.

 

 

Anyone know how reliable TIA are?

 

 

 

 

Dreamland. Buffet is too smart to buy into the idea that he can get a return he can't get elsewhere out of English football.

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Dreamland. Buffet is too smart to buy into the idea that he can get a return he can't get elsewhere out of English football.

 

Well Buffet is busy giving all his money away. Maybe he's sees LFC as a case worthy of some charitable contribution. ;)

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The first six pages of the Strait Times in Singapore were devoted to the takeover. Page 1 featured a big picture of a smiling Peter Lim. Pages 2-3 the story of his 'almost takeover', page 4 reported on how he made his money and pages 5-6 covered the actual takeover. My favourite parts of the piece were the assertions that he was qualified to own Liverpool because he was a United fan and therefore knew football and that he was a man who tended to stay in the background and would allow qualified people such as Roy Hodgson manage the club. Where do you begin?

Edited by Snookie
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The first six pages of the Strait Times in Singapore were devoted to the takeover. Page 1 featured a big picture of a smiling Peter Lim. Pages 2-3 the story of his 'almost takeover', page 4 reported on how he made his money and pages 5-6 covered the actual takeover. My favourite parts of the piece were the assertions that he was qualified to own Liverpool because he was a United fan and therefore knew football and that he was a man who tended to stay in the background and would allow qualified people such as Roy Hodgson manage the club. Where do you begin?

 

bullet dodged there, I think

 

While at ABC Werner and his partner Marcy Carsey saw Robin Williams in a Comedy Club and launched "Mork & Mindy". Werner also oversaw the development of "Bosom Buddies" which started the career of Tom Hanks, as well as "Soap" which started the career of Billy Crystal and "Taxi" which started the career of Danny DeVito.

 

he can spot a comedian, then?

 

with Hodgson he probably thinks he's discovered the next Mr Bean

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TIA still implying that there is some other mystery backer behind NESV.

 

Has been messaging Ben smith if the times about. Looking at his other messages there is a mention if warren buffet.

 

 

Anyone know how reliable TIA are?

 

Didn't that star with some fake tweet attributed to Ben Smith during the mad hours last friday

 

 

Is NESV ran for profit at the moment. Is money taken out of red sox to go.

 

I read/heard that every penny made by the Red Sox is invested back in the team, that was some US equiv of Tom Cannon, but seemed to know his onions re how much Hicks had lost and the payroll and revenue figures. They seem to look to grow the long term value, rather than take out short term profits.

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Didn't that star with some fake tweet attributed to Ben Smith during the mad hours last friday

 

 

 

 

I read/heard that every penny made by the Red Sox is invested back in the team, that was some US equiv of Tom Cannon, but seemed to know his onions re how much Hicks had lost and the payroll and revenue figures. They seem to look to grow the long term value, rather than take out short term profits.

 

They'll take their £300m+ back some day.

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They'll take their £300m+ back some day.

 

I reckon that if they are not taking dividends yearly then the plan will be to build the value of the business. So in 5 years we might be worth £800M with the right results, sponsorship. marketing.and resultant revenue.

 

Imagine Tom Hicks face when that happens....

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I reckon that if they are not taking dividends yearly then the plan will be to build the value of the business. So in 5 years we might be worth £800M with the right results, sponsorship. marketing.and resultant revenue.

 

Imagine Tom Hicks face when that happens....

 

I would nearly travel to Texas to see it in person

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Just had a text saying that Carlos Slim is one of the backers/members of NESV. Supposedly the world's richest man with an estimated wealth of $50bn.

 

Anyone else hearing this?

 

 

Carlos Slim, the Mexican tycoon who has never used a computer and wears a plastic wrist***ch, has beaten Bill Gates to the top of the Forbes list of The World's Billionaires.

By Heidi Blake

Published: 8:01AM GMT 11 Mar 2010

 

Comment

 

Previous1 of 2 ImagesNextCarlos-Slim-Helu_1594572c.jpg Telecoms tycoon Carlos Slim Helu was ranked as the richest person in the world Photo: BLOOMBERG carlosslim_1594321c.jpg Carlos Slim Helu (left) is the world's richest man, with a fortune of $53.5bn (£35.7bn). The Mexican made his money in the telecoms industry. He was in third place last year, and leapfrogged Bill Gates and Warren Buffett to take the top spot. Photo: AFP Each Monday, the richest man in the world likes to sit down to a home-cooked Mexican meal of quesadillas or chile relleno in his simply-furnished family home.

 

With just six bedrooms and a modest swimming pool, from the exterior the house is worlds apart from the sprawling mansions inhabited by Bill Gates whom he yesterday beat to the top of the Forbes list of The World's Billionaires.

 

 

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But inside the clues of Mr Slim's vast personal fortune of $53.5bn (£35.8bn) are all around: the walls are adorned with the paintings of Van Gogh, Renoir and Diego Rivera, while the rooms are dotted with sculptures by Auguste Rodin of which Mr Slim is the world's foremost collector.

 

Mr Slim's vast family empire controls more than 200 companies spanning industries including banking, telecoms, road-building and restaurants.

 

His influence is all-encompassing in his homeland of Mexico, and it is rapidly spreading across the border into the USA and beyond.

 

But at 70 he remains committed to his humble roots. He idolises his father, Julian, who emigrated from Lebanon at the age of 14 and made his fortune trading property in the 1910-17 Mexican revolution.

 

Mr Slim's own business ambitions were compounded when he read an article about Jean Paul Getty, the American oil billionaire, in Playboy magazine.

 

He invested in Government saving bonds at the age of 11, tracking his purchases in a detailed ledger. By the age of 15 he had bought a small shareholding in Banco Nacional de Mexico then the country's largest bank.

 

After taking a degree in civil engineering at the National Autonomous University of Mexico, he began working 14-hour days to build his own stockbroking company.

 

By the age of 26, in 1966, Mr Slim was worth a $40m through a series of investments and acquisitions.

 

The following year he married Soumaya Domit Gemayel, also a Lebanese-Mexican, with whom he would go on to have six children before her death from a kidney ailment in 1999.

 

Mr Slim's big break, like his father's, came at a time of national crisis: he took advantage of a countrywide "fire sale" of assets by local and foreign investors in the Mexican recession of 1982 to build on his business empire.

 

During this period of economic turbulence he formed Grupo Carso, which now owns retail outlets such as Sanborns and Sears, as well as a raft of manufacturing businesses.

 

It also owns T1MSN the Latin American version of Microsoft's MSN website ironic since Mr Slim refuses to use computers and demands that advisers present everything he needs to know about each business deal on a single sheet of paper.

 

Eight years after the recession, Mr Slim took charge of Mexico's national telecoms company, Telmex, beating off competition from 35 other bidders.

 

His mobile telephone network, America Movil, has opened up swathes of Latin America to the mobile market and now serves more than 153 million customers in 11 counties including Brazil and Ecuador.

 

Last year he extended his tentacles into North America when he announced plans to inject £250 million into the struggling national newspaper, the New York Times, in which he already owned a 6.4 per cent stake.

 

Mr Slim's interests across the border include a 1 per cent share of Citigroup, the troubled banking conglomerate, which he bought last year.

 

But apart from his lavish art collection Mr Slim is a man of simple tastes. He has eschewed the billionaire's obligatory Rolex in favour a plastic wrist***ch that doubles as a calculator, and his offices in Mexico City are littered with paperwork with not a computer in sight.

 

When not at work he spends his evenings with his family, and enjoys lavishing attention on his grandchildren.

 

The son of Lebanese immigrants is known for his philanthropy though not on the same scale as Mr Gates or Mr Buffett, whose charitable efforts he has previously mocked.

 

Most recently, he joined forces with Bill Clinton, the former US President, and Frank Giustra, the Canadian mining tycoon, to launch an anti-poverty campaign in Latin America.

 

Earlier this month he pledged $6bn for his three charitable foundations.

 

Meanwhile, his infrastructure firm, Ideal, is working on a project to develop a shopping centre, schools and a hospital in Mexico City.

 

But the billionaire has made it clear that he has no plans to retire from business to concentrate on charitable work, as Mr Gates has done.

 

In a recent interview, he said: "Wealth is like an orchard. You have to share the fruit, not the trees."

 

 

Maybe this is what that text based on.

Edited by Ragnor the Horn
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Had a quick look at his Wiki, which aslo says:

 

Slim is said to have shown an interest in buying the Honda Formula One team.[19] Slim would overtake the owner of Force India, Vijay Mallya, to become the richest team owner in a sport famous for being a playground for the super wealthy. Slim made it known in the Mexican press that he will soon announce his intentions to acquire a Major League Soccer franchise to be located in Queens, New York that will initially be set up in the second-tier United Soccer Leagues.

 

Spoke to the person that texted me who said that it had been mentioned by people phoning in on This s Anfield on LFCTV last night.

 

Quite likely a load of b******s.

Edited by Internet Terrorist
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