Henry Samueli

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Henry Samueli
Henry Samueli, Bush and Anaheim Ducks (cropped).jpg
Samueli (center) in 2008
Born (1954-09-20) September 20, 1954 (age 70)
Buffalo, New York, U.S.
Alma mater UCLA (BS, MS, PhD)
Known forco-founder of Broadcom Corporation
Owner of the Anaheim Ducks
SpouseSusan Samueli
Children3

Henry Samueli (born September 20, 1954) is an American businessman, engineer, and philanthropist. He is a co-founder of Broadcom Corporation, owner of the Anaheim Ducks of the National Hockey League (NHL), and a prominent philanthropist in the Orange County, California, community. He is chairman of Broadcom Inc. He is also a professor (on leave of absence) in the Electrical and Computer Engineering Department at UCLA, and a distinguished adjunct professor in the Electrical Engineering and Computer Science Department at UC Irvine.

Contents

He holds honorary doctorate degrees from the Technion-Israel Institute of Technology [1] and the National Chiao Tung University in Taiwan. [2]

He is a named inventor in 75 U.S. patents. He is a Fellow of the Institute of Electrical and Electronics Engineers (IEEE) for contributions to VLSI architectures and realizations for high-bit rate digital communication systems. [3] He is also a Fellow of the American Academy of Arts and Sciences (AAAS). He was also elected a member of the National Academy of Engineering (NAE) in 2003 for pioneering contributions to academic research and technology entrepreneurship in the broadband communications system-on-a-chip industry. In 2012 Samueli won the Marconi Prize and Fellowship for "pioneering advances in the development and commercialization of analog and mixed signal circuits for modern communication systems, in particular the cable modem. [4] [5] According to Bloomberg Billionaires Index, in 2024, he's the 105th richest in the world with an estimated net worth of US$ 19.6 billion.

As per Forbes list of The Richest People In The World, dated 8 MARCH 2024 Henry Samueli ranked #132 with a net worth of $14.1 Billion. [6]

Biography

Early life and education

Samueli's parents, Sala and Aron, were Polish-Jewish immigrants who survived the German Nazi occupation of Europe and arrived in the United States with almost nothing. [7] [8] Samueli stocked shelves in his family's Los Angeles liquor store and graduated from Bancroft Junior High School and Fairfax High School. [7] Samueli became interested in electronics while building an AM/FM radio during a shop class at Bancroft.

Samueli attended UCLA, where he received his bachelor's degree (1975), master's degree (1976), and Ph.D (1980), [9] all in the field of electrical engineering. His Ph.D. advisor was Alan N. Willson Jr. and his Ph.D. dissertation is titled "Nonperiodic forced overflow oscillations in digital filters." [10]

Broadcom origins

In 1991, while still working as a professor at UCLA, Samueli co-founded Broadcom Corporation with one of his Ph.D. students, Henry Nicholas. [11] Each invested $5,000 and initially worked out of Nicholas' Redondo Beach home. They rented their first office in 1992 in Westwood, Los Angeles near the UCLA campus and moved to Irvine, CA in 1995 at which time Samueli took a leave of absence from UCLA to be at Broadcom full-time. Broadcom went public three years after that. Samueli still remains on leave from UCLA and he continues to be listed on the Electrical and Computer Engineering Department faculty roster. [12]

Anaheim Ducks ownership

In 2003, the Samuelis purchased the management contract for the Arrowhead Pond of Anaheim sports and entertainment venue, creating Anaheim Arena Management, LLC, to oversee all operations of the arena, and in 2005 they purchased the Mighty Ducks of Anaheim National Hockey League (NHL) club, the arena's largest tenant, from the Walt Disney Company [13] for $75 million. In 2006, the Samuelis announced the team's name change to the Anaheim Ducks and the arena's name change to Honda Center. [14] In 2007 the Anaheim Ducks became the first California team ever to win the Stanley Cup championship. [15]

As of December 2016, Samueli is on the executive committee of the NHL Board of Governors. [16]

In 2015 the Samuelis acquired ownership of the Ducks' American Hockey League affiliate, the Norfolk Admirals. They subsequently moved the franchise to San Diego as part of the AHL's western expansion that year and the team was re-branded as the fourth incarnation of the San Diego Gulls. [17]

In 2017 Forbes reported the Anaheim Ducks were worth $415 million. [18]

Philanthropy

Henry Samueli School of Engineering and Applied Science at UCLA Samueli UCLA.jpg
Henry Samueli School of Engineering and Applied Science at UCLA

After Broadcom went public in 1998 the Samueli Foundation was created. [19] The foundation focuses its giving in the areas of education, health, youth services, and Jewish culture and values. In 2012 the Samuelis joined the Giving Pledge, [20] initiated by Warren Buffett and Bill and Melinda Gates, whose members pledge the majority of their wealth to philanthropy.

Given Henry Samueli's background in engineering and education, some of their earliest philanthropic gifts were in these areas. In 1999 the Samuelis made major donations to the UCLA School of Engineering and Applied Science and the UC Irvine School of Engineering, both of which have since been named after him.

In 2009 Henry Samueli was a founding director of the Broadcom Foundation, a 501c(3) corporate nonprofit, and he is the chair of this philanthropy that advances science, technology, engineering and math (STEM). Broadcom Foundation sponsors the Broadcom MASTERS (Math, Applied Science, Technology and Engineering for Rising Stars) and the Broadcom MASTERS International, programs of Society for Science and the Public that inspire middle school students to continue math and science courses into high school in order to create pathways to STEM careers. Samueli was inspired by his own seventh grade experience of building a short wave radio from a Heathkit for innovation that he funded the Marconi/Samueli Award for Innovation with his Marconi Award. [5] Henry and Susan Samueli also sponsor the top prize, the $25,000 Samueli Foundation Prize in the Broadcom MASTERS.

A major passion of Susan Samueli is in the areas of complementary and alternative medicine and integrative health and wellness. In 2001 the Samuelis established the Susan Samueli Center for Integrative Medicine at UC Irvine. They have also supported the research of the John Wayne Cancer Institute in Santa Monica, California, in cancer prevention and treatment. [21] [ circular reference ] In 2017, the Samuelis made a transformational $200 million gift to UC Irvine to create the Susan and Henry Samueli College of Health Sciences, a first-of-its-kind College of Health Sciences focused on interdisciplinary integrative health. As part of the gift, the existing Susan Samueli Center for Integrative Medicine was elevated to become the Susan Samueli Integrative Health Institute. [22] [23]

Some of the other major naming gifts of the Samueli Foundation include the Samueli Theater at the Orange County Performing Arts Center in 2000, the Samueli Jewish Campus in Irvine, CA in 2001, the Sala and Aron Samueli Holocaust Memorial Library at Chapman University in 2003, the Samueli Academy, a public Charter High School in Santa Ana, CA for community, underserved, and foster teens in 2013.

In 2015, Samueli received a prize from the Israeli government for his global contribution to innovation and his contribution to innovation in Israel, at the "Innovex" conference for innovation in technology. [24]

Samueli was named a 2017 Fellow by the National Academy of Inventors. Election to NAI Fellow status is the highest professional accolade bestowed to academic inventors. [25]

To date, the Samuelis have committed over $500 million to philanthropic causes. [26]

In June 2019, UCLA announced a $100-million gift from the Samuelis. [27] The gift will be used to expand the engineering school. [27]

Personal life

Samueli resides with his wife Susan in Newport Beach, California. [28] As of September 2024, Forbes estimates Samueli's net worth at $19.0 billion. [29]

Broadcom stock options investigation

During the technology boom in the 2000s, Samueli and Broadcom co-founder Henry T. Nicholas III awarded millions of stock options to attract and reward employees. Prosecutors alleged Samueli and Nicholas granted options to others, including some other top executives, but not themselves, to avoid having to report $2.2 billion in compensation costs to shareholders. [7] In 2006 both the Securities and Exchange Commission and the Department of Justice began investigating Broadcom Corporation for backdating of stock options. [30]

On May 15, 2008, Samueli resigned as chairman of the board and took a leave of absence as Chief Technology Officer after being named in a civil complaint by the SEC. [31]

On June 23, 2008, Samueli pleaded guilty for lying to SEC for $2.2 billion of backdating. Under the plea bargain, Samueli agreed to a sentence of five years probation, a $250,000 criminal fine, and a $12 million payment to the US Treasury.

Prosecutors focused on the fact that Samueli denied under oath any role in making options grants to high-ranking executives. As part of his plea agreement, Samueli admitted the statement was false, and admitted to being part of the options-granting process. [7] However, an internal Broadcom probe laid the majority of blame on CEO Henry Nicholas and CFO William Ruehle.

On September 8, 2008, U.S. District Court Judge Cormac Carney rejected the plea deal that called for Samueli to receive probation, writing: "The court cannot accept a plea agreement that gives the impression that justice is for sale".

Sixteen months later, on December 10, 2009, Judge Carney, after hearing the testimony of all the witnesses at the trial of CFO William Ruehle, dismissed the cases against Samueli, Ruehle, and Nicholas, citing prosecutorial misconduct (and in the case of Samueli, his testimony as well). [32] In his ruling Judge Carney stated,

The uncontroverted evidence at trial established that Dr. Samueli was a brilliant engineer and a man of incredible integrity. There was no evidence at trial to suggest that Dr. Samueli did anything wrong, let alone criminal. Yet, the government embarked on a campaign of intimidation and other misconduct to embarrass him and bring him down. [33]

In the ruling, Judge Carney went on, "Needless to say, the government’s treatment of Dr. Samueli was shameful and contrary to American values of decency and justice." The judge ordered Samueli's plea agreement to be expunged from his record, further stating, "Dr. Samueli now has a clean slate." [33]

Awards and honors

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References

  1. ↑ "Technion Honors | Technion – Israel Institute of Technology". August 11, 2015. Retrieved December 1, 2017.
  2. ↑ National Chiao Tung University in Taiwan. "蘇麗尹. "Henry Samueli". www.nctu.edu.tw (in Chinese)" . Retrieved December 1, 2017.
  3. ↑ "IEEE Fellows 2000 | IEEE Communications Society".
  4. ↑ "UCLA, School of Engineering. "Henry Samueli Wins 2012 Marconi Prize"". July 22, 2012. Archived from the original on July 22, 2012. Retrieved November 27, 2012.
  5. 1 2 "Henry Samueli – Marconi Society". www.marconisociety.org. October 28, 2012. Retrieved December 1, 2017.
  6. ↑ "The Richest People In The World".
  7. 1 2 3 4 Reckard, E. Scott; Goffard, Christopher (June 24, 2008). "Broadcom co-founder Samueli pleads guilty in stock options fraud case". www.latimes.com.
  8. ↑ "50% of New "Giving Pledge" Donors are Jewish".
  9. ↑ "Henry Samueli, Ph.D. | UCLA Samueli School Of Engineering" . Retrieved September 18, 2019.
  10. ↑ Samueli, H.; Willson, A. (1983). "Nonperiodic forced overflow oscillations in digital filters". IEEE Transactions on Circuits and Systems. 30 (10): 709–722. doi:10.1109/TCS.1983.1085294.
  11. ↑ "Henry Samueli, Ph.D., Co-founder and Chief Technical Officer, Broadcom Corporation on Entrepreneurship | The Henry Samueli School of Engineering at UC Irvine". engineering.uci.edu. Retrieved September 18, 2019.
  12. ↑ "UCLA Electrical and Computer Engineering Department Henry Samueli biography".
  13. ↑ foxsports (November 12, 2009). "NHL Reinstates Henry Samueli as Owner of Ducks Despite Legal Woes". FOX Sports. Retrieved February 10, 2018.
  14. ↑ "Name change set for Mighty Ducks". Orange County Register. January 27, 2006. Retrieved September 18, 2019.
  15. ↑ Jenkins, Lee (June 7, 2007). "Ducks Bring Cup to the West Coast". The New York Times. ISSN   0362-4331 . Retrieved September 18, 2019.
  16. ↑ Wilkins, Cory (December 9, 2016). "Canadiens, Jets owners elected to NHL executive committee". theScore.com. Retrieved February 10, 2018.
  17. ↑ "Ducks Launch American Hockey League Franchise in San Diego".
  18. ↑ Forbes. "The Business Of Hockey". Forbes . Retrieved December 2, 2017.
  19. ↑ "A legacy of giving". uci.edu. September 18, 2017. Retrieved December 18, 2018.
  20. ↑ Loomis, Carol J. (April 19, 2012). "12 more billionaires sign on to Buffett/Gates pledge". Fortune. Retrieved February 10, 2018.
  21. ↑ Henry Samueli
  22. ↑ Hiltzik, Michael (September 22, 2017). "A $200-million donation threatens to tar UC Irvine's medical school as a haven for quacks". Los Angeles Times . Retrieved February 10, 2018.
  23. ↑ "UCI receives $200 million gift". September 18, 2017.
  24. ↑ "The man who connects". Globes . Retrieved February 10, 2018.
  25. ↑ "Henry Samueli is named a 2017 fellow of the National Academy of Inventors". UCI News. December 13, 2017. Retrieved September 25, 2019.
  26. ↑ "UCI News – A legacy of giving". UCI News. September 18, 2017. Retrieved December 2, 2017.
  27. 1 2 Watanabe, Teresa (June 4, 2019). "$100-million gift to UCLA shows growing role of private donors in public universities". Los Angeles Times . Retrieved June 14, 2019.
  28. ↑ "Most Influential 2015: Henry Samueli, Susan Samueli – Orange County Register". Orange County Register. December 26, 2015. Retrieved February 10, 2018.
  29. ↑ "Profile: Henry Samueli". Forbes.com. Retrieved January 8, 2024.
  30. ↑ Gittelsohn, John; Galvin, Andrew (February 19, 2007). "Samueli and Broadcom going different ways". Smarter News, Analysis & Research Communities. Retrieved February 10, 2018.
  31. ↑ "Broadcom execs charged by SEC, take leave of absence – L.A. Biz". L.A. Biz. May 15, 2008. Retrieved February 10, 2018.
  32. ↑ Pfeifer, Stuart (December 10, 2009). "Judge dismisses charge against Broadcom co-founder". Los Angeles Times. Retrieved May 4, 2010.
  33. 1 2 Horton, Scott (December 18, 2009). "Broadcom Prosecution Collapses as Judge Finds Sweeping Misconduct by Federal Prosecutors". Harper's Magazine [Harpers.org]. Retrieved December 26, 2023.
  34. ↑ "Henry Samueli Honored for his Induction into National Academy of Engineering". UCI Samueli School Of Engineering.
  35. ↑ "American Academy of Arts & Sciences Inducts Class of 2004". American Academy of Arts & Sciences. October 9, 2004.
  36. ↑ "Golden Plate Awardees of the American Academy of Achievement". www.achievement.org. American Academy of Achievement.
  37. ↑ "2006 Summit Highlights". American Academy of Achievement.
  38. ↑ "Broadcom's Henry Samueli Connects Success, Philanthropy". U.S. News & World Report.
  39. ↑ "Engineering faculty honored by National Academy of Inventors". Daily Bruin.
  40. ↑ "Alumni Henri Samueli and Reza Rofougaran Awarded the Ellis Island Medal of Honor". UCLA Samueli School Of Engineering.
  41. ↑ "Henry Samueli Receives 2021 IEEE Founders Medal".
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