Robert Bass

Last updated
Robert Muse Bass
Born (1948-03-19) March 19, 1948 (age 76)
Fort Worth, Texas, US
Education Yale University (BA)
Stanford University (MBA)
Occupation(s)Businessman, philanthropist
SpouseAnne Thaxton Bass (m. 1970)
Children4
Parent(s) Perry Richardson Bass
Nancy Lee Bass
Relatives

Robert Muse Bass (born 19 March 1948 [1] ) is an American billionaire businessman and philanthropist. He was the chairman of Aerion Corporation, an American aerospace firm in Reno, Nevada. [2] In 2018, he had a net worth of $5 billion. [3] Bass has served on the Texas Highway & Public Transportation Commission. [4]

Contents

Early life

Robert Muse Bass was born on 19 March 1948 in Fort Worth, Texas. His father, Perry Richardson Bass, was an investor, philanthropist and sailor. His mother, Nancy Lee Bass, was a philanthropist. He has three brothers: Lee Marshall Bass, Ed Bass, and Sid Bass. His uncle is Sid Richardson.[ citation needed ]

Bass attended The Governor's Academy, and graduated from Yale University, where he received a bachelor of arts degree. [5] He received a master in business administration from the Stanford Graduate School of Business. [5]

Career

Bass's father founded Bass Brothers Enterprises in 1960 after inheriting $11 million from his great uncle Sid W. Richardson in 1959. [6]

In 1985, Robert Bass founded the Robert M. Bass Group as his personal investment company. [4] In 1990, it was renamed Keystone, Inc., after the Keystone Field in West Texas from which the Bass family derived their fortune. [7] He founded Oak Hill Capital Partners as a family office in 1986. [8]

In April 1987, Bass and other owners of TFBA Limited Partnership bought and took private Taft Broadcasting for $1.43 billion. [9]

In March 1988, Bass sold the Plaza Hotel to Donald Trump, thanks to their mutual friend Tom Barrack. [10] In April 1988, he led a buy-out of Bell & Howell. [11] In June 1988, Bass made an offer to purchase Macmillan Inc., the publishing and information company, but the company responded with a restructuring. [4]

Bass formerly served as chairman of the board at Aerion Supersonic, a developer of supersonic business jets. Bass was replaced by Tom Vice as chairman upon the announcement of a partnership between Boeing and Aerion on February 5, 2019. It is reported Boeing invested several hundred million dollars for an approximate 40 percent share in Aerion. [12]

Philanthropy

Bass has served as chairman of Stanford University's board of trustees, [5] Stanford Management Company, the National Trust for Historic Preservation, and Cook Children’s Medical Center . He is a trustee of Stanford University, [5] a director of Stanford Management Company, a trustee of the Brookings Institution, [13] a trustee of Rockefeller University, Groton School, Middlesex School, and the Amon Carter Museum.

Bass and his wife Anne donated $13 million to fund the renovation of Yale's Cross Campus Library, which was renamed the Bass Library. [14] In 2005, they donated $30 million to the Stanford Graduate School of Business. [15] In 2013, they donated $50 million to Duke University to support Bass Connections, an initiative to encourage cross-disciplinary collaboration and studies. [16] In 2001, Bass and his wife donated $10 million to Duke to strengthen undergraduate teaching. They also donated $10 million in 1996 to establish the Bass Society of Fellows at Duke. [17] They also contributed to the creation of Bass Hall in Downtown Fort Worth (performing arts venue located in Fort Worth, Texas that routinely hosts musical and theatrical performances). [18]

Personal life

Bass is married to Anne T. Bass. [5] They have four children. [2] One daughter, Margaret, was featured in a Wall Street Journal article as an example of a student whose wealth and family connections helped her receive admission to an elite university. [19] [20] They reside in the town of Westover Hills near Fort Worth, Texas, and also have homes in New York City and in Washington, D.C. [21] [22] [23] They also have a home in Seal Harbor on the southeast side of Mount Desert Island, Maine (south of Acadia National Park). [24]

Related Research Articles

<span class="mw-page-title-main">Lawrence Academy (Groton, Massachusetts)</span> School in Groton, Massachusetts, United States

Lawrence Academy at Groton is a private, nonsectarian, co-educational college-preparatory boarding school located in Groton, Massachusetts. Founded in 1792 as Groton Academy and chartered in 1793 by Governor John Hancock, Lawrence is the tenth-oldest boarding school in the United States and the third-oldest in Massachusetts, following The Governor's Academy (1763) and Phillips Academy at Andover (1778).

Sid Richardson Bass is an American billionaire investor and philanthropist.

The Aerion SBJ was a supersonic business jet project designed by American firm Aerion Corporation. Unveiled in 2004, the designer sought a joint venture with a business aircraft manufacturer for a $1.2–1.4 billion development in 7–8 years. Aerion received 50 letters-of-intent before enlarging the design as the Aerion AS2 in 2014. Powered by two Pratt & Whitney JT8D-219 engines, the $80 million aircraft was to transport 8–12 passengers up to Mach 1.6 and up to 4,000 nmi (7,400 km).

Aerion Corporation was an American aircraft manufacturer based in Reno, Nevada. It was founded by Robert Bass of Fort Worth.

Richard Edward Rainwater was an American investor and philanthropist. With an estimated net worth of $3 billion, he ranked 211th on the Forbes 400 in 2015.

Sid Williams Richardson was an American businessman and philanthropist known for his association with the city of Fort Worth.

Lee Marshall Bass is an American heir, businessman and philanthropist.

<span class="mw-page-title-main">David Rubenstein</span> American lawyer and businessman (born 1949)

David Mark Rubenstein is an American lawyer, businessman, and philanthropist. A former government official, he is a co-founder and co-chairman of The Carlyle Group, a private equity firm based in Washington, D.C. Rubenstein is also the principal owner of the Baltimore Orioles of Major League Baseball (MLB), acquiring the team in 2024 for $1.7 billion.

<span class="mw-page-title-main">Mitchell Rales</span> American businessman and art collector (born 1956)

Mitchell P. Rales is an American businessman and art collector. He co-founded Danaher Corporation with his brother Steven Rales in 1984 and the art museum Glenstone with his wife Emily Wei in 2006. Rales is also the chairman of ESAB, and the top limited partner of the Washington Commanders of the National Football League (NFL). His net worth was estimated by Forbes in mid-2024 to be $4.8 billion.

Edward Perry "Ed" Bass is an American businessman, financier, philanthropist and environmentalist who lives in Fort Worth, Texas. He financed the Biosphere 2 project, an artificial closed ecological system, which was built between 1987 and 1991. He is the chairman of Fine Line, an investment and venture-capital management firm in Fort Worth, and chairman of the board of directors of the Sid W. Richardson Foundation, a philanthropic organization. He was listed as #239 on the Forbes 400 list of wealthiest Americans in 2012, with an estimated net worth of $2 billion.

Robert H. Dedman Sr. (1926–2002) was an American businessman and philanthropist. He is best known as the founder and past chairman of ClubCorp.

<span class="mw-page-title-main">Aerion AS2</span> Cancelled supersonic business jet by Aerion Corporation

The Aerion AS2 was a proposed supersonic business jet that was being developed by Aerion Corporation. In May 2014, it was announced that the Aerion AS2 would be part of a larger Aerion SBJ redesign, which aimed for release after a seven-year developmental period. Aerion partnered with Airbus in September the same year. In December 2017, Airbus was replaced by Lockheed Martin. Its General Electric Affinity engine was unveiled in October 2018. In February 2019, Boeing replaced Lockheed Martin. Development stopped when Aerion ceased operations in May 2021.

<span class="mw-page-title-main">Perry Richardson Bass</span> American billionaire, philanthropist and patriarch to the Bass Brothers of Fort Worth

Perry Richardson Bass was an American heir, investor, philanthropist and sailor.

Nancy Lee Bass (1917–2013) was an American philanthropist. She was known as the "First Lady of Fort Worth, Texas."

Mercedes Bass is an Iranian-American philanthropist and socialite active in New York City, Aspen, Colorado and Fort Worth, Texas. She has supported the Metropolitan Opera, and is a trustee of the Aspen Institute and the American Academy in Rome.

Anne Windfohr Marion was an American heiress, rancher, horse breeder, business executive, philanthropist, and art collector from Fort Worth, Texas. She served as the president of Burnett Ranches and the chairman of the Burnett Oil Company. She was the founder of the Georgia O'Keeffe Museum in Santa Fe, New Mexico. In 1981, she was inducted into the Hall of Great Westerners of the National Cowboy & Western Heritage Museum.

Anne Hyatt Hendricks Bass was an American investor, documentary filmmaker, and art collector. She was the former wife of billionaire oilman Sid Bass. She directed the 2010 documentary film Dancing Across Borders. She was a patron of the arts in New York City and Fort Worth, Texas.

<span class="mw-page-title-main">David M. Schwarz</span> American architect and designer (born 1951)

David M. Schwarz is an American architect. He is the President & CEO of Washington, D.C.–based David M. Schwarz Architects, Inc. and serves as the chairman of the Yale School of Architecture's Dean's Council.

Robert B. Menschel (1930–2022) was an American investment banker and philanthropist. He had a 50-year relationship with Goldman Sachs as a partner or senior director. The author of a financial book, and the winner of the 2015 Carnegie Medal of Philanthropy.

References

  1. ↑ Current Biography Yearbook 1989, p39
  2. 1 2 "Forbes Profile: Robert Bass". Forbes . Retrieved 15 September 2017.
  3. ↑ "The Richest People in America". Forbes. Archived from the original on September 24, 2010. Retrieved 2015-07-29.
  4. 1 2 3 Applebome, Peter (June 5, 1988). "TEXAS DEAL MAKER: Robert M. Bass; A Younger Brother Steps Out on His Own". New York Times. Retrieved July 3, 2016.
  5. 1 2 3 4 5 Sullivan, Kathleen J. (August 9, 2013). "Robert M. Bass returning to Stanford's Board of Trustees". Stanford News. Retrieved July 22, 2016.
  6. ↑ Leslie Wayne, Perry R. Bass, 91, Patriarch of Famed Texas Oil Family, Dies, The New York Times , June 2, 2006
  7. ↑ Elkind, Peter (24 November 1991). "The Breakup of the Bass Brothers". The New York Times. Retrieved 14 May 2024.
  8. ↑ Flynn, Mary Kathleen (20 September 2018). "Private equity firms embrace big data: Two Six Capital, Oak Hill, Clarion". The Middle Market. Retrieved 14 May 2024.
  9. ↑ Applebome, Peter (5 June 1988). "TEXAS DEAL MAKER: Robert M. Bass; A Younger Brother Steps Out on His Own". The New York Times. Retrieved 14 May 2024.
  10. ↑ Segal, David (January 16, 2016). "What Donald Trump's Plaza Deal Reveals About His White House Bid". The New York Times. Retrieved July 22, 2016.
  11. ↑ "Group Led by Robert Bass Offers $602 Million for Bell & Howell". The Los Angeles Times. November 26, 1987. Retrieved July 22, 2016.
  12. ↑ "Boeing Partners with Aerion, Bets big on Supersonics". AINonline. February 5, 2019. Retrieved February 5, 2019.
  13. ↑ "Board of Trustees". brookings.edu. 22 July 2016.
  14. ↑ "Viewers of Le's records may be fired | Yale Daily News | Page 21937". Yale Daily News. 2009-10-07. Archived from the original on 2009-01-13. Retrieved 2015-07-29.
  15. ↑ Archived December 11, 2010, at the Wayback Machine
  16. ↑ "New Initiative Prepares Students for Society's Challenges | Duke Today". Today.duke.edu. 2013-01-22. Retrieved 2015-07-29.
  17. ↑ "$10 Million Gift for Undergrad Education | Duke Today". Today.duke.edu. 2001-01-26. Retrieved 2015-07-29.
  18. ↑ "Bass Performance Hall - Official Website | Home". www.basshall.com. Retrieved 2021-03-16.
  19. ↑ "For Groton Grads, Academics Aren't Only Keys to Ivy Schools". wsj.com. Retrieved 2015-12-29.
  20. ↑ "Connections to University can affect admissions decision". stanforddaily.com. 13 March 2013.
  21. ↑ "Robert Bass". forbes.com.
  22. ↑ "Robert and Anne Bass live in historic house in Washington, D.C." mcclatchydc.com.
  23. ↑ "Drop the $8 M.: Robert Bass Pays Shocking $42 Million for Mezzacappa's 834 Fifth Place". observer.com. 13 February 2012.
  24. ↑ "Billionaire Funds New Faculty Positions at COA". Bangor Daily News. 28 June 2011. Retrieved 2019-08-23.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.