Richard Rainwater

$2.80 B

Ranked #663 in World

About Richard Rainwater

Richard Edward Rainwater, a notable American investor and philanthropist with a net worth of $3 billion, left an indelible mark on the finance world through his analytically rigorous yet opportunistic investment approach. Born in 1944 in Fort Worth, Texas, Rainwater's career took off at Goldman Sachs before revolutionizing the Bass family's fortune, eventually forming Bass Brothers Enterprises. His strategic investments across various sectors, including the significant stakes in the Walt Disney Company and the oil and gas industry, underscored his knack for identifying undervalued assets. Rainwater, a Stanford Graduate School of Business alum, was diagnosed with progressive supranuclear palsy in 2009, battling the disease until his death in 2015. His generosity shone through contributions exceeding $380 million to charitable causes, with his estate largely bequeathed to his charitable foundation. His legacy persists through his mentorship to notable investors like Eddie Lampert and his substantial philanthropic contributions.

Born

June 15, 1944 in Fort Worth, Texas, U.S.

Died

September 27, 2015 (aged 71)

Source Of Wealth

Real Estate, Energy, Insurance

Industries

Finance And Investments

Citizenship

United States

Education

Bachelor of Arts / Science, The University of Texas at Austin; Master of Business Administration, Stanford University

Spouse

Karen Rainwater (1966-1991), Darla Moore (Married: 1991)

Children

Richard Edward Rainwater was born in Fort Worth, Texas, in 1944. He grew up in a family of entrepreneurs and investors. His father was a successful businessman and investor. Rainwater graduated from R. L. Paschal High School and initiated into Kappa Sigma fraternity at the University of Texas at Austin in 1962. He earned a degree in mathematics in 1966 and was recognized as Kappa Sigma Man of the Year in 1996. Rainwater went on to earn an MBA from Stanford Graduate School of Business in 1968.

Richard Rainwater: Family

Rainwater's first marriage to his high school sweetheart, Karen, ended in divorce in 1991. They had three children together: Matthew, Todd, and Courtney. In 1991, Rainwater married financier Darla Moore and moved to Manhattan. However, they lived apart for most of their marriage.

Richard Rainwater: Career Highlights

Rainwater worked for Goldman Sachs from 1968 to 1970 before becoming the chief investment advisor to the Bass family from 1970 to 1986. During this time, he transformed the Bass family fortune from $50 million to $5 billion. In 1986, he formed Bass Brothers Enterprises with Sid Bass and made several successful investments, including a stake in the Walt Disney Company. Rainwater was known for identifying undervalued assets and creating value through strategic planning. He invested in various sectors, including the oil and gas industry, real estate, and others.

Richard Rainwater: Companies

Some of the notable companies Rainwater invested in include General American Oil Company (1969), Texaco (1984), Walt Disney Company (1984), Ensco (now Valaris Limited) (1986), HCA Healthcare (1988), Texas Rangers (1989), Staubach Company (1989), Mid Ocean Limited (1992), Crescent Real Estate (1994), Mesa Petroleum (1996), and energy stocks and oil futures (late 1990s).

Richard Rainwater: Major Achievements

Rainwater's major achievements include transforming the Bass family fortune, making successful investments in various sectors, and mentoring and supporting investors like Eddie Lampert, Roger Staubach, and David Bonderman.

He was known for his "analytically rigorous but opportunistic" investment style.

Richard Rainwater: Awards & Achievements

Rainwater received several awards and honors, including the Golden Plate Award of the American Academy of Achievement (1992) and the GSB Alumni Association's 2010 Arbuckle Award (2010).

Richard Rainwater: Personal Life & Legacy

Rainwater was a fitness enthusiast who ran marathons and sponsored cars in competitions. He also invested in Canyon Ranch, Pebble Beach Golf Links, and other ventures. In 2009, he was diagnosed with progressive supranuclear palsy, a degenerative brain disorder. Despite his illness, he continued to make charitable contributions and left nearly all of his estate to the Rainwater Charitable Foundation.

Richard Rainwater: Trivia

Rainwater suffered from progressive supranuclear palsy from 2009 until his death in 2015. He donated over $380 million to charitable causes during his lifetime and left most of his estate to his charitable foundation.

Wealth History

Timeline

1944

Richard Edward Rainwater is born in Fort Worth, Texas.

1962

Initiated into Kappa Sigma fraternity at the University of Texas at Austin.

1966

Earns a degree in mathematics from the University of Texas at Austin.

1968

Earns an MBA from Stanford Graduate School of Business.

1968-1970

Works for Goldman Sachs.

1970-1986

Becomes chief investment advisor to the Bass family.

1984

Makes successful investments in Texaco share buyback and Walt Disney Company.

1986

Forms Bass Brothers Enterprises with Sid Bass.

1988

Invests in HCA Healthcare.

1989

Invests in Texas Rangers and Staubach Company.

1991

First marriage to Karen ends in divorce. Marries financier Darla Moore and moves to Manhattan.

1992

Invests in Mid Ocean Limited and receives the Golden Plate Award of the American Academy of Achievement.

1994

Invests in Crescent Real Estate.

1996

Invests in Mesa Petroleum and is recognized as Kappa Sigma Man of the Year.

Late 1990s

Invests in energy stocks and oil futures.

2009

Diagnosed with progressive supranuclear palsy.

2010

Receives GSB Alumni Association's 2010 Arbuckle Award.

2015

Richard Edward Rainwater passes away.

Richard Rainwater : FAQs

What is Richard Rainwater's net worth?

As of 2015, Richard Rainwater's net worth was $2.80 billion.

What are Richard Rainwater's main sources of wealth?

Richard Rainwater's main source of income comes from Real Estate, Energy, Insurance.

In which industry does Richard Rainwater primarily operate?

Richard Rainwater is primarily involved in the Finance And Investments industry.

What is Richard Rainwater educational background?

Richard Rainwater holds a Bachelor of Arts / Science from The University of Texas at Austin and a Master of Business Administration from Stanford University.

Is Richard Rainwater dead?

Yes, Richard Rainwater died on September 27, 2015 (aged 71).

How many children does Richard Rainwater have?

Richard Rainwater has 3 children.

How did Richard Rainwater contribute to the field of investment and philanthropy?

Rainwater mentored and supported notable investors like Eddie Lampert and David Bonderman, made successful investments across various sectors, and donated over $380 million to charitable causes, leaving most of his estate to his charitable foundation.

Can you list some of Richard Rainwater's notable investments throughout his career?

Rainwater's notable investments include the General American Oil Company, Texaco, Walt Disney Company, Ensco, HCA Healthcare, Texas Rangers, and the energy sector in the late 1990s among others.

What was Richard Rainwater's personal life like, and how did it impact his legacy?

Richard Rainwater's personal life included two marriages, fathering three children, and a passion for fitness. His diagnosis with progressive supranuclear palsy led to significant charitable contributions and leaving his estate to the Rainwater Charitable Foundation.