Ted Forstmann

$1.60 B

Ranked #782 in World

About Ted Forstmann

Theodore Joseph Forstmann (1940-2011), a pivotal figure in the finance sector, co-founded Forstmann Little & Company, a leading private equity firm, and served as the Chairman and CEO of IMG, a major global sports and media company. Born in Greenwich, Connecticut, Forstmann's legacy extends beyond his professional achievements; he was a staunch Republican, billionaire philanthropist, and advocate for school choice, significantly contributing to scholarship programs for underprivileged children. His career highlights include pioneering significant investments in companies like Gulfstream Aerospace and Dr. Pepper, and coining the term "barbarians at the gates" in critique of leveraged buyouts. Despite his never marrying, Forstmann's personal life was marked by his adoption of two South African boys and a high-profile relationship with Padma Lakshmi. His commitment to civic life and education reform was evident through his co-founding of the Children's Scholarship Fund. Forstmann's foresight into the credit crisis of 2008 further cements his status as a visionary in the financial world. He passed away in November 2011 after battling brain cancer, leaving behind a net worth of US$ 1.6 billion.

Born

February 13, 1940 in Greenwich, Connecticut, U.S.

Died

November 20, 2011 (aged 71)

Source Of Wealth

Sports Management

Industries

Investments

Citizenship

United States

Education

Bachelor of Arts / Science, Yale University; Doctor of Jurisprudence, Columbia University

Children

Theodore Joseph Forstmann was born on May 1, 1940, in Greenwich, Connecticut. His parents were Dorothy (née Mercadante) and Julius Forstmann. He was of German and Italian ancestry. Forstmann attended Greenwich Country Day School, Phillips Academy, and Yale University, where he graduated with a Bachelor of Arts degree in history in 1962. He then went on to earn a Juris Doctor from Columbia Law School in 1965.

Ted Forstmann: Family

Theodore Forstmann was the son of Dorothy (née Mercadante) and Julius Forstmann. He had two brothers, Nicholas and Brian. Forstmann never married but adopted two boys from South Africa. He was in a relationship with Padma Lakshmi, who later gave birth to a daughter fathered by Adam Dell.

Ted Forstmann: Career Highlights

Theodore Forstmann co-founded Forstmann Little & Company, a private equity firm, in 1978 with his brothers Nicholas and Brian Little. The firm made 31 acquisitions and significant investments, returning over $15 billion of profits to investors. Notable investments include Gulfstream Aerospace, Dr. Pepper, Topps, and Citadel Broadcasting.

Forstmann is also known for coining the term "barbarians at the gates" to describe leveraged buyouts. He was featured in the book and film "Barbarians at the Gate" as a critic of junk bonds. Forstmann accurately predicted the worsening of the credit crisis in 2008.

Ted Forstmann: Companies

Theodore Forstmann was the co-founder and chairman of Forstmann Little & Company, a private equity firm. He was also the chairman and CEO of IMG, a global sports and media company.

Ted Forstmann: Major Achievements

Theodore Forstmann was a successful businessman and philanthropist. He was a prominent supporter of school choice and education reform, co-founding the Children's Scholarship Fund with John T. Walton. Forstmann was also active in the Republican Party, serving as co-chairman of George H. W. Bush's re-election campaign.

Ted Forstmann: Awards & Achievements

Theodore Forstmann received the "Patron of the Arts Award" from the National Academy of Popular Music.

He was also recognized for his philanthropic efforts, including his support for school choice and education reform.

Ted Forstmann: Personal Life & Legacy

Theodore Forstmann was never married but adopted two boys from South Africa. He was in a relationship with Padma Lakshmi, who later gave birth to a daughter fathered by Adam Dell. Forstmann was the subject of alleged phone bugging by U.S. intelligence agencies in connection with Princess Diana. He was diagnosed with brain cancer in 2011 and passed away in November 2011. Forstmann had a net worth of US$ 1.6 billion as of 2011.

Ted Forstmann: Trivia

Theodore Forstmann was a billionaire, Republican, and philanthropist. He supported school choice and funded scholarship programs for the disadvantaged. Forstmann also led a tour of refugee camps in the former Yugoslavia.

Wealth History

Timeline

1940

Theodore Joseph Forstmann is born in Greenwich, Connecticut.

1978

Forstmann co-founds Forstmann Little & Company with brothers Nicholas and Brian Little.

1989

Forstmann coins the term "barbarians at the gates" to describe leveraged buyouts.

1993

Forstmann is featured in the book and film "Barbarians at the Gate" as a critic of junk bonds.

1997

Forstmann co-founds the Children's Scholarship Fund with John T. Walton.

2008

Forstmann accurately predicts the worsening of the credit crisis.

2011

Forstmann is diagnosed with brain cancer and passes away in November.

Ted Forstmann : FAQs

What is Ted Forstmann's net worth?

As of 2011, Ted Forstmann's net worth was $1.60 billion.

What are Ted Forstmann's main sources of wealth?

Ted Forstmann's main source of income comes from Sports Management.

In which industry does Ted Forstmann primarily operate?

Ted Forstmann is primarily involved in the Investments industry.

What is Ted Forstmann educational background?

Ted Forstmann holds a Bachelor of Arts / Science from Yale University and a Doctor of Jurisprudence from Columbia University.

Is Ted Forstmann dead?

Yes, Ted Forstmann died on November 20, 2011 (aged 71).

How many children does Ted Forstmann have?

Ted Forstmann has 2 children.

Who was Theodore Joseph Forstmann and what was his role in the business world?

Theodore Joseph Forstmann (1940-2011) was a co-founder of Forstmann Little & Company, a private equity firm, and served as the Chairman and CEO of IMG, a global sports and media company. He was known for his significant contributions to the field of private equity and his leadership in the global business arena.

What were Theodore Forstmann's contributions to education and philanthropy?

Theodore Forstmann was a staunch supporter of school choice and played a pivotal role in funding scholarship programs for disadvantaged students. He co-founded the Children's Scholarship Fund with John T. Walton, aiming to provide educational opportunities to children in need.

How did Theodore Forstmann impact the finance industry?

Theodore Forstmann coined the term "barbarians at the gates" to describe leveraged buyouts, showcasing his critical stance on junk bonds. He made notable predictions about the credit crisis in 2008, highlighting his deep understanding and foresight in financial matters.

What were some of Theodore Forstmann's personal life highlights and challenges?

Theodore Forstmann never married but adopted two boys from South Africa. He had a relationship with Padma Lakshmi, who later had a daughter fathered by Adam Dell. His personal life also faced challenges, including being diagnosed with brain cancer in 2011, leading to his passing in November 2011. He had a net worth of US$ 1.6 billion at the time of his death.