Arpad Busson

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Arpad Busson
Born (1963-01-27) 27 January 1963 (age 51)
Boulogne-Billancourt, France
Occupation Financier, Philanthropist
Partner(s) Elle Macpherson
(1996–2005)
Uma Thurman
(2007–2009; 2011–2014)
Children 3

Arpad A. Busson (born 27 January 1963) is a London-based French financier. Busson entered the world of hedge funds in 1986 working in New York.[1] He is the founder and Chairman of the EIM Group, a fund of funds company. Busson is also active in a number of philanthropic causes around the globe. According to prestigious French business magazine Challenges, financier Arpad Busson is a multi-millionaire with a net worth of €150 million at 2013.

Early life[edit]

Arpad Busson's father Pascal Busson was a former French army officer and Algeria veteran, and later turned financier.[citation needed] His mother, Florence "Flockie" Harcourt-Smith, was an English former debutante.[citation needed] His aunt, Joanna Harcourt-Smith, was a companion of Timothy Leary, who coincidentally was married in the early 1960s to the mother of Arpad's partner, Uma Thurman.[2] His parents met in Paris and named their son after the Hungarian-born banker Árpád Plesch (1889–1974), who was not only Florence Busson's stepfather (he was the second husband of her mother, Marysia Ulam Krauss Harcourt-Smith), but also her stepgrandfather (Plesch's first wife was his second wife's mother, Leonie Caro Ulam).[3] Plesch was a mentor to Italy's richest man, Gianni Agnelli, the late head of Fiat.[4]

Growing up in France, some sources have suggested that Busson made early profits selling toothpicks door-to-door (which he denies),[5] but he was educated in France and at the Institut Le Rosey in Switzerland. He then served national service as a medic in the French army, where a friend said: "He loved the discipline of the army - it was the making of him.".[6]

On being demobilised, Busson had a well-publicised relationship with the actress Farrah Fawcett and appeared in tabloid gossip columns.[citation needed] As he often refuses to give interviews, stories surround Busson - the story about Fawcett is that they met on the French Riviera. The story is only partly true, in that it was perpetuated by the gossip columnist "Taki" as a sort of in-joke: Taki knew Busson's mother, who was friends with Fawcett.[5]

Finance career[edit]

Busson entered the world of hedge funds in 1986 working with Dubin Swieca.[7] He was later employed as a marketing representative for Paul Tudor Jones's fund Tudor Investments.

In 1991, Busson founded the EIM Group to provide fund-of-fund management services to the growing institutional market for hedge funds.[8] On 8 December 2008, EIM Group was reported as being a victim of Bernie Madoff's Ponzi scheme.[9]

Charity[edit]

Busson is a proponent of "venture philanthropy",[citation needed] which seeks to multiply the effectiveness of charitable pursuits by applying to them the same management practices which are used in business ventures.

He is a founding trustee of the children's charity ARK (Absolute Return for Kids) and serves as chairman of its board of directors. Busson held the post of Chairman since the charity's inception. He stepped down from that position in 2009 but remains a member of the Board as founding chairman, and as chairman of ARK US. ARK raises charitable contributions from the hedge fund industry for children who are victims of abuse, disability, illness and poverty.[citation needed] ARK finances and manages projects aimed at transforming the lives of children in Eastern Europe, South Africa and the UK through education and healthcare.[citation needed]

The annual Ark Dinner hosted by Busson sees a range of high profile individuals attend the event to raise money for the charity. Previous years have seen the likes of Bill Clinton (2006),[10] Queen Rania of Jordan (2010)[11] and in 2011 the Duke and Duchess of Cambridge took the limelight as Prince William announced a joint venture by the Foundation of Prince William and Prince Harry and the Ark charity.[12]

Its activities include funding treatment for AIDS victims in Africa, taking children out of care in Bulgaria and Romania and developing educational opportunities for disadvantaged children in India.[13] It also operates eight academies, six of which are in London, through its subsidiary charity ARK Academies.[14]

Busson says of ARK, "If we can apply the entrepreneurial principles we have brought to business to charity, we have a shot at having a really strong impact, to be able to transform the lives of children."[4]

He is a patron of the Elton John AIDS Foundation[15] and a founding member of Theodora Children's Trust, a charity which brings music, magic and laughter to children in hospital through visits from performers known as "Giggle Doctors".

Personal life[edit]

Busson began a relationship with Australian supermodel Elle Macpherson in 1996.[16] They have two sons together: Arpad Flynn Busson, known as Flynn (born February 1998 in New York City),[17] and Aurelius Cy Andrea Busson (born February 2003 in London).[18] The family lived together in London until Busson and Macpherson's separation in July 2005.[16]

Busson began dating American actress Uma Thurman in 2007[19] and they announced their engagement in June 2008.[20] In December 2009, it was reported that the two had ended their engagement,[21] but they reconciled soon after.[22] Busson and Thurman have one daughter together, Rosalind Arusha Arkadina Altalune Florence Thurman-Busson, known as Luna (born July 2012 in New York City).[23] The couple reportedly called off the engagement for the second time in April 2014.[24]

In 2006, Busson was voted the seventh most wanted person at a party in the UK, according to Tatler; Macpherson was voted in at eleventh.[25]

References[edit]

  1. ^ Costello, Miles (2007-12-31). Monday manifesto: Arpad Busson; retrieved 29 June 2008 from http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3111342.ece
  2. ^ Etti (Mrs Arpad) Plesch, Horses & Husbands: The Memoirs of Etti Plesch, Dorset: Dovecote Press, pages 130-139
  3. ^ Etti (Mrs Arpad) Plesch, Horses & Husbands: The Memoirs of Etti Plesch, Dorset: Dovecote Press, pgs. 130-139
  4. ^ a b EducationGuardian.co.uk (29 May 2005). "Can this 'venture philanthropist' save our schools?". London: The Observer. Retrieved 18 May 2008. 
  5. ^ a b Walsh, Katie (18 May 2008). "Arpad Busson, a hedge fund 'hippy'". London: The Sunday Times. Retrieved 18 May 2008. 
  6. ^ Cobain, Ian (6 July 2005). "From playboy to playgrounds: the speculator turned philanthropist with big plans for pupils". The Guardian (London). Retrieved 25 April 2010. 
  7. ^ "EIM targets institutional market". Retrieved 26 June 2013. 
  8. ^ "EIM Group - The Firm". eimgroup.com. Retrieved 6 September 2012. 
  9. ^ "Bernard Madoff 'fraud': Betrayed by their best friend". The Daily Telegraph (London). 19 December 2008. 
  10. ^ Cahill, Tom; Baker, Stephanie. "Queen Rania, the Killers Help Ark to Raise 14 Million Pounds". bloomberg.com. Retrieved 13 June 2011. 
  11. ^ "BUSINESS GRANDEES RUB SHOULDERS WITH CELEBS AT ARK EXTRAVAGANZA". cityam.com. Archived from the original on 29 June 2011. Retrieved 13 June 2011. 
  12. ^ "A rich man but a 'pretty poor playboy'". The Daily Telegraph (London: TMG). 11 June 2011. ISSN 0307-1235. OCLC 49632006. Retrieved 13 June 2011. 
  13. ^ Walsh, Katie (2008-05-18). "Arpad Busson, a hedge fund 'hippy'". London: The Sunday Times. http://business.timesonline.co.uk/tol/business/industry_sectors/support_services/article3952782.ece. Retrieved 2008-05-18.
  14. ^ ARK Academies, Registered Charity no. 1111608 at the Charity Commission
  15. ^ Elton John AIDS Foundation patrons
  16. ^ a b Silverman, Stephen M. (2005-06-24). "Supermodel Elle Macpherson, Partner Split". People. Retrieved 17 July 2013. 
  17. ^ "Elle Macpherson Gives Birth To Son In Manhattan". Chicago Tribune. 1998-02-17. Retrieved 17 July 2013. 
  18. ^ "Elle's new baby Aurelius". Sunday Morning Herald. 2003-02-07. Retrieved 17 July 2013. 
  19. ^ Singh, Anita (27 June 2008). "Actress Uma Thurman Engaged to Arpad Busson". Daily Telegraph (London). Retrieved 17 July 2013. 
  20. ^ Lye, Bethany (27 June 2008). "Uma Thurman Engaged to Multimillionaire". People. Retrieved 17 July 2013. 
  21. ^ "Uma Thurman Calls Off Engagement". People. 8 December 2009. Retrieved 17 July 2013. 
  22. ^ Leonard, Elizabeth (27 February 2012). "Uma Thurman Expecting Third Child". People. Retrieved 17 July 2013. 
  23. ^ "Uma Thurman Daughter’s Name Revealed". People. 17 October 2012. Retrieved 17 July 2013. 
  24. ^ "Uma Thurman and Arpad Busson Call Off Engagement Again". Seattle Post-Intelligencer. 22 April 2014. Retrieved 23 April 2014. 
  25. ^ "Camerons top Tatler party charts". BBC News. 3 July 2006. Retrieved 25 April 2010. 

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