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Paul Wachter

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Paul Wachter
Born1956 (age 60-61)
NationalityUSA
EducationUniversity of Pennsylvania (Wharton School) 1978; Columbia University Law School 1981
SpouseLiza Wachter

Paul Wachter is an American businessman and investment advisor whose clients include Arnold Schwarzenegger,[1] LeBron James,[1] Bono,[2] Beats Electronics LLC co-founder Jimmy Iovine,[3] and Tom Werner, Chairman of the Boston Red Sox and the Liverpool Football Club.[1] He has played a role in high-profile investment deals including the 2002 acquisition of the Boston Red Sox by New England Sports Ventures (now Fenway Sports Group)[4][5] and the 2014 sale of Beats Electronics to Apple.[6] Along with LeBron James, Wachter is among the executive producers of the Starz scripted series, Survivor’s Remorse.[7]

Education

Wachter is a 1981 graduate of Columbia University Law School, where he was a James Kent Scholar and a Harlan Fiske Stone Scholar.[8] He graduated magna cum laude and Beta Gamma Sigma from the Wharton School of the University of Pennsylvania in 1978.[8]

Career

Wachter is founder and CEO of financial and asset management advisory firm Main Street Advisors.[8] The company was founded in 1997.[8] Previously, Wachter was an investment banker for Schroder & Co. Incorporated, Kidder, Peabody & Co. and Bear, Stearns & Company.[8][9]

In 2002, Wachter advised John W. Henry and Tom Werner on the New England Sports Ventures’ acquisition of the Boston Red Sox.[4][5] Henry was principal owner and Werner was executive chairman. In 2001, New England Sports Ventures changed its name to Fenway Sports Group.[10]

Wachter has been LeBron James' financial advisor since 2004.[1] He “routinely connects James with business heavyweights” such as Warren Buffett[1] and has helped James “ink various investment and partnership deals".[9] He negotiated James' notable lifetime Nike deal.[11][12][13] In 2011, Wachter conceived of a deal between James and Fenway Sports Group, which gave James a minority interest in the FSG-owned soccer club Liverpool.[1]

In 2004, then-California governor Arnold Schwarzenegger appointed Wachter to the University of California Board of Regents.[8] Wachter has known Schwarzenegger since the late 1970s and has managed his investments.[9][14] He acted as an advisor and strategist to Schwarzenegger’s 2003 and 2006 campaigns and transition teams.[8]

Wachter is also associated with other investments such as the TPG Growth fund.[15]

Boards

Wachter has served on Time Warner’s board of directors since 2010 and was on the board of Beats Electronics.[8][9] He is Chairman of the Board of the After School All-Stars[16] and served on the American Skiing Company’s board from 1996 to 2008.[8]

Wachter also serves on the boards of Virgin America, Haworth Marketing and Media Company and Content Partners, LLC.[17][18]

References

  1. ^ a b c d e f Bergeron, Elena. "Very smart player". ESPN.com. ESPN. Retrieved 26 May 2015.
  2. ^ Rob Hochschild. "Career Advice from the Advisor to Lebron, Schwarzenegger, and Jimmy Iovine". Berklee. Retrieved 12 May 2016.
  3. ^ Sullivan, Gail (12 June 2014). "Report: LeBron James set for $30 million profit on Apple-Beats deal". The Washington Post. The Washington Post. Retrieved 27 May 2015.
  4. ^ a b Futterman, Matthew (7 April 2011). "LeBron James, Fenway in Deal". The Wall Street Journal. The Wall Street Journal. Retrieved 27 May 2015.
  5. ^ a b Roberts, Daniel (13 April 2011). "LeBron's Liverpool deal: A sign of what's to come". Fortune. Fortune. Retrieved 27 May 2015.
  6. ^ Tweedie, Steven (7 April 2015). "The story of how Jimmy Iovine helped Apple strike a deal for HBO Now". Business Insider. Business Insider. Retrieved 27 May 2015.
  7. ^ O'Connell, Michael (10 October 2014). "Starz Hands 'Survivor's Remorse' a Speedy Renewal". The Hollywood Reporter. The Hollywood Reporter. Retrieved 27 May 2015.
  8. ^ a b c d e f g h i "Regent Paul D. Wachter". University of California. University of California. Archived from the original on 1 October 2013. Retrieved 27 May 2015. {{cite web}}: Unknown parameter |dead-url= ignored (|url-status= suggested) (help)
  9. ^ a b c d Farrell, Maureen (18 July 2014). "Why Time Warner Might Sell: A Board with Lots of Mega-Deal Makers". MoneyBeat. The Wall Street Journal. Retrieved 27 May 2015.
  10. ^ "NESV becomes Fenway Sports Group". Boston.com. Boston.com. 22 March 2011. Retrieved 27 May 2015.
  11. ^ "LeBron James's Nike deal may be worth more than $1 billion". Sports Illustrated. 17 May 2016.
  12. ^ Darren Rovell (8 December 2015). "LeBron James signs lifetime Nike deal". ESPN.
  13. ^ "The man behind LeBron's lifetime deal with Nike". ESPN. 8 December 2015.
  14. ^ Cieply, Michael; Cohn, Gary; Eller, Claudia; Vincent, Roger (10 August 2003). "Schwarzenegger Built a Vast Business Empire". Los Angeles Times. Los Angeles Times. Retrieved 27 May 2015.
  15. ^ de la Merced, Michael J. (26 April 2015). "At TPG, a Low-Profile Fund's Diversity Thrives". DealBook. The New York Times. Retrieved 27 May 2015.
  16. ^ "Paul D. Wachter". After School All-Stars. After School All-Stars. Retrieved 27 May 2015.
  17. ^ "VIRGIN AMERICA EXPANDS BOARD OF DIRECTORS WITH APPOINTMENT OF JENNIFER VOGEL AND PAUL WACHTER". Virgin America. Retrieved 14 August 2015.
  18. ^ "Paul D. Wachter". Time Warner. Retrieved 8 August 2016.
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