Fayez Sarofim

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Fayez Sarofim
Born1929 (age 88–89)
Egypt
NationalityAmerican
Alma materUniversity of California Berkeley
Harvard Business School
Net worthUS$ 1.51 billion (September 2015)[1]
Spouse(s)Louisa Stude (divorced)
Linda Hicks (divorced)
Susan Krohn
Childrenwith Stude:
--Christopher Sarofim
--Allison Sarofim
with Hicks:
--Andrew Sarofim
--Phillip Sarofim
-- Maxwell Sarofim
--stepson

Fayez Sarofim (Egyptian Arabic: فايز صاروفيم‎) (born 1929) is a Coptic American heir to the Sarofim family fortune, fund manager for a number of Dreyfus family stock funds, an original and second largest shareholder of Kinder Morgan (NYSE: KMI) and part owner of the NFL team Houston Texans; ranked 5th Most Valuable NFL team worth $1.85 billion.[2] He is divorced with five children, and lives in Houston, Texas. With an estimated current net worth of $1.91 billion, Sarofim is ranked by Forbes as the 847-richest person in the world, in 2015. His investment firms oversee over $30 billion in assets.

Early life[edit]

Fayez Shalaby Sarofim was born in 1929 in Cairo, into Egyptian nobility. As the son of an Egyptian aristocrat and agricultural magnate, Sarofim lived a life among Egypt's political and wealthy elite, in modern Heliopolis. As a Bey (equivalent to European peerage title Marquess)[citation needed], Sarofim's father held large feudal and Egyptian cotton estates throughout North Africa. Sarofim came to the United States in 1946 and became a naturalized American citizen in 1961. After, earning degrees from the University of California Berkeley, and Harvard Business School, Sarofim took a job with cotton company Anderson, Clayton and Company in Houston.[3]

Career[edit]

In August 1958, he founded Fayez Sarofim & Company, a Houston investment firm. In 1997, he was inducted into the Texas Business Hall of Fame. Sarofim is ranked third on the most influential Egyptian Americans. The Sarofim family is recorded in Burke's Peerage and the 'Imperial and Asiatic quarterly review and oriental and colonial record'.[citation needed]

Philanthropy and political donations[edit]

His philanthropic efforts provide vital assistance to critical institutions and programs in a number of fields. Sarofim is a major contributor to the Houston Ballet and the Museum of Fine Arts, a favorite of his daughter Allison. He has provided support to Memorial Sloan–Kettering Cancer Center, the Texas Children’s Hospital and the University of Texas Health Science Center at Houston for construction of the $120 Million environment friendly, Fayez S. Sarofim Research Building. Sarofim also has made financial gifts to the Houston Grand Opera, the Houston Symphony, donating high seven figures to the Hobby Center for the Performing Arts, creating the 2600 seat, Sarofim Hall, designed for touring Broadway shows, the Alley Theatre, and the Los Angeles Opera.[citation needed]

Sarofim was a major supporter of Jeb Bush's 2016 presidential candidacy.[4]

Personal life[edit]

Sarofim has been married three times. In 1962, he married Louisa Stude, adopted daughter of Herman Brown, founder of Brown and Root;[3] they had two children: Christopher Sarofim and Allison Sarofim.[3]

In 1984, he had a son, Andrew Sarofim, with Linda Hicks, a former employee at his company.[3] In 1986, they had another son, Phillip Sarofim; and in 1989, she had another child with a different father whom Sarofim adopted.[3] In 1990, he divorced his first wife who received a $250 million divorce settlement.[3] In 1990, he married Hicks;[3] in 1996, they divorced with Hicks receiving a $12 million settlement.[3] Hicks later died while climbing Mount Kilimanjaro.[3]

In December 2014, he married Susan Krohn, the ex-wife of fellow billionaire Tracy Krohn, and mother of his son Phillip's wife Lori Krohn.[5][6]

References[edit]

  1. ^ Forbes The World's billionaires: Fayez Sarofim 8 September 2017
  2. ^ Forbes NFL Valuation August 2015
  3. ^ a b c d e f g h i Texas Monthly: "Can’t Buy Me Love" by Skip Hollandsworth October 2000
  4. ^ O'Keefe, Ed (24 March 2015). "George H. W. Bush, Barbara Bush to attend Houston fundraiser for Jeb Bush". Washington Post. Retrieved 15 October 2015.
  5. ^ Houston Culture: "Houston billionaire weds son's mother-in-law at his Hawaii retreat with lavish New Year luau" By Shelby Hodge January 15, 2015
  6. ^ Daily Mail: "Texas billionaire, 85, set to marry his son's mother-in-law 'after being introduced by their children'" by Joel Christie July 18, 2014