Glen Taylor
Glen Taylor | |
|---|---|
| 9th Minnesota Senate Minority Leader | |
| In office January 9, 1985 – January 5, 1987 | |
| Preceded by | James E. Ulland |
| Succeeded by | Duane Benson |
| Minnesota State Senator | |
| In office January 6, 1981 – February 3, 1990 | |
| Personal details | |
| Born | April 20, 1941 |
| Political party | Republican |
| Spouse | Becky Mulvihill |
| Children | Jean, Terri, Taylor Moor, Jeff, and Kendahl |
| Residence(s) | Mankato, Minnesota, United States |
| Alma mater | Minnesota State University Harvard Business School |
| Occupation | Businessman and Entrepreneur Owner, Minnesota Timberwolves and Minnesota Lynx |
Glen A. Taylor (born April 20, 1941) is an American billionaire businessman who is the majority owner of the Minnesota Timberwolves National Basketball Association team, owner of the Minnesota Lynx WNBA basketball team, owner of the Star Tribune, and a former member of the Minnesota Senate.
Early life and education
Taylor was born in Springfield, Minnesota, and grew up on a farm in Comfrey, Minnesota. He graduated from Comfrey High School in 1959, and received a bachelor of science in mathematics, physics and social studies from Minnesota State University, Mankato, in 1962.[1][2] In 1978 he received an executive MBA from Harvard Business School.[3]
During and after college, he worked at Carlson Wedding Service (later Carlson Craft), a Mankato print shop specializing in formal invitations. In 1975, company owner Bill Carlson wanted to retire, and Taylor offered to pay $2 million over the course of 10 years for the company.[4]
Later life
The purchase (which he paid off early) formed the basis for the Taylor Corporation, a privately held multinational printing and electronics company with more than 15,000 employees and based in North Mankato, Minnesota. Taylor continues to serve as chairman and CEO.[4]
Taylor was a Republican Minnesota State Senator from 1981 to 1990, serving as assistant minority leader from 1983 to 1985 and Minority Leader from 1985 to 1988.[3]
In 2014, he purchased the Star Tribune for about $100 million.[5]
Taylor has been ranked No. 149 on the Forbes 400 and his company No. 254 on Forbes ranking of private United States corporations.
In 2015, his net worth was reported by Forbes to be $1.86 billion.[6]
Sports team ownership
Taylor purchased majority ownership of the Minnesota Timberwolves NBA basketball team in 1994 and purchased the Minnesota Lynx WNBA basketball team in 1999. Taylor was in talks to buy the Minnesota Twins but nothing came of it.[3]
In 2000, he was banned for nearly a year for signing Joe Smith to a secret contract in violation of the league's salary cap rules. Before Donald Sterling, Glen Taylor was the only NBA owner to be suspended for more than a couple of games.
In 2005, he was rumored to be a possible buyer for the Minnesota Vikings, but was outbid by Zygi Wilf.
He is currently the chairman of the board of governors for the NBA.
References
- ^ Doug Anderson (September 14, 2015). "Glen Taylor biography". MnSCU Press Releases. Minnesota State Colleges and Universities. Retrieved April 27, 2016.
- ^ "Influential Leaders". American Association of Colleges of Business. Retrieved April 27, 2016.
- ^ a b c "Glen Taylor". Twin Cities Business Magazine. July 1, 2002. Retrieved April 27, 2016.
- ^ a b "Taylor Corporation Website: About Glen Taylor". Taylor Corporation. Retrieved April 27, 2016.
- ^ "July 1, 2014: Glen Taylor finalizes purchase of Star Tribune". StarTribune.com. July 1, 2014. Retrieved September 27, 2015.
- ^ "Glen Taylor". Forbes. Retrieved September 27, 2015.
External links
- 1941 births
- American billionaires
- American businesspeople
- Living people
- Minnesota Timberwolves owners
- Minnesota Lynx owners
- Minnesota State University, Mankato alumni
- Harvard Business School alumni
- National Basketball Association executives
- National Basketball Association owners
- Politicians from Mankato, Minnesota
- Women's National Basketball Association executives
- Minnesota State Senators
- Minnesota Republicans
- 21st-century American newspaper publishers (people)