John C. Malone
|John C. Malone|
|Born||John Carl Malone
March 7, 1941
Milford, Connecticut, United States
|Residence||Parker, Colorado, United States|
|Education||Yale University (B.A.)
New York University (M.S.)
Johns Hopkins University (M.S., Ph.D)
|Known for||Media proprietorship, philanthropy|
|Net worth||US$7.2 billion (January 2017)|
|Children||Tracy Amonette, Evan Malone|
|Parent(s)||Daniel L. Malone|
John Carl Malone (born March 7, 1941) is an American billionaire businessman, landowner and philanthropist. He was chief executive officer (CEO) of Tele-Communications Inc. (TCI), a cable and media giant, for twenty-four years from 1973 to 1996. Malone is now chairman of Liberty Media, Liberty Global, and Liberty Interactive all of which he is the majority owner, and also owns 10% of Lionsgate/Starz Inc.. He was interim CEO of Liberty Media, until succeeded by former Oracle CFO Greg Maffei.
Early life and education
In 1959, Malone graduated from Hopkins School in New Haven, Connecticut. In 1963, he graduated from Yale University with a bachelor's degree in electrical engineering and economics, where he was a Phi Beta Kappa and National Merit scholar. In 1964, Malone graduated from Johns Hopkins University with a master's degree in industrial management. He received a master's in electrical engineering at an NYU program at Bell Labs in 1965 before receiving his PhD in operations research at Johns Hopkins in 1967.
In 1963, Malone began his business career at Bell Telephone Laboratories of AT&T, working in economic planning and research and development. In 1968, he joined McKinsey & Company, and in 1970, became group vice president at General Instrument Corporation (GI). He was later president of Jerrold Electronics, a GI subsidiary. For twenty-four years, from 1973 to 1996, Malone served as president and CEO of Tele-Communications Inc. (TCI).
Malone is on the boards of directors for Bank of New York Mellon, the Cato Institute, and Expedia.com. Malone is chairman emeritus of Cable Television Laboratories, Inc. and chairman of Liberty Global, Inc., and the DirecTV Group. His rise to chairman at Liberty Global was contentious at times. In 2005, Malone held 32 percent of the shares in the media company News Corporation, and although only about half were voting shares, Rupert Murdoch reportedly had concerns that he might lose control of his company to Malone, and tried to oust him from the firm with a "poison pill" strategy. He was director of the National Cable & Telecommunications Association (NCTA) from 1974 to 1977, and again from 1980 to 1993. During the 1977–1978 term, Malone was the NCTA's treasurer.
Malone owns Silver Spur Ranches, a ranching and beef company which includes the Silver Spur Ranch in Encampment, Wyoming, Bell Ranch and the TO Ranch in New Mexico as well as ranches in Walden, Colorado and Kiowa, Colorado. As of 1 February 2011[update], he has surpassed Ted Turner as the largest individual private landowner in the US, owning 2,100,000 acres (8,500 km2) of land, most of which is in Maine. His international real estate holdings include Humewood Castle in Ireland.
In 2000, Malone gave $24 million for the construction of Yale's Daniel L. Malone Engineering Center, named in honor of his father. In 2011, Malone gave the Johns Hopkins Whiting School of Engineering's largest gift ever of $30 million for a new building on Homewood Campus. The building will be named Malone Hall. In the same year, he gave the Yale School of Engineering & Applied Science's largest gift ever of $50 million. Malone has also given $60 million to Hopkins School to fund the construction of two new buildings, Malone Science Center, named for his father, as well as Heath Commons, named after his favorite Hopkins teacher.
In 2014, Malone and his wife donated $42.5 million to Colorado State University to help create their Institute for Biologic Translational Therapies, which aims to develop stem cell and other treatments for animals and people. Of the donation, $32.5 million will pay for half the construction costs and $10 million will go to operational expenses.
Malone Scholars Program
In 1997, he established the Malone Family Foundation, which operates the Malone Scholars Program that provides scholarship endowments to select private schools throughout the United States after a rigorous research process of top schools, including Hopkins School, Waynflete School, and thirty-six others as of 2011.
Malone reportedly shuns the limelight and glamorous lifestyle and takes his family vacations alongside long time friend Gary Biskup, in a recreational vehicle. However, in business dealings he has been dubbed "Darth Vader", a nickname allegedly given to him by Al Gore when Malone was the head of TCI, where he demanded equity positions in cable programming services in return for carriage, and attempted to defeat the must-carry rules which protected broadcasters, a battle which the cable industry eventually lost in 1997 in the U.S. Supreme Court. In a news article published in The Denver Post newspaper in 2017, it was disclosed that Malone received the "Darth Vader" title because Al Gore's grandmother lived in territory where TCI provided service. She didn't understand why cable bills went up when the company was delivering more content.
In 1994, Wired portrayed Malone on their cover as "Mad Max" from The Road Warrior (also known as Mad Max 2), with an interview describing his battles with the FCC. He is also known as the "Cable Cowboy".
His political beliefs have been described as libertarian. He donated US$ 250,000 to Donald Trump's inauguration in 2017, with colleague Greg Maffei, Liberty Media, and Liberty Interactive each donating a further US$ 250,000.
- "John Malone – Forbes". Forbes. September 2013. Retrieved 2014-01-22.
- Andreeva, Nellie (14 March 2016). "CBS Mulling Acquisition Of Pay Cable Network Starz".
- Littleton, Cynthia (15 March 2016). "John Malone: 'Cable Cowboy' Faces the Test in Rounding Up the Right Mix of Assets". Variety.
- Busch, David Lieberman, Anita (10 November 2015). "Lionsgate Strengthens Ties To John Malone: Liberty Global Buy Stakes".
- "John Malone: the mystery method behind a media empire". Daily Telegraph.
- "Gift from alumnus John Malone to fund engineering building". Yale Bulletin & Calendar. Retrieved 2011-11-05.
- Jeff Hull, Meet the largest landowner in America, Fortune, September 27, 2012
- "SEAS nets $50 million donation". Yale Daily News. Archived from the original on 2011-05-30. Retrieved 2011-11-04.
- Peter Flanagan (December 22, 2014). "US mogul John Malone buys up former Tony O'Reilly estate Castlemartin for €28m". Irish Independent.
- Patrick Counihan (December 27, 2012). "Irish American John Malone pays $10million for luxury Irish estate". IrishCentral.
- Kim Bielenberg (April 5, 2014). "Homecoming of two million acre man John C Malone". Irish Independent.
- "Company Overview -–Management". Liberty Media. Retrieved 2014-02-09.
- Trefgarne, George (August 26, 2005). "Murdoch's son sees pay doubled ahead of exit". The Daily Telegraph. London.
- "Silver Spur Ranches". silverspurranches.com. Retrieved 2017-11-11.
- Seelye, Katharine Q. (28 January 2011). "For Land Barons, Acres By the Millions". The New York Times.
- Flynn, Finbarr (21 May 2013). "John Malone Buys Irish 'Green Banana' as Castle Prices Fall". Bloomberg. Retrieved 2013-05-21.
- "Liberty's Malone Makes Largest Gift Ever to Whiting School". Johns Hopkins University. Retrieved 2011-11-05.
- "Billionaire John Malone Donates Millions to Colorado State University". CBS Denver. 29 December 2014. Retrieved 2015-04-28.
- "About the Foundation: Who We Are". Malone Family Foundation. Retrieved 2011-11-04.
- "Malone Scholars: Program Schools Offering Malone Scholarships". Malone Family Foundation. Retrieved 2011-11-04.
- "Darth Vader and the Sun King". London: The Independent. October 1, 2000. Retrieved 2009-02-11.
- "An RV Story... McMansions On Wheels". CampHalfPrice.com. October 15, 2005. Retrieved 2009-02-11.
- Jamie Doward (July 6, 2003). "Ruthless champion of Liberty". London: The Guardian. Retrieved 2009-02-11.
- Mark Lewis (July 11, 2001). "Cable's Darth Vader Is Back". Forbes. Retrieved 2009-02-11.
- Chuang, Tamara (January 2017). "National Western Stock Show Citizen of the West John Malone known for loyalty can-do Western spirit". The Denver Post. Retrieved 2017-01-06.
- Kline, David (July 1994). "Infobahn Warrior". Wired. Retrieved 2010-11-14.
- Graham Rapier (August 10, 2017). "The amazing life of billionaire 'Cable Cowboy' John Malone, the single largest landowner in the US". Business Insider. Retrieved 2017-08-12.
- Littleton, Cynthia (May 18, 2016). "John Malone Talks TV Biz, Presidential Politics and His TCI Regret in Candid Q&A". Variety.
- Avery, Greg (April 19, 2017). "Here are Colorado's biggest donors to Trump's inauguration". Denver Business Journay.
- L. J. Davis (1998). Billionaire Shell Game: How Cable Baron John Malone and Assorted Corporate Titans Invented a Future Nobody Wanted. Doubleday. ISBN 978-0-385-47927-1.
- Mark Robichaux (2005). Cable Cowboy: John Malone and the Rise of the Modern Cable Business. Wiley. ISBN 978-0-471-70637-3.