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Robert Bass

From Wikipedia, the free encyclopedia
This article is about the businessman. For other uses, see Robert Bass (disambiguation).
Robert Muse Bass
Born (1948-03-19) March 19, 1948 (age 76)
Fort Worth, Texas, US
EducationYale University (BA)
Stanford University (MBA)
Occupation(s)Businessman, philanthropist
SpouseAnne Thaxton Bass (m. 1970)
Children4
Parent(s)Perry Richardson Bass
Nancy Lee Bass
Relatives

Robert Muse Bass (born 19 March 1948[1]) is an American billionaire businessman and philanthropist. He was the chairman of Aerion Corporation, an American aerospace firm in Reno, Nevada.[2] In 2018, he had a net worth of $5 billion.[3] Bass has served on the Texas Highway & Public Transportation Commission.[4]

Early life

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Robert Muse Bass was born on 19 March 1948 in Fort Worth, Texas. His father, Perry Richardson Bass, was an investor, philanthropist and sailor. His mother, Nancy Lee Bass, was a philanthropist. He has three brothers: Lee Marshall Bass, Ed Bass, and Sid Bass. His uncle is Sid Richardson.[citation needed]

Bass attended The Governor's Academy, and graduated from Yale University, where he received a bachelor of arts degree.[5] He received a master in business administration from the Stanford Graduate School of Business.[5]

Career

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Bass's father founded Bass Brothers Enterprises in 1960 after inheriting $11 million from his great uncle Sid W. Richardson in 1959.[6]

In 1985, Robert Bass founded the Robert M. Bass Group as his personal investment company.[4] In 1990, it was renamed Keystone, Inc., after the Keystone Field in West Texas from which the Bass family derived their fortune.[7] He founded Oak Hill Capital Partners as a family office in 1986.[8]

In April 1987, Bass and other owners of TFBA Limited Partnership bought and took private Taft Broadcasting for $1.43 billion.[9]

In March 1988, Bass sold the Plaza Hotel to Donald Trump, thanks to their mutual friend Tom Barrack.[10] In April 1988, he led a buy-out of Bell & Howell.[11] In June 1988, Bass made an offer to purchase Macmillan Inc., the publishing and information company, but the company responded with a restructuring.[4]

Bass formerly served as chairman of the board at Aerion Supersonic, a developer of supersonic business jets. Bass was replaced by Tom Vice as chairman upon the announcement of a partnership between Boeing and Aerion on February 5, 2019.[12]

Philanthropy

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Bass has served as chairman of Stanford University's board of trustees,[5] Stanford Management Company, the National Trust for Historic Preservation, and Cook Children’s Medical Center . He is a trustee of Stanford University,[5] a director of Stanford Management Company, a trustee of the Brookings Institution,[13] a trustee of Rockefeller University, Groton School, Middlesex School, and the Amon Carter Museum.

Bass and his wife Anne donated $13 million to fund the renovation of Yale's Cross Campus Library, which was renamed the Bass Library.[14] In 2005, they donated $30 million to the Stanford Graduate School of Business.[15] In 2013, they donated $50 million to Duke University to support Bass Connections, an initiative to encourage cross-disciplinary collaboration and studies.[16] In 2001, Bass and his wife donated $10 million to Duke to strengthen undergraduate teaching. They also donated $10 million in 1996 to establish the Bass Society of Fellows at Duke.[17] They also contributed to the creation of Bass Hall in Downtown Fort Worth (performing arts venue located in Fort Worth, Texas that routinely hosts musical and theatrical performances).[18]

Personal life

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Bass is married to Anne T. Bass.[5] They have four children.[2] One daughter, Margaret, was featured in a Wall Street Journal article as an example of a student whose wealth and family connections helped her receive admission to an elite university.[19][20] They reside in the town of Westover Hills near Fort Worth, Texas, and also have homes in New York City and in Washington, D.C.[21][22][23] They also have a home in Seal Harbor on the southeast side of Mount Desert Island, Maine (south of Acadia National Park).[24]

References

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  1. ^ Current Biography Yearbook 1989, p39
  2. ^ a b "Forbes Profile: Robert Bass". Forbes. Retrieved 15 September 2017.
  3. ^ "The Richest People in America". Forbes. Archived from the original on September 24, 2010. Retrieved 2015-07-29.
  4. ^ a b c Applebome, Peter (June 5, 1988). "TEXAS DEAL MAKER: Robert M. Bass; A Younger Brother Steps Out on His Own". New York Times. Retrieved July 3, 2016.
  5. ^ a b c d e Sullivan, Kathleen J. (August 9, 2013). "Robert M. Bass returning to Stanford's Board of Trustees". Stanford News. Retrieved July 22, 2016.
  6. ^ Leslie Wayne, Perry R. Bass, 91, Patriarch of Famed Texas Oil Family, Dies, The New York Times, June 2, 2006
  7. ^ Elkind, Peter (24 November 1991). "The Breakup of the Bass Brothers". The New York Times. Retrieved 14 May 2024.
  8. ^ Flynn, Mary Kathleen (20 September 2018). "Private equity firms embrace big data: Two Six Capital, Oak Hill, Clarion". The Middle Market. Retrieved 14 May 2024.
  9. ^ Applebome, Peter (5 June 1988). "TEXAS DEAL MAKER: Robert M. Bass; A Younger Brother Steps Out on His Own". The New York Times. Retrieved 14 May 2024.
  10. ^ Segal, David (January 16, 2016). "What Donald Trump's Plaza Deal Reveals About His White House Bid". The New York Times. Retrieved July 22, 2016.
  11. ^ "Group Led by Robert Bass Offers $602 Million for Bell & Howell". The Los Angeles Times. November 26, 1987. Retrieved July 22, 2016.
  12. ^ "Boeing Partners with Aerion, Bets big on Supersonics". AINonline. February 5, 2019. Retrieved February 5, 2019.
  13. ^ "Board of Trustees". brookings.edu. 22 July 2016.
  14. ^ "Viewers of Le's records may be fired | Yale Daily News | Page 21937". Yale Daily News. 2009-10-07. Archived from the original on 2009-01-13. Retrieved 2015-07-29.
  15. ^ [1] Archived December 11, 2010, at the Wayback Machine
  16. ^ "New Initiative Prepares Students for Society's Challenges | Duke Today". Today.duke.edu. 2013-01-22. Retrieved 2015-07-29.
  17. ^ "$10 Million Gift for Undergrad Education | Duke Today". Today.duke.edu. 2001-01-26. Retrieved 2015-07-29.
  18. ^ "Bass Performance Hall - Official Website | Home". www.basshall.com. Retrieved 2021-03-16.
  19. ^ "For Groton Grads, Academics Aren't Only Keys to Ivy Schools". wsj.com. Retrieved 2015-12-29.
  20. ^ "Connections to University can affect admissions decision". stanforddaily.com. 13 March 2013.
  21. ^ "Robert Bass". forbes.com.
  22. ^ "Robert and Anne Bass live in historic house in Washington, D.C." mcclatchydc.com.
  23. ^ "Drop the $8 M.: Robert Bass Pays Shocking $42 Million for Mezzacappa's 834 Fifth Place". observer.com. 13 February 2012.
  24. ^ "Billionair Funds New Faculty Positions at COA". Bangor Daily News. 28 June 2011. Retrieved 2019-08-23.
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