Sid Bass

For the American songwriter, see Sid Bass (songwriter).

Sid Bass
Born (1942-04-09) April 9, 1942 (age 82)
Fort Worth, Texas, U.S.
EducationYale University
Stanford University
Occupation(s)Investor, philanthropist
Spouse(s)Anne Hendricks Bass (divorced)
Mercedes Bass (divorced)
ChildrenHyatt Bass Samantha Bass
Parent(s)Perry Richardson Bass
Nancy Lee Bass
RelativesSid W. Richardson (great-uncle)
Lee Bass (brother)
Ed Bass (brother)
Robert Bass (brother)
Josh Klausner (son-in-law)

Sid Richardson Bass (born April 9, 1942) is an American billionaire investor and philanthropist.

Early life and education

Sid Richardson Bass was born on April 9, 1942. His father, Perry Richardson Bass (died 2006), built an oil fortune with uncle, Sid W. Richardson. He graduated from Yale University in 1965,[1] and also has a degree from the Stanford Graduate School of Business.

Career

Bass took control of the family business in 1968. His investments include oil and gas. Along with his father and two of his brothers, he was the largest shareholder in The Walt Disney Company from 1984 until after the stock market crash in 2001. Bass was forced to sell his Disney holdings as a result of a margin call. He turned the $50-million family company he inherited into a $14-billion investment group.[2]

He started to unload his Disney shares four days after September 11. 135 million shares were sold, most of them under market value, making the Disney share drop 8.9%. This quick bulk sale was a Wall Street surprise. Some speculated that Bass owed money as a result of a margin call. Others speculated that the Disney deal slowly fell out of Bass' control after his main adviser Richard Rainwater had left in 1986. No official reason was communicated.[2]

In 2007, he had a net worth of US$3 billion.[3]

In 2020, he was ranked No.359 in the Forbes 400 list of the richest people in America.[4]

Philanthropy

Bass donated $20 million to Yale University for the study of humanities in 1990.[1] In 2006, Bass and his second wife, Mercedes Bass, made a gift of $25 million to the Metropolitan Opera, at the time the largest individual gift in the company's history.[5]

Personal life

His first wife was Anne Hendricks Bass, with whom he had two daughters: author Hyatt Bass and Samantha Bass. He divorced Anne Bass in 1986.[6] In 1988, Bass married the Iranian-American socialite Mercedes Bass, formerly Mercedes Kellogg, née Tavacoli. This childless marriage ended in divorce in 2011.[7][8]

References

  1. ^ a b "Yale Gets Gift of $20 Million From Bass Family (Again)". The New York Times. October 6, 1990. Retrieved October 8, 2011.
  2. ^ a b Andrews, Suzanna. "Betting the Kingdom | Vanity Fair". Vanity Fair | The Complete Archive. Retrieved May 8, 2024.
  3. ^ "The World's Billionaires No. 275 Sid Bass". Forbes. October 2, 2019. Retrieved December 27, 2019.
  4. ^ "Sid Bass". Forbes. Retrieved October 15, 2020.
  5. ^ Daniel J. Wakin (January 5, 2006). "Metropolitan Opera, in Tight Times, Receives Record Gift of $25 Million". The New York Times. Retrieved October 8, 2011.
  6. ^ Sid Bass and Mercedes Kellogg Stun Society. New York Magazine. October 20, 1986. Retrieved October 8, 2011.
  7. ^ "Sid, Mercedes Bass to divorce after 23 years | Fort Worth | News from Fort Worth, Dallas". Archived from the original on October 18, 2011. Retrieved October 7, 2011.
  8. ^ Eric Wilson (October 14, 2011). "An '80s Scandal Comes to a Quiet End". New York Times. Retrieved November 27, 2014.