I was having this debate with some of my friends a few months ago, and we never settled it. I said one day that I thought D-Wade might be our richest living graduate. My friends said that he might not even be in the top 10. I can't really think of anyone who would be richer than him, but it's certainly a good possibility. Looking at Wade, he's making the better part of 16 million this year for his salary, but that probably pales in comparison to what he gets from his numerous endorsements (Gatorade, T-Mobile, Nike, whatever else he might be involved with). I guess I'm asking, what do you all think? D-Wade or the field? I'm just very curious, thanks!
I know there is an alum who started Texas Instruments, so I would have to believe he has beaten our good DWade.
Did Dick Strong attend Marquette?
Quote from: damuts222 on March 01, 2010, 02:54:05 PM
I know there is an alum who started Texas Instruments, so I would have to believe he has beaten our good DWade.
Yes, but Patrick Haggerty is dead.
http://www.ti.com/corp/docs/company/history/haggerty.shtml
Ray & Kay Eckstein donated $51 million to build the new law school building. I mean, if they donated that amount, they probably have ten times that at least in the bank account. DWade can't touch that. They founded this company.
http://www.marquettetrans.com/
Quote from: TallTitan34 on March 01, 2010, 02:56:34 PM
Did Dick Strong attend Marquette?
Don't think so....University of Wisconsin-Madison.
dick went to either south or north dakota for undergrad, then uw for business school. regardless, this billionaire is out of the conversation
I can get this list started if we go from the bottom up.
How did Dick get so envolved in Marquette?
Quote from: TallTitan34 on March 01, 2010, 03:51:53 PM
How did Dick get so envolved in Marquette?
We didn't make fun of his name as much as other schools' alumni did.
EAT is right up there. Sweeps the floors at the Badger Bus Depot in Madison just for something to do.
Rumor is because of the rivalry with Nicholas (of Nicholas Funds, big UW and UWM supporter) who he went to UW-Madison with.
That's easy: Matthew Lesko!
Think of all the free money he's gotten over the years!
Quote from: The Sultan of South Wayne on March 01, 2010, 03:07:31 PM
Ray & Kay Eckstein donated $51 million to build the new law school building. I mean, if they donated that amount, they probably have ten times that at least in the bank account. DWade can't touch that. They founded this company.
http://www.marquettetrans.com/
Same could be said for Zilber then. He donated $30 mil to MU Law and then $50 mil to Milwaukee a few months later--$80 mil in total as a giveaway.
Straz has to be up there, too. Dude sold his bank for $150 mil: http://www2.tbo.com/content/2010/jan/25/straz-family-giving-one-its-passions/
Apparently, the founder of Payless Shoes is an alum. If so, he's probably up there.
Based off Wiki:
Darren Jackson. $5m a year to run Advanced auto parts
http://people.forbes.com/profile/darren-r-jackson/1474 (http://people.forbes.com/profile/darren-r-jackson/1474)
Worked at a country club that Brian Brunkhorst (1974 BB captain) played at. Based off the Bugatti and the rest of his car collection he's doing alright. Believe he's in real estate
Doc Rivers seems to be doing ok as the coach of the celtics.
Isn't "the Jump around guy" pretty well off?
Quote from: Cooby Snacks on March 01, 2010, 03:48:12 PM
I can get this list started if we go from the bottom up.
better you than me :) but I'm sure my income bracket correlates w/ my class rank so I can't complain too much
Quote from: Peoples_Republic_Warrior on March 01, 2010, 02:51:03 PM
I was having this debate with some of my friends a few months ago, and we never settled it. I said one day that I thought D-Wade might be our richest living graduate. My friends said that he might not even be in the top 10. I can't really think of anyone who would be richer than him, but it's certainly a good possibility. Looking at Wade, he's making the better part of 16 million this year for his salary, but that probably pales in comparison to what he gets from his numerous endorsements (Gatorade, T-Mobile, Nike, whatever else he might be involved with). I guess I'm asking, what do you all think? D-Wade or the field? I'm just very curious, thanks!
Did Wade even graduate?
Is Dick Strong (voluntarily or otherwise) retired? Based on seeing him on TV at, I believe, three different college basketball games in the last week, I don't know how he would have time to do any actual work.
Quote from: Ari Gold on March 01, 2010, 05:21:12 PM
Isn't "the Jump around guy" pretty well off?
There are numerous civil engineering firms esthablished by MU Alums, but I wouldn't venture their personal worth is much more than $2-8 million.
ZFB couldn't pay his $.40 fine at the library today. :D
Jerry Janzer might be in the top 20. He's the head of Reinhart Boerner Van Deuren.
Quote from: marqptm on March 01, 2010, 08:34:35 PM
There are numerous civil engineering firms esthablished by MU Alums, but I wouldn't venture their personal worth is much more than $2-8 million.
thats about... a lot more million more than what I'm currently at
Quote from: Ari Gold on March 01, 2010, 09:21:55 PM
thats about... a lot more million more than what I'm currently at
Even though you are an agent for Vince Chase?
Quote from: ReneeRow on March 01, 2010, 09:41:59 PM
Even though you are an agent for Vince Chase?
Season 1... pre-aquaman
Quote from: willie warrior on March 01, 2010, 06:01:55 PM
Did Wade even graduate?
I seriously doubt he's had the time or the inclination to go back to school during his off-seasons. He's doing okay without the degree ;)
Quote from: MUEng92 on March 01, 2010, 08:31:28 PM
Is Dick Strong (voluntarily or otherwise) retired? Based on seeing him on TV at, I believe, three different college basketball games in the last week, I don't know how he would have time to do any actual work.
I believe he is retired, courtesy of that paragon of moral virtue and frequenter of prostitutes, Eliot Spitzer.
I beleive one of the founders of the Weather Channel, weather.com et al is a grad and donated a pile to the communication department
Also Michael Cudahy sold Marquette Electronics to GE for somewhere around $400 Mill. That should at least put him on the leader board
Quote from: PBRme on March 02, 2010, 12:54:35 PM
Also Michael Cudahy sold Marquette Electronics to GE for somewhere around $400 Mill. That should at least put him on the leader board
He's got to be fairly high on the leaderboard, given that he was already very rich before starting Marquette Electronics due to his family's wealth from the meat packing business. Not only that, but after he sold out to GE, he invested some of his money in another medical company called TomoTherapy, that is worth close to $100 million.
Quote from: MUEng92 on March 01, 2010, 08:31:28 PM
Is Dick Strong (voluntarily or otherwise) retired? Based on seeing him on TV at, I believe, three different college basketball games in the last week, I don't know how he would have time to do any actual work.
Retired would be a good word for it. I believe his career options are severely limited at the moment, and have been for years now. His Strong funds were always around Milwaukee primarily, so I would assume that might have something to do with his MU connection.
Quote from: muballer10 on March 02, 2010, 02:32:41 PM
Retired would be a good word for it. I believe his career options are severely limited at the moment, and have been for years now. His Strong funds were always around Milwaukee primarily, so I would assume that might have something to do with his MU connection.
People that wealthy create their own career options. It's not as though he's sitting around waiting for someone to hire him. He can always start his own company if he wants to work.
Quote from: The Sultan of South Wayne on March 02, 2010, 04:52:46 PM
People that wealthy create their own career options. It's not as though he's sitting around waiting for someone to hire him. He can always start his own company if he wants to work.
Do you know who Dick Strong is?
http://money.cnn.com/magazines/fortune/fortune_archive/2003/11/24/353793/index.htm
I repeat...I do not see him pushing suitors away by the dozens. He was a fund manager investigated by the SEC. That would essentially be like allow Bernie Madoff to start another fund (not nearly as bad as him, but same idea of distrust).
Quote from: muballer10 on March 02, 2010, 05:01:39 PM
Do you know who Dick Strong is?
http://money.cnn.com/magazines/fortune/fortune_archive/2003/11/24/353793/index.htm
I repeat...I do not see him pushing suitors away by the dozens. He was a fund manager investigated by the SEC. That would essentially be like allow Bernie Madoff to start another fund (not nearly as bad as him, but same idea of distrust).
Who said that he would have to start another mutual fund? In my line of work, I know a number of wealthy people including some who came from "disgraced" situations. Many of them cash out and retire. Many more don't like sitting still and put their money to work in all sorts of ways.
Look at this quote from the article you posted: "Dick is the only man he knew who finds work, rather than rest, to be the perfect remedy for exhaustion."
I mean, do you really think that he is sitting there with his tens of millions of dollars looking for something to do...but not finding anything???
"Putting your money to work" is not the same thing as working. I'm sure he is not just sitting on his money.
Dick Strong's "work" has been in the investment industry for over 30+ years. He was caught manipulating the system, and screwing his investors out of their own money to put into his own pocket. Do you think he is working again? That stink does not go away. He could surely "put his money to work" somewhere, invest it in a business, take on an owership role, etc...but "work" in his capacity is out of the question. No one in the investment industry would touch him. Even outside of it, would you trust someone who so publically stole from his clients?
Quote from: muballer10 on March 02, 2010, 07:05:22 PM
"Putting your money to work" is not the same thing as working. I'm sure he is not just sitting on his money.
Dick Strong's "work" has been in the investment industry for over 30+ years. He was caught manipulating the system, and screwing his investors out of their own money to put into his own pocket. Do you think he is working again? That stink does not go away. He could surely "put his money to work" somewhere, invest it in a business, take on an owership role, etc...but "work" in his capacity is out of the question. No one in the investment industry would touch him. Even outside of it, would you trust someone who so publically stole from his clients?
He can take ownership in a business but not "work?" LOL...OK.... ::)
ummmm....yes. I'm not sure what is funny about that. You can purchase a portion, or even all, of a company and keep the current management structure in place.
Quote from: muballer10 on March 02, 2010, 09:41:17 PM
ummmm....yes. I'm not sure what is funny about that. You can purchase a portion, or even all, of a company and keep the current management structure in place.
No one at that level just purchases a significant portion of a business without being involved in some way. That's just silly.
I was just trying to portray that "work" as he had known it for 30+ years was over. He was banned from the industry because of his misdeeds.
He actually has started his own "fund", if you could call it that. It is called Baraboo Growth and I think it is in Mequon. Him and his wife started it to manage their own money, which I'm assuming is all that he is legally allowed to do. You were correct, he is certainly keeping busy.
The wealthiest alum is Saudia Arabian. I can't remember the name, but he is one of the top people in the Saudi government in charge of the oil industry.
I thought I remember hearing that the heir to Wal-Green's $ was an MU attendee. but I'm not sure what he's up to now, besides sitting on a trust fund. he'll be rich one day?
StrongFunds used to be close to my house. it's a wells fargo now. I'm with MUballer - Dick Strong at 68 years old won't be relevant in a business sense ever again.
Right Warren Buffet at alost 80 is completely irrelevant
I hate to speak for other, but pretty sure Ari was focusing on Dick being 68 AND starting over....not him just being 68.
If you give Buffett the bad PR Strong had and forced him to sell everything he built up and told him to start over....then ya, he would be done.
Here is my guess of Alumni that have a larger net worth than D. Wade, in no particular order ....
(remember that many of these guys have had 40+ years to invest their earnings in the market. 40 years ago the Dow Jones was less than 1000. D. Wade has probably lost a third of his 2003 to 2007 earnings in the market decline of the last three years.)
Dan Fuss, Vice Chairman of Loomis Sayles (Boston)
Tom Warner, CEO of Sun Power (Silicon Valley)
Saeed Mubarak Al-Muhannadi, Deputy Chairman, Gulf International Services (Doha Qatar)
Turki Bin Nasir Moha Al Mutawa, Director, Yamahmah Saudi Cement (Saudi Arabia)
Nassar Al Muttawa, Director Almarai Co Ltd (Saudi Arabia)
Dr. William F Banholzer, Chief Technology Officer, Dow Chemical
Greg Casciaro, CEO Xtent (Menlo Park, CA)
Robert Conway, CEO Array BioPharmia Inc (Boulder CO)
Todd Cozzens, CEO PICIS (Wakefield MA)
Bob Deuster, CEO Newport Corp (Irvine CA)
John Drecoll, CEO Broadwind Energy (Naperville IL)
Chris Ebert, CEO Bikers Dream (Riverside CA)
John Flaherty, Carlyle Group Global Infrastructure Buyout Group (Washington DC)
Darren Jackson, CEO Advanced Autoparts (Roanoke VA)
Jeff Joerres CEO Manpower Inc (Milwaukee)
John Kucharski, Former Chairman Nashua Corp (Nashua NH)
John Langdon, CEO Hickory Farms (Maumee OH)
Jim Keyes, Former Chairman LSI (Milpitas CA)
Brian Kristofek, CEO of Upshot Corp (Mountain View CA)
Chris McGuire, CIO Phalanx Capital (Chicago)
John Mikulsky, CEO of Endwave (San Jose CA)
Tom Paprocki, CEO Ziegler (Chicago)
Wilmer Pergande Chairman, Consolidated Water (Cayman Islands)
Beth Prtichard Former CEO Dean & Deluca, Bath and Body Work, Victoria Secret Stores (NYC)
Askok Rao, Vice-Chairman Intelli-check (Prt Townsend WA)
Wayne Sanders, CEO Dr. Pepper Snapple Group (Plano TX)
Bill Schroeder, Founder Priam, CEO Oxford Semi (Milpitas CA)
Bill Stone, CEO/Founder SS&C Technologies (Windsor CT)
Charles Swoboda, CEO Cree (Durham NC)
Bob Trussell, Vice Chairman, Tempur-Pedic (Lexington KY)
Bob Van Schoonenberg, Chairman/CEO Baypoint Capital (Boston)
John Zillner CEO Univar NV (Netherlands)
You forgot one
Jim Bianco, president of Bianco Research, LLC.
Quote from: muballer10 on March 04, 2010, 01:14:09 PM
You forgot one
Jim Bianco, president of Bianco Research, LLC.
I wish
Should Eckstein be on your list?
Add EAT---Chief cook and bottle washer, occasional ticket taker,--- Badger Bus Depot (Madison, WI)
No list can ever be complete but I think their is enough names out their that Wade is not (yet?) in the top 10.
My guess as to the richest alumni might be the two saudis that studied engineering in the 1980s in the list above. I believe they are members of the royal family. If so, they might be richer than Bill Gates (Forbes once did a story saying the royal family essentially owns Saudi Arabia. If you believe this, they put the family's net wealth at well over $1 trillion.)
What I want to know is, how come I never met any of these people?
Maybe they didn't spend much time in the GYM?
Quote from: AnotherMU84 on March 04, 2010, 12:56:12 PM
Here is my guess of Alumni that have a larger net worth than D. Wade, in no particular order ....
(remember that many of these guys have had 40+ years to invest their earnings in the market. 40 years ago the Dow Jones was less than 1000. D. Wade has probably lost a third of his 2003 to 2007 earnings in the market decline of the last three years.)
Dan Fuss, Vice Chairman of Loomis Sayles (Boston)
Tom Warner, CEO of Sun Power (Silicon Valley)
Saeed Mubarak Al-Muhannadi, Deputy Chairman, Gulf International Services (Doha Qatar)
Turki Bin Nasir Moha Al Mutawa, Director, Yamahmah Saudi Cement (Saudi Arabia)
Nassar Al Muttawa, Director Almarai Co Ltd (Saudi Arabia)
Dr. William F Banholzer, Chief Technology Officer, Dow Chemical
Greg Casciaro, CEO Xtent (Menlo Park, CA)
Robert Conway, CEO Array BioPharmia Inc (Boulder CO)
Todd Cozzens, CEO PICIS (Wakefield MA)
Bob Deuster, CEO Newport Corp (Irvine CA)
John Drecoll, CEO Broadwind Energy (Naperville IL)
Chris Ebert, CEO Bikers Dream (Riverside CA)
John Flaherty, Carlyle Group Global Infrastructure Buyout Group (Washington DC)
Darren Jackson, CEO Advanced Autoparts (Roanoke VA)
Jeff Joerres CEO Manpower Inc (Milwaukee)
John Kucharski, Former Chairman Nashua Corp (Nashua NH)
John Langdon, CEO Hickory Farms (Maumee OH)
Jim Keyes, Former Chairman LSI (Milpitas CA)
Brian Kristofek, CEO of Upshot Corp (Mountain View CA)
Chris McGuire, CIO Phalanx Capital (Chicago)
John Mikulsky, CEO of Endwave (San Jose CA)
Tom Paprocki, CEO Ziegler (Chicago)
Wilmer Pergande Chairman, Consolidated Water (Cayman Islands)
Beth Prtichard Former CEO Dean & Deluca, Bath and Body Work, Victoria Secret Stores (NYC)
Askok Rao, Vice-Chairman Intelli-check (Prt Townsend WA)
Wayne Sanders, CEO Dr. Pepper Snapple Group (Plano TX)
Bill Schroeder, Founder Priam, CEO Oxford Semi (Milpitas CA)
Bill Stone, CEO/Founder SS&C Technologies (Windsor CT)
Charles Swoboda, CEO Cree (Durham NC)
Bob Trussell, Vice Chairman, Tempur-Pedic (Lexington KY)
Bob Van Schoonenberg, Chairman/CEO Baypoint Capital (Boston)
John Zillner CEO Univar NV (Netherlands)
Not every CEO is a multi-millionaire. There are a couple on this list I know personally, that are nowhere near D-Wade money.
That begs the question as to what d-wade is worth ...
I'm going to guess that when you factor in salary and endorsements he has made $75 million so far. He is making $16 million this year and was making "only" $4 million as late as 2006.
From that $75 million, subtract 10% for agent fees, 30% for the market decline (he has to invest this in something, and if its munis, let hope it was not auction rate perferreds), his divorce (these can cost a ton!!), his philanthropy and an NBA players penchant for freely spending money and I'll guess he is worth $20 to $30 million right now.
Now remember the question was anyone alumni worth more than Wade now, not in 5 years. Yes, he could easily earn another $100+ million in the next five years, and when that happens we can revisit this question.
If the hurdle is $25 million (mid-point of the $20 to $30 million guess), then I'll bet a lot of the alumni in my list, and others mentioned in this thread are worth more than that. Remember a CEO in his 60s that makes $1 to $2 million a year, and has been doing it for 20+years, and started investing in the market when the Dow Jones was less than 1,000, has not been divorced and does not live the free spending life style of a Wade, could easily be worth $30 to $40 million right now.
Again these are just guesses. Feel free to disagree.
----
Added later ... To be clear, I'm answering the question of "net worth" and as I show above, I believe Wade is worth $20 to $30 million right now. I'm not answering the question of how many MU alumni make more than $16 million/year. That is a much smaller list, even the CEO of Goldman Sachs (Lloyd Blankfein) make less than $16 million/year.
I repeat...I do not see him pushing suitors away by the dozens. He was a fund manager investigated by the SEC. That would essentially be like allow Bernie Madoff to start another fund (not nearly as bad as him, but same idea of distrust).
[/quote]
Spitzer's allegations without charges denied the ability to defend. Spitzer was a self-seeking opportunist with grandiose aspirations who tried to step on people to elevate himself. He abused his position and caused more harm than good.
I had money with Strong Funds, and would again invest with Dick Strong. To even hint at a similarity to Bernie Madoff is foolish.
Quote from: augoman on March 09, 2010, 02:36:11 PM
I repeat...I do not see him pushing suitors away by the dozens. He was a fund manager investigated by the SEC. That would essentially be like allow Bernie Madoff to start another fund (not nearly as bad as him, but same idea of distrust).
Spitzer's allegations without charges denied the ability to defend. Spitzer was a self-seeking opportunist with grandiose aspirations who tried to step on people to elevate himself. He abused his position and caused more harm than good.
I had money with Strong Funds, and would again invest with Dick Strong. To even hint at a similarity to Bernie Madoff is foolish.
Those who compare Madoff to Strong have no clue about how the scurities business works.
Quote from: mu-rara on March 11, 2010, 05:51:04 PM
Those who compare Madoff to Strong have no clue about how the scurities business works.
You're correct. But, one could also say that a near billionaire felt the need to risk it all, and eventually lose it all, to "market-time" trades in his own funds for a $600k profit has to rank in the all-time top ten bad decisions on wall street.