Media-phobic billionaire David Bonderman, who co-founded $239 billion alternative asset management giant TPGHas died at the age of 82.
Bonderman is credited with transforming the company from a three-person investment office into a publicly traded force with a market value of $24.3 billion.
“David was a private equity pioneer, legal scholar, conservationist and citizen of the world, and his legacy will long live with those fortunate enough to have met him,” TPG said in a statement.
Bonderman came to the world of investing through Robert “Bob” Bass, who asked him to move to Fort Worth, Texas, to help manage his family investment business.
Bonderman, a lawyer by training, reportedly told Bass: “Bob, I don’t know anything about investing,” to which Bass responded, “I don’t either, but we can figure it out together.”
At the Bass family office he met Jim Coulter, who would become his business and investment partner for more than 38 years.
In 1992, he left Bass and made a bold bid to pull Continental Airlines out of bankruptcy. A year later, Bonderman, Coulter and Bill Price founded TPG, turning a $66 million investment into a life-changing deal, turning a tenfold profit.
Today, TPG boasts a global workforce of more than 1,800 with 28 offices around the world and investments across multiple sectors including technology, healthcare, real estate and consumer.
private equity giants Goes public in early 2022 A strong market that was initially valued at more than $10 billion.
great career
He was born in Los Angeles in 1942 and was also the owner of the National Hockey League’s 32nd expansion franchise, the Seattle Kraken.
“His eye for detail, keen interest in people, ability to learn and adapt quickly and even his love for music, travel and entertainment are the foundation of TPG,” the buyout veteran said.
Bonderman served on the boards of more than 80 corporate firms throughout his career, including automaker General Motors, air carrier Ryanair, and Kite Pharmaceutical at the request of the U.S. government.
Bonderman, affectionately known as “Bondo” by his friends and colleagues, graduated magna cum laude from Harvard Law School in 1966.
While at the prestigious university, where he was also a member of the Harvard Law Review, Bonderman was awarded a Sheldon Fellowship, which sponsored him to travel outside the US for a year of research and discovery.
After leaving Harvard, he briefly served as an assistant professor at Tulane University School of Law before moving to Washington to become a special assistant to the U.S. Attorney General in the Civil Rights Division during the administration of President Lyndon Johnson from 1968 to 1969. Did.
During that period, Bonderman successfully prosecuted numerous cases involving racial discrimination in the Southern United States.
He later joined the law firm Arnold & Porter in Washington, where he successfully represented Raymond Dirks before the US Supreme Court in one of the most important and landmark insider trading cases in history.
He won numerous awards, including the Golden Plate Award from the American Academy of Achievement and the Woodrow Wilson Award for Corporate Citizenship.
Bonderman, whose net worth is estimated by Forbes at approximately $7.4 billion, was an avid lover of music and sports. He was a board member and a strong financial supporter of the Rock and Roll Hall of Fame.
He was the controlling shareholder of TPG and served on its board since its inception.
He was also a member of the boards of The Wilderness Society, World Wildlife Fund, American Himalayan Foundation, and Grand Canyon Trust.
