Richard Edward Rainwater was an American investor and philanthropist.
24 Facts About Richard Rainwater
Richard Rainwater was born in Fort Worth, Texas, in 1944.
Richard Rainwater grew up in a family of entrepreneurs and investors, and was exposed to the world of business and finance at an early age.
Richard Rainwater's father, Sam, was a successful businessman and investor, who owned a number of companies in the Fort Worth area.
From a young age, Richard Rainwater was exposed to the world of business and finance, and learned the value of hard work and determination from his father.
In 1970, Sid Bass, a classmate of Richard Rainwater, invited him, then 26 years old, to manage the Bass family investments.
From 1970 to July 1986, Richard Rainwater served as the chief investment advisor to the Bass family.
Richard Rainwater was given $5 million to invest during his first year and managed to lose it all.
Richard Rainwater eventually transformed the Bass family fortune from $50 million into $5 billion, amassing $100 million for himself by the time he started investing his own capital in 1986.
In 1986, Richard Rainwater joined forces with investor Sid Bass to form the investment firm Bass Brothers Enterprises.
Richard Rainwater was known for his ability to identify undervalued assets and create value through careful investment and strategic planning.
Richard Rainwater invested in a number of other energy companies, including Pennzoil and Diamond Offshore Drilling, and generated significant returns for his investors.
Richard Rainwater was instrumental in the development of the Las Colinas neighborhood in Irving, Texas, and helped to transform the area into a thriving business district.
Richard Rainwater was involved in the development of other real estate projects, including the Harbor Pointe office complex in Dallas and the Lincoln Plaza.
In December 1991,2 months after his divorce was finalized, Richard Rainwater married financier Darla Moore and moved to Manhattan.
Richard Rainwater often visited Canyon Ranch and acquired the spa via Crescent Real Estate.
Richard Rainwater invested in the Pebble Beach Golf Links along with Clint Eastwood.
Richard Rainwater owned a souped-up 1970 Chevrolet Camaro that a professional friend would race.
George W Bush invested along with Rainwater and Rainwater donated $100,000 to Bush for the 1994 Texas gubernatorial election.
Richard Rainwater donated $100,000 to the 2010 Florida gubernatorial election campaign of Rick Scott, who oversaw HCA Healthcare, a major Richard Rainwater investment.
Richard Rainwater spent over $20 million on research trying to fight the disease.
Richard Rainwater left nearly all of his estate for charitable purposes, primarily through the Rainwater Charitable Foundation.
Richard Rainwater left $5 million to UT Austin for the study of American music.