Richard Edward Rainwater was an American investor and philanthropist.
24 Facts About Richard Rainwater
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Richard Rainwater was born in Fort Worth, Texas, in 1944.
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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.
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Richard Rainwater's father, Sam, was a successful businessman and investor, who owned a number of companies in the Fort Worth area.
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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.
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In 1970, Sid Bass, a classmate of Richard Rainwater, invited him, then 26 years old, to manage the Bass family investments.
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From 1970 to July 1986, Richard Rainwater served as the chief investment advisor to the Bass family.
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Richard Rainwater was given $5 million to invest during his first year and managed to lose it all.
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Richard Rainwater then sought a more methodical investment strategy by studying investors including Warren Buffett, Benjamin Graham, and David Dodd.
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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.
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In 1986, Richard Rainwater joined forces with investor Sid Bass to form the investment firm Bass Brothers Enterprises.
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Richard Rainwater was known for his ability to identify undervalued assets and create value through careful investment and strategic planning.
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Richard Rainwater invested in a number of other energy companies, including Pennzoil and Diamond Offshore Drilling, and generated significant returns for his investors.
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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.
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Richard Rainwater was involved in the development of other real estate projects, including the Harbor Pointe office complex in Dallas and the Lincoln Plaza.
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In December 1991,2 months after his divorce was finalized, Richard Rainwater married financier Darla Moore and moved to Manhattan.
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Richard Rainwater often visited Canyon Ranch and acquired the spa via Crescent Real Estate.
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Richard Rainwater invested in the Pebble Beach Golf Links along with Clint Eastwood.
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Richard Rainwater owned a souped-up 1970 Chevrolet Camaro that a professional friend would race.
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George W Bush invested along with Rainwater and Rainwater donated $100,000 to Bush for the 1994 Texas gubernatorial election.
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Richard Rainwater donated $100,000 to the 2010 Florida gubernatorial election campaign of Rick Scott, who oversaw HCA Healthcare, a major Richard Rainwater investment.
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Richard Rainwater spent over $20 million on research trying to fight the disease.
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Richard Rainwater left nearly all of his estate for charitable purposes, primarily through the Rainwater Charitable Foundation.
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Richard Rainwater left $5 million to UT Austin for the study of American music.