Charles Wyly Net Worth is
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Charles Wyly Jr. (October 13, 1933 ??? August 7, 2011) was an American entrepreneur and businessman, philanthropist, civic leader, and a major contributor to Republican causes and Dallas art projects. This included $20 million to build a performing arts center in Dallas. In 2006, Forbes magazine estimated his net worth at $1 billion. His younger brother, Samuel Wyly, is nearly equal in wealth; the two brothers were close with their business affairs, and were often referred to as the "Wyly brothers". Together the brothers had donated almost $2.5 million to more than 200 Republican candidates and committees at the federal level over the past two decades.

Born during the Great Depression, Charles Wyly was a child when the collapsed economy forced the surrender of his family's cotton farm in Lake Providence, Louisiana. He and his younger brother went on to attend Louisiana Tech University in the 1950s, then went to work for IBM. Charles Wyly helped his brother, Samuel, run their startup computer software company, University Computing, and later founded and led several other companies including arts and crafts retail chain Michaels Stores Inc., which was sold in 2006. He also was a former member of the White House Advisory Council for Management Improvement. During their lifetime, the Wyly brothers together gave more than ninety million dollars to a wide range of charities.
In the summer of 2010, the Internal Revenue Service and Securities and Exchange Commission accused Wyly and his brother of using offshore havens to hide more than a half a billion dollars in profits over 13 years of insider stock trading and fraud. The brothers denied the claims and were fighting the allegations.
On Sunday, August 7, 2011, Wyly, who maintained a home in the rural town of Woody Creek in Roaring Fork Valley near Aspen, Colorado, was turning onto a highway near the local airport when his Porsche was hit by a sport utility vehicle according to the Colorado State Highway

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Charles Wyly Latest News

U.S. judge rules Texas tycoon Wyly committed tax fraud

penalties and interest from Wyly and $834.2 million from Caroline Wyly, the widow of his late brother Charles. The IRS claimed the Wylys, through a scheme that dated back to 1992, used offshore trusts to avoid paying taxes on $1.1 billion while exercising ...
Posted: May 11, 2016, 5:00 am

SEC eyes contempt for Wyly estate's failure to pay $101 million

NEW YORK (Reuters) - U.S. securities regulators said on Wednesday they want the executor of Charles Wyly’s estate held in contempt for failing to pay the $101.2 million owed as a result of the late Texas businessman’s fraud. In a letter filed in ...
Posted: September 7, 2016, 4:11 pm

Texas businessman Sam Wyly strikes $198 million deal with US securities regulators

The SEC sued Sam Wyly and his brother Charles Wyly in 2010, alleging they earned $553 million in undisclosed profits by trading in four companies they controlled using trusts in the Isle of Man. Both denied wrongdoing. Charles Wyly died in 2011 ...
Posted: October 1, 2016, 5:51 am
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