Fred Wilpon Net Worth is$500 Million
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Profession: Businessperson
Date of Birth: 1936
Ethnicity: White American
Country: United States of America
Mets Owner Fred Wilpon lost a reported $700 million in the Bernie Madoff ponzi scheme fraud.
Fred Wilpon (born November 22, 1936Bensonhurst, Brooklyn) is a real estate developer, baseball executive and the majority owner of the New York Mets.
Wilpon bought a one-percent stake in the Mets in 1980, when Charles Shipman Payson sold the team, with Doubleday & Co. holding the remaining interest. In 1986, Doubleday president Nelson Doubleday, Jr. sold off his company, and he and Wilpon each bought a 50 percent stake in the Mets to become full partners. In 2002, the Wilpon Family purchased the remaining 50% of the Mets from Doubleday for $135 million.
Wilpon served as president of the team between 1980 to 2002, as Chief Executive Officer since 1980 and as Chairman of the Board since 2003. Wilpon currently serves as Chairman of Sterling Equities. His son, Jeff, is the COO of the Mets and executive vice president of Sterling.
Wilpon is a 1958 graduate of the University of Michigan.
Wilpon was one of the investors who invested a significant amount of money with Bernard Madoff which was lost when the Ponzi scheme collapsed in December 2008. It was reported that Wilpon had "lost" about $700 million because of Madoff, which has led to speculation that he may be forced to sell the team. Since then Wilpon has said that his losses were "substantially less" than that figure. Reports later surfaced that Wilpon and his family actually made about $300 million with Madoff and had not lost money as previously reported. As a result in December 2010, Wilpon was named in a lawsuit filed by Irving Picard on behalf of the victims of Madoff's investment scandal and on January 28, 2011 Wilpon issued a statement seeking "one or more strategic partners" interested in buying 20 to 25% interest in the Mets to offset pending losses due to litigation (which may total up to $1 billion). Wilpon and his partner and brother-in-law Saul Katz were involved in another Ponzi scheme which was orchestrated by Samuel Israel III and they were forced to pay $13 million to investors when Israe

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Fred Wilpon Latest News

Fred Wilpon ‘irate’ about Yankees getting Giancarlo Stanton

Just call him Frazzled Fred. Fred Wilpon was “irate” after learning of Giancarlo Stanton’s recent trade to the Yankees, according to an industry source, continuing a pattern of hand-wringing by the Mets co-owner following a splash by his crosstown rival.
Posted: December 21, 2017, 2:41 pm

Latest Fred Wilpon News

LOS ANGELES (AP) — Arizona Diamondbacks owner Ken Kendrick is hoping Major League Baseball and the players' association can work out a deal to improve pace of play without imposing changes on the union unilaterally. Commissioner Rob Manfred has long ...
Posted: January 31, 2018, 2:07 pm

Jacob deGrom’s gem ruined by Jeurys Familia in loss to Marlins

Before Monday’s series opener against the Marlins, Mets owner Fred Wilpon popped into the dugout during batting practice, looked up and exclaimed, “Where’s the rain?” It was a rare sunny afternoon, and Wilpon was making a joke about how nice the ...
Posted: May 24, 2018, 12:14 am
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