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

Sources: Mets owner Fred Wilpon protected Terry Collins from getting fired

Mets owner Fred Wilpon repeatedly protected Terry Collins ... according to more than a dozen team insiders interviewed by Newsday. People with knowledge of the situation, who spoke on the condition of anonymity, described organizational dysfunction ...
Posted: September 28, 2017, 12:43 pm

Mets: Reacting to Fred Wilpon's Comments

Sometimes people forget that it was less than five years ago when the New York Mets were supposed to win the World Series. When Omar Minaya was hired as general manager in 2005, he was treated like a king. He brought in stars, Pedro Martinez and Carlos ...
Posted: May 24, 2011, 7:32 am

Report: Mets owner Fred Wilpon overruled executives who wanted to fire Terry Collins

According to a Newsday report, owner Fred Wilpon repeatedly protected Collins from being fired, even as his son, Jeff Wilpon, the team's COO, and general manager Sandy Alderson sought his dismissal on several occasions during Collins' seven-year tenure.
Posted: September 28, 2017, 4:08 pm
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