Phil Falcone Net Worth is$1.1 Billion
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Phil Falcone net worth: Philip Falcone is an American businessman who has a net worth of $1.1 billion. Phil Falcone is one of the richest men in the world and in the United States. He was born and grew up in Chisholm, Minnesota. He studied Economics at Harvard University and graduated in 1984. During college, he played hockey at Harvard, and afterwards he played professional hockey in Sweden for some time. Unfortunately, a leg injury ended his hockey career while he was in Sweden. The following year he started his career at Kidder, Peabody & Co. and he worked at Wachovia too. He had similar job at Gleacher Natwest, Barclays Capital until 2000 and in 2001 he founded Harbinger Capital. Falcone made numerous investments in many companies, institutions and even the Minnesota Wild hockey team. Another focus of his investments was the telecommunications company Lightsquared, which aimed to create a wireless network to compete with AT&T and Verizon, but the project was rejected on the motive that it would interfere with the GPS signals. In 2012 Falcone and Harbinger Capital were charged of fraud by the U.S. Securities and Exchange Commission, so he had to make an agreement with the commission in 2013, to pay total of $11.5 million of his own money to settle the charges, after he admitted to have broken the law. Falcone is married, with two children and he currently lives in New York City. His wife is also active in philanthropic causes, such as American Museum of Natural History and the New York City Ballet.
Philip Falcone is an American businessman and the founder of Harbinger Capital and LightSquared. As of March 2013, he is the 1175th richest person in the world, and the 377th richest in the United States with a net worth of $1.2 billion.

Philip Falcone grew up in Chisholm, Minnesota with nine siblings in a three-bedroom house. He attended Harvard University on financial aid and graduated with a Bachelor of Arts in Economics in 1984. He played college hockey at Harvard and professional hockey in Sweden with Malmo.
In 1985, he started his career at Kidder, Peabody & Co.. He also worked at Wachovia. He was also Senior High Yield trader at First Union Capital Markets in Charlotte, North Carolina. From 1990 to 1995, he served as President and CEO of AAB Manufacturing Corporation". He was the head of High Yield trading at Gleacher Natwest from 1997 to 1998, and at Barclays Capital from 1998 to 2000. In 2001, he founded Harbinger Capital. He has investments in the Minnesota Wild hockey team.
He is a founding council member of the Kissinger Institute on China and the United States. He has made further donations to the American Museum of Natural History. His wife, Lisa Maria, sits on the board of the New York City Ballet. In 2008, she started a film production company, Everest Entertainment, and she has produced Mother and Child, 127 Hours, and Win Win.
In February 2013 Forbes listed Mr. Falcone as one of the 40 Highest-Earning hedge fund managers.
A significant focus on Phil Falcone's investment activities has been the telecommunications company Lightsquared, which attempted to build a multi-billion-dollar satellite-based network that would have supplied 4G wireless broadband in competition with AT&T and Verizon Wireless. The plan, however, consisted of gaining wireless spectrum reserved for satellite uses and employing it for terrestrial communication. Critics described this use of wireless spectrum as a loophole meant to avoid paying royalties to th

Phil Falcone Latest News

Tolvanen's Goal Paces Musketeers by Fighting Saints

Philip Falcone, Chairman, Chief Executive Officer and President of HC2 Holdings, Inc. and former part owner of the NHL's Minnesota Wild, is the company's principal owner. The ownership group also includes Peter Chiarelli, Edmonton Oilers President of ...
Posted: October 15, 2016, 8:51 pm

SEC Said to Demand That Cooperman Agree to Hedge Fund Suspension

In 2013, Phil Falcone received a five-year prohibition from working in the securities industry and admitted wrongdoing in settling an SEC case that accused him of improperly borrowing money from his fund to pay his personal taxes. Steven A. Cohen agreed to ...
Posted: October 10, 2016, 9:00 pm

Phil Falcone gets a babysitter

Legally troubled hedge fund manager Phil Falcone officially has help to salvage his once-$23 billion Harbinger Capital Partners. Jim Dunning has been appointed as an independent monitor for Harbinger over two years, according to a letter sent to Harbinger ...
Posted: February 5, 2014, 5:30 pm
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