Richard Rainwater Net Worth is$2.3 Billion
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Profession: Entrepreneur, Businessperson, Investor
Nationality: United States of America
Date of Birth: 1943
Richard Rainwater net worth: Richard Rainwater is an American investor who has a net worth of $2.3 billion. Richard Rainwater has helped create or fix a string of companies, ranging from entertainment (Disney) and health care (Columbia/HCA) to energy (Mesa, Ensco) and real estate (Crescent). Many regard Rainwater as the father of the modern private equity business. Rainwater grew up in middle-class home. His father worked in the family wholesale business, started by his Lebanese immigrant grandfather, which sold combs and other dry goods to retail stores. His mother worked in boys' clothing at J.C. Penney (JCP) for 25 years. He was the youngest of two sons -- his older brother, Walter, became an engineer - and attended public schools and the University of Texas before accepting a scholarship to attend Stanford Business School. Rainwater first got rich working for the Bass family of Fort Worth. Sid Bass, eldest of four brothers and Rainwater's Stanford classmate, hired him to manage the family's money in 1970, when Rainwater was 26. In 16 years the two men turned the Basses' $50 million oil fortune into about $5 billion, mostly through spectacular investments in public companies. Their flagship deal was Disney -- perhaps "the best deal ever," says Bonderman. Their $478 million investment in the floundering company in 1984 became billions after they used their leverage to install new management. Rainwater had done his due diligence, seeking advice on the entertainment business from Star Wars director George Lucas, among others. So he was ready when Michael Eisner, former studio chief at Paramount Pictures, called to pitch himself for the top job, preaching the virtues of picking someone from the creative side. Rainwater always looked for a big event - a blowup in energy prices, a revolution in health care reimbursements, a real estate bubble, etc. Then he looked for a powerful way to exploit the upheaval -- not just to bet the trend, but turbo-charge the bet. In March 2009, Rainwater was diagnosed with progressive supranuclear palsy (PSP) in San Francisco. The disease is rare, striking about six people in 100,000, usually in their fifties or sixties. Frequently misdiagnosed as Parkinson's disease, it was not even identified in medical literature until 1963. Its cause remains unknown, and its effects are devastating. Battling for his life, Rainwater has bankrolled an extraordinary, and characteristically creative, campaign to seek a cure for his rare affliction.
Richard E. Rainwater (born 1943) is an American investor and fund manager. He made a significant personal fortune from his investments and was in the top 1000 richest person in the world in 2010. He saw the peak oil phenomenon as a grave threat after reading Beyond the Limits and from the beginning of the 1990s invested heavily in oil .
He has been battling a rare neurodegenerative disease, progressive supranuclear palsy, since 2009 and control of his fortune has been passed down to his youngest child Matthew.

The son of a wholesale grocer, he grew up in Fort Worth, Texas. He graduated from the University of Texas at Austin with a degree in mathematics, where he was a member of the Tau chapter of the Kappa Sigma fraternity. He was recognized by the national organization in 1996 as Kappa Sigma Man of the Year. After graduation, he went on to earn a 1968 MBA from Stanford Business School.
After business school, Rainwater landed a job as an investment banker, but soon accepted an invitation from former Stanford classmate Sid Bass to manage and diversify the Bass family portfolio. Rainwater became the chief financial architect for the Bass family investments. He was given $5 million to invest during his first year and managed to lose it all. Rainwater then sought a more methodical investment strategy by speaking to investors like Warren Buffett and Charles Allen, Jr., while also studying the work of Benjamin Graham and David Dodd. After that debacle, Rainwater sought advice on more qualitative investing and his investments began to take off, according to "Wall Street's Best-kept Secret," a cover story that appeared in the October 20, 1986 issue of Business Week. Rainwater eventually transformed the Bass family fortune into $5 billion. He is reported to have amassed $100 million for himself during that period, which he later used as seed money for his own fund.
Rainwater has been an independent investor since 1986, investing in more than 30 companies

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Richard Rainwater Latest News

Richard Rainwater: One of the nice ones

As a longtime Business News reporter I’ve interviewed a lot of smart people. It’s the top perk of this job. Some of them are nice and some aren’t. When I read Richard Rainwater’s obituary today, I remembered he was one of the nice ones. I scored a ...
Posted: September 28, 2015, 2:02 am

Legendary Dealmaker Richard Rainwater Dies, Age 71

Richard Rainwater died Sunday in Fort Worth. The legendary investor and longtime member of the Forbes 400 (estimated net worth $3 billion) had been diagnosed in 2009 with progressive supranuclear palsy, a rare brain disease. He was 71. In a conversation in ...
Posted: September 27, 2015, 10:27 pm

Darla Moore’s husband, philanthropist-investor Richard Rainwater dies at 71

The investment manager was listed as the world’s 663rd wealthiest person with an estimated net worth of $3 billion Richard Rainwater, the son of a North Texas grocer who went on to amass a fortune as an investment manager before becoming a billionaire ...
Posted: September 27, 2015, 2:44 am
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