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Todd Boehly

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Todd Boehly
Born
United States
NationalityAmerican
Alma mater
Occupations
  • Businessman
  • Investor
  • Philanthropist
Title
Children3

Todd Boehly is an American businessman, investor, and philanthropist. He is the co-founder, chairman, chief executive officer and controlling member of Eldridge Industries, a holding company[2] headquartered in Greenwich, Connecticut.[3] He is also the interim CEO of the Hollywood Foreign Press Association.[4]

Early life and education

Boehly, whose grandparents emigrated from Germany, attended Landon School in Bethesda, Maryland, graduating in 1991.[5] He was a member of the school's wrestling team, which won I.A.C. championships in both 1990 and 1991.[6] In 2014, Landon named their facilities the Boehly Family Wrestling Room in Boehly's honor.[7]

He graduated from the College of William & Mary in 1996 with a B.B.A in Finance. He also studied at the London School of Economics.[8] While at the London School of Economics, Boehly began working at Citibank and then at CS First Boston.[9]

Career

1991–2015: Early career, Guggenheim Partners

Boehly spent his early career at Credit Suisse First Boston and J.H. Whitney & Company.[10][11] He joined Guggenheim Partners in 2001, where he launched the firm's credit investing business, assumed responsibility of its asset management business, and served as president.[8][10][12]

In early 2013, Boehly led a deal between Time Warner Cable and the Dodgers to create SportsNet LA, a regional network to broadcast all Dodgers’ games and Dodgers-related programming. Broadcasting from the team-owned network began with the 2014 baseball season.[13][14][15][16][17]

2015–present: Founding Eldridge, investment career

In 2015, Boehly bought some of the assets he had collected at Guggenheim, including The Hollywood Reporter, Dick Clark Productions, and Security Benefit to found Eldridge, a private holding company which invests in various industries.[5][18] In addition to Greenwich, Eldridge also has offices in New York, London and Beverly Hills.[19]

Boehly is on the boards of Cain International, Kennedy Wilson, PayActiv, Vivid Seats, Viral Nation, Accelerant, CAIS, Horizon Acquisition Corporation I, and Horizon Acquisition Corporation II.[20][21] He was formerly on the board of Truebill.[22]

Boehly's firm Eldridge owns Security Benefit Life Insurance,[5] and SE2, a technology platform for insurance companies.[18] As CEO, chairman and co-founder of Eldridge, he invested in Clearcover Insurance,[9] and DPL Financial Advisors, an RIA insurance network.[23] His real estate investments include Cain International, a real estate firm co-owned by Eldridge, Kennedy Wilson and Langdon Park Capital.[24][25][26] He helped found European real investment firm Blackbrook Capital.[27]

Boehly has invested in the digital technology industry, including companies such as Gopuff,[28] Stash,[29] Wealthsimple,[30] Dataminr, AI security company AnyVision, digital health platform Wellthy, Truebill, and Tripledot Studios.[31][32][33][34] He acquired data technology company Knoema through Eldridge in 2020.[35]

Boehly has invested in the hospitality group Aurify Brands, which owns restaurant chains such as Le Pain Quotidien.[36] He also invested in Chuck E. Cheese.[37]

Sports

Boehly owns 20% of the Los Angeles Dodgers and is also a part owner of the Los Angeles Sparks.[38][5] He is also an owner of fantasy sports company DraftKings and esports organization Cloud9.[39][40]

In 2019, Todd Boehly made an attempt to buy the English football club Chelsea for $3 billion, but the owner at the time, Russian billionaire tycoon, Roman Abramovich, rejected the takeover bid.[41] On March 2022, he alongside Mark Walter, Hansjörg Wyss and Clearlake Capital launched a bid to buy the club from Abramovich after putting the club on sale amid the War in Ukraine. On May 6, 2022, Chelsea confirmed that the bid had been accepted and would be finalized by the end of the month.[42][43] The bid was approved by UK and Portuguese Governments, and European Union, as well as Premier League's Owners and Directors Tests.[44][45][46][47]

Boehly and Walter acquired a 27% stake in the Los Angeles Lakers together from Philip Anschutz in July 2021.[48][49] As of February 2021, the Lakers were third-highest valued team in the NBA, with an estimated value of $5.14 billion.[50]

In October 2021, Boehly spoke at SporticoLive's "Invest in Sports" summit to discuss the sports industry and investment in professional sports.[51]

On December 14, 2021, it was announced that Boehly was heading an ownership group in exclusive negotiations to purchase a controlling interest in the Washington Spirit.[52][53] On January 12, 2022, it was reported that Boehly had withdrawn from negotiations to purchase the team.[54]

Media and entertainment

Boehly is Chairman of MRC, which owns Dick Clark Productions and Billboard-Hollywood Reporter Media Group.[55][56] MRC has invested in A24 and Fulwell 73.[57][5] In September 2020, it was announced that Boehly's MRC and Penske Media Corporation were merging as part of a joint venture to manage their publications, including Billboard, Rolling Stone, The Hollywood Reporter, and Variety.[58] MRC and Penske announced plans to manage content such as television series, films, and live events including South by Southwest through a second joint venture.[59]

Boehly led a $3 million investment round for fan engagement platform Laylo.[60] In October 2021, he was named the interim CEO of the Hollywood Foreign Press Association.[61]

Reception

Boehly was listed on LA Business Journal's list of the 500 most influential people from 2017 to 2021.[8][62]

Philanthropy

Boehly helped found the Boehly Center for Excellence in Finance in 2014 at William & Mary's Raymond A. Mason School of Business with his wife Katie Boehly via a multi-year gift.[63][64] They also sponsor the yearly women's Stock Pitch and Leadership Summit at William & Mary. In 2020, Boehly and Katie committed funding to the construction of a new athletic complex and sports performance center at the college.[65] They were honorary co-chairs of a $55 million campaign to fund William & Mary Athletics in 2021.[66]

In January 2021, Boehly partnered with William & Mary to produce a series of courses for students at the Boehly Center for Excellence in Finance.[67]

He is also actively involved with various organizations, including Finding a Cure for Epilepsy and Seizures (FACES), the Brunswick School, the Prostate Cancer Foundation, and Focused Ultrasound Foundation.[68][11][64][69]

References

  1. ^ "LA Dodgers Owner Todd Boehly Makes a Monstrous $3B Takeover Bid for Chelsea".
  2. ^ "Eldridge Business Services LLC". www.bloomberg.com. Retrieved July 4, 2020.{{cite web}}: CS1 maint: url-status (link)
  3. ^ "Todd Boehly". Bloomberg L.P. Retrieved September 3, 2018.
  4. ^ Gardner, Chris (October 1, 2021). "Todd Boehly Named Interim CEO of Hollywood Foreign Press Association". The Hollywood Reporter. Retrieved November 22, 2021.
  5. ^ a b c d e "Former Guggenheim President Todd Boehly Is Growing His Investment Empire, From the Dodgers to Collateralized Loans". Barron's. April 12, 2019.
  6. ^ "Championships - Landon School | Private School in Washington, D.C., Area". www.landon.net. Retrieved July 4, 2020.
  7. ^ "Wrestling room dedicated to Todd Boehly '91". Landon School. May 20, 2014.
  8. ^ a b c "LA 500: Todd Boehly". Los Angeles Business Journal. August 14, 2017.
  9. ^ a b "Influencers with Andy Serwer: Todd Boehly". news.yahoo.com. Retrieved September 11, 2021.
  10. ^ a b Todd Spangler (March 26, 2015). "Guggenheim Partners Says President Todd Boehly Is Exploring Forming His Own Company". Variety.
  11. ^ a b Dan Duray (June 24, 2013). "Todd Boehly and Alexander Nemerov Join Guggenheim Foundation Board". Observer.
  12. ^ Scott Austin (March 28, 2012). "Who Are the New Dodgers Owners?". The Wall Street Journal.
  13. ^ Finke, Nikki (November 25, 2012). "EXCLUSIVE: Fox Closing In On Dodgers' TV Rights; 'We're Out' If Not Done By Nov. 30". Deadline. Retrieved October 1, 2020.
  14. ^ Shaikin, Bill (January 28, 2013). "Dodgers officially announce deal with Time Warner Cable". Los Angeles Times. Retrieved October 1, 2020.{{cite web}}: CS1 maint: url-status (link)
  15. ^ Wells, Adam. "Dodgers Announce New TV Network SportsNet LA Starting in 2014 Season". Bleacher Report. Retrieved October 1, 2020.
  16. ^ Ozanian, Mike. "Dodgers Exploring TV Deal With Dick Clark Productions". Forbes. Retrieved October 1, 2020.
  17. ^ Shaikin, Bill (November 27, 2016). "After $1 billion in player spending, Dodgers under MLB mandate to cut debt". Los Angeles Times. Retrieved October 1, 2020.{{cite web}}: CS1 maint: url-status (link)
  18. ^ a b "From CLOs to 'Ozark,' Ex-Guggenheim President Builds an Empire". Bloomberg.com. September 9, 2019. Retrieved April 28, 2021.
  19. ^ "Eldridge Industries LLC". Bloomberg L.P. September 4, 2018.
  20. ^ "Kennedy-Wilson board member steps down". www.spglobal.com. Retrieved April 27, 2021.
  21. ^ Kristy Westgard (June 21, 2018). "'Retail Apocalypse' Didn't Scare This Landlord Off an IPO". Bloomberg L.P.
  22. ^ "Front Office: Todd Boehly". mlb.com.
  23. ^ Lauren K. Ohnesorge (July 23, 2018). "Durham tech outfit raises $50M, seeks to disrupt construction industry". Triangle Business Journal.
  24. ^ "From CLOs to 'Ozark,' ex-Guggenheim president builds an empire". Financial Planning. September 9, 2019. Retrieved May 10, 2021.
  25. ^ "Eldridge Industries makes $300M investment in Kennedy Wilson". The Real Deal Los Angeles. October 18, 2019. Retrieved May 10, 2021.
  26. ^ "Langdon Park Capital Announces Strategic Investment from Eldridge". www.bloomberg.com. December 2, 2021. Retrieved December 10, 2021.{{cite web}}: CS1 maint: url-status (link)
  27. ^ staff2020-03-03T12:30:00+00:00, I. P. E. "New European property investment firm gets €1bn capital backing". Real Assets. Retrieved May 14, 2021.{{cite web}}: CS1 maint: numeric names: authors list (link)
  28. ^ Smythe, Laura (March 23, 2021). "Philadelphia unicorn goPuff hits $8.9B valuation after new $1.1B fundraising round". www.bizjournals.com. Retrieved May 10, 2021.{{cite web}}: CS1 maint: url-status (link)
  29. ^ Rooney, Kate (February 3, 2021). "Investing app Stash raises $125 million as it looks to add new customers — just not day traders". CNBC. Retrieved September 11, 2021.
  30. ^ "Portag3 Ventures closes $320 million second fund focused on fintech investment". TechCrunch. Retrieved September 13, 2021.
  31. ^ "Why is Microsoft looking to acquire Discord?". Fortune. Retrieved May 10, 2021.
  32. ^ PYMNTS (July 7, 2021). "AnyVision: Access Point AI-Based Physical Security". www.pymnts.com. Retrieved September 13, 2021.
  33. ^ "Wellthy Secures $35 Million in Series B Funding to Support Companies and Employees with Return to Work". TecHR. June 28, 2021. Retrieved September 13, 2021.
  34. ^ "Tripledot raises $78 million for London-based mobile game studio". VentureBeat. April 8, 2021. Retrieved May 10, 2021.
  35. ^ "Knoema announces acquisition by Eldridge and partnership with Snowflake". VentureBeat. December 21, 2020. Retrieved May 10, 2021.
  36. ^ Ewen, Beth. "Aurify Rescues Two Chains From Distress Amid Pandemic 'Disaster' in NYC". franchisetimes.com. Retrieved May 10, 2021.
  37. ^ "Boehly's Eldridge Finds Opportunities in Pandemic-Hit Companies". news.bloomberglaw.com. Retrieved May 10, 2021.
  38. ^ Melissa Rohlin (February 4, 2014). "Fast-Food Roundup: Pizza Hut Museum…. Papa John's tests beer delivery... Restaurant survey reveals some surprises". Los Angeles Times.
  39. ^ "Los Angeles Dodgers co-owner Todd Boehly launches third SPAC". SeekingAlpha. Retrieved May 4, 2021.
  40. ^ "Todd Boehly Net Worth (2021) – wallmine.com". wallmine.com. Retrieved May 4, 2021.
  41. ^ Castro, Erwin (December 12, 2019). "LA Dodgers Owner Todd Boehly Makes a Monstrous $3B Takeover Bid for Chelsea". www.sportskeeda.com. Retrieved August 25, 2020.
  42. ^ "Club statement | Official Site | Chelsea Football Club". ChelseaFC. Retrieved May 7, 2022.
  43. ^ Roan, Dan (May 24, 2022). "Chelsea: Premier League approves takeover deal from Todd Boehly consortium". BBC. Retrieved May 24, 2022.
  44. ^ "UK Government Give Green Light for Chelsea Sale After Issuing New Licence for Takeover | Sports Illustrated Chelsea FC News, Analysis and More". www.si.com. Retrieved May 28, 2022.
  45. ^ Reuters (May 26, 2022). "Portugal gives sanctioned citizen Abramovich green light to sell Chelsea". Reuters. Retrieved May 28, 2022. {{cite news}}: |last= has generic name (help)
  46. ^ Pasztor, David (May 26, 2022). "EU Commission satisfied with guarantees for Chelsea sale proceeds". We Ain't Got No History. Retrieved May 28, 2022.
  47. ^ "Premier League statement". www.premierleague.com. Retrieved May 28, 2022.
  48. ^ Ellingson, Annlee (July 12, 2021). "Dodgers co-owners take minority stake in Lakers". www.bizjournals.com. Retrieved September 11, 2021.{{cite web}}: CS1 maint: url-status (link)
  49. ^ Williams, Randall (July 9, 2021). "Dodgers Owners Walter and Boehly Close on 27% Stake in the Lakers". Sportico.com. Retrieved September 11, 2021.
  50. ^ Soshnick, Scott (June 26, 2021). "Dodgers Owners Boehly, Walter Buy Anschutz's Lakers Stake". Sportico.com. Retrieved September 11, 2021.
  51. ^ Jackson, Eric (October 28, 2021). "Boehly, Execs Share Insights on Growth at 'Invest in Sports' Event". Sportico.com. Retrieved November 22, 2021.
  52. ^ "Kang offers $35M to buy control of NWSL Spirit". www.sportsbusinessjournal.com. Retrieved December 22, 2021.
  53. ^ "Todd Boehly, Jennifer Tepper Mackesy in talks to buy Washington Spirit". Washington Post. ISSN 0190-8286. Retrieved December 22, 2021.
  54. ^ Linehan, Pablo Maurer, Steph Yang, Meg. "Todd Boehly withdraws from negotiations to purchase Washington Spirit: Sources". The Athletic. Retrieved January 27, 2022.{{cite web}}: CS1 maint: multiple names: authors list (link)
  55. ^ Ryan Faughder (February 1, 2018). "'House of Cards' producer MRC merges with Dick Clark Productions and Hollywood Reporter publisher". Los Angeles Times.
  56. ^ Tony Maglio (February 1, 2018). "THR to Combine With Dick Clark Productions, 'House of Cards' Studio in New Todd Boehly Banner". TheWrap.
  57. ^ "Billboard Boss John Amato Exits". Music Business Worldwide. July 11, 2018.
  58. ^ Yoo, Noah (September 23, 2020). "Rolling Stone, Billboard, Vibe, More to Operate Under New Joint Venture PMRC". Pitchfork. Retrieved April 27, 2021.
  59. ^ "Penske Media, MRC Launch New Joint Venture to House Chart-Powering Data Firms". Billboard. Retrieved May 14, 2021.
  60. ^ "Laylo Raises $3 Million From Eldridge-Led Group | Los Angeles Business Journal". labusinessjournal.com. Retrieved September 11, 2021.
  61. ^ Lang, Brent (October 1, 2021). "Todd Boehly Named Interim CEO of Hollywood Foreign Press Association (EXCLUSIVE)". Variety. Retrieved November 22, 2021.{{cite web}}: CS1 maint: url-status (link)
  62. ^ Citations:
  63. ^ "About Us & Our History". Mason School of Business. Retrieved September 3, 2018.
  64. ^ a b "W&M receives gift to fund new finance center in Business School". College of William & Mary. November 13, 2014.
  65. ^ "W&M announces Kaplan Arena revitalization and new Sports Performance Center". advancement.wm.edu. Retrieved July 5, 2020.
  66. ^ "William & Mary launches $55-million campaign for Tribe Athletics". WTKR. March 25, 2021. Retrieved April 16, 2021.
  67. ^ "Eldridge Partners with William & Mary to Develop New Course Offerings for The Boehly Center". mason.wm.edu. Retrieved September 11, 2021.
  68. ^ "Todd L. Boehly - Co-founder, Chairman & CEO at Eldridge". THE ORG. Retrieved April 27, 2021.
  69. ^ "Todd Boehly". Milken Institute. May 22, 2019.
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