John C. Malone

John Carl Malone (born March 7, 1941) is an American billionaire businessman, landowner and philanthropist. He was chief executive officer (CEO) of Tele-Communications Inc. (TCI), a cable and media giant, for twenty-four years from 1973 to 1996. Malone is now chairman and largest voting shareholder of Liberty Media, Liberty Global, and Qurate Retail Group (formerly known as Liberty Interactive), and also owns 7% of Lionsgate and Starz Inc..[2][3][4][5] He was interim CEO of Liberty Media, until succeeded by former Microsoft and Oracle CFO Greg Maffei.

John C. Malone
Born
John Carl Malone

March 7, 1941 (age 78)
ResidenceElizabeth, Colorado, US[1]
NationalityAmerican
EducationYale University (B.A.)
New York University (M.S.)
Johns Hopkins University (M.S., Ph.D)
Known forMedia proprietorship, philanthropy
Net worthUS$7.2 billion (April 2019)[1]
Spouse(s)Leslie
Children2
Parent(s)Daniel L. Malone

Early life and education

John C. Malone was born on March 7, 1941 in Milford, Connecticut.[6][7] His father was Daniel L. Malone, an engineer.[8] Malone is of Irish heritage, his family originating in County Cork.[9][10][11]

In 1959, Malone graduated from Hopkins School in New Haven, Connecticut. In 1963, he graduated from Yale University with a bachelor's degree in electrical engineering and economics, where he was a Phi Beta Kappa and National Merit scholar. In 1964, Malone graduated from Johns Hopkins University with a master's degree in industrial management. He received a master's in electrical engineering at an NYU program at Bell Labs in 1965 before receiving his PhD in operations research at Johns Hopkins in 1967.[12]

Business career

In 1963, Malone began his business career at Bell Telephone Laboratories of AT&T, working in economic planning and research and development. In 1968, he joined McKinsey & Company, and in 1970, became group vice president at General Instrument Corporation (GI). He was later president of Jerrold Electronics, a GI subsidiary. For twenty-four years, from 1973 to 1996, Malone served as president and CEO of Tele-Communications Inc. (TCI).

Malone is on the boards of directors for Bank of New York Mellon, the Cato Institute, and Expedia.com. Malone is chairman emeritus of Cable Television Laboratories, Inc. and chairman of Liberty Global, Inc., and formerly the DirecTV Group.[12] His rise to chairman at Liberty Global was contentious at times. In 2005, Malone held 32 percent of the shares in the media company News Corporation, and although only about half were voting shares, Rupert Murdoch reportedly had concerns that he might lose control of his company to Malone, and tried to oust him from the firm with a "poison pill" strategy.[13] He was director of the National Cable & Telecommunications Association (NCTA) from 1974 to 1977, and again from 1980 to 1993. During the 1977–1978 term, Malone was the NCTA's treasurer.[12]

Land ownership

Malone owns Silver Spur Ranches, a ranching and beef company which includes the Silver Spur Ranch in Encampment, Wyoming, Bell Ranch and the TO Ranch in New Mexico as well as ranches in Walden, Colorado and Kiowa, Colorado.[7][14] As of 1 February 2011, he surpassed Ted Turner as the largest individual private landowner in the US, owning 2,100,000 acres (8,500 km2) of land, most of which is in Maine.[15] His international real estate holdings include Humewood Castle[16] and Castlemartin House and Estate, both in Ireland.

Philanthropy

In 2000, Malone gave $24 million for the construction of Yale's Daniel L. Malone Engineering Center, named in honor of his father.[8] In 2011, Malone gave the Johns Hopkins Whiting School of Engineering's largest gift ever of $30 million for a new building on Homewood Campus. The building will be named Malone Hall.[17] In the same year, he gave the Yale School of Engineering & Applied Science's largest gift ever of $50 million.[8] Malone has also given $60 million to Hopkins School to fund the construction of two new buildings, Malone Science Center, named for his father, as well as Heath Commons, named after his favorite Hopkins teacher.

In 2014, Malone and his wife donated $42.5 million to Colorado State University to help create their Institute for Biologic Translational Therapies, which aims to develop stem cell and other treatments for animals and people. Of the donation, $32.5 million will pay for half the construction costs and $10 million will go to operational expenses.[18]

Malone Scholars Program

In 1997, he established the Malone Family Foundation, which operates the Malone Scholars Program that provides scholarship endowments to select private schools throughout the United States after a rigorous research process of top schools,[19] including Hopkins School, Waynflete School, and thirty-six others as of 2011.[20]

Personal life

Malone is married to Leslie, they have two children, and live in Elizabeth, Colorado, US[1][21] His wife is active in dressage and horse breeding, and founded Harmony Sporthorses in Kiowa, Colorado.[22]

In 2008, their son Evan D. Malone joined the board of Liberty Media.[23][24]

Malone reportedly shuns the limelight and glamorous lifestyle and takes his family vacations alongside long time friend Gary Biskup, in a recreational vehicle.[25][26] However, in business dealings he has been dubbed "Darth Vader", a nickname allegedly given to him by Al Gore when Malone was the head of TCI, where he demanded equity positions in cable programming services in return for carriage, and attempted to defeat the must-carry rules which protected broadcasters, a battle which the cable industry eventually lost in 1997 in the U.S. Supreme Court.[27][28] In a news article published in The Denver Post newspaper in 2017, it was disclosed that Malone received the "Darth Vader" title because Al Gore's grandmother lived in territory where TCI provided service. She did not understand why cable bills went up when the company was delivering more content.[29]

In 1994, Wired portrayed Malone on their cover as "Mad Max" from The Road Warrior (also known as Mad Max 2), with an interview describing his battles with the FCC.[30] He is also known as the "Cable Cowboy".[31]

His political beliefs have been described as libertarian.[32] He donated US$250,000 to Donald Trump's inauguration in 2017, with colleague Greg Maffei, Liberty Media, and Liberty Interactive each donating a further US$250,000.[33]

References

  1. ^ a b c "Forbes profile: John Malone". Forbes. Retrieved 9 April 2019.
  2. ^ Andreeva, Nellie (14 March 2016). "CBS Mulling Acquisition Of Pay Cable Network Starz".
  3. ^ Littleton, Cynthia (15 March 2016). "John Malone: 'Cable Cowboy' Faces the Test in Rounding Up the Right Mix of Assets". Variety.
  4. ^ Busch, David Lieberman, Anita (10 November 2015). "Lionsgate Strengthens Ties To John Malone: Liberty Global Buy Stakes".
  5. ^ "John Malone: the mystery method behind a media empire". Daily Telegraph.
  6. ^ "Gift from alumnus John Malone to fund engineering building". Yale Bulletin & Calendar. Archived from the original on 2009-04-18. Retrieved 2011-11-05.
  7. ^ a b Jeff Hull, Meet the largest landowner in America, Fortune, September 27, 2012
  8. ^ a b c "SEAS nets $50 million donation". Yale Daily News. Archived from the original on 2011-05-30. Retrieved 2011-11-04.
  9. ^ Patrick Counihan (December 27, 2012). "Irish American John Malone pays $10million for luxury Irish estate". IrishCentral.
  10. ^ Peter Flanagan (December 22, 2014). "US mogul John Malone buys up former Tony O'Reilly estate Castlemartin for €28m". Irish Independent.
  11. ^ Kim Bielenberg (April 5, 2014). "Homecoming of two million acre man John C Malone". Irish Independent.
  12. ^ a b c "Company Overview -–Management". Liberty Media. Retrieved 2014-02-09.
  13. ^ Trefgarne, George (August 26, 2005). "Murdoch's son sees pay doubled ahead of exit". The Daily Telegraph. London.
  14. ^ "Silver Spur Ranches". silverspurranches.com. Retrieved 2017-11-11.
  15. ^ Seelye, Katharine Q. (28 January 2011). "For Land Barons, Acres By the Millions". The New York Times.
  16. ^ Flynn, Finbarr (21 May 2013). "John Malone Buys Irish 'Green Banana' as Castle Prices Fall". Bloomberg. Retrieved 2013-05-21.
  17. ^ "Liberty's Malone Makes Largest Gift Ever to Whiting School". Johns Hopkins University. Retrieved 2011-11-05.
  18. ^ "Billionaire John Malone Donates Millions to Colorado State University". CBS Denver. 29 December 2014. Retrieved 2015-04-28.
  19. ^ "About the Foundation: Who We Are". Malone Family Foundation. Retrieved 2011-11-04.
  20. ^ "Malone Scholars: Program Schools Offering Malone Scholarships". Malone Family Foundation. Retrieved 2011-11-04.
  21. ^ "John Malone: The US billionaire buying up Ireland". irishtimes.com. Retrieved 30 September 2018.
  22. ^ "Leslie Malone Is Growing U.S. Dressage One Horse And Rider At A Time". www.chronofhorse.com. Retrieved 30 September 2018.
  23. ^ https://www.bizjournals.com/denver/stories/2008/08/11/daily39.html
  24. ^ Bennett, Laurie. "Billionaire Offspring on Boards Can Spell T-R-O-U-B-L-E". forbes.com. Retrieved 30 September 2018.
  25. ^ "Darth Vader and the Sun King". London: The Independent. October 1, 2000. Retrieved 2009-02-11.
  26. ^ "An RV Story... McMansions On Wheels". CampHalfPrice.com. October 15, 2005. Retrieved 2009-02-11.
  27. ^ Jamie Doward (July 6, 2003). "Ruthless champion of Liberty". London: The Guardian. Retrieved 2009-02-11.
  28. ^ Mark Lewis (July 11, 2001). "Cable's Darth Vader Is Back". Forbes. Retrieved 2009-02-11.
  29. ^ Chuang, Tamara (January 2017). "National Western Stock Show Citizen of the West John Malone known for loyalty can-do Western spirit". The Denver Post. Retrieved 2017-01-06.
  30. ^ Kline, David (July 1994). "Infobahn Warrior". Wired. Retrieved 2010-11-14.
  31. ^ Graham Rapier (August 10, 2017). "The amazing life of billionaire 'Cable Cowboy' John Malone, the single largest landowner in the US". Business Insider. Retrieved 2017-08-12.
  32. ^ Littleton, Cynthia (May 18, 2016). "John Malone Talks TV Biz, Presidential Politics and His TCI Regret in Candid Q&A". Variety.
  33. ^ Avery, Greg (April 19, 2017). "Here are Colorado's biggest donors to Trump's inauguration". Denver Business Journay.

Further reading

  • L. J. Davis (1998). Billionaire Shell Game: How Cable Baron John Malone and Assorted Corporate Titans Invented a Future Nobody Wanted. Doubleday. ISBN 978-0-385-47927-1.
  • Mark Robichaux (2005). Cable Cowboy: John Malone and the Rise of the Modern Cable Business. Wiley. ISBN 978-0-471-70637-3.

External links

Discovery Holding Company

Discovery Holding Company was an American company headquartered in Meridian, Colorado. The postal designation of nearby Englewood was commonly listed as the company's location in corporate filings and news accounts.

The company used to hold a 66-2/3% ownership stake in Discovery Communications, LLC, and operated Ascent Media and AccentHealth, LLC. On September 17, 2008, Discovery Holdings divested its interest in Ascent Media, and reorganized its remaining businesses around a new publicly traded holding company, Discovery Communications, Inc.

Holly Rushmeier

Holly Rushmeier is an American computer scientist and is the John C. Malone Professor of Computer Science at Yale University. She is known for her contributions to the field of computer graphics.

Hopkins School

Hopkins School is a private, college-preparatory, coeducational, day school located in New Haven, Connecticut.

Founded in 1660, Hopkins School is the third-oldest independent secondary school in the United States, following only the Collegiate School and Roxbury Latin School. Hopkins was established "for the breeding up of hopeful youths" with funds from Edward Hopkins' estate to fulfill John Davenport's wishes to bring a grammar school to New Haven. First situated on the town's green, it relocated to its current campus on a hill overlooking New Haven in 1926. Hopkins has been coeducational since merging with Day Prospect Hill School in 1972.

Hopkins is divided into three separate schools. The Junior school consists of the 7th and 8th grades. The high school is divided into the Middle (9th and 10th grade) and Upper (11th and 12th grade) schools. Most new students enter Hopkins in either the 7th or 9th grade. Tuition is set at $39,200 for the 2015–16 school year. Hopkins allocates more than $3 million in need based financial assistance to 19.4% of students.In April 2010, Forbes Magazine named Hopkins the nineteenth best college preparatory school in the United States of America, and, as it was the only school from Connecticut on the list, the best college preparatory school in Connecticut. On January 8, 2015, Head of School Barbara Masters Riley announced her plans to retire at the end of the 2015-2016 academic year.

Humewood Castle

Humewood Castle is a 32,668 square feet (3,035.0 m2) Gothic-fantasy mansion built in 1870 in 427 acres of parkland at Kiltegan, County Wicklow. The mansion was originally built as a private residence of the Hume family. It is currently owned by American billionaire John C. Malone.

Built of granite, the three-story main building is flanked by a tall, round turreted tower at one end and a more angular tower at the other. The ground floor consists of a drawing room, dining room, salon and ballroom banqueting hall and a lower ground floor a billiard room, smoking room and wine cellar. The upper floors contain 12 bedrooms.

John Krakauer

John Krakauer is a neurologist and neuroscientist. He is currently the John C. Malone Professor of Neurology, Neuroscience, and Physical Medicine & Rehabilitation, the Director of the Brain, Learning, Animation, and Movement (BLAM) laboratory, and co-founder of the KATA project at Johns Hopkins University School of Medicine. His areas of interest range from motor learning and motor control and stroke to bioethics. From 2003 until 2010 he was the codirector of the Motor Performance Laboratory at the Neurological Institute of Columbia University.

He received his bachelor's degree at Trinity College of Cambridge University. He received his medical education at Columbia University. He completed the Osler internship at Johns Hopkins University and both his Neurology residency and Neurovascular fellowship at Columbia University.

Liberty Media

Liberty Media Corporation (commonly referred to as Liberty Media or just Liberty) is an American mass media company controlled by chairman John C. Malone, who owns a majority of the voting shares.

Mel Karmazin

Melvin Alan "Mel" Karmazin (born August 24, 1943) is an American executive. He co-founded and was the president of Infinity Broadcasting (formally known as CBS Radio now Entercom) and eventually became the president and CEO of CBS television . From 2004–2012, he was the CEO of Sirius Radio (re-branded Sirius XM Radio after XM merged with Sirius in 2008). In October 2012, Karmazin announced that he would be stepping down on February 1, 2013. Upon his departure, John C. Malone took over Karmazin's role at SiriusXM.

Qurate Retail Group

Qurate Retail Group, formerly known as Liberty Interactive, is an American media conglomerate controlled by company Chairman John C. Malone, who owns a majority of the voting shares.

Ted Turner

Robert Edward Turner III (born November 19, 1938) is an American media proprietor, producer, and philanthropist. As a businessman, he is known as founder of the Cable News Network (CNN), the first 24-hour cable news channel. In addition, he founded WTBS, which pioneered the superstation concept in cable television, which later became TBS.

As a philanthropist, he is known for his $1 billion gift to support the United Nations, which created the United Nations Foundation, a public charity to broaden domestic support for the UN. Turner serves as Chairman of the United Nations Foundation board of directors. Additionally, in 2001, Turner co-founded the Nuclear Threat Initiative with US Senator Sam Nunn (D-GA). NTI is a non-partisan organization dedicated to reducing global reliance on, and preventing the proliferation of nuclear, chemical, and biological weapons. He currently serves as Co-Chairman of the Board of Directors.

Turner's media empire began with his father's billboard business, Turner Outdoor Advertising, which he took over in 1963 after his father's suicide. It was worth $1 million. His purchase of an Atlanta UHF station in 1970 began the Turner Broadcasting System. CNN revolutionized news media, covering the Space Shuttle Challenger disaster in 1986 and the Persian Gulf War in 1991. Turner turned the Atlanta Braves baseball team into a nationally popular franchise and launched the charitable Goodwill Games. He helped revive interest in professional wrestling by buying World Championship Wrestling (WCW).

Turner's penchant for controversial statements earned him the nicknames "The Mouth of the South" and "Captain Outrageous". Turner has also devoted his assets to environmental causes. He was the largest private landowner in the United States until John C. Malone surpassed him in 2011. He uses much of his land for ranches to re-popularize bison meat (for his Ted's Montana Grill chain), amassing the largest herd in the world. He also created the environmental-themed animated series Captain Planet and the Planeteers.

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