David Bonderman | |
|---|---|
_(30840332786)_(cropped).jpg) Bonderman in 2016 | |
| Born | (1942-11-27)November 27, 1942 Los Angeles, California, U.S. |
| Died | December 11, 2024(2024-12-11) (aged 82) Los Angeles, California, U.S. |
| Education | |
| Occupation | Businessman |
| Known for |
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| Spouse | Laurie Michaels |
| Partner | Christa Campbell (from 2019) |
| Children | 5 |
David Bonderman (November 27, 1942 – December 11, 2024) was an Americanbillionaire businessman. He was the founding partner ofTPG Inc. (formerly Texas Pacific Group), and its Asian affiliate, Newbridge Capital. He was also one of the minority owners of theNBA'sBoston Celtics as well as the co-founder and co-majority owner (along withJerry Bruckheimer) of theSeattle Kraken of theNational Hockey League. At the time of his death,Forbes estimated his net worth at US$7.4 billion, making him the 400th richest person in the world.[1]
Bonderman was born to aJewish family,[2] in Los Angeles on November 27, 1942,[3] and was educated there atUniversity High School.[4] Bonderman studiedRussian at theUniversity of Washington,[5] where he graduatedPhi Beta Kappa in 1963, and atHarvard Law School, where he graduatedmagna cum laude in 1966. He was also a member of theHarvard Law Review and a Sheldon Fellow. During his time atHarvard, he traveled toCairo, Egypt, to studyIslamic jurisprudence andlaw; consequently, he became known in various Islamic legal circles, ultimately developing a near-native fluency inModern Standard Arabic. Bonderman began providing the funding for the Bonderman Travel Fellowship at theUniversity of Washington in 1995 which gives eight undergraduate and six graduate students per year with the opportunity to travel the world independently, with very little structure or regulations.[6] In 2013, Bonderman's daughter, Samantha Holloway, donated the funding to create a similar fellowship at theUniversity of Michigan. While the fellowships share the same name (the Bonderman Fellowship), they vary in both eligibility and execution.[7]
Bonderman was an assistant professor atTulane University Law School during 1967 and 1968; he then was a special assistant to theUnited States Attorney General during 1968 and 1969.[8] In 1971, he joined the law firm ofArnold & Porter inWashington, D.C.,[9] where he became a partner and specialized in corporate, securities, bankruptcy and antitrust litigation.[8] In 1983, he joined theRobert M. Bass Group, Inc. (RMBG),[9] an investment company of Robert Bass which now does business as Keystone Inc., and became the chief operating officer.[8] Bonderman was a principal at TPG inFort Worth, Texas, from December 1992, where he was also co-founder and chairman.[8] TPG went public in January 2022, trading on theNASDAQ under the ticker symbol "TPG".[10]
In 2008, Bonderman was named as one of the investors of what became theT-Mobile Arena inLas Vegas.[11]
Bonderman was a director ofContinental Airlines,Bell & Howell,Ducati, Credicom Asia, theEducation Corporation of America,Beringer Vineyards, Carr Realty,Virgin Cinemas,CoStar Group,Gemalto, andRyanair. He was on the boards ofThe Wilderness Society, the Grand Canyon Trust, theWorld Wide Fund for Nature, The University of Washington Foundation and theAmerican Himalayan Foundation. He previously was on the boards ofWashington Mutual,American Savings Bank,Denbury Resources andBurger King. He was a board member ofUber until he resigned from that position in June 2017.[8][12]
In June 2017, Bonderman resigned from the board ofUber amidst controversy surrounding a sexist response to fellow board memberArianna Huffington during a company all-hands meeting.[13] "There's a lot of data that shows when there's one woman on the board, it's much more likely that there will be a second woman on the board," said Huffington. Bonderman replied, "actually, what it shows is that it's much more likely to be more talking." The Uber meeting was, among other things, slated to discuss efforts to rein in a toxic and sexist culture at the company.[14][15][16]
In 2018, Bonderman filed an application for aNational Hockey League (NHL)expansion team to play at a renovatedClimate Pledge Arena inSeattle, Washington.[17] TheNHL Board of Governors voted to approve the team, named theSeattle Kraken, on December 4.[18]
Wildcat Capital Management was originally Bonderman's family office.[19] In early 2019, amutual fund named Infinity Q Diversified Alpha Fund had reportedly said on its website that the "investment team and control functions are largely the same for both Wildcat and Infinity Q." Wildcat also reportedly had $100 million invested in the fund.[20] Infinity Q had been founded in 2014.[21] In early 2021, the $1.7 billion Infinity Q fund[21] suspendedredemptions, theSEC was investigating asset valuations and the chief investment officer, James Velissaris, had been placed on administrative leave.[20] Leonard Potter, Infinity Q's non-executive chairman and owner of Wildcat, was designated to take over Infinity Q's management. Wildcat "managed more than $3 billion at the end of 2019, including capital from Bonderman."[19] In February 2021, SEC charged Velissaris in a fraudulent scheme to overvalue assets held by the Infinity Q Diversified Alpha mutual fund and the Infinity Q Volatility Alpha private fund. According to the complaint, Velissaris collected more than $26 million through fraudulent conduct, deceived SEC staff by creating backdated minutes non-existent valuation meetings, and altering valuation policy documents. TheUnited States Attorney's Office for the Southern District of New York announced criminal charges against Velissaris, and theCommodity Futures Trading Commission (CFTC) announced parallel civil charges against him.[22]
In April 2021,TheWall Street Journal analyzed specific valuation problems in the fund portfolios and received some comment on them. It also reported an apparent loss of $500 million in the fund, bringing valuation to $1.2 billion, and some discussion of the loss. Velissaris was identified as having been majority owner and in control of the fund with Bonderman family investment interests as passive investors in it. Infinity Q was expected to present a plan to distribute funds to investors by May 24, the report concluded.[21]
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Bonderman was married to Laurie Michaels; they had five children, and lived inFort Worth, Texas.[1][23] He was reported to be in a relationship withChrista Campbell in February and May 2019 though he stayed married with Michaels.[24][25]
In 2002, for his 60th birthday, Bonderman hadThe Rolling Stones andJohn Mellencamp play at his birthday party atThe Theater atHard Rock Hotel and Casino in Las Vegas. John Mellencamp played for an hour, The Rolling Stones played for an hour and a half, and comedianRobin Williams entertained guests between acts. The party cost $7 million, making it one of the most expensive private concerts ever held.[26]
In 2012, for his 70th birthday party, Bonderman held a private concert by formerThe Beatles memberPaul McCartney atWynn Las Vegas for 1,020 guests.Robin Williams also performed a comedy routine. Bonderman donated $1000 to each guest's charity of choice.[27]
Bonderman died in Los Angeles, on December 11, 2024, at the age of 82.[28][29][30] In tribute, the Seattle Kraken added a "Bondo" (Bonderman's nickname) patch to its jerseys and a matching sticker to its helmets on December 12.[31]
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Bonderman was given the award September 29th, 2016 in Austin, TX for his support of conservation efforts all over the world.
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