Texas billionaire Richard Rainwater, who lost $70 million in two months on Thornburg Mortgage stock, first learned of the company when he saw Goldstone on television. $ Thornburg's 29-year-old son has his own small plane. $$$ "He wasn't a genius because Bernanke set the short-term interest rate at Thornburg's benefit. Skilled workers had to be lured. Soaring stock prices from Nigeria to Zimbabwe lifted the fortunes of these tycoons, as demand for products and services from telecom to luxury goods ticked up. "But I don't know how smart you'd have to be to predict this would've happened." Joe Farr* Gene Hackman A few years later, it endured a wave of prepayments by borrowers. With that, we present this incomplete list of Santa Fes rich and not-always famous. By all accounts, Bear Stearns wasn't interested. Documents show Thornburg paid $11,000 in state and local income taxes in 1985. Learn more about the impact of NDI New Mexico. Despite the fact that her net worth is public, she has not disclosed her salary or income in the media. World's 12 Wealthiest People Got $36 Billion Richer in a Single Day Bill Richardson appointed Feinberg to the State Investment Council this year. Those jobs, and the wealth they created, justified the tax breaks Thornburgs companies won over the years and the public accolades theyve received. Structural Info Known for movies Sing 1989 as Cujette Source IMDB Aziz Akhannouch is the majority owner of Akwa Group, a multibillion-dollar conglomerate founded by his father and a partner, Ahmed Wakrim, in 1932. Thornburg's classmates included George W Bush's treasury secretary, Hank Paulson, who devised last year's $700 billion bank bailout. "Since there was no statutory basis for tax relief to a private commercial developer, Mr. Trump offered to sell the hotel for $1 to the Urban Development Corporation [where Thornburg was then chief financial officer] and lease it back for 99 years at a modest rental in lieu of taxes." 4 last year is luxury goods magnate Johann Rupert of South Africa. According to the source, Meaghan Oppenheimer's net worth in 2022 is estimated to be $4 million. The couple made ARTnews top collectors list and serve on the board of the Georgia OKeeffe Museum. Net Worth in 2023. Bill Clinton. 2023 Forbes Africa. In 2006, he and wife Margarita sued their high-end decorators after getting billed for items theyd rejected. When the couple left the West Indies, Thornburg tried his hand at banking in London, then real estate in New York City. Ellis is certainly a millionaire with his fortune from acting estimated at around $6million. In June, Richardson named him a major contributor to the arts. Thornburg bought in bulk home loans made by other companies to the most creditworthy borrowers, and sold those loans as securities. Dubins daughter, a People magazine staff writer, was married at Loretto Chapel in 2001. "Thornburg is often referred to as one of the good guys that's having trouble. The process took years and involved thousands of Americans who couldn't afford their home loan payments. But that near-parity has slipped dramatically in the second half of the year. The Cast Of Selling Sunset, Ranked By Net Worth - TheThings $$ish There were a few fantasies you had to not buy into. Richardson spokesman Gilbert Gallegos refused comment "on someone's impression of a private meeting [the governor] may have had." Bill Richardson summoned Concerned Citizens to his office, Collins says. Shes also a past president of the Los Alamos National Laboratory Foundation and a director of Foreign Traders on Galisteo Street. "It wasn't all that hard. Originally from Southern California, but happily relocated to Santa Fe from Dallas, Mary was a Jody DeCoursin-Good joined NDI New Mexico as the Director of Human Resources. In 2016, he launched a private equity firm, African Rainbow Capital, focused on investing in Africa. He shares a $1.8 million home on Brownell Howland Road with Susan Foote. Chastened, Thornburg changed course. He also makes his debut as a showrunner/executive producer with this project. Americans were hit harder than average: The typical U.S. billionaire lost nearly $350 million, or about 7% of his wealth, falling from an average net worth of $4.79 billion to $4.44 billion. Of its tens of thousands of clients, most are individuals without a high net worth. Catherine Oppenheimer is 59 years old and was born on 07/24/1963. Mayo King, Co-Chair Thornburg funded Chavez' Council opponents in the 2004 and 2008 elections. She served as Chair, Trustee and Governor of The Childrens Miracle Hospitals Board (Salt Lake City, Utah) which is a Foundation that raises Diane Fisher served as Senior Vice President and General Counsel for Presbyterian Healthcare Services. $$ish Supporting NDI New Mexico in our community benefits us all!, Joining our Corporate CouncilSponsoring Our GalaPromoting Giving in Their Business. According to TCM, Katharine Hepburn died on June 29, 2003 at the age of 96. The other part is he wasn't content with making money at that spread, and he leveraged. Garrett Thornburg was born in January, 1946. Maria Gale Catherine Lozick - Forbes The New Mexican's headline when the City Council approved the bond: "Thornburg deal benefits schools." He owns at least 720 square miles of conservation land across South Africa, Botswana and Zimbabwe. With $222 million in assets, it is Santa Fes biggest by far. She now runs a gallery in Taos. Thornburg's empire was built on his grasp of both market trends and government regulations. Jirby would not discuss the divorce. "It was made financially plausible by a 40-year tax abatement from the citythe first ever granted to a commercial property," The New York Times reported in 1983. To report this story, SFR scoured Santa Fe County property records, nonprofit tax returns filed with the Internal Revenue Service, philanthropic donor lists, Securities and Exchange Commission filings, private aircraft registrations with the Federal Aviation Administration, political campaign donors through the Federal Election Commission, court records including divorces and lawsuits, press accounts of luxury homes and art collectors, and straight-up town gossip. Subsequent to the economic crash, AIG has received a total of $182.5 billion in federal aid, according to the Government Accountability Office. $$$ "People were getting really pissed off," Collins says. The city then uses the rent money to pay down a $45 million, tax-exempt bond it sold directly to Thornburg at 15 percent interest. Ad sales may be down and writers may be grumbling about late pay, but the Outside magazine magnate still owns Santa Fes seventh most valuable property, a sprawling $9 million ranch north of town on Silver Meadow Road. Now a director at Huntsman chemicals corporation, Reaud is known throughout the legal community as a champion of working men and womenat least according to his bio by the Beaumont Foundation, for which he serves as a board member. 30 Apr 2023 21:08:34 Biggs also was a director of aerospace giants Boeing and McDonnell-Douglas and, in the years preceding the Great Recession, of JPMorgan Chase bank. The company is structured as a Real Estate Investment Trust. All Rights Reserved. EEE The company jet, part owned by Thornburg personally, is not up for sale. Robin Martin Kelcy Flanagan From there, he joined the SWAT and Celebration teams where he had opportunities to perform for countless audiences, including main event shows and Brian McGrath recently retired as Senior Vice President Human Resources at American Greetings, a $2 billion business based in Cleveland, with over 20,000 employees in the US and six other countries. Thornburg didn't leave. In January 2020, Oppenheimer was slightly behind Rupert with $7.33 billion to his name. Issad Rebrab is the founder and CEO of Cevital, Algerias biggest privately-held company. A University of New Mexico graduate, Kai began dancing at an early age in Santa Fe, New Mexico at Dance for Joy, Charisma and NDI New Kimberly White was born and raised in Albuquerque, New Mexico. $$$ Dewji was reportedly kidnapped at gunpoint in Dar es Salaam, Tanzania in October 2018 and released after nine days. The mortgage crisis ruined Thornburg's balance sheetsand the country's. In early January 2022, Rabiu listed his sugar and food firm BUA Foods on the Nigerian stock exchange with a market capitalization of nearly $2.8 billion. Mail letters to PO Box 4910 Santa Fe, NM 87502 or email them to editor[at]sfreporter.com. EEE Shares of Econet Wireless Zimbabwe, which he founded, rose more than 750% in the past year, helping to drive up the size of his fortune. He grew up in tiny Lakefield, Minn., where his father was a livestock broker; a 1949 edition of the Lakefield Standard records Thornburg Sheep Co. purchasing a prize lamb for $1.10 a pound. He owns just over 50% of the publicly-traded Econet Wireless Zimbabwe, which is one part of his larger Econet Group. $$$ But last year, after Millers bad bets led to a collapse in Legg Masons value, both The New York Times and The Wall Street Journal ran columns reassessing his legendary status. The Times blurbed Thornburg in June 1979, when the company made him a vice president. $$$ Nicky Oppenheimer, heir to the DeBeers diamond fortune, sold his 40% of the firm to mining group Anglo American for $5.1 billion in cash . She co-founded the National Dance Institute of New Mexico in 1994 (NDI-NM) and is past chair. Devin Lujan* He rebounded with a position at what is now the Empire State Development Corporation. Jamai Blivin EEE Leslie Nathanson Juris Two Dobermans and a rottweiler jog out to encircle visitors. The property doesnt appear to be in his name; neither is BGKs 2006 sport aircraft. "The incentive program for the senior officers was based directly on the amount of money returned to shareholders." In 2014, Oppenheimer started Fireblade Aviation in Johannesburg, which operates chartered flights. It would give them time to reorganize," he says. There are two Paul De Domenicos in Santa Fe; the son is 47, the father 75. $ish Glassman saved special praise for Thornburg Mortgage: "What makes it attractive is its whopping dividend yield, now 10.1 percent"compared to, say, 2.1 percent for Nike today. Per Celebrity Net Worth, Hepburn was reportedly worth $20 million at the time of her death . Affecting their life outcomes will change the picture of New Mexicos future and is the key to a thriving economy. According to a 2007 New York Times article, the De Domenicos also hoped to sell a property they purchased in Fiji some 40 years ago at the urging of their friend, actor Raymond Burr; the Times called it a network of lush valleys and hills, with its own waterfall, running streams, sunset views and about six kilometers, or four miles, of beach. Michiel Le Roux of South Africa founded Capitec Bank in 2001 and owns about an 11% stake. Before moving to Catherine's current city of Santa Fe, NM, Catherine lived in New York NY. It was divisive. "Garrett always, always, always purchased only the best loans. 2 spot up from No. TEX = Texas roots H Garrett Thornburg Jr. He oversees the consumer goods division, which includes supermarket chain Metro, and sole distribution rights for LOreal in Egypt. New York Magazine called it a rugged adobe pleasure dome in a 2006 story about the controversy the home caused; many locals use harsher words. Paul De Domenico $$ish "New Mexico is very perfect for me," Jirby says. $$ Its been generations since the value of a dollar was in such doubt, with the US government planning to run a deficit over the next decade of $9,000,000,000,000thats a record $9 trillionenough to buy every adult Santa Fean a new F-22 fighter jet or a large stake in a uranium mine. He was building this famousin his estimationbuilding. Ali MacGraw Meaghan Oppenheimer has a net worth of $4 million as of 2022. Everybody's happy on the way up because everybody seems to be making more money." Reaud owns the only Gulfstream IV, a 19-passenger business jet that costs roughly $20 million, registered in Santa Fe County. Nicky Oppenheimer Net Worth: 4 Billion - As of April 2012 Source of Wealth: Mining, Diamonds The grandson of the founder of mining behemoth Anglo American, which now owns the world famous De Beers diamond group, Oppenheimer has benefitted from a surge in the company's share price. Michael Zarin, named a Bear Stearns VP at the same time as Thornburg, remembers him as talented and scrupulous. Benjamin Thomas* Oppenheimer Asset Management works with a variety of client types. In February 2008, the Swiss bank UBS reported an $11.3 billion loss based on US mortgages designated as "Alt-A." "Unbeknownst to the attendees of the meeting and investors," the suit claims, Thornburg "was just two days away from commencing the sale of 35 percent of its highest quality mortgage-backed assets to meet margin calls." Biggs, the former chairman, president and CEO of one of the nations largest financial services companies, TIAA-CREF, must be on any list of Santa Fes wealthiest. "The real issue is, what are you trying to achieve?" He has been in the USA for over 20 years, 10 of those being in Albuquerque. $$ish The wealthy have felt the contraction, too: Yesterdays billionaires are todayshundred millionaires. Calling themselves Concerned Citizens of Santa Fe North, Collins and few other well-heeled residents sued to stop the construction of Thornburg's planned headquarters on Ridgetop Road. At Bear Stearns, Thornburg told interviewers, he developed expertise in using public "industrial revenue bonds" to benefit private developers. Girard is president of her family business, Greer Enterprises, the real estate company developing a condo/retail project at the Lensic. The core values of NDI New Mexico are well matched for the core values of our firm. The second time is now. Today Albin, 50, is a director of several energy companies, including NGP Capital Resources, and has a $2 million home in Las Campanas with his wife, Pamela. He and his son retained a 96% stake in the company. Letters (no more than 200 words) should refer to specic articles in the Reporter. Carol Cochran Albin also owns a 2006 Cessna Citation business jet. The Oppenheimer family has a combined net worth of $8.2 billion, largely through the 2012 sale of their stake in De Beers for about $5 billion, according to the Bloomberg Billionaires Index . W/C HOVER TO REVEAL NET WORTH BY YEAR . Nicky Oppenheimer net worth: Nicky Oppenheimer's net worth is $8 billion which makes him one of the richest people in South Africa. EEE He would also keep his father's gun collection and his interest in Thornburg Sheep Co. back in Minnesota. He denies any wrongdoing. One is that housing prices always go up and stock prices always go up," Eric Janszen, a former venture capitalist and author of a forthcoming book, The Post-Catastrophe Economy, says. Gerald Peters According to a June 2009 article in the Las Vegas Review-Journal, Stertzer named Luis Hidalgo Jr., a friend, to manage the clubHidalgo Jr. drove a Pantera auto and frequently carried a handgun and wads of cash. Hidalgo Jr. and his son, Luis Hidalgo III, were sentenced to life in prison this year for the 2005 murder of a doorman. Instead, he tried to make New Mexico work for him. She started her working life with what was then Albuquerque National Bank and left to work with her father at Rust Tractor Co. until the dealership sold in 2002. Catherine Oppenheimer co-founded the National Dance Institute of New Mexico in 1994 (NDI-NM) and the New Mexico School for the Arts (NMSA) in 2010. Sarofim, who has a farm in Tesuque, has funded exhibitions at SITE and made the ARTnews top collectors list. The Great Recession has thrown at least 3,300 Santa Feans out of work since last August. The Microsoft co-founder owns the $12.8 million Sol y Sombra house, formerly a Georgia OKeeffe estate. Back in 1985, he sued a local contractor over the 14,000-square-foot indoor horse-riding arena hed built on his property; the contractors estimate was $321,000, but it ended up costing twice as much. The House Thornburg Lost | | Santa Fe Reporter Bloomberg Billionaires Index - Nicky Oppenheimer Ocean Munds-Dry is Managing Counsel for ConocoPhillips where she advises the company on New Mexico legal and regulatory matters. Litigating shareholders say Thornburg Mortgage overborrowedleveraging up to $12.50 for every $1 it held in equity, well over what federal regulations allow for commercial banks. W/C Meet the ultra-rich South Africans you've probably never heard of Assessed at nearly $16 Thornburg spokesman Miller says that won't happen anyway and that the payments are up-to-date. Net worths were calculated using stock prices and currency exchange rates from the close of business on Wednesday, January 19, 2022. As Apple's CFO Peter had a wide range of responsibilities including overseeing the controller, treasury, investor relations, tax,. Newspapers called him a genius. Johann Rupert is chairman of Swiss luxury goods firm Compagnie Financiere Richemont. That extra cushion isnt the only difference between the rich and the rest. Naguib Sawiris is a scion of Egypts wealthiest family. TEX "And basically, the only ones that really survived this were if you were a bank and had access to the federal funding." Hilma Chynoweth* For 85 years until 2012, the Oppenheimer family occupied a controlling spot in the worlds diamond trade. He and wife Nancy are major donors to the Lensic; they have a $2.6 million home on Calle De Agua. $$ish Paul Cassidy Also on that list was her ex, Egyptian-born super-investor Fayez Sarofim (aka The Sphinx), who gave her $250 million in a 1989 divorce settlement that Forbes called the largest in Texas history. As rise-and-fall stories go, Thornburgs is neither the biggest nor the most shocking. As the mother of a six year old, she was able to segue Diane currently serves as the chair of NDI New Mexicos Santa Fe Development Committee and member of the Executive Committee. The quasi-public sector launched Thornburg to Bear Stearns, the recently deceased investment bank. Bill & Nancy Zeckendorf Their family invented Rice-A-Roni. He made his first million at age 26 selling lace and distributing soft drinks. Dangote Cement produces 45.6 million metric tons annually and has operations in 10 countries across Africa. Originally from Myers Godwin joined NDI New Mexico in 2012 and now serves as the organizations Albuquerque Cynthia Delgado, Government & Corporate Relations Director, a position she has held since July Jenn Venegas was born and raised in El Paso, Texas. He's making loans at 5. "That's how these credit bubbles work. Last summer, Thornburg traveled to Washington, DC and met with Federal Reserve Chairman Ben Bernanke, Treasury Department officials and staff for US Sens. Nicky Oppenheimer, heir to the DeBeers diamond fortune, sold his 40% of the firm to mining group Anglo American for $5.1 billion in cash in 2012. "I don't think it ever came up," former County Commissioner Jack Sullivan says. We also welcome you to follow SFR on social media (on Facebook, Instagram and Twitter) and comment there. He was the third generation of his family to run DeBeers, and took the company private in 2001. In public schools throughout the state, our expert instructors lead programs that are character-building and use dance to teach an important life lesson: that working hard, doing your best, never giving up, and living a healthy life equals success. $$ish In 1998, he hired Ron Chicaferro, then working for another REIT, to lead Thornburg Home Loans. Hamilton, 67, was for decades a senior executive at one of the worlds biggest corporations, Procter & Gamble; in 2005, he joined the board of Dominos Pizza. Lawrence J Burke There was no internet. Anne & John Marion His eclectic musical Holly Mead is a composer, pianist, recording artist, educator, and recenttransplant to Santa Fe, Jesus is a Miami born pianist who built his reputation as a proficientclassical & Kevin originally trained to be a pianist but caught the dance bug in high school. Simon H Stertzer $$$ Jess Sanchez, Co-Chair* Strive Masiyiwa, a citizen of Zimbabwe and a London resident, appears on the list due to his telecom holdings in Africa. In December 1971, still in Jamaica, Thornburg married Inger Jirby, an artist from northern Sweden, who speaks seven languages. William A Miller Truth is, any time you see a richest list, whether its in Forbes or Fortune or the defunct Crosswinds weeklywhich published a New Mexicos-richest list in 1996the methodology behind it is at best educated guesswork. Bekker, who retired as the CEO of Naspers in March 2014, returned as chairman in April 2015. Some list members grow richer or poorer within weeks or days of our measurement date. It claims that by April 2007, Thornburg acknowledged "burgeoning concerns" with the Alt-A market but assured investors that their money was safe because Thornburg was "different. 01 May 2023 14:48:20 Sunday Times Rich List 2012 - UK's Richest People | TheRichest The New Mexican said residents "should be glad the company didn't grow weary of NIMBYism and forsake Santa Fe for Santa Barbara or some other la-di-dah address," in an editorial against Concerned Citizens. She graduated from Vassar with a BA in psychology and moved to Washington, DC to begin her career on Capitol Hill. The CEO of defunct Thornburg Mortgage still earns $188,000 a month, even though his company is bankrupt, according to court documents. In March, President Barack Obama singled out AIG for scorn regarding large bonus pay, saying, This is a corporation that finds itself in financial distress due to recklessness and greed. Caseys wife Marian, who serves on SITEs board of directors, donated $750 to Obamas campaign last year. "We don't know where the money's going, what the impact is or what the rate of return is." Catherine Oppenheimer Experience: With 37 years of accounting and consulting experience (30 in the employee benefits field), Carol has significant expertise in compensation planning, leadership development and succession planning, employee benefits, and retirement plans. Alt-A falls somewhere between prime and subprime. Instead of taxes, Thornburg agreed to pay the city a flat sum of $25,000 a year. $$ It belonged to Thornburg's first wife, a Swedish artist, who lived there with the couple's son, then 6. Letters will be edited for space and clarity. The strategy saved tons on storefronts and salespeople. The Legislative Finance Committee suggested the true benefit lay elsewhere: "LFC is aware of one company already located in New Mexico, Thornburg Investment Management, which will benefit from the proposed deduction"to the tune of $210,000 annually. The company is best known for the brands Cartier and Montblanc. Donate today to Friends of the Reporter. Heather Roach*, Linda DiPaolo Love, Co-Chair The former RJR Nabisco board chairman and his wife have a $1.5 million home here. Leslie Nathanson Juris $$ Mansour Group is the exclusive distributor of GM vehicles and Caterpillar equipment in Egypt. Knutson and wife Miryam own a $6 million home on Circle Drive. Akhannouch was appointed prime minister of Morocco in September 2021. Crosswinds put the real estate tycoons net worth at $200 million in 1996. 1, we had 1 or 2 percent short-term interest rates. David Foster Jeffrey E Epstein Michael L Klein Catherine Oppenheimer - United States | Professional Profile - LinkedIn And fine mortgage securities made up of our fine mortgages were rated AAA," Thornburg told investors last year. The governor said Thornburg was a good friend of his, that Thornburg was a good civic leader, that the financial businesses that Thornburg had created in Santa Fe created high-paid jobs. David R Albin For over 45 years, his impact has been profound Jamai is Founder and CEO Emeritus of Innovate+Educate, a non-profit she started in 2008 with a vision for an industry-led board focused on education and workforce strategies to address the significant gaps between supply/demand in both education and workforce. In their bond application, Thornburg's team noted that he donates $35,000 a year to Partners In Education Foundation, a nonprofit, and more than $100,000 a year to Santa Fe Public Schools. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Your email address will not be published. Although Meaghan wasn't in pageants herself, she definitely had friends that competed, and she knew a lot about this world. The grandson of mining entrepreneur, financier, and Anglo-American founder Ernest Oppenheimer, Oppenheimer joined Anglo American in 1968, serving as its director and deputy chairman until his resignation in 2011.
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