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Bruce Wasserstein Chao's professional journey is a testament to his unwavering dedication and exceptional leadership skills. He was a renowned investment banker and a highly respected figure in the financial industry.
Born in 1957, Bruce Wasserstein Chao grew up in a family that valued education and hard work. His father, Lee Chao, was a successful businessman who instilled in Bruce the importance of perseverance and determination.
Bruce Wasserstein Chao's academic achievements are a reflection of his intellectual curiosity and strong work ethic. He graduated from Yale University in 1979 and later earned his MBA from Harvard Business School in 1980.
Throughout his career, Bruce Wasserstein Chao consistently demonstrated his ability to drive results and build successful teams. He was a key player in several high-profile mergers and acquisitions, including the $25 billion acquisition of Time Warner by AOL.
Early Life and Career
Bruce Wasserstein Chao was born in 1947, which makes him a 1947 birth. He went on to attend the University of Michigan, where he was a member of The Michigan Daily.
He later attended Harvard Business School and Harvard Law School, becoming a Harvard Business School alumni and Harvard Law School alumni.
Wasserstein's early career began at Cravath, Swaine & Moore, an esteemed law firm, where he started as an attorney.
Professional Achievements
Bruce Wasserstein Chao was a highly accomplished businessman, with a career spanning over four decades. He was the co-head of First Boston Corp.'s merger and acquisition practice, which was the dominant practice at the time.
He left First Boston in 1988 to form investment bank boutique Wasserstein Perella & Co., which he sold in 2000 to Germany's Dresdner Bank for around $1.4 billion in stock. This deal cemented his reputation as a shrewd businessman.
Here are some of his most notable professional achievements:
- Co-head of First Boston Corp.'s merger and acquisition practice
- Founder of Wasserstein Perella & Co.
- Sold Wasserstein Perella & Co. to Dresdner Bank for $1.4 billion in stock
- Head of the financial services firm Lazard
- Led the initial public offering of Lazard
Career
As you navigate a career in finance, it's essential to understand the journey of professionals like Martin S. Wasserstein. He started his career as an attorney at Cravath, Swaine & Moore.
Wasserstein then moved to First Boston Corp. in 1977, where he rose to co-head of the company's merger and acquisition practice. This experience laid the foundation for his future success.
In 1988, Wasserstein left First Boston to form investment bank boutique Wasserstein Perella & Co. with colleague Joseph Perella. He controlled Wasserstein & Co., a private equity firm with investments in various industries, particularly media.
Wasserstein sold American Lawyer Media to Incisive Media for about $630 million in cash in July 2007. He was credited with the term "Pac-Man defense", which is used by targeted companies during a hostile takeover attempt.
Wasserstein's career highlights include:
- Co-head of First Boston's merger and acquisition practice
- Founder of investment bank boutique Wasserstein Perella & Co.
- Owner of private equity firm Wasserstein & Co.
- Creator of the "Pac-Man defense" term
Lazard Banker Dies
Mortimer "Mickey" Wasserstein was a highly accomplished banker who left a lasting impact on the financial world. He was born in 1947 and passed away in 2009.
Wasserstein started his career as an attorney at Cravath, Swaine & Moore before moving to First Boston Corp. in 1977. He eventually rose to co-head of the company's merger and acquisition practice.
Wasserstein was a pioneer in the field of finance, co-founding investment bank boutique Wasserstein Perella & Co. in 1988. He sold the company to Dresdner Bank in 2000 for around $1.4 billion in stock.
Here are some key highlights from Wasserstein's impressive career:
Wasserstein's contributions to the financial world were not limited to his professional achievements. He was also a successful private equity investor, controlling Wasserstein & Co., a private equity firm with investments in various industries, including media.
Personal Aspects
Bruce Wasserstein Chao's personal life was quite complex, with four marriages and seven biological children. He was married to Angela Chao from 2009 until his death.
Bruce's children come from different marriages, and he had a total of seven biological kids. He had three children with Christine Parrott, two sons with Claude Becker, and one child with Laura Lynelle Killin.
Here's a brief rundown of his children and their mothers:
- Laura Lynelle Killin: Ben, Pam, Scoop
- Christine Parrott: Ben, Pam, Scoop
- Claude Becker: Jack, Dash
- Laura Lynelle Killin: (one child, name not specified)
Personal Life
Bruce Wasserstein was married four times, which is a pretty impressive feat, considering the number of children he had along the way.
He had seven biological children from his four marriages. That's a lot of kids to keep track of, but I'm sure his ex-wives were all very involved in raising them.
One of his ex-wives, Christine Parrott, is a psychoanalyst and had three children with Bruce: Ben, Pam, and Scoop. She's also remarried to Dan Rattiner, an American journalist and newspaper publisher.
Bruce's fourth wife, Angela Chao, was the sister of Elaine Chao, who is married to U.S. Senator Mitch McConnell. That's quite a connection to the political world.
Here's a quick rundown of Bruce's marriages and children:
- Laura Lynelle Killin (married 1968, divorced 1974) - 0 children
- Christine Parrott (divorced 1992) - 3 children (Ben, Pam, Scoop)
- Claude Becker (married 1996, divorced 2008) - 2 children (Jack, Dash)
- Angela Chao (married 2009, up until Wasserstein's death) - 0 children
It's worth noting that Bruce's family life was quite complex, with multiple marriages and children from each relationship.
Philanthropy
Wasserstein made a significant donation to Harvard Law School in 2007, giving them $25 million to create a large academic wing.
This donation was used to build the Northwest Corner complex, which now includes Wasserstein Hall.
Wasserstein Hall is a notable addition to the school, providing new facilities for students and faculty.
The $25 million donation had a lasting impact on the school, allowing them to expand and improve their facilities.
Frequently Asked Questions
How long was Angela Chao married to Bruce Wasserstein?
Angela Chao was married to Bruce Wasserstein for approximately 9 months, from January to October 2009. Their marriage was a brief but notable one.
How old was Bruce Wasserstein when he died?
Bruce Wasserstein was 61 years old when he passed away. He died three days after being hospitalized for an irregular heartbeat.
What happened to Wasserstein Perella?
Wasserstein Perella was acquired by Dresdner Bank in 2001, but its legacy continued through its former executives, including Bruce Wasserstein, who went on to lead Lazard.
How much is wasserstein worth?
Wasserstein's net worth was approximately $2.2 billion, not including a $188 million payout triggered by his death. His total compensation in 2008 was $20.4 million.
Sources
- https://en.wikipedia.org/wiki/Bruce_Wasserstein
- https://www.nytimes.com/2009/10/15/business/15wasserstein.html
- https://www.alumni.hbs.edu/stories/Pages/story-bulletin.aspx
- https://www.latimes.com/local/obituaries/la-me-bruce-wasserstein15-2009oct15-story.html
- https://dealbook.nytimes.com/2009/10/14/bruce-wasserstein-lazard-chief-dies/
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