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Richard Rainwater

Richard RainwaterAKA Richard Edward Rainwater

Born: 1944

Gender: Male
Race or Ethnicity: White
Sexual orientation: Straight
Occupation: Business
Party Affiliation: Republican

Nationality: United States
Executive summary: Billionaire investor

A classmate of Sid Bass at Stanford, Rainwater became investment manager for the four Bass brothers from 1970 to 1986, turning their $50M inheritance into $5B, mostly from lucrative investments in Disney and Texaco. He left Bass in 1987 to form Columbia Hospital, which merged with HCA in 1994. At the request of George W. Bush and Edward W. Rose, Rainwater organized the investment team that bought the Texas Rangers in 1989[1]. In the mid-90s he put wife Darla Moore in charge of his investments; success led to their acquisition of Mesa Petroleum from T. Boone Pickens in 1996. A believer in peak oil[2], Rainwater began taking long positions on energy around this time, to great success in the 00s. Net worth $3B (Forbes 2008).


[1] Barry Meier, "Midas Touch Was Billionaire's Gift to Bush", The New York Times, 30 October 1999.

[2] John Helyar, "Sittin' Pretty", Fortune, 11 June 2001. Oliver Ryan, "The Rainwater Prophecy", Fortune, 26 December 2005. Brian O'Keefe, "Time To Bet On An Oil Crunch", Fortune, 1 October 2008.

Father: (grocer)
Mother: (J.C. Penney sales clerk)
Wife:
Darla Moore (b. 1954, m. 1991, three children)

    University: BA Mathematics, University of Texas at Austin
    University: MBA, Stanford University Graduate School of Business (1968)

    Crescent Real Estate Equities Company (1994-)
    Columbia Hospital Founder (1988)
    Rainwater, Inc. Founder (1986)
    Member of the Board of HCA (-1994)
    John McCain 2008
    Kay Bailey Hutchison for Senate
    National Republican Congressional Committee

    SPORTS FRANCHISE HISTORY
    Texas Rangers Minority owner (1989-98)


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