Richard Rainwater Net Worth

Richard Edward Rainwater net worth is
$2.8 Billion

Richard Edward Rainwater Wiki Biography

Born Richard Edward Rainwater on the 15th June 1944, in Fort Worth, Texas USA, he was an investor and fund manager, earning his wealth through numerous investments in the oil industry, and starting his own company ENSCO International, and Pioneer Natural Resources, among other business ventures. Richard passed away in 2015.

Have you ever wondered how rich Richard Rainwater was, at the time of his death? According to authoritative sources, it was estimated that Rainwater’s wealth was as high as $2.8 billion, an amount earned through his successful career, active from the late ’60 until the 2000s.

Richard Rainwater Net Worth $2.8 Billion

Richard grew up in a working-class family in Fort Worth; his father was a wholesale grocer and of Lebanese descent. After high school, Richard enrolled at the University of Texas at Austin, graduating with a degree in mathematics. His education didn’t end there as he continued at Stanford Business School from which he received an MBA degree in 1968.

Soon after finishing studies, he was hired as an investment banker in a local company, but then became a manager of the Bass family fund and their main investor, securing the job on a recommendation from his former classmate Sid Bass. He received $5 million for investment in his first year of his tenure, however, several unsuccessful investments led to his dismissal.

Never afraid to ask, Richard had then spent time with several investors such as Warren Buffet, and Charles Allen, Jr., speaking to them about different investment strategies. He came back to his position as Bass family’s main investor and earned them another $5 billion in the years to come.

From then, Richard ventured out on his own, and started a number of companies, mostly in the oil industry as he saw the peak oil phenomenon. Some of the companies include the offshore drilling contractor headquartered in London, ENSCO International, and Pioneer Natural Resources Company, which is a petroleum, natural gas liquid and natural gas exploration and production company, the success of which increased his wealth to a large degree.

Thanks to his successful career Richard was presented with the Arbuckle Award at Stanford in 2010.

Regarding his personal life, Richard was married to Darla Moore from 1991 until his death in 2015, but the two had lived separately since 2001. The couple had three children together, including son Matthew, who had taken care of his father from 2011 until his death, as he was unable to perform daily operations on his own, due to the degenerative disease.

Back in 2009, he was diagnosed with the progressive supranuclear palsy, which caused deterioration of specific areas of the brain. He was 71 at the time of his death, passing away on the 27th September 2015 after several years of suffering from progressive supra-nuclear palsy.

Richard was also well-known for his philanthropic activities; in the early ‘90s, he started the Rainwater Charitable Foundation through which he supported numerous causes, including education, health, and sports, focusing primarily on improving the lives of children in need. Several years before his death, the foundation also made donations to neuroscience research projects and facilities.

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