Harold Simmons Net Worth Money and More
NetWorth: 8.3 Billion Dollars
Harold Clark Simmons was born in golden, Texas on 13 May 1931. He was an American billionaire and American businessman. The leveraged buyout (LBO) is developed by him. Currently, he owes the Contran Corporation. The Valhi, Inc. is also owned by Harold that is NYSE enumerated corporation and it is organized by Contran. The 6 main organizations that are preserved by him are-
- Titanium Metals Corporation
- NL Industries
- Valhi, Inc.
- Waste Control Specialists
- CompX International
- Kronos Worldwide
Also, from Forbes point of view the net value of Harold Simmons is $8.3 billion up to March 2013 which makes him the richest and amusing person in Texas. This is a sign of his great success in the field of business.
His Life and Education
Harold Simmons is the son of Reuben Leon and Fairess Clark Simmons. The occupation of his parents was teaching and both were Baptists. Simmons had completed his BA and MA from the University of Texas which is at Austin in the field of Economics. He achieved the Phi Beta Kappa Key also.
Not only once, Simmons married three times. He has two children from his first wedding named as Scheryle and Lisa. Ultimately, from his second wedding that is finished with divorce also have two children- Andrea and Serena. Now recently he is with his third wife named Annette Caldwell Fleck. Simmons third wife is a divorcee and has two children from her last wedding.
After finishing his education, Simmons functioned as bank examiner for the United States and also for other financial groups. In 1960, from his savings i.e. $5000 and taking a loan of $95,000, he credited a drug store from the Southern Methodist University named University Pharmacy which is on Hillcrest Avenue. Initially the University Pharmacy was the spot of ethnically charged in Jan 1961. Simmons got it when the C.K. Bright who is the owner of the University scattered insecticide on 60 students. Then finally Simmons bought it and parlayed into the sequence of 100 stores and then he makes the profit by selling the store for about more than $50 million to Eckerd Corporation. This was the starting of his success of his career in the field of financial industry.
Other than businessman, he is also involved in political works and activities. He is linked with many political rights and nominees, and also has a big hand in supporting the Ronald Reagan and George W. Bush who are the future presidents, since 1980s. In addition to this, he is very supportive in contributing the large amount to many charities. Harold had been involved in fraudulent activity and he had to charge for it by 1974 and also in a case related to the pension. This case is brought against him by the United Auto Workers.
Simmons has his own philosophy that is ultimate named as “All debt and no equity” that means he has done all his duty and in return what he get, nothing no justice. This philosophy is mainly for capital management as he realized all banks when he was at the post of bank examiner and realized that all the banks in Texas that are small was not eager in using the funds at the maximum level. Banks didn’t want the justice of their work and they were very casual. They only just want the confidence and faith of people.
When Simmons attained the 20 per cent of its store, he organized an ineffective and publicized takeover effort on the Lockheed Corporation. Lockheed was so impressed by Simmons because the retirement fund of California, California Public Employees’ Retirement System (CalPERS) was his first investors. At this there is a headline in the New York Times which said that the attraction of Harold Simmons to the Lockheed is due to its retirement pension plan and that is sponsored by $1.4 billion or more than that. Predictors also said that certainly he may want to discharge the pension plan and pay the extra fees to some shareholders and also to him. The Daniel M. Tellep was not able to correctly manage the things so Simmons wants to change the chairman with his own choice as he was the biggest investor. So, the nominee for the post of chairman was former Texas Senator John Tower, the chairman of the Armed Services Committee only for the one time and the third one was Admiral Elmo Zumwalt Jr. who was the chief of Naval Operations. Simmons’s prosperity is because of two reasons. One is what investments he made and other is takeovers in the corporate world. In the morning newspaper Dallas, his total net value was showed as $10 billion. Adding to his donations, Simmons in the last two years had given a million of dollars just to conquest the re-election drive of Barack Obama.
Dallas billionaire Harold Simmons is now no longer with us. He died at the age of 82. His journey of life began from roots of East Texas and grew in to wealthiest men of America. Simmons wife A|47
Simmons was an isolated person yet he was a political donor who provide money to national and state Republicans. He was very much interested in donating money to such a Resource Center where various Dallas lesbians, bisexual, guy and transgender types of people are served. He was a great man who always donated money to various charities and trustable funds. Here are some organizations where he donated money-
- Restore Our Future (pro-Mitt Romney) – $2.3 million
- Texas Conservatives Fund (pro-David Dewhurst) – $1.1 million
- Conservative Renewal (pro-Dewhurst) – $500,000
- Make us Great again (pro-Rick Perry) – $1 million