Sam Wyly’s profile picture

Sam Wyly

Sam Wyly’s profile picture
Net worth 2018: $20 Million
Industry: Business People
Residence: Louisiana, USA
Country: United States
BirthDay: 4 October 1934
Sigh: Scorpio
Education: University of Michigan, Louisiana Tech University, Ross School of Business

Sam Wyly was bornon 4 October 1934 in Louisiana, USA, American, is Entrepreneur. Sam Wyly is undoubtedly one of the most significant names in contemporary American business history. His life is an incredible rags to riches story, which inspires many people today. He was born to a working class family and from a tender age sought to help his parents in their business of printing press. He apparently developed an interest in entrepreneurship and learnt the tricks of the trade while working with his parents. At a time when a degree like Master of Business Administration was not really popular, this man completed his schooling and earned an MBA degree. He earned a scholarship and this helped Wyly complete higher studies in spite of belonging to a poor family. His capabilities earned him a job of a salesman at ‘IBM’. He enhanced his skills while working at the company and later got another job as an area sales manager. However, his innate entrepreneurship quality led him to establish his own firm named ‘University Computing Company’ which was formed with minimum investment. In due course of time, the same company established itself as one of the most renowned business ventures owing to the management and operating skill of Wyly. He has incorporated all the knowledge he gained at the university and at his work places into his business ventures and has been instrumental in building many companies through strategic investments


$20 Million


In 2015, he was charged of income tax evasion and both he as well as his late brother were charged by the ‘Internal Revenue Service’


This businessman also co-wrote a book named ‘Texas Got It Right!’, which was published in 2012


Author Dennis Hamilton penned a biography of Sam Wyly in 2011 entitled ‘Beyond Tallulah, How Sam Wyly Became America’s Boldest Big-Time Entrepreneur’


In 2007, he along with his brother Charles Wyly bought the bookstores named ‘Bistro’ and ‘Explore Booksellers’


Wyly was the individual who held highest amount of stocks of the institution called ‘Green Mountain Energy’, by 2006


He was a co-founder of the firm ‘Maverick Capital’, which was established in 1990, and about thirteen years later, this company had assets worth $8 billion


In 1986, he acquired the retail chain named ‘Frost Bros’, but within three years the company was dissolved, owing to bankruptcy protection


This man was the co-founder of the company ‘Sterling Software’ in 1981, and the following year, he purchased the controlling interest of ‘Michaels’, which is an arts and crafts chain


He traded a computer terminal to the company ‘Harris-Intertype’ in 1972 and also became an investor in it


In 1970, he acquired the company ‘Computer Technology’ at $40 million, which was the data processing in-house division of ‘Ling-Temco-Vought (LTV)


He bought the company ‘Gulf Insurance’ in 1968, and around the same time, he co-founded the firm ‘Earth Resource Company’, where he remained the Executive Committee Chairman for more than twenty decades


Sam, along with his brother Charles Wyly, purchased the chain of restaurants named ‘Bonanza Steakhouse' in 1967


He founded a company named ‘University Computing Company’ in 1963


In 1960, Wyly married a lady named Rosemary but the couple separated after approximately fifteen years of being together


He then completed his MBA in 1957, from this prestigious university


and Flora Wyly on 4th October, 1934, in Lake Providence, Louisiana

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