Samuel Wyly’s profile picture

Samuel Wyly

Samuel Wyly’s profile picture
Net worth 2018: $1 Billion
Industry: Investments
Country: United States
BirthDay: 4 October 1934
Sigh: Scorpio
Children: 6
Education: Bachelor of Arts / Science, Louisiana Tech University; Master of Business Administration, University of Michigan
BIOGRAPHY

Samuel Wyly was bornon 4 October 1934 in United States. It hasn't been a good year for Sam Wyly: he and his brother Charles face charges of insider fraud. The SEC alleges the Louisiana-born brothers hid profits offshore, failing to disclose gains of $550 million. Their lawyers claim the charges are without merit. Sam went to Louisiana Tech, where he paid his way in part by selling class rings. Later founded University Computing in 1963 with $1,000. Generated $57 million in sales in the next five years. Over the years, his investments have included stakes in Michael's chain of craft stores (sold in 2006) and Bonanza Steakhouses. Both he and Charles have made large donations to Republican causes and campaigns. Devout Christian Scientist.

NET WORTH STATISTIC
2010

$1 Billion

2018

$1 Billion

TIMELINE
2016

Wyly's adult children Evan and Lisa Wyly in 2016 filed a motion to intervene in the case to prevent the IRS from accessing those funds

2015

In April 2015, the Internal Revenue Service filed claims amounting to $3

2014

On October 19, 2014 Sam Wyly filed for Chapter 11 bankruptcy, along with Dee Wyly, his brother's widow, having lost the fraud case brought by the SEC

2012

Sam and his son, Andrew Wyly, (with a Foreword by Walter Isaacson), wrote Texas Got It Right! in October, 2012 (Melcher Media)

2011

In August 2011, just after they had their usual Sunday morning breakfast after church, Charles was killed in a car accident in Aspen's Roaring Fork Valley

2010

On July 29, 2010, the SEC charged Charles and Sam Wyly with fraud for violating federal securities laws governing ownership and trading of securities by corporate insiders

2008

Wyly said in 2008 that he was not leaning toward Republican John McCain or Democrat Barack Obama in that year's presidential campaign, and would not get involved in the race

2007

In March 2007, commenting on the purchase of a local bookstore by Wyly and his wife Cheryl, the Aspen Times noted that the Wyly family "has been known not only for its philanthropic efforts, but also its large contributions to conservative political campaigns and candidates

2006

In August 2006, the Dallas Morning News reported that Sam and Charles Wyly were again under investigation by the SEC, a grand jury in Dallas and a grand jury in New York, regarding their use of potentially illegal offshore tax shelters

2004

In 2004, Wyly also donated $20,000 to the Swift Boat campaign that raised questions about Sen

2000

He also made a $10 million gift for Sam Wyly Hall, at the University of Michigan (2000)

1998

In 1998, he had an excruciating choice to make when his friend, Perot, and his friend, Bush '41, both ran for President

1992

When Wyly introduced Cheryl to President Bush 41 in 1992, Bush said, "These Wyly brothers have backed me in every race I ever ran—and they never asked for anything

1988

They met in the summer of 1988, and they married in 1994

1983

And in 1983, they endowed the University with the sixteen story Wyly Tower of Learning using profits from their University Computing stock

1979

In 1979, Wyly settled Securities and Exchange Commission (SEC) charges that he made undisclosed payments to associates to buy up company bonds as part of a plan to stave off bankruptcy for University Computing after the $100 million Datran loss

1978

Bush's run for Congress in West Texas in 1978 and for governor in 1994 and president in 2000 and 2004

1970

" Wyly and his brother Charles have personally given about $10 million to Republican causes and candidates between the early 1970s and 2006, they say; both are Bush Pioneers

1969

In 1969, moderate Republicans got Nixon to appoint Wyly to the PBS board to help defend its budget

1968

Earlier, in 1968, he set up the Sam Wyly Foundation to help black business owners

1963

In November 1963, the month that Wyly Started his company, President Kennedy was shot in Dallas

1960

From 1960 to 1976, Wyly was married to Rosemary Acton

1957

" In 1957 he received a Master of Business Administration

1952

" In 1952, known at the time as "Bubba" Wyly, he was the head page in the Louisiana House of Representatives, recalled one of the young men who worked under his supervision, Jasper "Jake" Smith, III, son of State Representative Jasper K

1934

Wyly, known as Sam Wyly (born October 4, 1934), is an American entrepreneur and businessman, author, philanthropist, and major contributor to conservative campaigns and candidates

1600

His forebears came to America convergently in the 1600s, 1700s, and 1800s

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