Paul Bilzerian is a successful takeover specialist in the American corporate sector. He spearheaded the most widely talked about the takeover in America – Singer Corporation. Through his shrewdness and financial planning, he was able to accomplish what his peers could have only dreamed of. To know more about the net worth of Paul Bilzerian in 2018, read the following article.
Early Life & Biography:
Paul Bilzerian was born in 1950 in Miami City of Florida State. Though born in Miami, Bilzerian spent most of his childhood years in Worcester, Massachusetts. Son of a civil servant, Bilzerian’s parents divorced when he was very young. This lead to a troubled childhood for Bilzerian. When he was called to the principal’s office for not wearing the correct dress code, he responded unexpectedly by dropping out of school.
Bilzerian shunned this image in the society after he won the Vietnamese Gallantry Cross, Bronze Star and Army Commendation medals in the Vietnam War. Working on a personal turnaround, he completed his bachelor’s from Stanford University and moved to Harvard Business School.
Like most classmates who develop a bonding over the course of their academics, Bilzerian too developed an infatuation for someone. Terri Steffen was his classmate at Stanford University. He tied the knot with her in the year 1978. They together are parents to two children – Adam and Dan. Both their sons are professional poker players.
Career, Awards & Nominations:
Bilzerian has a long history of successful and unsuccessful takeovers. He seems to have done well with his real estates ventures in comparison to his corporate extravaganzas. His first takeover bid was of WPLP, a Tampa Bay radio station. Though the takeover was successful, the company did not fare well and had to ultimately file for bankruptcy.
There were two other takeover bids – Cluett Peabody & Company and Hammermill Paper Company which Bilzerian, along with his fellow investors was not able to execute. However, they made a profit running into millions from their partial investments in the shares of these companies.
Bilzerian’s most talked about the takeover is of the defense manufacturing company called Singer Corporation. Most of the critics were of the view that it would not fall through but Bilzerian and his partner investors made sure that it did. Soon his high profile takeovers captured the attention of legal experts and federal courts. After a strong case against him, he was convicted on nine counts and was awarded four years prison time along with a fine of $1.5 million in 1989.
Net Worth & Earnings:
A series of takeover bids and carefully chalked out investment plans has made Blizerian accumulate a net worth of $85 million. He and his wife owned a beautiful mansion which used to go by the name -‘Taj Mahal.’ Owing to the pressure from the Securities and Exchange Commission, they sold the mansion in 2004 for a hefty $2.55 million.
Bilzerian’s takeover bids have made headlines and made people rich. The investors love him for having successfully increased the price of their holdings, whatever the reason might have been. Though there have been several charges against him, Blizerian still says that he is innocent and the only case that could be built against him is of earning profits, the genuine way!