|Birth Day:||June 15, 1944|
|Death Date:||September 27, 2015(2015-09-27) (aged 71)
Fort Worth, Texas, U.S.
|Height:||in centimeters - N/A|
|Weight:||in kg - N/A|
As per our current Database, Richard Rainwater died on September 27, 2015(2015-09-27) (aged 71)
Fort Worth, Texas, U.S..
With the net worth of $2.8 Billion, Richard Rainwater is the # 589 richest person on earth all the time follow our database.
Richard Edward Rainwater (June 15, 1944 – September 27, 2015) was an American investor and philanthropist. With an estimated net worth of $3 billion, he ranked 211th on the Forbes 400 in 2015.
Rainwater grew up in Fort Worth, Texas. His father owned a wholesale grocery business and his mother was a clerk at J.C. Penney. He is of Lebanese roots. Rainwater graduated from R. L. Paschal High School. In 1963, he was initiated as a member of the Tau chapter of the Kappa Sigma fraternity at the University of Texas at Austin and in 1966, he graduated with a degree in mathematics. In 1996, he was recognized as Kappa Sigma Man of the Year. In 1968, he earned a Master of Business Administration from the Stanford Graduate School of Business.
From 1968 to 1970, Rainwater worked for Goldman Sachs.
In 1970, Sid Bass, a classmate of Rainwater, invited him, then 26 years old, to manage the Bass family investments. From 1970 to July 1986, Rainwater served as the chief investment advisor to the Bass family. He was given $5 million to invest during his first year and managed to lose it all. Rainwater then sought a more methodical investment strategy by studying investors including Warren Buffett, Benjamin Graham, and David Dodd. Rainwater eventually transformed the Bass family fortune from $50 million into $5 billion, amassing $100 million for himself by the time he went on his own in 1986.
Rainwater's first marriage, to his high school sweetheart, Karen, ended in divorce in October 1991, after 25 years. They had three children: Matthew, Todd, and Courtney.
In December 1991, 2 months after his divorce was finalized, Rainwater married financier Darla Moore and moved to Manhattan. At that time, he took a year off. Most of the time, he lived apart from his wife.
In 2009, he was diagnosed with progressive supranuclear palsy, with a few years to live. Rainwater spent over $20 million on research trying to fight the disease. In 2010, he was awarded the Arbuckle Award at Stanford University. In accepting the award, he began to cry, showing the effect of his disease on his emotions. That year, he made his last public appearance. In March 2011, a court declared him incapacitated, and his youngest child, Matthew, became his legal guardian. Rainwater died on September 27, 2015.
By the time he died, Rainwater had donated more than $380 million to organizations working for the benefit of higher education, at-risk children, and research associated with neurodegeneration. He left nearly all of his estate for charitable purposes, primarily through the Rainwater Charitable Foundation. In 2019, the Rainwater Charitable awarded its two first prizes: one for outstanding innovation in neurodegenerative disease research to Dr. Michel Goedert (MRC, Cambridge, UK) and one for innovative early-career scientist to Dr. Patrick Hsu (Univ. California, Berkeley, USA). Rainwater also left $5 million to UT Austin for the study of American music. His will and testament also provided $60 million to his wife, Darla Moore.
Currently, Richard Rainwater is 77 years, 4 months and 8 days old. Richard Rainwater will celebrate 78th birthday on a Wednesday 15th of June 2022. Below we countdown to Richard Rainwater upcoming birthday.