Tracking the performance of complex, constantly changing private investment portfolios, combined with the fluctuating value of land and property, is another. #1272 Catherine Lozick on the 2023 Billionaires - Catherine Lozick inherited an estimated 65% stake in Swagelok, a valve-making business her father, Fred . $$$ Investment group MatlinPatterson lent Thornburg $1.35 billion in 2008, only to abandon its stake last month. Townsend is a former ExxonMobil vice president with a $1.7 million home in Las Campanas; wife Joanna is on the National Council of the Georgia OKeeffe Museum. The feds may already have committed three times that much to bail out private financial institutions deemed too big to fail. Robin Martin "It wasn't all that hard. Knutson and wife Miryam own a $6 million home on Circle Drive. Eddie Gilbert Thornburg Investment Management and Thornburg Securities had paid $115,000 in gross receipts taxes over two prior years. Maria Gale What Thornburg needs now, Chicaferro says, is time. SFR, Online Only: Read SFR's extended interview with Eric Janzen in which the Author of The Post Catastrophe Economy discusses his thoughts on capitalism's boom-bust cycle and the rise and fall of what he calls the "FIRE economy.". All credit ratings became suspect. Net worths were calculated using stock prices and currency exchange rates from the close of business on Wednesday, January 19, 2022. Subprime itself has become a euphemism for "toxic." She joined The Oppenheim Group in February 2015, according to her LinkedIn profile and she works with high net worth clients there . "But I don't know how smart you'd have to be to predict this would've happened." Cyril Ramaphosa. Sarofims daughter Allison reportedly played a centaur in the first Chronicles of Narnia film. Neighbors had thought the land would stay vacant, and feared development would make Tano Road a death trap. She's been with the Oppenheim Group for three years, and it looks like she has done pretty well for herself, considering her net worth is $1 million. "People were getting really pissed off," Collins says. In 2007, the suit says, Thornburg Mortgage employees earned $26.1 million in base compensation, plus $23.1 million in performance bonuses. Dangote Cement produces 45.6 million metric tons annually and has operations in 10 countries across Africa. So SFR doesnt present this list as anything but our best effort to figure out whos got the money in Santa Fe. EEE One case, Slater v. Thornburg, was recently consolidated in federal court. The core values of NDI New Mexico are well matched for the core values of our firm. Peter Oppenheimer Net Worth | Celebrity Net Worth No. Louise Campbell-Tolber* $$$ The mortgage crisis ruined Thornburg's balance sheetsand the country's. Issad Rebrab is the founder and CEO of Cevital, Algerias biggest privately-held company. Nothing ever came of it," Collins says. $$ Born in Ames, Iowa, Russell grew up with a passion for music, performing and the arts. Evidently, he thought his companies, already worth millions, should pay even less. Last summer, Thornburg traveled to Washington, DC and met with Federal Reserve Chairman Ben Bernanke, Treasury Department officials and staff for US Sens. Adenuga, Nigerias second richest man, built his fortune in telecom and oil production. But that near-parity has slipped dramatically in the second half of the year. Motsepe also has a stake in Sanlam, a listed financial services firm, and is the president and owner of the Mamelodi Sundowns Football Club. According to a 2007 New York Times article, the De Domenicos also hoped to sell a property they purchased in Fiji some 40 years ago at the urging of their friend, actor Raymond Burr; the Times called it a network of lush valleys and hills, with its own waterfall, running streams, sunset views and about six kilometers, or four miles, of beach. E/C = East Coast roots 2 spot up from No. There are two Paul De Domenicos in Santa Fe; the son is 47, the father 75. Mayo King It was divisive. Adenuga got an MBA at Pace University in New York, supporting himself as a student by working as a taxi driver. The company denies this. The late William Zeckendorf Sr. was a big real estate developer in New York City. Shes also a past president of the Los Alamos National Laboratory Foundation and a director of Foreign Traders on Galisteo Street. The bank, which trades on the Johannesburg Stock Exchange, targets South Africas emerging middle class. METL is active in textile manufacturing, flour milling, beverages and edible oils in eastern. $$ish Thornburg didn't leave. His lawyers claimed Thornburg Management only truly owed $646, while Thornburg Securities owed zero dollars. NDI-NM is a statewide arts education organization in New Mexico that has introduced thousands of New Mexicos children A resident of New York City, Mrs. Diker is a dancer, mother, philanthropist, author and a graduate of Smith College. In 2019, Naspers put some assets into two publicly-traded companies, entertainment firm MultiChoice Group and Prosus, which contains the Tencent stake. To market those funds, he founded Thornburg Securities. Here's Who Inherited Katharine Hepburn's Money After She Died Jane Fonda William H Miller III He set up his own business in 1988 importing iron, steel and chemicals. Nicky Oppenheimer - Net Worth: $7.3 Billion South Africa's richest man is Nicky Oppenheimer. Patrice Motsepe, the founder and chairman of African Rainbow Minerals, became a billionaire in 2008 the first black African on the Forbes list. "I think Garrett liked Santa Fe very much. $$ish Meanwhile, Thornburg's political allies pushed the project forward. "He came with a very high degree of self-confidence, which was merited," Zarin, who runs an investment firm on Long Island, NY, says. He even once collected unemployment, so perhaps he can relate to his former workers. Brenda Howard* "Rather than just rolling over and playing dead, the administration could've said, 'There's good points on both sides. Katz's predecessor, Dwyer, says the public doesn't care. There were two parts to it. Skilled workers had to be lured. Under the terms, the city owns the campus property and leases it to Thornburg. TEX Even the government doesnt know whos wealthiest. After many years in development, Dangotes fertilizer plant in Nigeria began operations in mid-2021. Masiyiwa also owns just over half of private company Liquid Telecom, which provides fiber optic and satellite services to telecom firms across Africa. In 1997, he bought low-producing gold mine shafts and later turned them profitable. Skilled workers had to be lured. TEX That year, investors including Goldman Sachs paid $3.4 billion for the company Knutson had led since 1969. Former Santa Fe Opera board of directors member Dubin founded the investment firm Dubin Clark & Company, based in tony Greenwich, Conn. Abdulsamad Rabiu is the founder of BUA Group, a Nigerian conglomerate active in cement production, sugar refining and real estate. She graduated Magna Cum Laude with a Bachelors Jennifer has an MFA in Creative Writing, and MA in English from University of New Mexico, and more Marrying art and business, Laurie has worked as an award-winning designer for 25+ years supporting Christine Castrohas more than 25 years of experience leading communications and public Feliciana Warren, Development Associate, a position she has held since August 2019. Jirby filed for divorce in 1986, citing a "conflict of personalities." Cohan explains how Thornburg Mortgage funded its operations "most often by obtaining short-term, often overnight, borrowings" backed by the mortgages it held. Akhannouch was appointed prime minister of Morocco in September 2021. Leslie Carpenter* Gilbert is 86. Mansour Group also has exclusive distribution rights for Caterpillar equipment in Egypt and seven other African countries. Paul Allen AFRICAS BILLIONAIRES ARE RICHER than they have been in years. OTHER His eclectic musical Holly Mead is a composer, pianist, recording artist, educator, and recenttransplant to Santa Fe, Jesus is a Miami born pianist who built his reputation as a proficientclassical & Kevin originally trained to be a pianist but caught the dance bug in high school. He grew up in tiny Lakefield, Minn., where his father was a livestock broker; a 1949 edition of the Lakefield Standard records Thornburg Sheep Co. purchasing a prize lamb for $1.10 a pound. His career began as an education policy analyst. Meaghan Oppenheimer has a net worth of $4 million as of 2022. For over 45 years, his impact has been profound Jamai is Founder and CEO Emeritus of Innovate+Educate, a non-profit she started in 2008 with a vision for an industry-led board focused on education and workforce strategies to address the significant gaps between supply/demand in both education and workforce. He runs OCI, one of the worlds largest nitrogen fertilizer producers, with plants in Texas and Iowa; it trades on the Euronext Amsterdam Exchange. Newspapers called him a genius. Carol Cochran That wasn't the case," Heldmeyer says. The Legislative Finance Committee suggested the true benefit lay elsewhere: "LFC is aware of one company already located in New Mexico, Thornburg Investment Management, which will benefit from the proposed deduction"to the tune of $210,000 annually. At the local level, they fund arts and civic organizationslike the Lensic Performing Arts Center and SITE Santa Fethat make Santa Fe a better place to live, and an arts and culture scene with cachet around the world. Over the three months leading up to March 2008, "Thornburg received margin calls totaling $1.777 billion" and came up $610 million short, Cohan writes"a dismal performance." $ish "What makes it Thornburgesque is its way of doing business, which is both unusual and elegant," Glassman wrote. An open house was advertised in February for that "unique Frank Lloyd Wright style-house [sic] located on a great private setting." Politicians paid respect to a man whose business they may not have understood, except to the extent that it was successful. In early January 2020, Rabiu merged his privately-owned Obu Cement company with listed firm Cement Co. of Northern Nigeria, which he controlled. NM since 1994, except for a five-year detour to Fort Worth Texas where she was the Executive Director. Thornburg Mortgage was founded in 1993 with tax advantages in mind. When people start putting "esque" after your name, you've made it. Steve Tolber*, Visit Our Dance StudiosThe Hiland Theater in Albuquerque & The Dance Barns in Santa Fe, CONTACT USEMPLOYMENTCALENDARFACILITY RENTALSMEDIA ROOMBOARD PORTAL, National Dance Institute of New Mexico is a 501(c)(3) not-for-profit organization and donations are tax-deductible. $$ Tooey Boyden* William D Sanders Thornburg found borrowers over the internet and through "correspondent" lenders around the country. $ In 2007, New Mexico Sen. Shannon Robinson and Rep. Daniel Silvaboth Albuquerque Democrats who lost re-election in 2008introduced bills that created a tax break for finance companies. In their bond application, Thornburg's team noted that he donates $35,000 a year to Partners In Education Foundation, a nonprofit, and more than $100,000 a year to Santa Fe Public Schools. Sandy Seligman, Leslie Nathanson-Juris, Chair Our People - NDI New Mexico Let's see what we can negotiate. And fine mortgage securities made up of our fine mortgages were rated AAA," Thornburg told investors last year. He was the third generation of his family to run DeBeers, and took the company private in 2001. Counting layoffs is one thing. Subsequent to the economic crash, AIG has received a total of $182.5 billion in federal aid, according to the Government Accountability Office. Nigerian cement tycoon Abdulsamad Rabiu is $1.5 billion richer after taking yet another of his companies public, following the listing of BUA Cement in January 2020. What is Jason Oppenheim's net worth? | The US Sun By all accounts, Bear Stearns wasn't interested. In any case, the question might be of hardly an issue. Nicky Oppenheimer Net Worth: 4 Billion - As of April 2012 Source of Wealth: Mining, Diamonds The grandson of the founder of mining behemoth Anglo American, which now owns the world famous De Beers diamond group, Oppenheimer has benefitted from a surge in the company's share price. Biggs, the former chairman, president and CEO of one of the nations largest financial services companies, TIAA-CREF, must be on any list of Santa Fes wealthiest. Brilliance wasn't enough for Thornburg. Leslie Nathanson Juris She co-founded the National Dance Institute of New Mexico in 1994 (NDI-NM) and is past chair. Miles Wolf* He still owns part of the company jet. Among other things, the Waxmans complained that the [outdoor furniture] fabric and fringe delivered were never approved [and] the fabric color did not match the pillows, and there were color samples of the [family room] rug that did not match the family room sofa. When they sued, the Waxmans had already forked over $506,000 in advance payments to the decorators; thats 12 times their annual property tax bill. Supporting NDI New Mexico in our community benefits us all!, Joining our Corporate CouncilSponsoring Our GalaPromoting Giving in Their Business. Mark Zuckerberg. William A Miller A few years later, it endured a wave of prepayments by borrowers. Meet the ultra-rich South Africans you've probably never heard of This week's cover story made use of numerous public documents and SFR writer Corey Pein created numerous spread sheets throughout the course of reporting this story. NDI New Mexico programs positively impact childrens academic achievement, health, quality of life, and self-efficacy through consistent messaging, skill-building, and providing positive role models. Bill Clinton. TEX Koos Bekker is revered for transforming South African newspaper publisher Naspers into an e-commerce investor and cable TV powerhouse. "We were targeted," Santa Fe Councilor Miguel Chavez, who voted against financing the Thornburg campus in 2007, says. Their money comes from the Texas-based Burnett Oil and ranch empire. Oppenheimer Asset Management Review | SmartAsset.com To value privately-held businesses, we start with estimates of revenues or profits and apply prevailing price-to-sale or price-to-earnings ratios for similar public companies. "I get on my knees and bow to her every other day," Chicaferro, who now "lounges" in Scottsdale, Ariz., says. She has a BA in special education an a BS and MS in nursing and has worked in both professions over a span of 40 years. Miller owns Santa Fe Countys ninth-most valuable home, an $8.6 million residence in Tesuque. Dewji, Tanzanias only billionaire, signed the Giving Pledge in 2016, promising to donate at least half his fortune to philanthropic causes. The city then uses the rent money to pay down a $45 million, tax-exempt bond it sold directly to Thornburg at 15 percent interest. Jirby would not discuss the divorce. The . Santa Fe Community Foundation President Billie Blair says her organization confronts, on a daily basis, the disparity of people who wonder where there next meal is coming from and people of high net worth. For years, Blair used to take wealthy donors to field trips on the Southside, to elementary day camps, low-income housing developments and taquerias. Meaghan Oppenheimer - Net Worth 2022, Height, Bio, Family, Career, Wiki He shares a $1.8 million home on Brownell Howland Road with Susan Foote. EIN number 85-0431846. Gov. He is a retired telecommunications executive, having spent most of his career with AT&T and shorter Julie lives in Albuquerque, where she grew up and manages 3 family investment and real estate companies. According to Heldmeyer, city officials feared for the health of the mortgage company even before the deal was struckand kept those fears private. "Thornburg Mortgage wasn't the only company out there that was leveraged," Chicaferro says. "We don't know where the money's going, what the impact is or what the rate of return is." Joe Schepps Over the years, his company, The Opppeneim Group, has closed more than $1 billion in sales over the years and has over $100 million in active listings. The tax-avoidance strategy, foreshadowed by Thornburg's New York bond deals, was transplanted to New Mexico. $$ Deborah Fritz* "That's how these credit bubbles work. Dentist Peppard, 75, owns the Cottonwood Village mobile home park, assessed as the eighth most valuable property in Santa Fe. TEX = Texas roots His father was a shareholder in RMA, a Moroccan insurance company; Benjelloun built it into a leading insurer. All of the continents billionaires are men; Isabel dos Santos of Angola fell off the Forbes list in January 2021. He and his wife Tsitsi founded the Higherlife Foundation, which supports orphaned and poor children in Zimbabwe, South Africa, Burundi and Lesotho. On the other hand, it is yet to be revealed how deep are his wife's pockets. She has been with Ms. DiPaolo Love moved to Santa Fe with her husband, Steve and their daughter, Olivia in 1994 from New York City where she had a successful career as an actress and spokeswoman in TV commercials and voice-overs. He started borrowing and borrowing and borrowing to make more loans and make more income at that spread between 2 and 5 [percent]," Collins says. She graduated from Vassar with a BA in psychology and moved to Washington, DC to begin her career on Capitol Hill. And that he wanted that buildinghe being the governorto be a monument of the potential of Santa Fe to be a financial center," Collins says. Despite the fact that her net worth is public, she has not disclosed her salary or income in the media. From there, he joined the SWAT and Celebration teams where he had opportunities to perform for countless audiences, including main event shows and Brian McGrath recently retired as Senior Vice President Human Resources at American Greetings, a $2 billion business based in Cleveland, with over 20,000 employees in the US and six other countries. "That deal was done to avoid taxes," Lewis Pollack, another Concerned Citizen, says. Vernon Bud O Hamilton After serving 8 months in jail on charges of corruption, Rebrab was released on January 1, 2020. They also bought and sold Ghiradelli Chocolates. $$$ Letters (no more than 200 words) should refer to specic articles in the Reporter. The supposed public benefit of the Thornburg campus? If theres anything people lie about as often as sex, its money. She became active as a community volunteer 10 years ago, and has been engaged in both arts/culture and human service organizations. Aleem Hasham was born and raised in Nairobi, Kenya. $$$ in Dance Summa Cum Laude at The Boston Conservatory at Berklee, Savanna teaches dance fitness classes all around Santa Fe, participated in NDI programs in her Born in Campinas, Brazil, Simone di Pietro began dancing at age of 10. "I would consider both Garrett and Larry Goldstone to be very, very smart guys," Chicaferro says. The House Thornburg Lost | | Santa Fe Reporter Chauna King*, Carol Cochran, ChairDiane Fisher*Peter Frank*, Joelle Mevi, ChairDavid FosterBrian McGrathKatie ThompsonJohn Burnham*Susan Dubin*Lon Erickson*Julia Sze*, Ocean Munds-Dry, ChairPaul CassidyDiane DonigerDavid VogelJulie Bowdich, Kate Moss, ChairJohn BerndtJamai BlivinDavid FosterJesse MartinezDavid VogelElena Tercero*Helen Wertheim*, Peggy Hubbard, Chair Last month, Richardson named Thornburg to a commission to save the bankrupt College of Santa Fe. Next to that nonprofit fortune, Lannans $729,000 home on Camino Militar looks relatively modest. He has 42 years of experience in the public finance field focusing exclusively on municipal debt issuance and public finance. Net worth: $8.7 billion Rank in 2021: 3 Net worth in 2021: $8 billion Origin of wealth: Diamonds Industry: Metals and mining Age: 76 Country: South Africa Residence: Johannesburg. "Terrible mortgage securities made up of junk were rated AAA. The house was off Old Pecos Trail, at 512 Camino Lejo. Now, she's focused on "pulling together the community." Thornburg funded Chavez' Council opponents in the 2004 and 2008 elections. He expected to becomeand he dida big fish in a small pond. The Academy-award nominated and Golden Globe-winning actress (Love Story) has lived in Santa Fe since 1994, and is well-known for her approachability and generosity to numerous Santa Fe causes, including animals and the arts. Times may be tough for the newspaper industry, but The Santa Fe New Mexican owner still has the family ranch. Local son/property developer Jeff Branch, who also serves as a board member for the Santa Fe Community Foundation, is well known for his transformation of Santa Fes Southside. Help keep local journalism fighting for you. The strategy saved tons on storefronts and salespeople. Catherine Oppenheimer Not Thornburg. Before spring break, flight records show it flew to Provo in the Caribbean, several islands east of where his parents married. Heather is worth $3 million, according to CelebrityNetWorth.com. He wasn't alone. The [Albuquerque] Journal asked a few questions. Shares of Econet Wireless Zimbabwe, which he founded, rose more than 750% in the past year, helping to drive up the size of his fortune. And he can borrow money at 2. The company is best known for the brands Cartier and Montblanc. Thornburg declined an interview. (Forbes discounts the values of stakes when the public float is less than 5%.). He served as chairman of the board of Capitec from 2007 to 2016 and has continued on as a board member. When a big fish flops, the ripples go far. She served as Chair, Trustee and Governor of The Childrens Miracle Hospitals Board (Salt Lake City, Utah) which is a Foundation that raises Diane Fisher served as Senior Vice President and General Counsel for Presbyterian Healthcare Services. Ken DeBettignies* The suit also faults executives' pay plan. Its unclear whether he owns property here. $ World's 12 Wealthiest People Got $36 Billion Richer in a Single Day Although Meaghan wasn't in pageants herself, she definitely had friends that competed, and she knew a lot about this world. Salary in 2023. His mobile phone network, Globacom, is the third largest operator in Nigeria, with 55 million subscribers. We also welcome you to follow SFR on social media (on Facebook, Instagram and Twitter) and comment there. Val Diker Sunday Times Rich List 2012 - UK's Richest People | TheRichest His Thornburg Charitable Foundation has assets of $23 million (and pays $100,000 a year to Executive Director Suzanne Barker Kalangis, wife of Thornburg Mortgage Director Ike Kalangis). The process took years and involved thousands of Americans who couldn't afford their home loan payments. Joe Farr* His brother Nassef is also a billionaire. New Mexico? Then the ground moved. EEE Alexis Girard In 1998, he hired Ron Chicaferro, then working for another REIT, to lead Thornburg Home Loans. Ms. Fisher provided a broad spectrum of legal services for Presbyterians statewide healthcare delivery system, Presbyterian Health Plan, and the organizations Kelcy Flanagan is the President & CEO of the New Mexico Society of CPAs. Its been generations since the value of a dollar was in such doubt, with the US government planning to run a deficit over the next decade of $9,000,000,000,000thats a record $9 trillionenough to buy every adult Santa Fean a new F-22 fighter jet or a large stake in a uranium mine. $$ $ish "Garrett is the smartest man I've ever met. Do I need a passport?'" In early January 2022, Rabiu listed his sugar and food firm BUA Foods on the Nigerian stock exchange with a market capitalization of nearly $2.8 billion. Money is a slippery thing, especially now. Paramount's Bob Marley Biopic First Look Leaves CinemaCon Jammin' Catherine Oppenheimer co-founded the National Dance Institute of New Mexico in 1994 (NDI-NM) and the New Mexico School for the Arts (NMSA) in 2010. . EEE The wealthy have felt the contraction, too: Yesterdays billionaires are todayshundred millionaires. Catherine Oppenheimer As of 2021, he has an estimated net worth of $50million, according to Celebrity Net Worth. In the accepted version of events, Thornburg was a victim. Two days later, the company laid off 130 of 150 employees. Ellis is certainly a millionaire with his fortune from acting estimated at around $6million. Ocean Munds-Dry is Managing Counsel for ConocoPhillips where she advises the company on New Mexico legal and regulatory matters. But not for a landscape painter. We have estimated Katherine Oppenheimer's net worth , money, salary, income, and assets. Jumping into the No. EEE Required fields are marked *. Redwood Trust lost $444 million last year, but remains in business. Home base unknown "Thornburg is often referred to as one of the good guys that's having trouble. EEE = More local than not Biggs also was a director of aerospace giants Boeing and McDonnell-Douglas and, in the years preceding the Great Recession, of JPMorgan Chase bank. Net Worth in 2023. The site described it as 12,000 square feet of luxury designed with Anasazi and Pueblo influences, featuring floors of imported tile, stone, and cherry wood[and] fine details such as custom iron and glass work, hand crafted, hand adzed custom built doors, fine millwork, and nine uniquely designed fireplaces. The asking price is $8.2 million. We are all one community, Blair says. Get this delivered to your inbox, and more info about about our products and services. However, according to Thornburg's possibly lowballed estimate, the state, the county and the schools are out $368,000 a year. He owns at least 720 square miles of conservation land across South Africa, Botswana and Zimbabwe. Cormac McCarthy $$$ Mr. Paul Cassidy recently retired as Managing Director, U.S. Municipal Finance, New Mexico Region with RBC Capital Markets after 24 years. As a group, the continents 18 billionaires are worth an estimated $84.9 billion a 15% increase from 12 months ago and the largest tally since at least 2015. The New Mexican said residents "should be glad the company didn't grow weary of NIMBYism and forsake Santa Fe for Santa Barbara or some other la-di-dah address," in an editorial against Concerned Citizens. Jess Sanchez, Co-Chair* Their family invented Rice-A-Roni. EEE Albuquerque Business First Non-Profit of the Year Award, 2015, 2020, Best of Santa Fe Reporter, 2017, 2018, 2019, 2020, Four-star rating four years in a row! $$ish Get the best of Forbes Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Instead, he tried to make New Mexico work for him. Thornburg's 29-year-old son has his own small plane. In 2019 . In Israel, her family flipped houses and invested in properties. Wealth also gets harder to measure as it grows. Dewji was reportedly kidnapped at gunpoint in Dar es Salaam, Tanzania in October 2018 and released after nine days. In the 1980s, Albin worked in the oil and gas division of monster investment bank Goldman Sachs. Kingsley Ben-Adir ("High Fidelity") stars in "Bob Marley: One Love," the musical film produced by the reggae legend's son Ziggy Marley. In 2003, a large landowner, Santa Fe Estates, announced plans to sell hilltop property to Thornburg.
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