Philip Anschutz, a multimillionaire American businessman, was born on December 28, 1939. He owns or has control over businesses in a number of sectors, including energy, railways, real estate, sports, newspapers, movies, theatres, arenas, and music. He bought the parent firm of the Journal Newspapers in 2004, and under his leadership, Washington Examiner, an American conservative editorial daily, was created.
Anschutz is the son of Marian Pfister Anschutz and Fred Anschutz. He acquired Circle A Drilling, his father’s oil drilling business, in 1961 and made a fortune in Wyoming. He made investments in railways, real estate, and stocks. Along with many other soccer teams, he also co-founded Major League Soccer, an American association football/soccer league, as well as the Los Angeles Galaxy, Chicago Fire, Colorado Rapids, Houston Dynamo, San Jose Earthquakes, and the New York/New Jersey MetroStars.
Anschutz is the primary owner of the Los Angeles Kings of the National Hockey League and a small shareholder of the Los Angeles Lakers of the National Basketball Association. Additionally, he has ownership interests in other entertainment facilities, such as the Staples Center, The O2, and the Dignity Health Sports Park.
He has made investments in movies including Ray, Joshua, and The Chronicles of Narnia through Walden Media, which he owns. He owns The Broadmoor in Colorado, Sea Island Resorts, and the Coachella Valley Music and Arts Festival through AEG Live. Additionally, he serves as the inspiration for CU Anschutz, the University of Colorado’s medical campus.
Philip Anschutz Bio/Wiki
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Early life and Education
The son of Marian (née Pfister) and Frederick Benjamin Anschutz, Anschutz was born in Russell, Kansas. His father was a property developer and oil magnate who bought ranches in Wyoming, Utah, and Colorado before getting into the oil drilling industry. His great-grandfather, Carl Anschutz, was of German descent and founded the Farmers State Bank in Russell after leaving Russia.
Both Anschutz and Bob Dole were raised in Russell. In Kansas, he also resided in Hays and Wichita. Anschutz then gave money to Dole’s political efforts. In addition to earning a bachelor’s degree in business from the University of Kansas in 1961 as a member of the Sigma Chi Fraternity, Anschutz graduated from Wichita High School East in 1957.
Philip Anschutz Personal life and Family
Anschutz likes to avoid the spotlight. He is an evangelical conservative Christian and a member of the Evangelical Presbyterian Church. He married Nancy when he was 16 and they had three children together. Anschutz was admitted to both the Kansas and American Business Halls of Fame in 2000 and 2002, respectively.
Only three formal interviews with Anschutz have been permitted since 1979, and none from the 1980s until 2015. He ended his media blackout on December 6, 2015, when he made an appearance alongside a number of Major League Soccer founders to commemorate the league’s 20th anniversary. Having completed 15 marathons, Anschutz. Wendall Anschutz, a seasoned news anchor and fellow native of Russell, was his first cousin.
Ownership Of Land
For $10 million, Anschutz acquired the 250,000-acre (1,000 km2) Baughman Farms in Liberal, Kansas, one of the biggest farming conglomerates in the nation. He bought 9 million acres (36,000 km2) along the Utah-Wyoming boundary the next year. His first oil industry riches resulted from this.
Since Prudhoe Bay in Alaska in 1968, the Anschutz Ranch’s billion-barrel (160,000,000 m3) oil pocket has been the greatest oil field find in the United States. This was discovered in the early 1980s. Mobil Oil purchased a stake in it from Anschutz in 1982 for $500 million. Anschutz was Colorado’s only billionaire for a while.
He became one of the top 100 landowners in the country after purchasing property in other Western states. Prior to entering the entertainment sector, Anschutz first worked in the railroad and telecommunications industries.
As both men “made it rich in a fundamentally different way: they operated across an incredible diversity of sectors, conquering and remaking entire economic landscapes,” Fortune magazine likened him to the 19th-century billionaire J.P. Morgan in 1999.
Petroleum and Railroad Industries
By acquiring Rio Grande Industries, the holding company for the Rio Grande Railroad, Anschutz joined the railroad industry in 1984. Under his leadership, the Rio Grande Railroad acquired the Southern Pacific Railroad in 1988. Anschutz was appointed vice-chairman of Union Pacific following the merger of the Southern Pacific and Union Pacific Corporation in September 1996.
He served as a Southern Pacific director from June 1988 to September 1996 before the merger and as non-executive chairman from 1993 to 1996. Beginning in 1995, he served as a director of Forest Oil Corporation. He was appointed Director and Chairman of the Board of Qwest in November 1993.
In 2002, he resigned as non-executive co-chairman, but he remained on the board. Along with serving on the boards of the American Petroleum Institute and the National Petroleum Council in Washington, D.C., he has also served as a director for Pacific Energy Partners. When Native American tribes attempted to protect ancient rock carvings in Weatherman Draw in south-central Montana, the Bush administration backed Anschutz’s right to develop an exploratory oil well there in May 2001.
Ten Native American tribes, environmental organisations, and preservationists unsuccessfully challenged the verdict. The Anschutz Exploration Corporation abandoned its ambitions to drill for oil in the region in April 2002 The Bureau of Land Management stated that it had no plans to permit further leases there and would consider formally withdrawing the 4,268-acre (17 km2) site from mineral leasing in its 2004 management plan.
They donated their oil and gas leases to the National Trust for Historic Preservation, which has promised to let the leases expire. The Anschutz Exploration Corporation received The National Trust for Historic Preservation’s President’s Award in appreciation of its preservation work.
After launching a legal case accusing Anschutz of collecting IPO shares from Salomon Smith Barney in return for Qwest’s investment banking business, New York Attorney General Eliot Spitzer and Anschutz came to an agreement in May 2003. Anschutz refused to admit guilt but offered to contribute a total of $4.4 million to resolve the dispute if he could choose the recipients beforehand.
Anschutz gave $200,000 to each of the six law schools, as well as $100,000 to each of the 32 nonprofit charitable organisations in New York. Spitzer relinquished his civil lawsuit in exchange. He really received no punishment because the payment was comparable to the profit he made from the IPO “spinning” activity.
A Wall Street Journal editorial titled “The Anschutz Ransom” criticised Spitzer’s lawsuit. After conducting a thorough investigation of Qwest officials, the U.S. Securities and Exchange Commission and the U.S. Department of Justice found no cause for action against any board members.
In the words of The Denver Post, “Qwest founder and board member Philip Anschutz not only is not a defendant in the long-awaited legal action against the regime of former Qwest chief executive Joe Nacchio, but he also doesn’t even earn a mention in the 50-page complaint.”
The Denver Rocky Mountain News announced in February 2006 that Anschutz will step down from the Regal Entertainment Group board and would not seek reelection to the boards of Qwest or Union Pacific in order to concentrate on his other interests. Anschutz would acquire Xanterra Parks and Resorts, which had acquired the Grand Canyon Railway in 2007, according to a June 24, 2008 announcement.
The Broadmoor, the Manitou and Pike’s Peak Railway, and the Oklahoma Publishing Company, located in Colorado Springs and Manitou Springs, respectively, were all acquired by Anschutz in 2011, according to a report. As of August 1, 2010, Kingsmill Resort was acquired and put under the administration of Xanterra Parks and Resorts. The resort was bought by Xanterra from Busch Properties, Inc. (BPI).
Anschutz Entertainment Group, Inc.
The Anschutz Entertainment Group (AEG) is a division of The Anschutz Corporation and a presenter of athletic events and musical entertainment. It is the biggest owner of sports teams, sporting occasions, and sporting venues around the entire globe. It also owns entertainment venues and, through AEG Live, is the second-largest producer of live entertainment events in the world, after Live Nation.
It is the owner of the Coachella Valley Music and Arts Festival through AEG Live. Anschutz declared on September 18, 2012, that he was going to put AEG up for sale. However, he opted not to accept any of the offers, and on March 14, 2013, he decided to take AEG off the market.
Anschutz was ranked sixth among the “50 Most Influential People in Sports Business” in 2012, according to SportsBusiness Journal’s annual survey.
Anschutz is one of only four individuals to receive the Medal of Honor from the National Soccer Hall of Fame for his contributions to the development of soccer in the United States. Anschutz was named by SportsBusiness Journal as the American soccer player with the greatest sway in 2006.
Anschutz was one of the league’s original owners and controlled the Los Angeles Galaxy, Chicago Fire, Colorado Rapids, Houston Dynamo, San Jose Earthquakes, D.C. United, and New York/New Jersey MetroStars at various points in time. He has stock in Dignity Health Sports Park, home of LA Galaxy of Major League Soccer and previous MLS team Chivas USA.
Anschutz had six MLS clubs under his control at the same time for a moment, during which time he suffered huge financial losses. Anschutz has earned the moniker “the guy who saved MLS” as a result of this. According to MLS Commissioner Don Garber, “without Phil Anschutz, there would be no MLS today.”
Anschutz had a key role in a number of MLS initiatives that increased the league’s income and profitability. For instance, he advocated for the construction of stadiums designed specifically for soccer, enabling MLS teams to generate income and better manage expenditures.
Soccer United Marketing, the league’s sales and marketing division was also supported by Anschutz. He no longer owns anything other than the Galaxy after selling his shares in the Chicago, Denver, Houston, New York, San Jose, and D.C. MLS teams.
Anschutz is a minority shareholder in the Los Angeles Lakers and the Los Angeles Kings. He has ownership interests in stadiums including Crypto.com Arena and O2 Arena through ASM Global (previously AEG).
Various Business Endeavours
Anschutz has also been involved with a number of other businesses, such as Forest Oil, Pacific Energy Group, Union Pacific Railroad, in which he holds the largest interest (6%) and the Regal Entertainment Group, the second-largest chain of movie theatres in the world with almost 7,000 screens.
Anschutz controls more than half of the business as well as other publications and media conglomerates. Anschutz has invested in companies like the Denver-based Clarity Media Group, which publishes The Oklahoman, the largest newspaper in Oklahoma; The San Francisco Examiner (bought in 2004, sold in November 2011); The Washington Examiner, a right-wing weekly tabloid that was consolidated from a group of D.C.-area suburban dailies; The Baltimore Examiner, which debuted in April 2006 and was shut down in early 2009; and the now-defunct Examiner (purchased on November 30, 2012) (In more than 60 places, Anschutz has registered the name “Examiner” as a trademark.)
Anschultz closed down The Weekly Standard on December 14 and terminated every employee. After a venture capital firm committed to facilitating any future purchase, Editor in Chief Stephen Hayes had been given the go-ahead to locate a buyer, but Anschutz withdrew his approval and chose to essentially put an end to the company in order to harvest its subscribers.
Anschutz made investments in NRC Broadcasting, a firm that operates a number of radio stations in Colorado, as well as the Oil & Gas Asset Clearinghouse, an auction house created specifically for the oil and gas industry. In February 2008, LightEdge Solutions was also bought by the Anschutz Investment Company.
With an emphasis on Wide-Area Networking, Voice-over-IP, Hosted Microsoft programmes (Exchange, OCS, SharePoint), Hosted Servers/Storage Collocation Cages and Rackspace, and Business Continuity Services, LightEdge is a business-to-business supplier of hosted services. Anschutz would buy all of the Oklahoma Publishing Company’s (OPUBCO) assets from the Gaylord and Dickinson families, it was announced on September 15, 2011.
Upon closure, Anschutz would run OPUBCO as a distinct business from his other publishing and media holdings. It was planned to close in October 2011.
Anschutz was reportedly interested in purchasing the Rangers in March 2012. Additionally, he contributed to the formation of the Power Company of Wyoming LLC, which was re-incorporated in 2010 with the goal of constructing the Chokecherry and Sierra Madre wind power complex in Carbon County, Wyoming, which will have up to 1,000 wind turbines with a combined capacity of 3,000 megawatts It will be situated on 229,077 acres, roughly half of which will be federal, half of which will be privately held by an affiliate, and a small portion by state holdings.
Chokecherry and the Sierra Madre are two separate sites that are both being examined concurrently, according to the Bureau of Land Management, which on July 2, 2012, announced the completion of the project’s final Environmental Impact Statement. These sites are both around five miles apart.
They make up the largest commercial wind power plant proposed in the United States and are among the largest in the world when combined. Construction is anticipated to begin in 2013 and be between $4 billion and $6 billion in cost.
Anschutz is a well-known philanthropist and one of the wealthiest persons in the world. With a net worth of $11.5 billion, he is the president of the Anschutz Foundation and was ranked number 41 on the Forbes 400 list in October 2019.
Anschutz and his wife made over $100 million in donations to the University of Colorado School of Medicine’s new medical, dental, nursing, and pharmacy campus in Aurora, Colorado, which is now known as the Anschutz Medical Campus in their honour The site was taken from the recently shut down Fitzsimons Army Medical Center, but it required millions to create a new University Hospital and new medical laboratory facilities on it.
They also gave to their alma mater, the University of Kansas. Both the Anschutz Sports Pavilion and the Anschutz Library are present. The Anschutzes were awarded the 2009 William E. Simon Prize for Philanthropic Leadership in appreciation of their charitable work.
Anschutz backed the Parents Television Council, a nonprofit that opposes pornographic television programming. Through his two film production companies and ownership of a significant portion of the Regal, Edwards, and United Artists theatre chains, he also supported and distributed films with Christian themes for broad audiences, including Amazing Grace and The Chronicles of Narnia: The Lion, the Witch, and the Wardrobe.
The Foundation for a Better Life was funded by him. Anschutz acquired The Weekly Standard from News Corporation, a division of Rupert Murdoch’s News Corporation, in 2009. He provided funding for the pro-charter school movie Waiting for Superman in 2010. He provided funding for the pro-parent trigger movie Won’t Back Down in 2012.
Anschutz has contributed to conservative causes and organisations that oppose abortion and the LGBT community. Additionally, he generously supports conservative think tanks including the American Enterprise Institute, Federalist Society, and Heritage Foundation. In the 2016 American elections, Anschutz gave conservatives $1 million, and in the 2017 elections, he gave Republican candidates and political action organisations $200,000 each.
After the Denver Post reported that Neil Gorsuch was not actively being considered for the opening on the U.S. Court of Appeals for the Tenth Circuit, an attorney for Anschutz wrote a letter to Harriet Miers, the White House Counsel under President George W. Bush, recommending Gorsuch for the position.
Philip Anschutz Net Worth
His current net worth as of 2023 is $13.3 Billion. Through the privately owned Anschutz Corp., Anschutz is in control of much of his wealth. The Anschutz Entertainment Group is the most valued of the several companies owned by the Denver-based company.
According to its website, AEG and its subsidiary ASM Global host more professional sports franchises in facilities they own than any other corporation in the world. Data gathered by Bloomberg from the cruise industry’s hotel occupancy and passenger yield data are used to appraise his premium cruise line Windstar Cruises.
Its enterprise value-to-sales ratio is compared to that of four publicly traded rivals and then modified to account for the decline in those peers’ values since the start of the Covid-19 epidemic. Anschutz has built up a portfolio of cash and tightly held assets over many years by selling off various assets.
Since 1995, these sales have included the acquisition of a majority stake in the Regal Entertainment Group, the sale of more than $4 billion worth of Qwest Communications stock, the sale of about $3 billion worth of energy assets, and the sale of real estate and sports franchises worth hundreds of millions of dollars.
He acquired and invested at least $4 billion worth of assets during that time, including the Los Angeles Kings, the real estate and media firm Opubco, and theatre properties. Anschutz Entertainment Group media spokespeople did not reply to calls for comment on Bloomberg’s valuation. [table id=3997 /]