Harold Simmons, an American businessman and philanthropist, has made a significant impact on the business world and society as a whole. With an estimated net worth of a billion in 2023, he is considered one of the richest people in Texas.
This article will delve into Harold Simmons net worth, career, and personal achievements, shedding light on why he is widely recognized and respected.
|Full Name||Harold Clark Simmons|
|Popular Name||Harold Simmons|
|Birth Date||May 13, 1931 -December 29, 2013|
|Parents||Reuben Leon and Fairess Clark Simmons|
|Birth Place||Golden, Wood County, Texas|
Bachelor’s degree in economics from the University of Texas at Austin (1951), Master’s degree in economics from the University of Texas at Austin (1952)
|Sexual Orientation||Not Known|
|Wife/Spouse||First wife: Normagene Fairchild (divorced)|
Second wife: Sandra K. Saliba (divorced)
Third wife: Annette Caldwell Fleck
|Net Worth||$9 billion (as of 2023)|
|Source of Wealth||Successful business ventures and investments in various industries|
What is Harold Simmons Net Worth and Salary in 2023?
As of 2023, Harold Simmons’ net worth is estimated to be $9 billion, making him one of the wealthiest individuals in Texas. His vast fortune stems from his successful business ventures and investments in various industries.
Why is Harold Simmons Famous?
Harold Simmons gained fame and recognition for his exceptional business acumen and innovative investment strategies. He is known for developing the leveraged buyout (LBO) concept, which revolutionized the acquisition of corporations.
Through his company Contran Corporation, he consolidated his holdings and built a conglomerate that includes Valhi, Inc., NL Industries, Titanium Metals Corporation, CompX International, and Kronos Worldwide.
Harold Simmons Overview
Born on May 13, 1931, in Golden, Wood County, Texas, Harold Simmons was raised by his Baptist parents, Reuben Leon and Fairess Clark Simmons.
He displayed a keen interest in academics from a young age and went on to earn a Bachelor’s degree (1951) and a Master’s degree (1952) in economics from the University of Texas at Austin.
Career and Awards
Harold Clark Simmons was a renowned American businessman, investor, and philanthropist. His career began as an investigator for the U.S. Civil Service Commission, but he soon made his mark in the banking sector. His expertise in banking led him to develop the acquisition concept known as the leveraged buyout (LBO), which he used to acquire various corporations.
Simmons’ entrepreneurial journey took off in 1960 when he bought a small drugstore, University Pharmacy, with $5,000 of his savings and a $95,000 loan.
He transformed this single store into a chain of 100 stores, which he sold for more than $50 million to Eckerd Corporation in 1973. This sale marked the beginning of his career as an investor, particularly in the financial services industry.
His business ventures were not limited to the pharmaceutical industry. Simmons was also the owner of Contran Corporation and Valhi, Inc., a multinational company with operations in the chemicals, component products, waste management, titanium metals industries, and more.
As of 2006, he controlled five public companies traded on the New York Stock Exchange.
Throughout his career, Simmons received several awards, including the Strauss Humanitarian Award, the Champ Award by The Dallas County Medical Society Alliance, the Dallas Distinguished Community Service Award, and recognition from the United Way.
His contributions to society extended beyond his business ventures, as he was also a significant contributor to the Dallas Civic Opera in 1973.
In recent news, the Simmons family, who inherited Harold’s wealth, is ranked 52nd on the list of wealthiest families, with a net worth of $5.2 billion. The family continues to control Contran Corporation, furthering Harold’s legacy. Despite his passing in 2013, Harold Simmons’ influence remains prominent in the business world.
Harold Simmons’ life and career serve as an inspiration for many aspiring entrepreneurs. His ability to transform a small drugstore into a multi-billion dollar empire is a testament to his business acumen and strategic thinking.
His philanthropic efforts also demonstrate his commitment to giving back to the community, making him a well-rounded and respected figure in the business world.
Simmons has been married three times:
His first, Normagene Fairchild, left him in 1959, leaving him with custody of their two daughters: Lisa Simmons Epstein, Scheryle Simmons Patigian
Sandra K. Saliba was his second wife. Sandra went on to become the first female pilot for Braniff Airlines. In 1980, they divorced. They have two kids: Andrea Leigh Simmons Swanson, Serena Sha Simmons Connelly
In June 1980, he married his third and last wife, Annette Caldwell Fleck (born 1936), an interior designer with two children from a previous marriage.
As of now, there is no information available about Harold Simmons’s social media accounts.
FAQs about Harold Simmons
What is Harold Simmons known for?
Harold Simmons is known for his innovative investment strategies, particularly the leveraged buyout (LBO) concept. He also made significant contributions to philanthropy, especially in the field of cancer research.
Was Harold Simmons involved in philanthropy?
Yes, Harold Simmons was involved in philanthropy. He donated substantial amounts of money to various causes, including education, medical research, and political campaigns.
What is Harold Simmons’ connection to the waste management industry?
One of Simmons’ notable ventures was his involvement in the waste management industry. He owned Waste Control Specialists LLC, which was involved in the disposal of low-level radioactive waste.
Harold Simmons’ remarkable journey from a small-town businessman to one of the wealthiest individuals in Texas is a testament to his entrepreneurial spirit and visionary mindset. Through his successful investments and philanthropic endeavors, he has left an indelible mark on the business world and society as a whole. Harold Simmons will be remembered as a brilliant financier, a generous philanthropist, and a true Texas legend. Thank you for reading.
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