Jackson T. Stephens
Encyclopedia
Jackson Thomas Stephens was the founder of Little Rock, Arkansas
-based Stephens Group, a diversified family of investment and media companies.
, the youngest of 6 children. and grew up during the Depression. Stephens attended the United States Naval Academy
, where he met and became friends with a midshipman from Georgia named Jimmy Carter
. Upon graduating he joined the Little Rock investment house Stephens Inc., which his brother W. R. "Witt" Stephens had started in 1933. Forged out of a bible, belt buckle, and bond business, by 1994 Stephens Inc. was listed as one of the biggest institutional shareholders in 30 large multinationals including the Arkansas based firms Tyson Foods
, Wal-Mart
and Alltel
that the early 1980s they were known as "Mr. and Mrs. Republican of Arkansas." In a rare interview in the early 80's, Jackson declared that Reagan was giving the country "exactly what we need. Some of us call it tough love." Stephens and his company donated $100,000 to the national Republican Party both in 1988 and 1991.
Little Rock, Arkansas
Little Rock is the capital and the largest city of the U.S. state of Arkansas. The Metropolitan Statistical Area had a population of 699,757 people in the 2010 census...
-based Stephens Group, a diversified family of investment and media companies.
Background
Stephens was born on a farm near Prattsville, ArkansasPrattsville, Arkansas
Prattsville is a town in Grant County, Arkansas, United States. The population was 305 at the 2010 census. It is part of the Little Rock–North Little Rock–Conway Metropolitan Statistical Area.-Geography:...
, the youngest of 6 children. and grew up during the Depression. Stephens attended the United States Naval Academy
United States Naval Academy
The United States Naval Academy is a four-year coeducational federal service academy located in Annapolis, Maryland, United States...
, where he met and became friends with a midshipman from Georgia named Jimmy Carter
Jimmy Carter
James Earl "Jimmy" Carter, Jr. is an American politician who served as the 39th President of the United States and was the recipient of the 2002 Nobel Peace Prize, the only U.S. President to have received the Prize after leaving office...
. Upon graduating he joined the Little Rock investment house Stephens Inc., which his brother W. R. "Witt" Stephens had started in 1933. Forged out of a bible, belt buckle, and bond business, by 1994 Stephens Inc. was listed as one of the biggest institutional shareholders in 30 large multinationals including the Arkansas based firms Tyson Foods
Tyson Foods
Tyson Foods, Inc. is a multinational corporation based in Springdale, Arkansas, that operates in the food industry. The company is the world's second largest processor and marketer of chicken, beef, and pork only behind Brazilian JBS S.A., and annually exports the largest percentage of beef out of...
, Wal-Mart
Wal-Mart
Wal-Mart Stores, Inc. , branded as Walmart since 2008 and Wal-Mart before then, is an American public multinational corporation that runs chains of large discount department stores and warehouse stores. The company is the world's 18th largest public corporation, according to the Forbes Global 2000...
and Alltel
Alltel
Alltel Corporation is a wireless service provider, primarily based in the United States. Before an acquisition by Verizon Wireless, it served 34 states. After the merger, Alltel continues to serve six states, mostly in rural areas...
Career highlights
- 1962 – became a member of the Augusta National Golf ClubAugusta National Golf ClubAugusta National Golf Club, located in Augusta, Georgia, is a famous men's golf club. Founded by Bobby Jones and Clifford Roberts and designed by Alister MacKenzie on the site of a former indigo plantation, the club opened for play in January 1933. Since 1934, it has played host to the annual...
, the host of the annual Masters tournament. Later became the club's chairman from 1991-98. - 1968 – the Stephenses launch Systematics, IncSystematics, IncSystematics Incorporated was a data processing company acquired in 1968 by Arkansas superinvestor Jackson T. Stephens. In 1990 it was sold to Alltel Corporation, and today is a part of Fidelity Information Systems....
, a data processing company. In 1990, Systematics was sold to Alltel and became Alltel Information Services (which in turn would be sold to Fidelity Information Systems.) - 1970 – underwrote the initial public offering for Wal-Mart StoresWal-MartWal-Mart Stores, Inc. , branded as Walmart since 2008 and Wal-Mart before then, is an American public multinational corporation that runs chains of large discount department stores and warehouse stores. The company is the world's 18th largest public corporation, according to the Forbes Global 2000...
- 1976 – forms Stephens Finance Ltd. in Hong Kong with Mochtar RiadyMochtar RiadyMochtar Riady is an ethnic Chinese financial magnate in Southeast Asia. He is the founder and CEO of Lippo Group. He is also the chairman of the Asian Bankers Association. Born on 12 May 1929, in Malang, East Java, Mochtar is known to have a cold hand at transforming the fortunes of financial...
.
Politics
Stephens and his wife Mary Anne were such outspoken backers of Republican causes, and in particular of President Ronald ReaganRonald Reagan
Ronald Wilson Reagan was the 40th President of the United States , the 33rd Governor of California and, prior to that, a radio, film and television actor....
that the early 1980s they were known as "Mr. and Mrs. Republican of Arkansas." In a rare interview in the early 80's, Jackson declared that Reagan was giving the country "exactly what we need. Some of us call it tough love." Stephens and his company donated $100,000 to the national Republican Party both in 1988 and 1991.
Philanthropy and legacy
- Stephens gave $48 million to the University of Arkansas for Medical SciencesUniversity of Arkansas for Medical SciencesThe University of Arkansas for Medical Sciences is part of the University of Arkansas System, a state-run university in the U.S. state of Arkansas...
to establish the Jackson T. Stephens Spine and Neurosciences Institute. - Stephens gave over $30 million dollars to contribute to the Episcopal Collegiate SchoolEpiscopal Collegiate SchoolEpiscopal Collegiate School is a small private school located in Little Rock, Arkansas established in 1998 under the name "The Cathedral School". In July 2003, it changed its name to Episcopal Collegiate School. It has a total student body of approximately 385 students and an average class size of...
endowment in 2004 - Stephens gave $20.4 million to the University of Arkansas at Little Rock for a special-events center and a basketball arena that would later be named Jack Stephens CenterJack Stephens CenterJack Stephens Center is a 5,600-seat multi-purpose arena in Little Rock, Arkansas and was built in 2005. It is home to the University of Arkansas at Little Rock Trojans basketball team, and named in honor of billionaire philanthropist Jackson T. Stephens....
. - The football field at the United States Naval Academy is named Jack Stephens Field to honor Stephens and his gift of funds for its renovation.
- Dickey-Stephens Park (home to AA Arkansas Travelers) in North Little Rock, Arkansas is named for Stephens and his brother "Witt" along with the Dickey brothers - Bill and "Skeeter" both former major leaguers.
- Stephens gave around $3 million to construct the Prattsville Community in his hometown of Prattsville, ArkansasPrattsville, ArkansasPrattsville is a town in Grant County, Arkansas, United States. The population was 305 at the 2010 census. It is part of the Little Rock–North Little Rock–Conway Metropolitan Statistical Area.-Geography:...
.