Robert Rowling
Encyclopedia
Robert B. Rowling is the founder of TRT Holdings
, the holding company
of Omni Hotels and Gold's Gym
.
, Rowling has an undergraduate degree from the University of Texas at Austin
and a law degree from Southern Methodist University
.
In 1972, Rowling began working for Tana Oil and Gas, which was owned by his father, Reese Rowling, and William Colson. In 1989 Texaco
acquired Tana for $476 million, thereby providing money that was used to form TRT Holdings. Five years later, TRT Holdings sold Corpus Christi National Bank for $131 million. TRT Holdings would later purchase Omni Hotels for $500 million and Gold's Gym
for $180 million. In August 2010, Rowling made the winning bid to acquire the bankrupt Amelia Island Plantation
Resort for $67.1 Million.
Rowling served as a regent to the University of Texas System
until February 6, 2009 when he resigned over a controversy regarding bonuses paid to the UTIMCO investment staff. Governor Rick Perry
and Texas state senators had sought to go back on compensation agreements with the staff. Unwilling to break the contracts and disgusted by their grandstanding, Rowling quit during a Texas Senate Finance Committee meeting and followed it up a day later with a formal letter of resignation
As of September 2011, he is worth US$4.7 billion. He is the 66th richest person in the United States. He is married, with two children. He lives in Dallas, Texas
.
and a major donor to the party. He is also one of four billionaire backers of the conservative political action group American Crossroads
. According to an article published in Forbes
magazine, "Rowling is facing a rebellion at his fitness chain Gold’s Gym after his $2 million donation to Karl Rove’s conservative group sparked protest from gay rights advocates". Rowling gave a $2 million gift to Karl Rove’s "conservative PAC American Crossroads, which has given money to candidates with anti-gay views.". He gave more than $2 million as a private donation completely independent from his company, TRT Holdings. TRT Holdings has also given an additional $2.5 million from the company treasury this election cycle, according to public filings. He commented to Fox News, explaining that his donation to American Crossroads had nothing to do with social policies that could spark crossfire. "I've never heard one discussion of a social issue. This is all about fiscal sanity."
TRT Holdings
TRT Holdings is a private holding company based in Irving, Texas, that owns hotel chain Omni Hotels, Gold's Gym International, Tana Exploration, an oil and gas exploration firm, Waldo's Dollar Mart in Mexico and many investments in other companies...
, the holding company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
of Omni Hotels and Gold's Gym
Gold's Gym
Gold's Gym International, Inc. is an international chain of co-ed fitness centers originally started in California by Joe Gold. Each gym features a wide array of exercise equipment, group exercise classes and personal trainers to assist clients...
.
Biography
A native of Corpus Christi, TexasCorpus Christi, Texas
Corpus Christi is a coastal city in the South Texas region of the U.S. state of Texas. The county seat of Nueces County, it also extends into Aransas, Kleberg, and San Patricio counties. The MSA population in 2008 was 416,376. The population was 305,215 at the 2010 census making it the...
, Rowling has an undergraduate degree from the University of Texas at Austin
University of Texas at Austin
The University of Texas at Austin is a state research university located in Austin, Texas, USA, and is the flagship institution of the The University of Texas System. Founded in 1883, its campus is located approximately from the Texas State Capitol in Austin...
and a law degree from Southern Methodist University
Southern Methodist University
Southern Methodist University is a private university in Dallas, Texas, United States. Founded in 1911 by the Methodist Episcopal Church, South, SMU operates campuses in Dallas, Plano, and Taos, New Mexico. SMU is owned by the South Central Jurisdiction of the United Methodist Church...
.
In 1972, Rowling began working for Tana Oil and Gas, which was owned by his father, Reese Rowling, and William Colson. In 1989 Texaco
Texaco
Texaco is the name of an American oil retail brand. Its flagship product is its fuel "Texaco with Techron". It also owns the Havoline motor oil brand....
acquired Tana for $476 million, thereby providing money that was used to form TRT Holdings. Five years later, TRT Holdings sold Corpus Christi National Bank for $131 million. TRT Holdings would later purchase Omni Hotels for $500 million and Gold's Gym
Gold's Gym
Gold's Gym International, Inc. is an international chain of co-ed fitness centers originally started in California by Joe Gold. Each gym features a wide array of exercise equipment, group exercise classes and personal trainers to assist clients...
for $180 million. In August 2010, Rowling made the winning bid to acquire the bankrupt Amelia Island Plantation
Amelia Island Plantation
Amelia Island Plantation is a luxury resort located on Amelia Island, Florida, the westernmost barrier island on the Atlantic Ocean in the U.S. The resort's tennis facility hosted the Bausch & Lomb Championships, a major Women's Tennis Association tournament, for 20 years...
Resort for $67.1 Million.
Rowling served as a regent to the University of Texas System
University of Texas System
The University of Texas System encompasses 15 educational institutions in Texas, of which nine are academic universities and six are health institutions. The system is headquartered in Austin and has a total enrollment of over 190,000 students...
until February 6, 2009 when he resigned over a controversy regarding bonuses paid to the UTIMCO investment staff. Governor Rick Perry
Rick Perry
James Richard "Rick" Perry is the 47th and current Governor of Texas. A Republican, Perry was elected Lieutenant Governor of Texas in 1998 and assumed the governorship in December 2000 when then-governor George W. Bush resigned to become President of the United States. Perry was elected to full...
and Texas state senators had sought to go back on compensation agreements with the staff. Unwilling to break the contracts and disgusted by their grandstanding, Rowling quit during a Texas Senate Finance Committee meeting and followed it up a day later with a formal letter of resignation
As of September 2011, he is worth US$4.7 billion. He is the 66th richest person in the United States. He is married, with two children. He lives in Dallas, Texas
Dallas, Texas
Dallas is the third-largest city in Texas and the ninth-largest in the United States. The Dallas-Fort Worth Metroplex is the largest metropolitan area in the South and fourth-largest metropolitan area in the United States...
.
Political activities
He is a conservative RepublicanRepublican Party (United States)
The Republican Party is one of the two major contemporary political parties in the United States, along with the Democratic Party. Founded by anti-slavery expansion activists in 1854, it is often called the GOP . The party's platform generally reflects American conservatism in the U.S...
and a major donor to the party. He is also one of four billionaire backers of the conservative political action group American Crossroads
American Crossroads
American Crossroads is a 527 organization that has raised and spent tens of millions of dollars to defend and elect Republican candidates to federal office, and was very active in the 2010 U.S. midterm elections. Its president is Steven J. Law, a former United States Deputy Secretary of Labor for...
. According to an article published in Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
magazine, "Rowling is facing a rebellion at his fitness chain Gold’s Gym after his $2 million donation to Karl Rove’s conservative group sparked protest from gay rights advocates". Rowling gave a $2 million gift to Karl Rove’s "conservative PAC American Crossroads, which has given money to candidates with anti-gay views.". He gave more than $2 million as a private donation completely independent from his company, TRT Holdings. TRT Holdings has also given an additional $2.5 million from the company treasury this election cycle, according to public filings. He commented to Fox News, explaining that his donation to American Crossroads had nothing to do with social policies that could spark crossfire. "I've never heard one discussion of a social issue. This is all about fiscal sanity."