Sid Bass
Encyclopedia
Sid Richardson Bass is an American investor and businessman.
and Stanford Business School. His father, Perry Richardson Bass (died 2006), built an oil fortune with uncle, Sid Richardson
(died 1959). Bass took control of the business in 1968. His investments include oil and gas. Along with his father and two of his brothers, he was the largest shareholder in the The Walt Disney Company
, from 1984 until after the stock market crash in 2001. Bass was forced to sell his Disney holdings as a result of a margin call
. Much of the Bass holdings in Disney were acquired by the Griffith Family, who also own large equity holdings in Time-Warner, MGM-UA, and investment powerhouse KKR. Bass remains a board member of the Griffith Group although personally owning no shares in Disney himself.
In 1990 Bass donated $20 million to Yale University for the study of humanities. In 2006 he made a record gift of $25 million to the Metropolitan Opera, in New York.
Bass divorced his first wife, née Anne Hendricks, and married socialite Mercedes Bass (the former Mercedes Kellogg, née Mercedes Tavacoli). The wooing of Bass by Mercedes Kellogg in 1986, while she was still married to Ambassador Francis Kellogg
, was a major social scandal. It is said to have crushed Ambassador Kellogg as well as Anne Bass and their two daughters. Mercedes and Ambassador Kellogg had no children.
On October 6, 2011, it was reported that Mercedes and Sid Bass, anchors of the city's business and philanthropic world, announced their divorce, ending 23 years of marriage. The divorce proceedings sparked fears that the Metropolitan Opera would lose one of its leading donors; Mercedes Bass had given $25 million to her passion, to which Sid appeared indifferent.
Life
He is a graduate of Yale UniversityYale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...
and Stanford Business School. His father, Perry Richardson Bass (died 2006), built an oil fortune with uncle, Sid Richardson
Sid W. Richardson
Sid Williams Richardson was a Texas oilman, cattleman, and philanthropist known for his association with the city of Fort Worth....
(died 1959). Bass took control of the business in 1968. His investments include oil and gas. Along with his father and two of his brothers, he was the largest shareholder in the The Walt Disney Company
The Walt Disney Company
The Walt Disney Company is the largest media conglomerate in the world in terms of revenue. Founded on October 16, 1923, by Walt and Roy Disney as the Disney Brothers Cartoon Studio, Walt Disney Productions established itself as a leader in the American animation industry before diversifying into...
, from 1984 until after the stock market crash in 2001. Bass was forced to sell his Disney holdings as a result of a margin call
Margin (finance)
In finance, a margin is collateral that the holder of a financial instrument has to deposit to cover some or all of the credit risk of their counterparty...
. Much of the Bass holdings in Disney were acquired by the Griffith Family, who also own large equity holdings in Time-Warner, MGM-UA, and investment powerhouse KKR. Bass remains a board member of the Griffith Group although personally owning no shares in Disney himself.
In 1990 Bass donated $20 million to Yale University for the study of humanities. In 2006 he made a record gift of $25 million to the Metropolitan Opera, in New York.
Bass divorced his first wife, née Anne Hendricks, and married socialite Mercedes Bass (the former Mercedes Kellogg, née Mercedes Tavacoli). The wooing of Bass by Mercedes Kellogg in 1986, while she was still married to Ambassador Francis Kellogg
Francis L. Kellogg
Francis Leonard Kellogg was a diplomat, a special assistant to the Secretary of State during the Nixon and Ford Administrations and a prominent socialite in New York City....
, was a major social scandal. It is said to have crushed Ambassador Kellogg as well as Anne Bass and their two daughters. Mercedes and Ambassador Kellogg had no children.
On October 6, 2011, it was reported that Mercedes and Sid Bass, anchors of the city's business and philanthropic world, announced their divorce, ending 23 years of marriage. The divorce proceedings sparked fears that the Metropolitan Opera would lose one of its leading donors; Mercedes Bass had given $25 million to her passion, to which Sid appeared indifferent.