Phillip F. Anschutz
Philip Frederick Anschutz, born December 28, 1939, is an American entrepreneur. Anschutz bought out his father's drilling company, Circle A Drilling, in 1961 and earned large returns in Wyoming. He has invested in stocks, real estate and railroads. He then began investing in entertainment companies, co-founding Major League Soccer as well as multiple teams, including the Los Angeles Galaxy, Chicago Fire, Houston Dynamo, San Jose Earthquakes, and the New York / New Jersey Metro Stars. Anschutz owns stakes in the Los Angeles Lakers, Los Angeles Kings, and venues including the Staples Center, O2 Arena, and the Home Depot Center. Anschutz also invests in family films such as The Chronicles of Narnia. Forbes ranks him the 38th richest person in the U.S. with an estimated net worth of $10 billion as of 2013.
In 1970, Anschutz bought the 250,000-acre (1,000 km²) Baughman Farms, one of the country's largest farming corporations, in Liberal, Kansas for $10 million. The following year, he acquired 9 million acres (36,000 km²) along the Utah-Wyoming border. This produced his first fortune in the oil business. In the early 1980s, the Anschutz Ranch, with its 1 billion barrel (160,000,000 m³) oil pocket, became the largest oil field discovery in the United States since Prudhoe Bay in Alaska in 1968. He sold a half-interest in it to Mobil Oil for $500 million in 1982.
For several years, Anschutz was Colorado's sole billionaire. With his acquisition of land in other Western states, he is thought to own more farm and cattle land than any other single private citizen in the United States.
Anschutz then moved into railroads and telecommunications before venturing into the entertainment industry. In 1999, Fortune magazine compared him to the nineteenth-century tycoon J.P. Morgan, as both men "struck it rich in a fundamentally different way: they operated across an astounding array of industries, mastering and reshaping entire economic landscapes."
In 1984 he entered the railroad business by purchasing the Rio Grande Railroad's holding company, Rio Grande Industries. Four years later, in 1988, the Rio Grande railroad purchased the Southern Pacific Railroad under his direction. With the merger of the Southern Pacific and Union Pacific Corporation in September 1996, Anschutz became Vice-Chairman of Union Pacific. Prior to the merger, he was a Director of Southern Pacific from June 1988 to September 1996, and Non-Executive Chairman of Southern Pacific from 1993 to September 1996. He was also a Director of Forest Oil Corporation, beginning in 1995. In November 1993 he became Director and Chairman of the Board of Qwest, stepping down as a nonexecutive co-chairman in 2002, but remaining on the board. He has also been a Director for Pacific Energy Partners and served on the boards of the American Petroleum Institute, in Washington, D.C. and the National Petroleum Council in Washington, D.C.
In February 2006, the Denver Rocky Mountain News reported that Anschutz would not stand for re-election to the boards of Qwest and Union Pacific, and would resign from the board of Regal Entertainment Group, so that he could focus on his other investments.
As one of the world's wealthy billionaires, Philip Anschutz has been making a name for himself in the philanthropic community. The Anschutz Foundation, founded in 1964, supports a broad variety of community service, cultural and arts groups, as well as health facilities and initiatives - all of which make up the vast majority of the Foundation's annual giving. It also provides grants to several public policy think tanks - which account for approximately 1.5% - 2.0% of the Foundation's grants.[29][30][31]
Philip Anschutz and his wife Nancy have contributed over $100,000,000 to the new medical, dental, nursing, and pharmacy campus of the University of Colorado School of Medicine in Aurora, Colorado, which is now named the Anschutz Medical Campus in their honor. The land came from the recently-closed Fitzsimons Army Medical Center, but millions and millions were needed for the construction of new medical laboratory buildings and a new University Hospital on the land.
In 1970, Anschutz bought the 250,000-acre (1,000 km²) Baughman Farms, one of the country's largest farming corporations, in Liberal, Kansas for $10 million. The following year, he acquired 9 million acres (36,000 km²) along the Utah-Wyoming border. This produced his first fortune in the oil business. In the early 1980s, the Anschutz Ranch, with its 1 billion barrel (160,000,000 m³) oil pocket, became the largest oil field discovery in the United States since Prudhoe Bay in Alaska in 1968. He sold a half-interest in it to Mobil Oil for $500 million in 1982.
For several years, Anschutz was Colorado's sole billionaire. With his acquisition of land in other Western states, he is thought to own more farm and cattle land than any other single private citizen in the United States.
Anschutz then moved into railroads and telecommunications before venturing into the entertainment industry. In 1999, Fortune magazine compared him to the nineteenth-century tycoon J.P. Morgan, as both men "struck it rich in a fundamentally different way: they operated across an astounding array of industries, mastering and reshaping entire economic landscapes."
In 1984 he entered the railroad business by purchasing the Rio Grande Railroad's holding company, Rio Grande Industries. Four years later, in 1988, the Rio Grande railroad purchased the Southern Pacific Railroad under his direction. With the merger of the Southern Pacific and Union Pacific Corporation in September 1996, Anschutz became Vice-Chairman of Union Pacific. Prior to the merger, he was a Director of Southern Pacific from June 1988 to September 1996, and Non-Executive Chairman of Southern Pacific from 1993 to September 1996. He was also a Director of Forest Oil Corporation, beginning in 1995. In November 1993 he became Director and Chairman of the Board of Qwest, stepping down as a nonexecutive co-chairman in 2002, but remaining on the board. He has also been a Director for Pacific Energy Partners and served on the boards of the American Petroleum Institute, in Washington, D.C. and the National Petroleum Council in Washington, D.C.
In February 2006, the Denver Rocky Mountain News reported that Anschutz would not stand for re-election to the boards of Qwest and Union Pacific, and would resign from the board of Regal Entertainment Group, so that he could focus on his other investments.
As one of the world's wealthy billionaires, Philip Anschutz has been making a name for himself in the philanthropic community. The Anschutz Foundation, founded in 1964, supports a broad variety of community service, cultural and arts groups, as well as health facilities and initiatives - all of which make up the vast majority of the Foundation's annual giving. It also provides grants to several public policy think tanks - which account for approximately 1.5% - 2.0% of the Foundation's grants.[29][30][31]
Philip Anschutz and his wife Nancy have contributed over $100,000,000 to the new medical, dental, nursing, and pharmacy campus of the University of Colorado School of Medicine in Aurora, Colorado, which is now named the Anschutz Medical Campus in their honor. The land came from the recently-closed Fitzsimons Army Medical Center, but millions and millions were needed for the construction of new medical laboratory buildings and a new University Hospital on the land.
