Todd Boehly

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Todd Boehly
Todd Boehly Official Headshot.jpg
NationalityAmerican
Alma materCollege of William & Mary
London School of Economics
Occupationbusinessman
investor
philanthropist
TitleEldridge Industries (co-founder, chairman & CEO)
Children3

Todd Boehly is an American businessman, investor, and philanthropist. He is the Co-founder, Chairman, Chief Executive Officer and controlling member of Eldridge Industries, a holding company[2] headquartered in Greenwich, Connecticut.[3][4][5]

Early life and education[]

Boehly, whose grandparents emigrated from Germany, attended Landon School in Bethesda, Maryland, graduating in 1991.[6] He was a member of the school's wrestling team, which won I.A.C. championships in both 1990 and 1991.[7] In 2014, Landon named their facilities the Boehly Family Wrestling Room in Boehly's honor.[8]

He graduated from the College of William & Mary in 1996 with a B.B.A in Finance. He also studied at the London School of Economics.[9] While at the London School of Economics, Boehly began working at Citibank and then at CS First Boston so he could gain experience with finance. In an interview with Andy Serwer, Boehly said that "I just kind of lived with a simple mantra, if I said I was going to do it I'd get it done. And when you have a reputation for being able to get stuff done it's amazing what more stuff ends up, piling up in your inbox."[10]

Career[]

1991–2015: Early career, Guggenheim Partners[]

Boehly spent his early career at Credit Suisse First Boston and J.H. Whitney & Company.[11][12] He joined Guggenheim Partners in 2001, where he launched the firm's credit investing business, assumed responsibilities for its asset management business, and most recently served as president.[13][11][14]

In early 2013, Boehly led a deal between Time Warner Cable and the Dodgers to create SportsNet LA, a regional network to broadcast all Dodgers’ games and Dodgers-related programming. Broadcasting from the new team-owned network began at the beginning of the 2014 baseball season.[15][16][17][18][19]

2015–present: Founding Eldridge, investment career[]

In 2015, Boehly bought some of the assets he had collected at Guggenheim, including The Hollywood Reporter, Dick Clark Productions, and Security Benefit to found Eldridge, a private holding company which invests in various industries.[20][21] In a 2019 interview with Bloomberg News, Boehly discussed the process of founding Eldridge, and its early expansion into different industries.[22] In addition to Greenwich, Eldridge also has offices in New York, London and Beverly Hills.[23]

I think being diversified [...] really helps us ride out the cycles. [...] I think that with the stability of our funding base is so predictable, right. So you know, I think that the combination of being very diversified, not having event risk in the model and then having a really good funding base and a really good financial capital partner with me really gives stability to the platform.[10]

Boehly is on the boards of Cain International, Kennedy Wilson, PayActiv, Truebill, CAIS, Horizon Acquisition Corporation I, and Horizon Acquisition Corporation II.[24][25]

Life insurance[]

Boehly's firm Eldridge owns Security Benefit Life Insurance,[26] and SE2, a technology platform for insurance companies.[27] In 2021, he invested in Clearcover Insurance,[10] and DPL Financial Advisors, an RIA insurance network.[28]

Real estate[]

Boehly's real estate investments include Cain International, a real estate firm headquartered in London, is co-owned by Eldridge.[29] Through Eldridge, Boehly has also invested in real estate firms such as Kennedy Wilson, and helped found European real investment firm Blackbrook Capital.[30][31]

Technology[]

As CEO, chairman and co-founder of Eldridge, Boehly has invested in the digital technology industry, including companies such as Gopuff and artificial intelligence company Dataminr.[32][33] GoPuff filed to raise an additional $1 billion in July 2021, taking the company from a $14 billion valuation to $15 billion.[34]

Eldridge has invested in Wealthsimple,[35] which was valued at approximately $4 billion in 2021.[36]

Boehly acquired data technology company Knoema through Eldridge in 2020.[37] He also invested in mobile game developer Tripledot Studios with Eldridge.[38]

Boehly and Eldridge led a $125 million investment round for financial technology company Stash, which was valued at $1.4 billion in February 2021.[39]

Boehly's Eldridge has participated in multiple funding rounds for AI security company AnyVision,[40] digital health platform Wellthy,[41] and financial technology company Truebill, of which Boehly is also on the board.[42]

Food industry[]

Boehly has invested in the hospitality group Aurify Brands, which owns restaurant chains such as Le Pain Quotidien.[43] He also invested in Chuck E. Cheese.[44]

Sports[]

Boehly owns 20% of the Los Angeles Dodgers and is also a part owner of the Los Angeles Sparks.[45][26] In 2019, Todd Boehly made an attempt to buy the English football club Chelsea for $3 billion, but the current owner, Russian billionaire tycoon, Roman Abramovich, rejected the takeover bid.[46] Boehly is an owner of fantasy sports company DraftKings and esports organization Cloud9.[47][48]

Boehly and Mark Walter acquired a 27% stake in the Los Angeles Lakers together from Philip Anschutz in July 2021.[49][50] As of February 2021, the Lakers were third-highest valued team in the NBA, with an estimated value of $5.14 billion.[51]

Media and entertainment[]

Boehly is Chairman of MRC, which owns Dick Clark Productions and Billboard-Hollywood Reporter Media Group.[52][53] MRC has invested in A24 and Fulwell 73.[54][26] In September 2020, it was announced that Boehly's MRC and Penske Media Corporation were merging as part of a joint venture to manage their publications, including Billboard, Rolling Stone, The Hollywood Reporter, and Variety.[55] MRC and Penske announced plans to manage content such as television series, films, and live events including South by Southwest through a second joint venture.[56]

Boehly led a $3 million investment round for fan engagement platform Laylo through Eldridge.[57]

Reception and impact[]

Boehly was listed on LA Business Journal's list of the 500 most influential people in 2017, 2018, 2019 and 2020.[9][58][59][60]

Boehly has been a frequent commentator on the economic impact of the pandemic and strategies for navigating it.[61] In a June 2020 interview with Bloomberg Markets, Boehly discussed the potential investment opportunities, and the potential post-pandemic economic forecast.[62] At a global conference at the Milken Institute in October 2020, Boehly discussed the impact of the COVID-19 pandemic on sports, and stated his commitment to safely reopening ballgames and states.

In January 2021, Boehly partnered with William & Mary to produce a series of courses for students at the Boehly Center for Excellence in Finance.[63]

Philanthropy[]

Boehly helped found the Boehly Center for Excellence in Finance in 2014 at William & Mary's Raymond A. Mason School of Business with his wife Katie Boehly in 2014 via a multi-year gift.[64][65] They also sponsor the yearly women's Stock Pitch and Leadership Summit at William & Mary. In 2020 Boehly and Katie committed funding to the construction of a new athletic complex and sports performance center at the college.[66] They were honorary co-chairs of a $55 million campaign to fund William & Mary Athletics in 2021.[67]

He is also actively involved with various organizations, including Finding a Cure for Epilepsy and Seizures (FACES), the Brunswick School, the Prostate Cancer Foundation, and Focused Ultrasound Foundation.[68][69][65][70]

References[]

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