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John C. Malone

John C. Malone

John Carl Malone (born March 7, 1941) is an American billionaire businessman, landowner and philanthropist. He was chief executive officer (CEO) of Tele-Communications Inc. (TCI), a cable and media giant, for twenty-four years from 1973 to 1996. Malone is now chairman and largest voting shareholder of Liberty Media, Liberty Global, and Qurate Retail Group (formerly known as Liberty Interactive), and also owns 7% of Lionsgate and Starz Inc..[2][3][4][5] He was interim CEO of Liberty Media, until succeeded by former Microsoft and Oracle CFO Greg Maffei.

Born
ResidenceElizabeth, Colorado, US[1]
NationalityAmerican
EducationYale University(B.A.)New York University(M.S.)Johns Hopkins University(M.S.,Ph.D)
Known forMedia proprietorship, philanthropy
Net worthUS$7.2billion(April 2019)[1]
Leslie
Children2
Parent(s)Daniel L. Malone

Early life and education

John C. Malone was born on March 7, 1941 in Milford, Connecticut.[6][7] His father was Daniel L. Malone, an engineer.[8] Malone is of Irish heritage, his family originating in County Cork.[9][10][11]

In 1959, Malone graduated from Hopkins School in New Haven, Connecticut. In 1963, he graduated from Yale University with a bachelor's degree in electrical engineering and economics, where he was a Phi Beta Kappa and National Merit scholar. In 1964, Malone graduated from Johns Hopkins University with a master's degree in industrial management. He received a master's in electrical engineering at an NYU program at Bell Labs in 1965 before receiving his PhD in operations research at Johns Hopkins in 1967.[12]

Business career

In 1963, Malone began his business career at Bell Telephone Laboratories of AT&T, working in economic planning and research and development. In 1968, he joined McKinsey & Company, and in 1970, became group vice president at General Instrument Corporation (GI). He was later president of Jerrold Electronics, a GI subsidiary. For twenty-four years, from 1973 to 1996, Malone served as president and CEO of Tele-Communications Inc. (TCI).

Malone is on the boards of directors for Bank of New York Mellon, the Cato Institute, and Expedia.com. Malone is chairman emeritus of Cable Television Laboratories, Inc. and chairman of Liberty Global, Inc., and formerly the DirecTV Group.[12] His rise to chairman at Liberty Global was contentious at times. In 2005, Malone held 32 percent of the shares in the media company News Corporation, and although only about half were voting shares, Rupert Murdoch reportedly had concerns that he might lose control of his company to Malone, and tried to oust him from the firm with a "poison pill" strategy.[13] He was director of the National Cable & Telecommunications Association (NCTA) from 1974 to 1977, and again from 1980 to 1993. During the 1977–1978 term, Malone was the NCTA's treasurer.[12]

Land ownership

Malone owns Silver Spur Ranches, a ranching and beef company which includes the Silver Spur Ranch in Encampment, Wyoming, Bell Ranch and the TO Ranch in New Mexico as well as ranches in Walden, Colorado and Kiowa, Colorado.[7][14] As of 1 February 2011, he surpassed Ted Turner as the largest individual private landowner in the US, owning 2,100,000 acres (8,500 km2) of land, most of which is in Maine.[15] His international real estate holdings include Humewood Castle[16] and Castlemartin House and Estate, both in Ireland.

Philanthropy

In 2000, Malone gave $24 million for the construction of Yale's Daniel L. Malone Engineering Center, named in honor of his father.[8] In 2011, Malone gave the Johns Hopkins Whiting School of Engineering's largest gift ever of $30 million for a new building on Homewood Campus. The building will be named Malone Hall.[17] In the same year, he gave the Yale School of Engineering & Applied Science's largest gift ever of $50 million.[8] Malone has also given $60 million to Hopkins School to fund the construction of two new buildings, Malone Science Center, named for his father, as well as Heath Commons, named after his favorite Hopkins teacher.

In 2014, Malone and his wife donated $42.5 million to Colorado State University to help create their Institute for Biologic Translational Therapies, which aims to develop stem cell and other treatments for animals and people. Of the donation, $32.5 million will pay for half the construction costs and $10 million will go to operational expenses.[18]

Malone Scholars Program

In 1997, he established the Malone Family Foundation, which operates the Malone Scholars Program that provides scholarship endowments to select private schools throughout the United States after a rigorous research process of top schools,[19] including Hopkins School, Waynflete School, and thirty-six others as of 2011.[20]

Personal life

Malone is married to Leslie, they have two children, and live in Elizabeth, Colorado, US[1][21] His wife is active in dressage and horse breeding, and founded Harmony Sporthorses in Kiowa, Colorado.[22]

In 2008, their son Evan D. Malone joined the board of Liberty Media.[23][24]

Malone reportedly shuns the limelight and glamorous lifestyle and takes his family vacations alongside long time friend Gary Biskup, in a recreational vehicle.[25][26] However, in business dealings he has been dubbed "Darth Vader", a nickname allegedly given to him by Al Gore when Malone was the head of TCI, where he demanded equity positions in cable programming services in return for carriage, and attempted to defeat the must-carry rules which protected broadcasters, a battle which the cable industry eventually lost in 1997 in the U.S. Supreme Court.[27][28] In a news article published in The Denver Post newspaper in 2017, it was disclosed that Malone received the "Darth Vader" title because Al Gore's grandmother lived in territory where TCI provided service. She did not understand why cable bills went up when the company was delivering more content.[29]

In 1994, Wired portrayed Malone on their cover as "Mad Max" from The Road Warrior (also known as Mad Max 2), with an interview describing his battles with the FCC.[30] He is also known as the "Cable Cowboy".[31]

His political beliefs have been described as libertarian.[32] He donated US$250,000 to Donald Trump's inauguration in 2017, with colleague Greg Maffei, Liberty Media, and Liberty Interactive each donating a further US$250,000.[33]

References

[1]
Citation Linkwww.forbes.com"Forbes profile: John Malone". Forbes. Retrieved 9 April 2019.
Sep 26, 2019, 6:27 PM
[2]
Citation Linkdeadline.comAndreeva, Nellie (14 March 2016). "CBS Mulling Acquisition Of Pay Cable Network Starz".
Sep 26, 2019, 6:27 PM
[3]
Citation Linkvariety.comLittleton, Cynthia (15 March 2016). "John Malone: 'Cable Cowboy' Faces the Test in Rounding Up the Right Mix of Assets". Variety.
Sep 26, 2019, 6:27 PM
[4]
Citation Linkdeadline.comBusch, David Lieberman, Anita (10 November 2015). "Lionsgate Strengthens Ties To John Malone: Liberty Global Buy Stakes".
Sep 26, 2019, 6:27 PM
[5]
Citation Linkwww.telegraph.co.uk"John Malone: the mystery method behind a media empire". Daily Telegraph.
Sep 26, 2019, 6:27 PM
[6]
Citation Linkwww.yale.edu"Gift from alumnus John Malone to fund engineering building". Yale Bulletin & Calendar. Archived from the original on 2009-04-18. Retrieved 2011-11-05.
Sep 26, 2019, 6:27 PM
[7]
Citation Linkfortune.comJeff Hull, Meet the largest landowner in America, Fortune, September 27, 2012
Sep 26, 2019, 6:27 PM
[8]
Citation Linkwww.yaledailynews.com"SEAS nets $50 million donation". Yale Daily News. Archived from the original on 2011-05-30. Retrieved 2011-11-04.
Sep 26, 2019, 6:27 PM
[9]
Citation Linkwww.irishcentral.comPatrick Counihan (December 27, 2012). "Irish American John Malone pays $10million for luxury Irish estate". IrishCentral.
Sep 26, 2019, 6:27 PM
[10]
Citation Linkwww.independent.iePeter Flanagan (December 22, 2014). "US mogul John Malone buys up former Tony O'Reilly estate Castlemartin for €28m". Irish Independent.
Sep 26, 2019, 6:27 PM
[11]
Citation Linkwww.independent.ieKim Bielenberg (April 5, 2014). "Homecoming of two million acre man John C Malone". Irish Independent.
Sep 26, 2019, 6:27 PM
[12]
Citation Linkir.libertymedia.com"Company Overview -–Management". Liberty Media. Retrieved 2014-02-09.
Sep 26, 2019, 6:27 PM
[13]
Citation Linkwww.telegraph.co.ukTrefgarne, George (August 26, 2005). "Murdoch's son sees pay doubled ahead of exit". The Daily Telegraph. London.
Sep 26, 2019, 6:27 PM
[14]
Citation Linksilverspurranches.com"Silver Spur Ranches". silverspurranches.com. Retrieved 2017-11-11.
Sep 26, 2019, 6:27 PM
[15]
Citation Linkwww.nytimes.comSeelye, Katharine Q. (28 January 2011). "For Land Barons, Acres By the Millions". The New York Times.
Sep 26, 2019, 6:27 PM
[16]
Citation Linkwww.bloomberg.comFlynn, Finbarr (21 May 2013). "John Malone Buys Irish 'Green Banana' as Castle Prices Fall". Bloomberg. Retrieved 2013-05-21.
Sep 26, 2019, 6:27 PM
[17]
Citation Linkreleases.jhu.edu"Liberty's Malone Makes Largest Gift Ever to Whiting School". Johns Hopkins University. Retrieved 2011-11-05.
Sep 26, 2019, 6:27 PM
[18]
Citation Linkdenver.cbslocal.com"Billionaire John Malone Donates Millions to Colorado State University". CBS Denver. 29 December 2014. Retrieved 2015-04-28.
Sep 26, 2019, 6:27 PM
[19]
Citation Linkwww.malonefamilyfoundation.com"About the Foundation: Who We Are". Malone Family Foundation. Retrieved 2011-11-04.
Sep 26, 2019, 6:27 PM
[20]
Citation Linkwww.malonefamilyfoundation.com"Malone Scholars: Program Schools Offering Malone Scholarships". Malone Family Foundation. Retrieved 2011-11-04.
Sep 26, 2019, 6:27 PM