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David Bonderman (born November 27, 1942) is an American billionaire businessman. He is the founding partner of
TPG Capital TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American investment company based in Fort Worth, Texas. The private equity firm is focused on leveraged buyouts and growth capital. TPG manages investment funds in growth c ...
(formerly Texas Pacific Group), and its Asian affiliate,
Newbridge Capital TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American investment company based in Fort Worth, Texas. The private equity firm is focused on leveraged buyouts and growth capital. TPG manages investment funds in growth c ...
. He is also one of the minority owners of the NBA's Boston Celtics as well as the co-founder and co-majority owner (along with
Jerry Bruckheimer Jerome Leon Bruckheimer (born September 21, 1943) is an American film and television producer. He has been active in the genres of action, drama, fantasy, and science fiction. His films include '' Flashdance'', ''Top Gun'', '' The Rock'', '' ...
) of the
Seattle Kraken The Seattle Kraken are a professional ice hockey team based in Seattle. The Kraken compete in the National Hockey League (NHL) as a member of the Pacific Division in the Western Conference and began play during the league's 2021–22 season. ...
of the
National Hockey League The National Hockey League (NHL; french: Ligue nationale de hockey—LNH, ) is a professional ice hockey league in North America comprising 32 teams—25 in the United States and 7 in Canada. It is considered to be the top ranked professional ...
. , he has an estimated net worth of US$4.5 billion.


Early life and education

Bonderman was born to a
Jewish Jews ( he, יְהוּדִים, , ) or Jewish people are an ethnoreligious group and nation originating from the Israelites Israelite origins and kingdom: "The first act in the long drama of Jewish history is the age of the Israelites""The ...
family,Taub, Orna
"TPG Sells Shares of Indian Company – Win-win for Everybody!"
Jewish Business News ''Jewish Business News'' is an online newspaper published in English, which primarily covers stories relating to businesses owned, or managed, by Jewish business people around the world, as is implied by the paper’s nameplate. The newspaper lau ...
, March 26, 2013
in
Los Angeles Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the List of municipalities in California, largest city in the U.S. state, state of California and the List of United States cities by population, sec ...
on November 27, 1942, and was educated there at University High School. Bonderman studied at the
University of Washington The University of Washington (UW, simply Washington, or informally U-Dub) is a public research university in Seattle, Washington. Founded in 1861, Washington is one of the oldest universities on the West Coast; it was established in Seattl ...
, where he graduated
Phi Beta Kappa The Phi Beta Kappa Society () is the oldest academic honor society in the United States, and the most prestigious, due in part to its long history and academic selectivity. Phi Beta Kappa aims to promote and advocate excellence in the liberal ...
in 1963, and at Harvard Law School, where he graduated magna cum laude in 1966. He was also a member of the '' Harvard Law Review'' and a Sheldon Fellow. During his time at Harvard, he traveled to
Cairo Cairo ( ; ar, القاهرة, al-Qāhirah, ) is the Capital city, capital of Egypt and its largest city, home to 10 million people. It is also part of the List of urban agglomerations in Africa, largest urban agglomeration in Africa, List of ...
, Egypt, to study Islamic Legal Jurisprudence and Law, and became proficient in various Islamic legal cliques developing a near-native fluency in
Modern Standard Arabic Modern Standard Arabic (MSA) or Modern Written Arabic (MWA), terms used mostly by linguists, is the variety of standardized, literary Arabic that developed in the Arab world in the late 19th and early 20th centuries; occasionally, it also ref ...
. Bonderman began providing the funding for the Bonderman Travel Fellowship at the
University of Washington The University of Washington (UW, simply Washington, or informally U-Dub) is a public research university in Seattle, Washington. Founded in 1861, Washington is one of the oldest universities on the West Coast; it was established in Seattl ...
in 1995 which gives eight undergraduate and six graduate students per year with the opportunity to travel the world independently, with very little structure or regulations. In 2013, Bonderman's daughter, Samantha Holloway, donated the funding to create a similar fellowship at the
University of Michigan , mottoeng = "Arts, Knowledge, Truth" , former_names = Catholepistemiad, or University of Michigania (1817–1821) , budget = $10.3 billion (2021) , endowment = $17 billion (2021)As o ...
. While the fellowships share the same name (the Bonderman Fellowship), they vary in both eligibility and execution.


Career

Bonderman was an assistant professor at
Tulane University Law School Tulane University Law School is the law school of Tulane University. It is located on Tulane's Uptown campus in New Orleans, Louisiana. Established in 1847, it is the 12th oldest law school in the United States. In addition to the usual common ...
during 1967 and 1968; he then was a special assistant to the
United States Attorney General The United States attorney general (AG) is the head of the United States Department of Justice, and is the chief law enforcement officer of the federal government of the United States. The attorney general serves as the principal advisor to the p ...
during 1968 and 1969. In 1971, he joined the law firm of
Arnold & Porter Arnold & Porter Kaye Scholer LLP is an American multinational law firm. A white-shoe firm, Arnold & Porter is among the largest law firms in the world, by both revenue and by its number of lawyers. History Arnold & Porter was founded in 1946 ...
in
Washington, D.C. ) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, ...
, where he became a partner and specialized in corporate, securities, bankruptcy and antitrust litigation. In 1983, he joined the Robert M. Bass Group, Inc. (RMBG), which now does business as Keystone Inc., and became the chief operating officer. Bonderman has been a principal at TPG Capital in
Fort Worth, Texas Fort Worth is the fifth-largest city in the U.S. state of Texas and the 13th-largest city in the United States. It is the county seat of Tarrant County, covering nearly into four other counties: Denton, Johnson, Parker, and Wise. Accord ...
, since December 1992, where he is also co-founder and chairman. In 2008, Bonderman was named as one of the investors of what became the
T-Mobile Arena T-Mobile Arena is a multi-purpose indoor arena in Paradise, Nevada. Opened on April 6, 2016, it is the home arena of the Vegas Golden Knights of the National Hockey League (NHL). A joint venture between MGM Resorts International and Anschutz En ...
in
Las Vegas Las Vegas (; Spanish for "The Meadows"), often known simply as Vegas, is the 25th-most populous city in the United States, the most populous city in the state of Nevada, and the county seat of Clark County. The city anchors the Las Vegas ...
. Bonderman was a director of Continental Airlines,
Böwe Bell & Howell Bell and Howell LLC is a U.S.-based services organization and former manufacturer of cameras, lenses, and motion picture machinery, founded in 1907 by two projectionists, and originally headquartered in Wheeling, Illinois. The company is now h ...
,
Ducati Motor Holding S.p.A. Ducati Motor Holding S.p.A. () is the motorcycle-manufacturing division of Italian company Ducati, headquartered in Bologna, Italy. The company is directly owned by Italian automotive manufacturer Lamborghini, whose German parent company is Aud ...
, Credicom Asia, the National Education Corp., Beringer Wine Estates, Carr Realty, Virgin Cinemas,
CoStar Group CoStar Group, Inc. is a Washington, DC-based provider of information, analytics and marketing services to the commercial property industry in the United States, Canada, the United Kingdom, France, Germany, and Spain. Founded in 1987 by Andrew C. ...
,
Gemalto Gemalto was an international digital security company providing software applications, secure personal devices such as smart cards and tokens, and managed services. It was formed in June 2006 by the merger of two companies, Axalto and Gemplus ...
, and Ryanair. He is on the boards of The Wilderness Society, the Grand Canyon Trust, the
World Wide Fund for Nature The World Wide Fund for Nature Inc. (WWF) is an international non-governmental organization founded in 1961 that works in the field of wilderness preservation and the reduction of human impact on the environment. It was formerly named the Wor ...
, The University of Washington Foundation and the American Himalayan Foundation. He previously served on the boards of
Washington Mutual Washington Mutual (often abbreviated to WaMu) was the United States' largest savings and loan association until its collapse in 2008. A savings bank holding company is defined in United States Code: Title 12: Banks and Banking; Section 1842: Def ...
,
American Savings Bank American Savings Bank is Hawaii's third-largest financial institution, with assets of $6.7 billion. A subsidiary of Hawaiian Electric Industries (NYSE: HE), it is headed by Chairman Constance Lau. American Savings Bank dates back to Septemb ...
, Denbury Resources and Burger King. He was a board member of
Uber Uber Technologies, Inc. (Uber), based in San Francisco, provides mobility as a service, ride-hailing (allowing users to book a car and driver to transport them in a way similar to a taxi), food delivery (Uber Eats and Postmates), packa ...
until he resigned from that position in June 2017. In June 2017, Bonderman resigned from the board of
Uber Uber Technologies, Inc. (Uber), based in San Francisco, provides mobility as a service, ride-hailing (allowing users to book a car and driver to transport them in a way similar to a taxi), food delivery (Uber Eats and Postmates), packa ...
amidst controversy surrounding a sexist response to fellow board member
Arianna Huffington Arianna Stassinopoulos Huffington (née Ariadnē-Anna Stasinopoúlou, el, Αριάδνη-Άννα Στασινοπούλου ; born July 15, 1950) is a Greek-American author, syndicated columnist and businesswoman. She is a co-founder of '' Th ...
during a company all-hands meeting. "There’s a lot of data that shows when there’s one woman on the board, it’s much more likely that there will be a second woman on the board," said Huffington. Bonderman replied, "actually, what it shows is that it's much more likely to be more talking." The Uber meeting was, among other things, slated to discuss efforts to rein in a toxic and sexist culture at the company. In 2018, Bonderman filed an application for a
National Hockey League The National Hockey League (NHL; french: Ligue nationale de hockey—LNH, ) is a professional ice hockey league in North America comprising 32 teams—25 in the United States and 7 in Canada. It is considered to be the top ranked professional ...
(NHL) expansion team to play at a renovated Key Arena in
Seattle Seattle ( ) is a seaport city on the West Coast of the United States. It is the seat of King County, Washington. With a 2020 population of 737,015, it is the largest city in both the state of Washington and the Pacific Northwest regio ...
, Washington. The
NHL Board of Governors The National Hockey League (NHL; french: Ligue nationale de hockey—LNH, ) is a professional ice hockey league in North America comprising 32 teams—25 in the United States and 7 in Canada. It is considered to be the top ranked professional ...
voted to approve the team, named the
Seattle Kraken The Seattle Kraken are a professional ice hockey team based in Seattle. The Kraken compete in the National Hockey League (NHL) as a member of the Pacific Division in the Western Conference and began play during the league's 2021–22 season. ...
, on December 4.


Wildcat, Infinity Q, Velissaris

Wildcat Capital Management was originally Bonderman's family office.Weiss, Miles
"Mutual Fund Locks Out Founder After SEC Questions Swaps Pricing"
Bloomberg.com Bloomberg News (originally Bloomberg Business News) is an international news agency headquartered in New York City and a division of Bloomberg L.P. Content produced by Bloomberg News is disseminated through Bloomberg Terminals, Bloomberg Tele ...
, February 22, 2021. Retrieved 2021-02-27.
In early 2019, a
mutual fund A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV ...
named Infinity Q Diversified Alpha Fund had reportedly said on its website that the "investment team and control functions are largely the same for both Wildcat and Infinity Q." Wildcat also reportedly had $100 million invested in the fund. Infinity Q had been founded in 2014. In early 2021, the $1.7 billion Infinity Q fund suspended redemptions, the SEC was investigating asset valuations and the chief investment officer, James Velissaris, had been placed on administrative leave. Zweig, Jason
"Investors Piled Into This Magical Money Machine. Now They’re Stuck"
''
Wall Street Journal ''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...
'', February 26, 2021. Retrieved 2021-02-26.
Leonard Potter, Infinity Q's non-executive chairman and owner of Wildcat, was designated to take over Infinity Q's management. Wildcat "managed more than $3 billion at the end of 2019, including capital from Bonderman." In February 2021, SEC charged Velissaris in a fraudulent scheme to overvalue assets held by the Infinity Q Diversified Alpha mutual fund and the Infinity Q Volatility Alpha private fund. According to the complaint, Velissaris collected more than $26 million through fraudulent conduct, deceived SEC staff by creating backdated minutes non-existent valuation meetings, and altering valuation policy documents. The U.S. Attorney’s Office for the Southern District of New York announced criminal charges against Velissaris, and the Commodity Futures Trading Commission (CFTC) announced parallel civil charges against him. In April 2021, the ''Wall Street Journal'' analyzed specific valuation problems in the fund portfolios and received some comment on them. It also reported an apparent loss of $500 million in the fund, bringing valuation to $1.2 billion, and some discussion of the loss. Velissaris was identified as having been majority owner and in control of the fund with Bonderman family investment interests as passive investors in it. Infinity Q was expected to present a plan to distribute funds to investors by May 24, the report concluded.Banerji, Gunjan
"Behind the Mysterious Demise of a $1.7 Billion Mutual Fund"
''
Wall Street Journal ''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...
'', April 20, 2021. Retrieved 2021-04-20.


Personal life

Bonderman is married to Dr. Laurie Michaels; they have five children, and live in
Fort Worth, Texas Fort Worth is the fifth-largest city in the U.S. state of Texas and the 13th-largest city in the United States. It is the county seat of Tarrant County, covering nearly into four other counties: Denton, Johnson, Parker, and Wise. Accord ...
. In 2002, for his 60th birthday, Bonderman had
The Rolling Stones The Rolling Stones are an English Rock music, rock band formed in London in 1962. Active for six decades, they are one of the most popular and enduring bands of the album era, rock era. In the early 1960s, the Rolling Stones pioneered the g ...
and
John Mellencamp John J. Mellencamp (born October 7, 1951), previously known as Johnny Cougar, John Cougar, and John Cougar Mellencamp, is an American singer-songwriter. He is known for his catchy brand of heartland rock, which emphasizes traditional instrument ...
play at his birthday party at The Joint at
Hard Rock Hotel and Casino Hard Rock Cafe, Inc. is a British-based multinational chain of theme restaurants, memorabilia shops, casinos and museums founded in 1971 by Isaac Tigrett and Peter Morton in London. In 1979, the cafe began covering its walls with rock and ro ...
in Las Vegas. John Mellencamp played for an hour, The Rolling Stones played for an hour and a half, and comedian
Robin Williams Robin McLaurin Williams (July 21, 1951August 11, 2014) was an American actor and comedian. Known for his improvisational skills and the wide variety of characters he created on the spur of the moment and portrayed on film, in dramas and come ...
entertained guests between acts. The party cost $7 million, making it one of the most expensive private concerts ever held. In 2012, for his 70th birthday party, Bonderman held a private concert by former
The Beatles The Beatles were an English rock band, formed in Liverpool in 1960, that comprised John Lennon, Paul McCartney, George Harrison and Ringo Starr. They are regarded as the most influential band of all time and were integral to the developmen ...
member
Paul McCartney Sir James Paul McCartney (born 18 June 1942) is an English singer, songwriter and musician who gained worldwide fame with the Beatles, for whom he played bass guitar and shared primary songwriting and lead vocal duties with John Lennon. One ...
at
Wynn Las Vegas Wynn Las Vegas, often simply referred to as Wynn, is a luxury resort and casino located on the Las Vegas Strip in Paradise, Nevada, United States. It is owned and operated by Wynn Resorts, and was built on the former site of the Desert Inn resor ...
for 1,020 guests.
Robin Williams Robin McLaurin Williams (July 21, 1951August 11, 2014) was an American actor and comedian. Known for his improvisational skills and the wide variety of characters he created on the spur of the moment and portrayed on film, in dramas and come ...
also performed a comedy routine. Bonderman donated $1000 to each guest's charity of choice.


Awards and honors

*1999, Golden Plate Award of the
American Academy of Achievement The American Academy of Achievement, colloquially known as the Academy of Achievement, is a non-profit educational organization that recognizes some of the highest achieving individuals in diverse fields and gives them the opportunity to meet ...
*2004, The M&A Advisor Hall of Fame *2016, Woodrow Wilson Award for Corporate Citizenship *2017, Texas Business Hall of Fame


References


Further reading

*


External links

* {{DEFAULTSORT:Bonderman, David 1942 births Living people 20th-century American businesspeople 21st-century American businesspeople American billionaires American chief executives of financial services companies American financial company founders American financiers American investors American sports businesspeople Arnold & Porter people Businesspeople from Los Angeles Businesspeople from Texas Businesspeople from Washington, D.C. Corporate lawyers Harvard Law School alumni Jewish American attorneys Jewish American philanthropists Lawyers from Washington, D.C. National Hockey League owners Private equity and venture capital investors Seattle Kraken owners TPG Capital Tulane University faculty Tulane University Law School faculty University High School (Los Angeles) alumni University of Washington alumni 21st-century American Jews