Gerald J. Ford (born 1944) is an American attorney and businessman.Bloomberg BusinessWeek
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Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also r ...

'', 11.11.10

Biography

Early life

Gerald Ford was raised in

Pampa, Texas Pampa (from the Quechua: ''pampa'', meaning "plain") is a city in Gray County, Texas, United States. Its population was 16,867 as of the 2020 census. Pampa is the county seat of Gray County and is the principal city of the Pampa micropolit ...

, and attended Pampa Senior High School. He graduated from

Southern Methodist University , mottoeng = "The truth will make you free" , established = , type = Private research university , accreditation = SACS , academic_affiliations = , religious_affiliation = United Methodist Church , president = R. Gerald Turner , ...

Dallas, Texas Dallas () is the third largest city in Texas and the largest city in the Dallas–Fort Worth metroplex, the fourth-largest metropolitan area in the United States at 7.5 million people. It is the largest city in and seat of Dallas County ...

, in 1966, where he was a member of the Alpha Tau Omega fraternity. He received a J.D. from the SMU School of Law in 1969.

Career

He is former Chairman of the board and Chief Executive Officer of Golden State Bancorp, Inc., headquartered in

San Francisco San Francisco (; Spanish for " Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the fourth most populous in California and 17th ...

. It was a holding company for the nation's second largest thrift institution and California's fourth largest bank. In 2002, he sold it to Citigroup for $6 billion. He is currently Chairman of the Board of Hilltop Holdings, a bank and insurance holding company. He is also the non-executive chairman of the Boards of Directors of

Freeport-McMoRan Freeport-McMoRan Inc., often called Freeport, is an American mining company based in the Freeport-McMoRan Center, in Phoenix, Arizona. The company is the world's largest producer of molybdenum, is a major copper producer and operates the world's ...

(FCX), the world's largest publicly traded extractor of copper and gold. He has also invested in First Acceptance Corporation, Pacific Capital Bancorp (Annual Sales $13 billion), Golden State Bancorp, FSB (federal savings bank that merged with Citigroup in 2002) Rio Hondo Land & Cattle Company (annual sales $1.6 million), Diamond Ford, Dallas (sales: $200 million), Scientific Games Corp., SWS Group (annual sales: $422 million); American Residential Cmnts LLC. His other investments include the auto-finance company AmeriCredit, Pacific Capital Bancorp and 120,000 acres (486 km²) of

rangeland Rangelands are grasslands, shrublands, woodlands, wetlands, and deserts that are grazed by domestic livestock or wild animals. Types of rangelands include tallgrass and shortgrass prairies, desert grasslands and shrublands, woodlands, sava ...

New Mexico ) , population_demonym = New Mexican ( es, Neomexicano, Neomejicano, Nuevo Mexicano) , seat = Santa Fe , LargestCity = Albuquerque , LargestMetro = Tiguex , OfficialLang = None , Languages = English, Spanish ( New Mexican), Navajo, Ke ...

. Ford has a history of buying banks, re-organizing them, and subsequently selling them at a substantial profit, wit
Golden State Bancorp and then bailed-out Pacific Capital Bancorp
being most notable wins. In a 2010 interview on entrepreneurship with ''

'', he suggested reading ''

The Great Gatsby ''The Great Gatsby'' is a 1925 novel by American writer F. Scott Fitzgerald. Set in the Jazz Age on Long Island, near New York City, the novel depicts first-person narrator Nick Carraway's interactions with mysterious millionaire Jay Gatsby ...

'' by

F. Scott Fitzgerald Francis Scott Key Fitzgerald (September 24, 1896 – December 21, 1940) was an American novelist, essayist, and short story writer. He is best known for his novels depicting the flamboyance and excess of the Jazz Age—a term he popularize ...

, '' The Financier'' by

Theodore Dreiser Theodore Herman Albert Dreiser (; August 27, 1871 – December 28, 1945) was an American novelist and journalist of the naturalist school. His novels often featured main characters who succeeded at their objectives despite a lack of a firm mora ...

, ''

The Bonfire of the Vanities ''The Bonfire of the Vanities'' is a 1987 novel by Tom Wolfe. The story is a drama about ambition, racism, social class, politics, and greed in 1980s New York City, and centers on three main characters: WASP bond trader Sherman McCoy, Jewish as ...

'' by

Tom Wolfe Thomas Kennerly Wolfe Jr. (March 2, 1930 – May 14, 2018)Some sources say 1931; ''The New York Times'' and Reuters both initially reported 1931 in their obituaries before changing to 1930. See and was an American author and journalist widely ...

Too Big to Fail "Too big to fail" (TBTF) and "too big to jail" is a theory in banking and finance that asserts that certain corporations, particularly financial institutions, are so large and so interconnected that their failure would be disastrous to the great ...

Andrew Ross Sorkin Andrew Ross Sorkin (born February 19, 1977) is an American journalist and author. He is a financial columnist for ''The New York Times'' and a co-anchor of CNBC's ''Squawk Box.'' He is also the founder and editor of DealBook, a financial news s ...

and ''

The Big Short ''The Big Short: Inside the Doomsday Machine'' is a nonfiction book by Michael Lewis about the build-up of the United States housing bubble during the 2000s. It was released on March 15, 2010, by W. W. Norton & Company. It spent 28 weeks on '' ...

'' by

Michael Lewis Michael Monroe Lewis (born October 15, 1960) Gale Biography In Context. is an American author and financial journalist. He has also been a contributing editor to ''Vanity Fair'' since 2009, writing mostly on business, finance, and economics. He ...

''.

Philanthropy

He has been a member of

's board of trustees since 1992. He is chair of the board's finance committee and a member of its executive committee, trusteeship committee, committee on athletics and executive committee of the Campaign for SMU. He also currently serves as co-chair of the Dedman College Campaign Committee and on the executive board of

Dedman School of Law Southern Methodist University, SMU Dedman School of Law, commonly referred to as SMU Law School or Dedman School of Law is a law school located in Dallas, Texas. It was founded in February 1925. SMU Law School is located on the campus of its pare ...

. He is a former member of the executive boards of Dedman College of Humanities and Sciences, Cox School of Business, John Goodwin Tower Center for Political Studies and '' Willis M. Tate Distinguished Lecture Series''. He has also served as a regent for the

Texas A&M University System The Texas A&M University System is a state university system in Texas and is one of the state's six independent university systems. The Texas A&M University System is one of the largest systems of higher education in the United States, with a bu ...

. He donated $20 million to build the new football stadium at SMU, named the Gerald J. Ford Stadium. He also donated $10 million to the

Weill Cornell Medical College The Joan & Sanford I. Weill Medical College of Cornell University is Cornell University's biomedical research unit and medical school located in Upper East Side, Manhattan, New York City, New York. Weill Cornell Medicine is affiliated with N ...

Cornell University Cornell University is a private statutory land-grant research university based in Ithaca, New York. It is a member of the Ivy League. Founded in 1865 by Ezra Cornell and Andrew Dickson White, Cornell was founded with the intention to tea ...

Personal life

He is married, and has six children. His wife, Kelli, is an interior designer. They live in

, and have homes in

Manhattan Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five boroughs of New York City. The borough is also coextensive with New York County, one of the original counties of the U.S. state ...

New York City New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the Un ...

and

The Hamptons The Hamptons, part of the East End of Long Island, consist of the towns of Southampton and East Hampton, which together comprise the South Fork of Long Island, in Suffolk County, New York. The Hamptons are a popular seaside resort and one o ...

, a working ranch in

, and a thoroughbred farm in

Kentucky Kentucky ( , ), officially the Commonwealth of Kentucky, is a state in the Southeastern region of the United States and one of the states of the Upper South. It borders Illinois, Indiana, and Ohio to the north; West Virginia and Virginia ...

. In 2012, they sold their Beverly Hills, California property to

Byron Allen Byron Allen Folks (born April 22, 1961) is the founder of the U.S. entertainment company Entertainment Studios which includes The Weather Channel. He is also a television producer, philanthropist, and comedian in his younger years. Notable s ...

. As of September 2022, he is worth an estimated US $2.3 billion.

References

{{DEFAULTSORT:Ford, Gerald J. 1945 births Living people American bankers American billionaires People from Pampa, Texas Southern Methodist University alumni Texas A&M University System regents Texas lawyers