What Is Philip Falcone’s Net Worth? (Recent Reports)
|July 14, 1962
|60 Years Old
|Minnesota, United States
|Source of Income
Philip A. Falcone is an American businessman. He is the founder of LightSquared and Harbinger Capital. His net worth is presumed to be $9 million in 2023.
Since 2009, he has been named to Forbes magazine’s The World’s Billionaires list.
Do you want to know more about Falcone? If yes, keep reading this article!
Philip Falcone Biography/Wikipedia/Wiki
|Philip A. Falcone
|July 14, 1962
|60 Years Old
|Spouse / Girlfriend
How Was Philip Falcone’s Early Life And Education?
Philip Falcone’s birthdate is July 14, 1962. His birthplace is Chisholm, Minnesota, America. He grew up in a three-bedroom house with nine siblings.
He received financial aid to attend Harvard University, where he earned a bachelor of arts degree in Economics in 1984.
He was a standout hockey player growing up in Chisholm. He later played varsity hockey at Harvard.
He then went on to play professionally for the Malmö Redhawks, a Swedish professional hockey team.
His career was cut short after one season due to a leg injury.
How Did Philip Falcone Start His Career?
Falcone began his career at Kidder, Peabody & Co. in 1985.
He was also employed by Wachovia.
In addition, he worked as a senior high-yield trader at First Union Capital Markets in Charlotte, North Carolina.
He was president and CEO of AAB Manufacturing Corporation from 1990 to 1995.
From 1997 to 1998, he was the head of High Yield trading at Gleacher Natwest, and from 1998 to 2000, he was the head of High Yield trading at Barclays Capital.
He co-founded Harbinger Capital with Raymond J. Harbert in 2000.
He became a minority owner of the NHL’s Minnesota Wild hockey team in 2008 when he purchased a 40% share in the organization.
Falcone and Harbert held 20% of The New York Times through Harbinger Capital in 2009. He became the company’s majority owner the following year, but Harbert remained an investor.
He is a member of the Kissinger Institute in China and the United States’ founding council.
He has also donated to the American Museum of Natural History.
He was named one of the 40 highest-earning hedge fund managers by Forbes in February 2013.
Falcone said on November 25, 2014, that he would stand down as CEO and chairman of Harbinger Group effective December 1, to focus on his other company, HC2 Holdings.
Falcone and Harbinger Capital were charged with fraud by the United States Securities and Exchange Commission in 2012.
He had to enter into a deal with the commission in 2013 to pay a total of $11.5 million of his own money to settle the allegations after admitting to breaking the law.
His ventures also included the telecommunications business LightSquared, which planned to build a wireless network to compete with AT&T and Verizon, but the project was canceled due to concerns that it might interfere with GPS signals.
Philip Falcone’s Personal Life
Falcone married Lisa Velasquez in 1997. She is involved in charitable initiatives such as the American Museum of Natural History and serves on the board of the New York City Ballet.
Liliana and Carolina, their twin daughters, were born in February 2005.
The pair reportedly gave $10 million to New York City’s High Line project in 2009.
Falcone built a house in Sag Harbor, New York, in 1999, which he sold for $1.57 million in 2005.
He paid $49 million for a house on Manhattan’s Upper East Side that had previously been owned by Jeremiah Milbank and afterward by Bob Guccione.
He also paid $39 million for a home in Saint Barthélemy in 2008.
How Does Philip Falcone Make His Money?
The major sources of income through which Falcone makes his money are:
- Earning as a businessman
- Earning through hedge fund investments
Philip Falcone’s Social Media Accounts
Major Career Highlights
- Falcone was president and CEO of AAB Manufacturing Corporation from 1990 to 1995.
- He co-founded Harbinger Capital with Raymond J. Harbert in 2000.
- He is a member of the Kissinger Institute in China and the United States’ founding council.
- He was included in the 40 highest-earning hedge fund managers list by Forbes.
Success Lessons From Philip Falcone’s Life
- Work hard.
- Give back to society.
- Stay focused.
Philip Falcone is a wealthy American businessman.
He is the founder of LightSquared and Harbinger Capital.
As per recent updates, the net worth of Philip Falcone is $9 million…!
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Frequently Asked Questions
These are the questions asked about Falcone:
Who Are Philip Falcone’s Parents?
Information regarding Philip Falcone’s parents is not available.
Who Is Philip Falcone’s Wife?
Philip Falcone’s wife is Lisa Velasquez.
Does Philip Falcone Have Children?
Yes, Philip Falcone has twin daughters named Liliana and Carolina.
Where Does Philip Falcone Live?
Philip Falcone currently lives in New York.
Where Did Philip Falcone Study?
Philip Falcone earned a bachelor of arts degree in Economics from Harvard University.
PS: This is not the net worth of Falcone. The data given here has been collected from various credible sources and may vary with time.