Anschutz made his first mega-fortune in 1982, selling half of an oilfield on the Wyoming-Utah border to Mobil Oil for $500 million ($1.4 billion in today’s money). And one that would never run dry. Forbes write: "James Leprino owns the world's largest mozzarella cheese maker, with $3.5 billion in estimated annual sales. He runs the Coachella music festival, The O2 arena in London and The Broadmoor, the historic 784-room hotel in Colorado Springs. Duane Howell/The Denver Post via Getty Images On the first Forbes 400 list in 1982, Anschutz, then 42 years old, was ranked the seventh-richest person in the US with an estimated net worth of “over $1 billion.” Today, he’s the 40th-richest American. Anschutz has a soft spot for oil, as that’s where he got his start, and fossil fuels form the basis of his estimated $11.5 billion fortune, placing him at No. All Rights Reserved. It wasn’t long before Anschutz bought his father out. 43 from No. Six decades later the Denver billionaire purchased the grand mountainside resort-and the reality has surpassed his dream. Philip Anschutz, worth an estimated $12.7 billion, is now the state's richest person, according to Forbes' May 21 edition. His NHL Kings won the Stanley Cup in 2012 and 2014. Get Forbes’ daily top headlines straight to your inbox for news on the world’s most important entrepreneurs and superstars, expert career advice, and success secrets. Over five decades, Philip Anschutz has built fortunes in oil, railroads, telecom, real estate and entertainment. Philip Frederick Anschutz is an American billionaire businessman who owns or controls many companies in a variety of businesses, including energy, … Philip Frederick Anschutz (/ ˈ æ n ʃ uː t s / AN-shoots; born December 28, 1939) is an American billionaire businessman. Plus another $3 billion to construct a 730-mile direct-current transmission line to deliver that power (enough for 1.8 million homes) to the California grid. Anschutz, 79, has never been a roughneck. Sitting on unseen riches Phillip Anschutz actually got his start in business as an oil wildcatter after taking over his father's fledgling oil company. Philip Anschutz was born December 28, 1939, in Russell, Kansas. If … They got the same thrill risking $1 billion to lay thousands of miles of fiber optics with Qwest Communications in the 1990s. He agreed to set aside the skies above 105,000 eagle-favored acres as off-limits to turbines. Over his 60-year career Phil Anschutz has owned oilfields, railroads, fiber-optic networks, tungsten mines, movie theaters and even a pancake manufacturer. “No. 524 likes. His credits also include the Journey to the Center of the Earth series and children’s film Charlotte’s Web. Philip Anschutz Biography. Fish & Wildlife Service was worried about how many endangered golden eagles the turbines were likely to kill. Cover photograph by Jamel Toppin for Forbes. Adjustments were made so that the “viewshed” from the Teton Reservoir would not be marred by the flickering of turbine blades in the distance. His father was an entrepreneur in the oil industry. But wind was already on his mind. His name appears on medical and educational institutions to because he has donated millions. The 79-year-old’s fortune stems from such diverse sources as oil, railroads, telecom, real estate, and entertainment. REAL TIME NET WORTH as of 9/10/20: $10.1B 2020 Forbes 400 ranking: No. Over the last decade, turbines have improved in size, power and efficiency. He produced three Chronicles of Narnia films, which grossed over $1.5 billion worldwide collectively. Anschutz has bankrolled the first $400 million out of his own pocket and is looking for equity partners or to raise debt to finance the rest. And the U.S. This could yield a bigger payday than the $2.5 billion he made in 2010 selling other oilfields. © 2021 Forbes Media LLC. He’s 5 feet 9, slim, well coiffed and sounds like the actor Lorne Greene (more Battlestar Galactica than Bonanza) as he explains that his next—and perhaps last—big investment will not be in oil at all. Philip Anschutz is the wealthiest Coloradan, according to a new Forbes report. His ranking fell to No. “But I knew the world was moving from voice-by-the-minute to data-by-the-megabyte.” He sees the same kind of bet in the transmission line that will carry wind power across four states, 16 BLM districts and the properties of 378 landowners. The only time he thought about selling the land and walking away was when the pro-coal factions of the Wyoming legislature succeeded in pushing through a new wind-generation tax of 0.1 cent per kilowatt hour—the first in the nation. All Rights Reserved, This is a BETA experience. He reinvested in mining and railroads and built the Southern Pacific line, which in 1996 he sold to Union Pacific for $5.4 billion, valuing his shares in the new company at more than $900 million. He links his fingers together, half-chewed cigar in hand, to illustrate. He owns the L.A. Kings NHL team, nearly a third of the NBA’s Lakers, and the Staples Center, where they both play. Here, through the mountain gap that pioneers on the Overland Trail took on their way west, came big, steady winds, averaging around 20 mph. Instead, fossil-fuel king Phil Anschutz is building America’s biggest wind farm. O ver his 60-year career Phil Anschutz has owned oilfields, railroads, fiber-optic networks, tungsten mines, movie theaters and even a pancake manufacturer. A Kansas native who has lived in Denver for the past 42 years, ... Forbes.com puts … There were negotiations with the Audubon Society and the Wyoming Game & Fish Department over how much land to set aside for sage grouse. If America is dedicated to decarbonizing its energy sources, it makes sense to utilize the windiest places with the fewest people. In 1967, a crew did hit oil but lost control of the well, which ignited into a raging inferno. Philip Anschutz's House (Google Maps). “You know how many customers I had signed up? Tracking energy innovators from Houston, Texas. In late 2010 sold $3 billion worth of Marcellus shale gas and Bakken shale oil fields. We’re doing it to make money.” Though he believes excess carbon dioxide in the atmosphere “is a problem,” it’s “not as extreme as some would think.” What’s extreme is California’s new law mandating the transition to 100% renewable energy by 2045. 2012 net worth: $7.0 billion 2011 net worth: $7.5 billion Philip Anschutz has made fortunes in oil, railroads and telecom, but his biggest bets are in entertainment. He’s the chairman of Anschutz Entertainment Group, which owns the wildly popular Coachella Valley Music and Arts Festival. Read this exciting story from Forbes October 25,2016. Anschutz is an ordinary-looking 77-year-old resident of Denver who happens to be one of the richest men in America, and a most enterprising one at that. Philip Anschutz (1939–) is a Denver-based businessman and Colorado’s richest person, with a wealth estimated at more than $10 billion.He has garnered comparisons to Gilded Age financier J. P. Morgan for his success across a wide range of businesses—oil and gas, railroads, telecommunications, sports, and entertainment—and to Warren Buffett for his relatively … The Bureau of Land Management required a voluminous Environmental Impact Study. It will cost $5 billion to erect 1,000 turbines at the Chokecherry and Sierra Madre Wind Energy Project on Anschutz’s 320,000-acre Overland Trail Ranch near Rawlins, Wyoming. Philip Anschutz, 75, also saw his net worth take a slight dip to $10.9 billion on this year’s list from $11.1 billion last year. In some ways, the permitting slog was a blessing in disguise. 41 on The Forbes 400. Philip Frederick Anschutz is an American billionaire businessman who owns or controls many companies in a variety of industries, including energy, railroads, real estate, sports, newspapers, movies, theaters, arenas and music. Philip Anschutz (Philip Frederick Anschutz) is an American billionaire businessman who owns and controls many companies in his businesses, such as energy, railroads, real estate, sports, newspapers, movies, theaters, arenas, and music. Anschutz got his start in oil and gas, has made a habit of getting in and out of new plays early. Philip Anschutz and his wife in the 19 80s. Throughout a lifetime love affair with unique businesses, Kansas-born Anschutz has built everything from railroads to hockey teams. “I had come out of the traditional energy business and thought, what’s all this?” Wind turbines looked to Anschutz like any other natural resource business—kind of like an upside-down oil well, sucking energy out of the air. © 2021 Forbes Media LLC. Worth: $7 billion Forbes Rank: 133 Team: Los Angeles Lakers, Los Angeles Kings Anschutz’s sports empire includes the MLS along with arenas like the Staples Center in … His father, Fred Anschutz, was a renowned oilfield wildcatter who made and lost several fortunes." Philip Anschutz attends the Forbes Media Centennial Celebration at Pier 60 on September 19, 2017 in New York City. “People thought we were absolutely stupid, but we did it,” Miller says with a laugh. “The wind regime extends beyond our ranch to the whole gathering basin,” Anschutz says. He owns and controls many companies. Anschutz grew up in Kansas … Anschutz has long been familiar with the ferocity of Wyoming winds. He bankrolled the Chronicles of Narnia movies and was backing Michael Jackson’s comeback tour when the pop star died. Anschutz is the billionaire owner of Anschutz Entertainment Group (AEG). Forbes reporter since 1999. A self-made billionaire, Anschutz first made his fortune in oil and railroads before moving into telecom; he owns about 38% of broadband provider, Qwest Communications. Not so fast. Unwrapping a fresh box of Swisher Sweets cigarillos, he explains the favored attributes of the 500,000 acres his oil company has been exploring in Wyoming’s Powder River Basin, where his team has drilled and fracked enough wells to be convinced they are sitting on more than a billion barrels. About Philip Frederick Anschutz Philip Anschutz has an estimated net worth of $12.1 billion as of April 2019. Today, Anschutz is worth an estimated $US11.4 billion, according to Forbes. Anschutz says the hardest work is already over. (The footage was used in the John Wayne flick Hellfighters.). Is he doing this to greenwash his reputation? “We’d never seen a project of that scale before,” says Brian Lovett, administrator of Wyoming’s industrial siting division. He owns the NHL's Los Angeles Kings and a … Philip Anschutz. He intends to profit from it. Those turbines have to go somewhere. He asked Bill Miller, then president of his oil company, to find the windiest land in the nation, which turned out to be in Wyoming in the vicinity of the Overland Trail Ranch. "Philip F. Anschutz was born in Russell, Kansas, in 1939 (some sources say it was Grand Bend). Subscribe. It's a company he turned around, and then sold, only to get right back into the oil game by starting his own oil company Anschutz Exploration Co. The just-released 2020 edition of the Forbes 400, which tracks the wealthiest people in America, ... Philip Anschutz. [-], © 2021 Forbes Media LLC. For wind, which makes up 11% of supply, it’s been paying 3 cents per kWh, according to the Department of Energy. Famous oil well firefighter Red Adair requested $100,000 to battle the blaze, and quick-thinking Anschutz saved his company by getting Universal Pictures to pay that sum for the filming rights. You may opt-out by. It’s fun to do things other people think can’t be done, Miller says, recalling the oil pipeline that he and Anschutz built from Bakersfield, California, through Los Angeles to the port of Long Beach. This story appears in the October 31, 2019 issue of Forbes Magazine. Anschutz and Miller sketched plans for a wind farm with at least 1,400 turbines, figuring permitting would take about four years and they’d have it built by 2015. Factor in federal renewable-energy-investment tax credits (a $2.8 billion value over the first ten years) and Anschutz’s costs should drop to 2 to 3 cents per kWh. Content is king In addition to the energy-infused riches brought to him by his landholdings, Anschutz has diversified his investments throughout the years, and more recently has spent a gr… Anschutz paid for vegetation surveys, employed ornithologists, deployed avian radar, mapped eagle flights. “I want to see it built,” he says. Zero,” Anschutz says, holding up his fingers in an “o” sign. In 2004, he purchased the parent company of the Journal Newspapers, which under Anschutz's direction became the right-wing tabloid Washington Examiner. After Anschutz slogged through a decade of permitting, construction is under way. All Rights Reserved. “My wife calls it a psychosis,” he says with a laugh.
As a child, Philip Anschutz had the mile-high ambition to own the lavish Broadmoor hotel in Colorado. But it's clear that Philip Anschutz is a dealmaker of the first order. Fresh out of college in the early 1960s, he started working at his father’s Circle A drilling company, which owned a handful of rigs in the vast, wind-scrubbed lands of northern Wyoming. The state's richest man according to the magazine is Charles Ergen, chairman of Dish Network Corp. with a … $11.4b, Anschutz Exploration Co, Southern Pacific, Qwest Communications If … Anschutz started off investing in oil fields and railroads, but is now a big name in sports and entertainment. Anschutz's ancestors came from Russia and moved to America where they became successful in business. 40 in 2014. America’s wind capacity will grow 60% in five years from a current 100,000 MW, according to consultancy Wood Mackenzie. Anschutz is presently worth $11.8 billion, according to Forbes magazine. Anschutz loved riding his railroad around California, and he marveled at the wind farms built in the Sierra Nevada passes. According to Lazard, the all-in cost of generating a kilowatt-hour of wind power, without subsidies, has fallen from 13.5 cents a decade ago to 4.3 cents. California gets about a third of its energy from renewables and 40% from fossil fuels. The permitting process culled a quarter of the planned turbines—in the windiest area, there will be 157 instead of 325. 50 This story appears in the October 31, 2019 issue of Forbes Magazine. The Oregon-California Trails Association wanted access to the wagon tracks still etched into the landscape. “They were made to jump through a lot of hoops.” Some sour grapes remain—historic preservationists hope that Anschutz will someday allow tourists to walk on the wagon ruts that cross his land. Anschutz is an ordinary-looking 77-year-old resident of Denver who happens to be one of the richest men in America, and a most enterprising one at that. It was a rare D.C. visit by Philip Anschutz, ranked by Forbes as the 37th richest man in America. Forbes Magazine's Billionaires List Includes 7 Coloradans (PHOTOS) Colorado has seven billionaires on Forbes Magazine's annual Billionaire list this year. Just don’t expect him to give up control. He produced three Chronicles of Narnia films... [+], Anschutz started off investing in oil fields and railroads, but is now a big name in sports and entertainment. Workers have built 95 miles of work roads and prepped 115 pad sites for the first phase of turbine installation, which could begin in 2020 and finish in 2025. Anschutz doesn’t just love unique businesses—he’s obsessed. “If we can’t build it here, we can’t build anywhere.”. Even little numbers add up when you plan on putting out 12 billion kWh per year. Anschutz’s long-term bet is that as tax credits expire and California’s 2045 target date approaches, wind power pricing will go up. Philip Anschutz is an American businessman who's worth an estimated $11.4 billion, according to Forbes. Left: Patrick welsh for forbes; Right: National Renewable Energy Laboratory. (Shutterstock) “I started out just curious,” he says. Anschutz started off investing in oil fields and railroads, but is now a big name in sports and entertainment. The best part, he says, is the way that his acreage “interfingers” with the holdings of bigger oil companies, which might like to buy it.
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