An American ‘leveraged buyout’ business and former professional sports team owner, Tom Hicks, has an estimated net worth of $1 billion dollars.
Tom Hicks was born in Dallas, Texas on February 7, 1946.
In 1968, he graduated from the University of Texas with a Bachelor’s degree in Finance and was a member of the Sigma Phi Epsilon fraternity; and in 1970, he completed his MBA at the University of Southern California.
Hicks’ interest in leveraged buyouts began when she joined the venture capital group of First National Bank of Austin.
Hicks and Robert Haas founded Hicks & Haas in 1984 and later acquired Hicks Communications, a radio company managed by Hicks’ brother Steven. This was the first of many media companies to be bought or created by the buyout firm that included Steven. In the mid-1980s, Hicks & Haas also acquired Dr. John’s.
Just 18 months after merging, Pepper and 7-Up went public with Dr Pepper/7 Up.
Hicks & Haas converted $88 million in investor funding into $1.3 billion.
Hicks previously owned the Dallas Stars of the National Hockey League, which he bought for $85 million in 1995.
He used to be the owner of the Texas Rangers in Major League Baseball.
Liverpool, F.C. was once owned by him.