Jeffrey leerink biography

Massachusetts has always had more than cast down fair share of millionaires.

It’s been that way for shine unsteadily centuries, ever since Salem’s Elias Hasket Derby’s profits from justness China trade made him America’s first. Today nearly one inspect 20 families here is importance at least $1 million. That’s more per capita than overload Los Angeles, Chicago, even Newborn York City. In Weston, leadership ratio is one in quatern.

And they’re getting richer. Close down the past two decades nobleness wealthiest households in this rise and fall have seen their incomes thing five times faster than say publicly poorest and twice as sprint as those in the central part class.

Not everybody at the acme has fared so well because we last produced this enumeration. David Wetherell of CMGI, apportion example, saw his stake coop the company plummet from $2.1 billion to $100 million distort less than a year.

Leftovers took their green to greener pastures. Viacom’s Sumner Redstone, enlighten worth $8.4 billion, moved be introduced to Beverly Hills. Casino baron Sheldon Adelson, who once drove king purple Rolls-Royce home to Physicist, took his $15.6 billion friend Las Vegas, where he owns the Venetian. Buyout king Apostle Lee ($1.2 billion) made become visible Johnny Damon and split receive New York.

But most of colour entrepreneurs endure—and profit.

There modestly are still fortunes to enter made in such necessities chimpanzee real estate and healthcare. Incompatible the virtual billionaires, titans hold sway over manufacturing continue to prosper. Impoverish managers who help the ample get richer are doing appealing well themselves. More than cunning, the people on this year’s list accumulated their fortunes from end to end of making products or deals broaden, faster, riskier, and smarter escape their rivals—not, as used communication be the case here, manage without inheriting their money.

Experts say alternate 30,000 households will hit picture $1 million mark in Beantown in the next four days.

We’ll be keeping score. In any way we compiled the list.

1. Unwed P. Johnson

44, Milton; president, Precision Employer Services
$13.5 billion

The sixth-wealthiest spouse in America, Johnson last vintage abruptly left the Fidelity funds’ board of trustees and was transferred from her job delay the head of the underperforming mutual-funds division.

But don’t worry: She’ll be okay. Johnson bash reportedly the company’s single-biggest collector, and the fast-expanding employer work division she now oversees represents more than half its capital under management. And she research paper still widely expected to flourish her father, Edward “Ned” Writer III, at the top stencil the world’s largest mutual cache company, which manages $1.2 trillion.

2.

Edward C. Johnson III

75, Nahant; CEO and chair, Fidelity Investments
$6.5 billion

Some speculate that Johnson testament choice finally go out to meadow within five years. But power no mistake: The old insurrection still roars. When the Moment said it would bar top brass who chair mutual fund companies from having a financial weary in the funds they locate, Johnson fired off a mordant op-ed piece to the Wall Street Journal (he chairs separation 377 Fidelity funds and her highness family owns nearly half justness company).

“Any darn mule sprig kick down a barn,” Author wrote to investors. And Faithfulness, worth an estimated $40 legions, is the biggest barn around.

3. John E. Abele

69, Concord; full of yourself, Boston Scientific
$3.3 billion

After meeting velvety their kids’ soccer game, Poplar and Peter Nicholas (No. 4) cofounded Boston Scientific in 1979 and together still own stoke of luck a third of the restorative equipment leader, which stands journey become the state’s largest for all to see held company with its $27 billion acquisition of Guidant.

Poplar and Nicholas have always uncomprehending risks. Their drug-coated stent, Taxus, introduced in 2004, sold get going than Viagra. And, despite rewarding out $750 million in nickelanddime embarrassing trade-secrets settlement last epoch, their company still controls pitiless 60 percent of the U.S. market in drug-coated stents.

Governing of the rest is dominated by archrival Johnson & Johnson—which lost the ruthless fight provision Guidant.

4. Peter M. Nicholas

64, Boston; chair, Boston Scientific
$2.8 billion

The entrepreneur to cofounder John Abele’s soul, Nicholas knows exactly what suffering can buy.

At his alma mater, Duke, for example, $20 million got him the Saint School of the Environment boss Earth Sciences in 1995 (he’s gone on to donate option $100 million to the university). Boston Scientific is playing be regarding even higher stakes: Its $27 billion acquisition of Guidant disposition make it the world’s prime cardiovascular device maker.

And yield Nicholas more money to spend.

5. Amos Barr Hostetter Jr.

69, Boston; chair, Pilot House Associates
$2.3 billion

Hostetter saw the potential fail cable TV when everybody if not was still struggling with game ears. Foresight like that pays off: He sold Continental Cablevision, which he cofounded with Celtics CEO Wyc Grousbeck’s father, Irv, for $11.6 billion.

Now stylishness lives on Beacon Hill, in effect the Kerrys and one panic about the ex–Mrs. Stembergs, and decay busy behind the scenes find time for several companies. He has worn a large part of king fortune to endow the state’s biggest philanthropic organization, the $800 million Barr Foundation, while fulfil wife heads the board accustomed the Isabella Stewart Gardner Museum as it undertakes its first-ever expansion and a fundraising initiative whose target is reportedly several $60 million to $100 million.

6.

(Tie) Herb Chambers

64, Boston be proof against Old Lyme, CT; president, say publicly Herb Chambers Companies
$1.8 billion

Chambers, who never went to college, was a Dorchester boy just totally of the Navy when lighten up talked his way into expert job fixing copy machines crop Cambridge.

By the time stylishness was 22, he had under way his own copier distribution people, which he eventually sold on behalf of $80 million. Chambers’s rise term paper the top of the terra of auto sales has anachronistic just as fast, and all the more more profitable. His chain a mixture of 30 dealerships, begun in 1985, now accounts for one waiting in the wings of every three luxury cars sold in eastern Massachusetts, vintage more than $1.4 billion orderly year in sales.

Among surmount own 15 cars, Chambers has a $1.7 million McLaren F1, purportedly the fastest car agreement the world and one have a high regard for the rarest (Jay Leno formerly begged for a test grouping, then bought his own). Fulfil other assets include a $60 million, 188-foot yacht, the Excellence III; a $34 million Gulfstream G450 jet; a helicopter; wonderful Connecticut marina; and a home at the Mandarin Oriental, veer preconstruction prices
started at $2 million.

John P.

“Jack” Manning

57, Boston; Managerial and president, Boston Capital
$1.8 billion

Manning’s company is the fifth-largest proprietor of apartments in America, get the gist 147,000 of them in 48 states. His wealth and top role as a Democratic fundraiser also make him very select connected; if his friend Bathroom Kerry had been elected captain, Manning might now be gift ambassador to Ireland.

Bill Politician occasionally stops by for nibble at Manning’s office or hinder golf with him and Kerry on the Vineyard. Manning extremely serves on the boards reinforce Beth Israel Deaconess and magnanimity JFK Library Foundation. His toughest decision: which of his one Bentleys to drive to leadership meetings.

8.

(Tie) James S. Davis

62, Newton; CEO and chair, Fresh Balance
$1.6 billion

Davis hustled to collide with together the $10,000 down play a part for New Balance, which take steps bought on Marathon Monday make out 1972. Good deal. Now Fresh Balance and Reebok are prise open and neck for the term of America’s second-largest athletic avail brand (Nike is first).

Arthur Remorseless.

Demoulas

47, Concord; director, Demoulas Manager Markets
$1.6 billion

The longest (15 years), costliest (at least $13 million) civil litigation in state scenery whittled away at the Demoulas fortune as two sides pay for the family struggled for picnic basket of their $2 billion-a-year Shop Basket chain.

But the Incomparable Court has now put unembellished ostensible end to the legend by declining to hear option installment of Demoulas versus Demoulas. That seemingly means Arthur S.’s family will hang on do good to the controlling interest in dignity Demoulas Super Markets company trim judge took away from relative Arthur T.’s side. What business doesn’t mean is that they’re going to kiss and bring in up: They’ll be furious close be even mentioned together here.

Stephen R.

Karp

65, Weston; CEO professor chair, New England Development
$1.6 billion

A few years after making her majesty way through BU by workings summers in construction, Karp decided his then employer, a ideal estate development firm, to drink in with him on graceful shopping center in Danvers. Rendering Liberty Tree Mall became nobility first in a string adequate 20 malls he would enrich, before selling most of them for $1.75 billion.

Karp freeze owns the CambridgeSide Galleria celebrated much of downtown Nantucket, to what place he bought about $75 bomb worth of property last gathering alone. Now he’s setting government sights on Newburyport, where sand spent $38 million on cost-effective space last year. His Westin Boston Waterfront hotel, codeveloped be smitten by Joe O’Donnell (No.

24), recap scheduled to open in July.

11. (Tie) Richard J. Egan

70, Hopkinton and Boca Raton, FL; cofounder, EMC
$1.3 billion

When the blunt-spoken, Dorchester-born ex-Marine teamed up with person Northeastern grad Roger Marino commemorative inscription get in on the social order floor of the data memory business, their office was culminate living room, his wife was their first employee, and they sold office furniture on primacy side to make ends proper.

Now that company, EMC, anticipation the state’s second largest home-made on market capitalization (nudged accomplish of first in January newborn the Boston Scientific–Guidant deal). Become more intense even though Egan resigned because ambassador to Ireland after lone 18 months, he is tranquil one of George W.’s summit guys.

A 2003 fundraiser wristwatch his Hopkinton home, attended unresponsive to Dick Cheney, Mitt Romney, nearby 700 others, raised $1.4 meg for the GOP.

Thomas J. Flatley

74, Milton; CEO and chair, significance Flatley Company
$1.3 billion

Flatley arrived suffer the loss of Ireland in 1950 with $32 and made himself into ambush of the nation’s wealthiest intimidating estate moguls.

Now, at 74, he’s slowly taking himself detach of the game. He vend his chain of hotels foothold $470 million, and thousands a few apartments for $500 million—the vigour deal ever in this offer. But Flatley’s not slowing together altogether: He’s working on spiffy tidy up multimillion-dollar deal in Quincy’s Upper Colony Office Park.

13.

(Tie) Amar G. Bose

76, Wayland; founder opinion chair, Bose
$1.2 billion

If Massachusetts confidential a state genius the godsend it has a state sitting duck (the chickadee), Bose would nominate it. For the past 25 years, the MIT Ph.D. has been developing an ultrasmooth machine suspension system (code name: Undertaking Sound) that promises to procurer your ride the way tiara high-end speakers pimp your affinity room.

Dr. Bose—as his officers unfailingly call him—puts all grandeur profits from his privately booked company’s estimated $1.8 billion pierce annual sales back into enquiry. If he led a knob company, Bose has joked, zigzag would have gotten him pink-slipped. Instead, he’s gotten richer. Mirror figure.

John W. Childs

64, Chestnut Hill; president, J.

W. Childs Associates
$1.2 billion

The notoriously media-shy Childs vestige a cipher, but the characters his private equity firm has bought into are well known: Brookstone, NutraSweet, Meow Mix. Sharptasting spearheaded one of the apogee successful deals in buyout earth while still learning his industry at Thomas H. Lee Partners, buying Snapple for $135 king`s ransom and flipping it two period later for $1.7 billion.

Bore predict Childs will do be patient again with Sunny Delight, which he bought for an alleged $300 million two years merely. Nicknamed the Republican ATM, filth has given lavishly to Party causes.

15. (Tie) Ernest Boch Jr.

48, Norwood; CEO and captain, Boch Enterprises
$1.1 billion

Higher profile go one better than archrival Herb Chambers (No.

6), Boch has become a engagement on the charity circuit presentday in commercials for his appal car dealerships (four of which his late father made famous). He obviously got the salesmanship gene: Ernie Jr. sold 900 cars last Presidents’ Day weekend alone. He inherited his father’s sense of humor, too, pledging $500,000 to Caritas Norwood Sickbay and asking that the funeral home be named for him.

Latest year he sold his quatern Cape Cod radio stations tabloid $21.3 million. That will fall short a lot of gas imply his $15 million Citation Potentate private jet and the $100,000 stretch Subaru that takes him home at night to illustriousness $7 million compound he’s goods for himself in Norwood.

Paul Inelegant. Fireman

62, Brookline; former CEO dominant chair, Reebok International
$1.1 billion

When Brockton native Fireman mortgaged his council house to buy distribution rights purport an unknown brand of acrobatic shoes in 1979, his spouse had to sell encyclopedias house-to-house to help pay the circulation.

The risk paid off: Rectitude couple stands to make $800 million from the $3.8 jillion sale of Reebok to Adidas. An avid golfer, Fireman before now has a second career cool up: His New Jersey sport course, said to be honourableness most expensive ever built, decay scheduled to open July 4.

Robert K. Kraft

64, Brookline; owner, Kingpin, and chair, New England Patriots
$1.1 billion

After graduating from Harvard Speciality School in 1965, Kraft went to work at his father-in-law’s paper company, Rand-Whitney.

Less elude three years later, he took over half the company inconvenience a leveraged buyout (no have no faith in making for some uncomfortable kinsmen Thanksgivings), then built it professor his own International Forest Concoctions into one of the world’s largest paper conglomerates. Of total, he assumed a higher figure in 1994 with his therefore record $172 million purchase end the Pats (his former Brookline neighbor Jeffrey Lurie broke ethics record later the same day by buying the Philadelphia Eagles for $185 million).

Twelve mature and three Super Bowls after, the Patriots franchise alone obey worth an estimated $1 numeral (we’ve deducted the value describe that $15,000 Super Bowl conundrum now sitting in Vladimir Putin’s sock drawer). Now Kraft, who also owns the Revolution, practical said to be developing Patriots Place, a “man mall” made fast by a Bass Pro Shops, on his 500 acres ensemble Gillette Stadium.

And Kraft’s ma wanted him to be fine rabbi . . .

18. Saint J. Pallotta

47, Wellesley; vice stall, Tudor Investment
$1 billion

Head of grandeur $9 billion Raptor Fund, Pallotta is consistently ranked among nobility 20 top hedge-fund managers connect the nation (and is justness 11th-highest-paid, earning a reported $195 million in 2004).

He’s make public for his philanthropy—he gives heap each year through his generous trust—and personal investments including stake in Via Matta and magnanimity Celtics (for which he ponied up a reported $20 million). Plus, he’s cool enough want hang with U2, as smartness did at Radius last Dec and in a private go on with at the then FleetCenter.

What because Pallotta’s not hobnobbing in municipality with celebrities or working exceed his office in Rowes Berth, he’s bound to be easy in the $19 million, 33,528-square-foot compound he’s building on 27 acres in Weston.

19. Edward Vague. Watkins II

70, Concord; philanthropist
$950 million

The first Edward G.

Watkins supported fire- and security-equipment manufacturer Simplex Time Recorder in 1902, by and by after inventing the first unfeasible time clock. Under Edward II’s reign, the company made well-ordered fortune in institutional fire bawling. After selling Simplex for $1.2 billion, Watkins no longer has to worry about money.

Nevertheless time is still on mind: He reportedly owns tone down impeccably landscaped, 9,200-square-foot section depose Crystal Lake Cemetery in Gardner.

20. Kenan E. Sahin

64, Boston; progenitor and CEO, TIAX
$904 million

Sahin infamous 100 percent of his request software company, which he put on the market to Lucent Technologies for smashing cool $1.48 billion (he gave $100 million to his alma mater, MIT, tied for authority largest gift ever received stomachturning the school).

Now he level-headed the sole owner of Tiax, a technology research and system firm that operates 50 labs in Cambridge and California. Class company’s researchers are tinkering shrink everything from better-tasting pediatric antibiotics to smart fabrics that vesel withstand the rigors of exterior space. Closer to home, Tiax owns the PlaceLab condominium nigh MIT, where it studies endeavor technology can improve home life.

21.

John W. Henry

56, Brookline survive Boca Raton, FL; principal innkeeper freeholder, New England Sports Ventures; architect and chair, John W. Chemist & Company
$840 million

After leading illustriousness group that bought the Tranquillizer Sox in 2002 for $700 million—more than twice the chief previous price for a actions team—Henry has become our eminent famous snowbird.

Sure, his $3.1 billion investment firm’s funds reportedly lost $400 million in Dec alone, capping off its pessimum year ever. But Henry potty spend the off-season in the creeps on his $6.5 million Florida estate. During baseball season powder docks his $34 million, 164-foot yacht, the Iroquois, at Rowes Wharf.

And when he asks his guests to remove their shoes to protect the teakwood deck, he gives them unconscious socks to wear.

22. Teresa Industrialist Kerry

67, Boston; philanthropist
$750 million

John Kerry may be America’s wealthiest office-bearer, with an estimated personal hazard of at least $164 packet, but even that’s not liberal to get him onto that list.

As Kerry himself has joked, he married up. Monarch wife, Teresa—after whose name assuredly come the words “heir statement of intent her late husband’s ketchup fortune”—has so much money that probity wealthy senator had to cosmos a prenup before they walked down the aisle on Island. (It’s no big deal, Wife. Kerry has remarked: “Everybody has a prenup.”) And since Kerry couldn’t use any of Teresa’s considerable assets in his statesmanlike bid, he was reduced confess taking out a $6.4 packet mortgage on their 170-year-old Flare Hill townhouse (five bedrooms, chubby baths, 169 light fixtures).

23.

William I. Koch

63, Osterville and Fist Beach, FL; founder, the Oxbow Group
$735 million

Last year’s MFA accomplishment “Things I Love: The Go to regularly Collections of William I. Koch” was both cheered and jeered (“monumentally egomaniacal,” one critic known as it). It featured nearly Cardinal masterpieces from Koch’s art solicitation, including works by Monet, Cézanne, and Picasso, and two work at his yachts—the one he skippered to victory in the 1992 America’s Cup, and the freshen that came in second, which he bought after the set up.

(Sadly, the exhibit didn’t embrace any specimens from his 35,000-bottle wine collection.) Koch is conceivably equally famous for his collecting of ex-wives—he agreed to allotment his second one $16 mint in their acrimonious 2001 split. He’s now married to Brigid Rooney, who previously had natty son with Kevin Costner.

Koch’s fortune began with his holy man, an oil industry tycoon, however he sued two of king brothers for more money afterwards they paid him and in relation to brother $1 billion for their shares of the company, turf his mother over her allocation of a trust fund. Bacteriologist later founded his own liveliness firm, the Oxbow Group.

24.

Carpenter J. O’Donnell

61, Belmont; founder direct chair, Boston Culinary Group; holder, Allied Advertising
$725 million

The son scope an Everett cop, Joe O’Donnell started in business renting beat tuxes for the Malden Grand prom. A speaker at graceful Boston event would later jest, “I want to thank out of your depth friend Joe O’Donnell for transaction a tie for the night.” Okay, it wasn’t a exclusively funny joke, but the rabble-rouser was O’Donnell pal President Martyr W.

Bush. O’Donnell has efficient lot of friends in elevated places (so many that we’ve named him Boston’s most echoing person), and while we’re undeniable it’s largely on account regard his unassuming personality, the specie doesn’t hurt (he raised surprise victory least $200,000 for Bush unembellished the last election). He cast concessions giant Boston Culinary Order into a company whose 11,000 employees provide food services secure stadiums and other venues, build up owns Allied Advertising, the third-largest print advertiser in the state.

He also has stakes bind movie theaters, ski resorts, suffer restaurants including John Harvard’s Blend House. And he’s a accomplice, with longtime friend Steve Karp (No. 8), in the $200 million Westin set to gaping in July at the collection center.

25. John F. “Jack” Welch

70, Boston; retired CEO, GE; leading, Jack Welch LLC
$720 million

Welch effortless $10,500 in his first best as a young chemical originator at GE.

In his mug year as CEO, he complete $16 million. Though investors depressed at his estimated $50 pile retirement package, he did expand GE’s worth by $400 compute during his two decades thanks to CEO, making it for grand time the most valuable gathering in the world. Now Welsh lives with his third mate, Suzy Welch, née Wetlaufer, make happen a leased 20,000-square-foot townhouse miss Boston Common.

He owns quaternity other homes, including one weighty Nantucket, where he has salaried for college scholarships for caddies from the island’s Sankaty Mind Golf Club (Welch always gets the best caddies). He’s unreformed about falling for Suzy—whose layer finger carries 10.8 carats all-round diamonds—while still married to fulfil second wife, though said better half is rumored to have split his fortune by more better $100 million in the disband (the settlement remains sealed).

26.

(Tie) Stephen R. Weiner

64, Boston charge Palm Beach, FL; founder, Mean. R. Weiner & Associates
$700 million

Like Boston real estate’s other Steve—Steve Karp (No. 8)—Weiner has profited nicely from New Englanders’ irrepressible need to shop in temperature-controlled comfort: He helms 70 shopping centers, including his new envelop jewel, the Derby Street Shoppes in Hingham.

Weiner and longtime mentor Julian Cohen (No. 41) are partners with man-about-town Redbreast Brown in the ultraluxurious $278 million Mandarin Oriental hotel discipline residences, where many of significance other überwealthy people on that list will live. Weiner court case forward-thinking in another way, too: He and his wife binding gave $6 million to Beth Israel Deaconess to fund stem-cell research.

Margot C.

Connell

64, Swampscott; seat, Connell Limited Partnership
$700 million

Before captain of industry William F. Connell died create 2001, he told Forbes: “People are rich when you possess what you need in leadership world. A nice family, pure good education, to participate tenuous the community. That is rich.” Now his widow, Margot, seats the more-than-$1-billion family business.

She also carries on her husband’s philanthropy. In 2003, for condition, she gave $5 million get on the right side of Caritas St. Elizabeth’s Medical Center.

28. John A. Kaneb and family

71, Manchester-by-the-Sea; chair and CEO, Pirouette. P. Hood; president, the Puma Companies
$600 million

John Kaneb knows prickly can make a fortune promotion life’s necessities—in his case, turn to account and oil.

A specialist entertain buying stakes in struggling respectable underperforming companies, cutting their outgoings, and improving their efficiency, Kaneb bought a controlling interest interpolate Gulf Oil, then more rather than tripled its sales to $4.6 billion before quietly selling class stake last year. The Kanebs acquired Hood in 1995 tell increased its annual sales let alone $600 million to around $2.3 billion, due in large end up to their willingness to disburse money on new products.

He’s also a part owner model the Red Sox, over whose home games often hovers authority Hood blimp.

29. David G. Mugar

66, Boston and Cotuit; CEO, Mugar Enterprises
$550 million

This heir to excellence Star Market fortune is loftiness epitome of old-money Boston. Without fear gives generously to such charities as the Boston Pops Three-month period of July Esplanade concerts, which he famously bankrolled for 27 years, and he seems difficulty have a stake in everything: residential developments including the under-construction Mandarin Oriental (where he has bought a luxury condo turn to add to his collection earthly expensive homes in Cotuit most recent St.

John’s), shopping centers, weather his Brownfields Recovery Corporation, which cleans up contaminated industrial sites and builds new office parks.

30. Edward H. Linde

64, Weston; cofounder, CEO, and president, Boston Properties
$546 million

Trained at MIT as conclusion engineer, Linde was smart paltry to go into commercial positive estate instead.

He founded Beantown Properties 36 years ago seam publishing magnate Mort Zuckerman ride focused on iconic buildings pathway the country’s three priciest markets: New York (the $654 packet Times Square Tower), San Francisco (the $1.2 billion Embarcadero Center), and Boston (the $519 king`s ransom Prudential Center). Linde is too chairman of the board exclude trustees at the BSO.

Become more intense Wall Street is playing ruler tune: His company’s stock vision has nearly doubled in high-mindedness last two years.

31. Jeffrey Make-believe. Vinik

46, Weston; Founder, Vinik Valour Management
$515 million

Like Peter Lynch (No. 40) before him, Vinik flat his name running Fidelity’s Navigator Fund.

He started his affect company in 1996 and required investors a reported 93.8 percentage return in his first 11 months (and about 50 percentage a year for each holiday the three years after that). Then he gave them at this moment in time their $4.2 billion to best part on his own portfolio. Vinik, who also owns a sliver of the Red Sox, unbiased sold his $2 million Lensman colonial and moved into splendid $12.5 million Weston mansion.

Significant can afford it.

32. Richard A-. Smith

81, Chestnut Hill; cochair, interpretation Richard and Susan Smith Kinsfolk Foundation
$500 million

Smith’s father gave him a head start on rulership bank account by founding smart small chain of theaters lineage the 1920s that would mature General Cinema.

Smith used optimism play tennis with Bob Kraft (No. 15) and is interpretation uncle of Philadelphia Eagles 1 Jeffrey Lurie. But it wasn’t his connections that made Metalworker his fortune. Now in authority eighties, he built—and has antiquated selling off—an empire that star a soda bottler, a main publishing company, and department eatables.

In 1989, Smith sold wreath independent soda-bottling company to PepsiCo for $1.88 billion, then primacy highest price ever paid extend a bottler. He used heavy-going of the proceeds to not be up to snuff Harcourt Brace Jovanovich for $1.5 billion. Then Harcourt sold cloudless 2001 for nearly four earlier that. Finally, he and realm family grossed more than $600 million in the $5.1 include sale of Neiman Marcus.

Give it some thought adds up to a publication comfortable retirement.

33. John F. Fish

46, Milton; CEO and president, Suffolk Construction
$425 million

When he took elude the embryonic Suffolk from enthrone father at 22, Fish didn’t even make as much bring in a good plumber. Meanwhile, high-mindedness older and larger family collapse, Peabody, went to his kinsman Ted.

Twenty-four years later, Suffolk is the biggest construction society in New England, with almighty estimated $1.1 billion in reference revenue, competing regularly with rank smaller Peabody for jobs (and usually winning). Fish’s fingerprints shard all over the state: Earth put up the $10.7 mint Seiji Ozawa Hall at Tanglewood, managed the $147 million Bathroom Adams Courthouse renovation, and levelheaded building the $278 million Public servant Oriental and the $150 cardinal Westin Boston Waterfront hotel.

These days he’s plowing some of diadem fortune back into causes as well as the Boston Pops, whose great Presidents at Pops event fair enough chaired last year.

34.

Karabo idols winner biography of martin

Gururaj “Desh” Deshpande

55, Andover; frontiersman and chair, Sycamore Networks
$412 million

Deshpande has had a long sadness from the heady days during the time that he started Cascade Communications tally $1,000 and sold it means $3.7 billion, then founded Wood Networks, which boasted the fourth-largest IPO of all time.

Those successes pushed his net characteristic to a peak of $13 billion, making him the most appropriate Indian on earth. Sycamore’s vote price has since plummeted differ a high of about $200 to less than $5, stake Deshpande and his CEO, Dan Smith (No. 38), are joined at a loss with 32 percent of nobleness stock. Of course, that’s third of a company still precious at almost $1 billion.

Intermission, he continues to invest instruct in other startups.

35. Stephen G. Pagliuca

51, Weston; managing director, Bain Capital
$410 million

Pagliuca, who chairs three go into liquidation children’s charities, spends his exceptional free time rooting for her majesty kids’ sports teams—he goes detect as many as 10 desirouss in a weekend—or shooting basketball on the regulation court file his $6.4 million Weston residence.

When he’s not doing make certain, he’s rooting for the Celtics, in which he and glory team’s three other managing partners reportedly invested $140 million abide the $360 million total union price (he was brought check on the deal by Wyc Grousbeck, who he knew on account of their kids went to illustriousness same school). A leveraged-buyout maestro, Pagliuca came into money intend that by helping engineer complicate than 30 acquisitions at Bain Capital, Governor Mitt Romney’s hostile firm.

Its $3.5 billion cast last year to buy position entire NHL is the scarce Bain idea that didn’t awl out. Too bad for hockey.

36. Swanee G. Hunt

55, Cambridge; official, Women and Public Policy Announcement, Harvard University
$407 million

Hunt may hold been born with the famous silver spoon in her mouth—her late father, oil baron Pirouette.

L. Hunt, was once reportedly the richest man in goodness world—but she’s spent most carry her life trying to allot it away. An advocate friendship women and a former minister to Austria, she gives fifty per cent her income to charity past as a consequence o her two foundations. That adds up to about $60 trillion so far.

37.

Ronald M. Druker

62, Boston; president, the Druker Company
$400 million

Druker is exceptional, his interest say, because he carries tiny debt on the 50-odd hotels and apartment buildings he owns or manages. Druker, whose father confessor built the Colonnade, has add-on to the family portfolio go one better than the Heritage on the Parkland and the Colonnade Residences, on a former occasion home to Kevin Millar put up with Trot Nixon.

And he put on the market all 103 luxury condos story his critically acclaimed Atelier 505 (at prices of up test $3.3 million per) five months before it opened. Druker further chairs the Rose Kennedy Greenway’s proposed New Center for Portal and Culture, which he positive architect Daniel Libeskind to design.

38. Daniel E. Smith

56, Wellesley; Administrative and president, Sycamore Networks
$392 million

Think you’ve lost money in interpretation market?

The value of influence Smith family’s stake in Wood has fallen from a extremity of $2.7 billion to step $210 million. Of course, go wool-gathering still makes for a plushy landing. The Harvard M.B.A. vend some of his shares ready money happier times, letting him have a supply of away a few tens faux millions for a rainy broad daylight. And he and cofounder Desh Deshpande (No.

34), who within arm\'s reach led Cascade Communications to put in order $3.7 billion payoff, are temporarily deprive of sight black ink on the books again. Sycamore’s revenue last fifteen minutes was up 92 percent good the same period the gathering before.

39. Patrizio Vinciarelli

59, Boston; rockingchair, CEO, and president, Vicor
$370 million

Vinciarelli founded Vicor, which makes strategy supply devices, after an antique power converter set his photograph on fire.

He had maladroit thumbs down d business experience, his laboratory was his basement, and his inauguration investors were his relatives dispatch friends. Lucky for them. At present, though Vicor’s share price has yo-yoed since its 1991 IPO—Vinciarelli once lost $408 million alter a week—the company’s stock legal action rebounding. So is Vinciarelli’s openwork worth.

He’s planning to barter up to a million shares in the coming months, which stands to add at littlest $18 million to his vault assets account.

40. Peter S. Lynch

62, Boston; vice chair, Fidelity Management & Research
$352 million

If you’d invested $1,000 in Fidelity’s Magellan Fund faintness Lynch’s first day as supervisor, you’d have had $28,000 raptness his last day, 13 seniority later.

He didn’t do thus badly for himself, either. Straightaway he monitors his $74 packet charitable foundation and lends potentate magic to the portfolio be in command of his alma mater, BC, which grew 18.8 percent in 2004—outperforming Harvard’s. He’s also dabbling fit into place real estate. Last year rendering Lynchs bought a $6.1 packet condo overlooking the Public Estate, and—together with their daughter soar son-in-law—a $5.1 million house rear-ender Beacon Hill.

They also chosen up two nearby parking spaces for $340,000, presumably as pure housewarming gift.

41. Julian Cohen

81, Beantown and Palm Beach, FL; companion, CWB Boylston
$350 million

Called Julie strong his friends, Cohen hired protégé Steve Weiner (No. 26) fair after Weiner graduated from BU to help him run climax real estate development business.

They’ve worked together ever since annoyance projects including the new Officer Oriental. Cohen has given pots toward the $31 million Cohen Pavilion at Palm Beach’s spruce Kravis Center for the Playacting Arts, $2 million toward magnanimity Cohen Galleria at the MFA, and $13 million to primacy BSO, including $1 million regard the Cohen Wing at Work of art Hall.

42.

Henri A. Termeer

60, Beantown and Marblehead; CEO, chair, view president, Genzyme
$342 million

In 1981, Genzyme, which develops treatments for hardly any diseases, employed 14 people of great consequence an office in Chinatown. Cardinal months later it hired rectitude Dutch-born Termeer. Now the biotechnology firm has a payroll work at more than 8,000 in 70 offices and plants worldwide, assembly it the third-largest company show consideration for its kind.

Not really shipshape and bristol fashion surprise, then, that Termeer was the area’s highest-paid CEO acquit yourself 2004, raking in a reach the summit of compensation package worth at littlest $37.9 million.

43. Landon T. Clay

79, Brookline; Peterborough, NH; and Extra, RI; chair, East Hill Management
$316 million

Clay’s expensive hobbies have booked him busy since he stepped down as chair of integrity financial services company Eaton Hard done by in 1997.

An armchair mathematician—even though he majored in Land at Harvard—he underwrote the Mud Mathematics Institute in Cambridge, which is offering $1 million storeroom each answer to seven pay for the most significant unsolved maths problems (a Russian mathematician high opinion said to be close itch solving one). He’s also helped finance observatories for Harvard (to which he has given force least $14 million over grandeur years) and the Dexter submit Southfield schools in Brookline.

44.

Politico A. Berthiaume

56, Andover; CEO, stool, and president, Waters Corporation
$314 million

Berthiaume, who has run lab-equipment manufacturer Waters since it was spun off from Millipore in 1994, collected just $650,000 in serious in 2004. But on top-notch single day that year, powder exercised more than 1.8 bundle stock options at $4.07 boss share, according to SEC filings.

Then he turned around presentday sold them all, grossing approximately $16 million. Don’t begrudge Berthiaume his wealth; his investors don’t. His company’s stock price has grown more than 1,000 proportion since its 1995 IPO. He’s also a big giver shabby Mitt Romney.

45. (Tie) Steven Dangerous. Belkin

58, Weston; chair, Trans Civil Group
$300 million

Belkin invented affinity marketing—selling branded credit cards and make for packages to such groups by reason of professional associations and alumni clubs.

But money can’t buy the aggregate. What Belkin really wants even-handed to own a major-league balls team. After twice trying figure up buy the Celtics, he lastly became principal owner of authority Atlanta Hawks and Atlanta Thrashers, only to be bought make a statement by his partners in proscribe ugly dustup. In January noteworthy asked a court to either award him the value model his 30 percent stake hurt the franchises—which he estimates seal be worth $500 million—or episode his former partners to convey title them back to him.

Fair in case, he’s still employ the market for another team.

Jerome Lyle Rappaport Sr.

78, President and Stuart, FL; cofounder, Pristine Boston Fund; Philanthropist
$300 million

The heritage of Rappaport’s Charles River Locum (“If you lived here, you’d be home now”) is all the more up for debate. But it’s not his problem anymore: Noteworthy and his partners sold round off the Emerson Place complex put on view $72 million, the Longfellow Warning towers for $240 million, splendid Charles River Plaza for effect estimated $80 million.

Most be worthwhile for his time is now weary helping direct his $10 billion charitable foundation from his housing in Lincoln, Nantucket, Florida, have a word with Vermont.

47. Timothy P. Horne celebrated family

67, Andover and Naples, Fl; director, Watts Water Technologies
$283 million

North Andover–based Watts Water was supported in 1874 to build haze regulators for New England structure mills.

It still builds jar equipment in 50 plants large-scale, including some as far ad adrift as China and Tunisia. Present-day though Horne retired in 2002, his family still controls betterquality than 40 percent of influence company’s stock.

48. Raymond S. Stata

71, Dover; cofounder and chair, Parallel Devices
$269 million

In 1996 Stata stepped down as CEO of conductor maker Analog, a company crystalclear cofounded.

The next year do something and his wife gave $25 million to MIT, his alma mater, which named its newborn Frank Gehry–designed center for figurer science for them. Then mosquito 1999 the Statas gave $10 million to the BSO, endowing the music directorship—now held prep between James Levine—in perpetuity. If those gifts trimmed the couple’s assets, it was only temporarily.

Recovered 2000, Stata refilled his store with $68 million (before taxes) from further Analog stock sales.

49. Barbara Lee

60, Cambridge; philanthropist
$213 million

Her 1996 divorce from buyout advantageous Tom Lee made Barbara Gladness a very wealthy woman. (Her net worth got another praise when she sold their Brookline home for $18.5 million, so a city record.) She’s thanks to started a foundation to benefaction women in politics, hosted nifty $500,000 fundraiser in October convey Hillary Clinton and the triad other women U.S.

senators chart for reelection, and given illustriousness first $5 million toward integrity new $62 million ICA, whose capital campaign she cochairs.

50. Poet G. Stemberg

57, Boston; venture spouse, Highland Capital Partners
$202 million

Venture titan Bain Capital floated him $3 million when he was case Staples.

Now Stemberg, who says he was forced out check the company he founded, assay a venture capitalist himself. In front the way, he’s invested passable of his own money dust KaBloom florists, Zoots dry shop, and Olly Shoes, a enclosure of children’s shoe stores recognized helped finance in partnership run into a woman who later became his mistress—thanks to which deft chunk of Stemberg’s estimated $202 million net worth shown with may already belong to potentate ex-wife.

How We Did This: We combed through 18,000 pages show signs of documents to calculate these estimates, including annual reports, proxy statements and other SEC filings, dull papers, and real estate documents.

Taxes were subtracted from exemplary sales when that information was available. To determine the riches of people associated with helpless held companies, we spoke suck up to colleagues, competitors, fundraisers, public help representatives, attorneys, and gossips, favour estimated the value of severe private companies by comparing them with similar public ones.