Ross Perot, Jr.

Ross Perot, Jr.
Born Henry Ross Perot, Jr.
(1958-11-07) November 7, 1958
Dallas, Texas
Nationality American
Education Vanderbilt University
Net worth Increase US $ 1.6 billion (est.)
(2015)[1]
Spouse(s) Sarah Perot
Children 4
Relatives H. Ross Perot, Sr. (father)

Henry Ross Perot, Jr. (born November 7, 1958)[2] is a real estate developer and Chairman of the Board for Perot Systems. He is the elder son of Ross Perot.

Early life

Perot was born and raised in Dallas, the son of Margot (Birmingham) and Ross Perot. He graduated from St. Mark's School of Texas in 1977. After graduating from Vanderbilt University, he served in the United States Air Force for eight and a half years.

Career

In 1982 Perot co-piloted a flight that circled the world in a helicopter.[3] Using a Bell 206 L-1 Long Ranger II, Perot completed the circumnavigation on September 30, 1982.

Spirit of Texas, a Bell 206 helicopter used to circumnavigate the globe. Currently on display at the Smithsonian National Air and Space Museum at Dulles International Airport.

Perot has expanded his family's fortune primarily through real estate and serves as chairman of The Perot Group, which manages the various Perot family interests that include real estate, oil and gas, and financial investments. He is well known for his 1980s development and ownership of the Fort Worth Alliance Airport and the residential community of Heritage, which is a successful development executed by the public-private partnership Alliance Texas.[4] Perot is also Chairman of Hillwood, which he founded in 1988. Hillwood is ranked among the top ten real estate developers in the United States and is recognized for its high-profile projects and public-private ventures.[5]

Hillwood's residential division, Hillwood Communities, was awarded by D Magazine’s D CEO as "Outstanding Single-Family Developer of the Year" in October 2015. The company has focused on acquiring highly sought after land and launching new communities with its LiveSmart platform. The LiveSmart brand entails providing homes and communities with the latest technology in home automation and other conveniences, rigorous standards for energy efficiency and environmental stewardship, and other lifestyle components, such as pedestrian-friendly neighborhoods with amenities that encourage activity and a sense of community.[6] It debuted that brand with Harvest, a $1 billion, 1,150-acre development in Northlake and Argyle. Hillwood Communities recently kicked off several new LiveSmart communities in Texas, including the 1006.5 acres development Pomona in Manvel, TX and the 787-acre Union Park in Little Elm.[7]

From 2002-2003, Perot served as chairman of the Texas Governor's Task Force for Economic Growth.[8] In March 2007, presidential candidate Mitt Romney, seeking the Republican Party nomination selected Perot as a member of his Texas finance committee.[9]

Perot is also a member of the Board of Directors for Dell Inc. He is Chairman of the United States Air Force Memorial Foundation and Co-Chairman of the EastWest Institute. He also sits on the Board of Trustees of St. Mark's School of Texas, Southern Methodist University, and Vanderbilt University.[8] In 2010 Forbes reported Perot's net worth at $1.5 Billion.[1] Perot was the 1983 recipient of the Langley Gold Medal from the Smithsonian Institution..

Dallas Mavericks ownership

Perot purchased the Dallas Mavericks NBA basketball team from original owner Don Carter in March 1996.[10] [11] Under his four-year tenure, the Mavericks made no more progress on the court as they had in Carter's final seasons, and nowhere near what they would do under his successor, Mark Cuban; it was said that he was a basketball novice, or disinterested in the sport [12] and was using his position as team owner to front his projects, most notably Victory Park, which was anchored by the American Airlines Center which opened in 2001. He sold the team to Cuban in January 2000 and the franchise has not had a losing season in the 15 full seasons afterward, winning two Western Conference championships and the 2011 NBA Finals.

In May 2010, Perot, who retained 5 percent ownership, filed a lawsuit against Cuban, alleging the franchise was insolvent or in imminent danger of insolvency. In June 2010, Cuban responded in a court filing maintaining Perot is wrongly seeking money to offset some $100 million in losses on the Victory Park real estate development.[13] The lawsuit was dismissed in 2011, due in part to Cuban asserting proper management of the team due to its recent victory in the 2011 NBA Finals.[14] In 2014, the 5th Circuit Court affirmed that decision on appeal. Following his initial defeat, Perot attempted to shut out Mavericks fans from use of the parking lots he controlled near the American Airlines Center.

Perot retains a minority stake in the team to this day, as does his predecessor Carter.

References

  1. 1 2 "The World's Billionaires: #721 Henry Ross Perot Jr.". Forbes. March 3, 2010.
  2. ↑ Texas Births, 1926-1995, Henry Ross Perot, Jr.
  3. ↑ "Speed around the world. Eastbound. Class E-1d (Helicopters: take off weight 1750 to 3000 kg) ". Fédération Aéronautique Internationale (FAI). Note search under E-1 Helicopters and "Speed over a recognised course". Accessed: 21 September 2014.
  4. ↑ http://www.hillwood.com/About/KeyBrands/AllianceTexas.aspx
  5. ↑ http://www.alliancetexas.com/WhyAllianceTexas/RossPerot,Jr.aspx
  6. ↑ http://www.hillwoodcommunities.com/Portals/0/PDFs/2001-5511-01%20LiveSmart%20Brochure%20DD8p7.pdf
  7. ↑ http://www.dmagazine.com/publications/d-ceo/2015/october/best-dallas-fort-worth-real-estate-projects-2015
  8. 1 2 Bloomberg Businessweek ; Executive Profile H. Ross Perot Jr.
  9. ↑ "Governor Mitt Romney Announces Texas Statewide Finance Committee" (Press release). MittRomney.com. March 27, 2007. Archived from the original on 2007-04-18. Retrieved October 28, 2010.
  10. ↑ Mark Cuban: Plane gives us a 'competitive advantage'; Perot Jr. is a 'joke'
  11. ↑ Mavericks ownership under Mark Cuban
  12. ↑ Perot sells to Cuban
  13. ↑ Cuban Responds To Perot Jr.'s Mavs, June 23, 2010, http://cbs11tv.com; retrieved July 19, 2010
  14. ↑ Jeff Caplan (November 4, 2011). "Judge denies suit against Mark Cuban". ESPN.

External links

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