Todd Boehly

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Todd Boehly
Todd Boehly Official Headshot.jpg
NationalityAmerican
Alma mater
Occupation
  • Businessman
  • Investor
  • Philanthropist
Title
Children3

Todd Boehly is an American businessman, investor, and philanthropist. He is the co-founder, chairman, chief executive officer and controlling member of Eldridge Industries, a holding company[2] headquartered in Greenwich, Connecticut.[3][4][5] As of October 2021, he is the interim CEO of the Hollywood Foreign Press Association.[6]

Early life and education

Boehly, whose grandparents emigrated from Germany, attended Landon School in Bethesda, Maryland, graduating in 1991.[7] He was a member of the school's wrestling team, which won I.A.C. championships in both 1990 and 1991.[8] In 2014, Landon named their facilities the Boehly Family Wrestling Room in Boehly's honor.[9]

He graduated from the College of William & Mary in 1996 with a B.B.A in Finance. He also studied at the London School of Economics.[10] While at the London School of Economics, Boehly began working at Citibank and then at CS First Boston so he could gain experience with finance.[11]

Career

1991–2015: Early career, Guggenheim Partners

Boehly spent his early career at Credit Suisse First Boston and J.H. Whitney & Company.[12][13] He joined Guggenheim Partners in 2001, where he launched the firm's credit investing business, assumed responsibilities for its asset management business, and most recently served as president.[10][12][14]

In early 2013, Boehly led a deal between Time Warner Cable and the Dodgers to create SportsNet LA, a regional network to broadcast all Dodgers’ games and Dodgers-related programming. Broadcasting from the new team-owned network began at the beginning of the 2014 baseball season.[15][16][17][18][19]

2015–present: Founding Eldridge, investment career

In 2015, Boehly bought some of the assets he had collected at Guggenheim, including The Hollywood Reporter, Dick Clark Productions, and Security Benefit to found Eldridge, a private holding company which invests in various industries.[7][20] In addition to Greenwich, Eldridge also has offices in New York, London and Beverly Hills.[21]

I think being diversified [...] really helps us ride out the cycles. [...] I think that with the stability of our funding base is so predictable, right. So you know, I think that the combination of being very diversified, not having event risk in the model and then having a really good funding base and a really good financial capital partner with me really gives stability to the platform.[11]

Boehly is on the boards of Cain International, Kennedy Wilson, PayActiv, Truebill, CAIS, Horizon Acquisition Corporation I, and Horizon Acquisition Corporation II.[22][23]

Life insurance

Boehly's firm Eldridge owns Security Benefit Life Insurance,[7] and SE2, a technology platform for insurance companies.[20] In 2021, he invested in Clearcover Insurance,[11] and DPL Financial Advisors, an RIA insurance network.[5]

Real estate

Boehly's real estate investments include Cain International, a real estate firm headquartered in London, is co-owned by Eldridge.[24] Through Eldridge, Boehly has also invested in real estate firms such as Kennedy Wilson, and helped found European real investment firm Blackbrook Capital.[25][26] In 2021, Boehly acquired a minority stake in Langdon Park Capital, a Black-owned real estate investment company, through Eldridge.[27]

Technology

As CEO, chairman and co-founder of Eldridge, Boehly has invested in the digital technology industry, including companies such as Gopuff, Dataminr, AI security company AnyVision, digital health platform Wellthy, and mobile game developer Tripledot Studios.[28][29][30][31][32] GoPuff filed to raise an additional $1 billion in July 2021, taking the company from a $14 billion valuation to $15 billion.[33]

Through Eldridge, Boehly has also invested in Wealthsimple,[34] which was valued at approximately $4 billion in 2021.[35]

Boehly acquired data technology company Knoema through Eldridge in 2020.[36] Boehly and Eldridge led a $125 million investment round for financial technology company Stash, which was valued at $1.4 billion in February 2021.[37] As of 2021, Boehly is on the board of financial technology company Truebill, which Eldridge has also invested in.[38]

Food industry

Boehly has invested in the hospitality group Aurify Brands, which owns restaurant chains such as Le Pain Quotidien.[39] He also invested in Chuck E. Cheese.[40]

Sports

Boehly owns 20% of the Los Angeles Dodgers and is also a part owner of the Los Angeles Sparks.[41][7] In 2019, Todd Boehly made an attempt to buy the English football club Chelsea for $3 billion, but the owner at the time, Russian billionaire tycoon, Roman Abramovich, rejected the takeover bid.[42] Boehly is an owner of fantasy sports company DraftKings and esports organization Cloud9.[43][44]

Boehly and Mark Walter acquired a 27% stake in the Los Angeles Lakers together from Philip Anschutz in July 2021.[45][46] As of February 2021, the Lakers were third-highest valued team in the NBA, with an estimated value of $5.14 billion.[47]

In October 2021, Boehly spoke at SporticoLive's "Invest in Sports" summit, where he discussed the sports industry and investment in professional sports.[48]

On December 14, 2021, it was announced that Boehly was heading an ownership group in exclusive negotiations to purchase a controlling interest in the Washington Spirit.[49] Boehly had entered talks to purchase the franchise in October 2021, and reportedly intended to finalize a deal.[50] On January 12, 2022, it was reported that Boehly had withdrawn from negotiations to purchase the team.[51]

On May 6, Chelsea Football Club confirmed they accepted the bid by "Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss, to acquire the Club. The deal is set to be finalized before the end of May 2022"[52]

Media and entertainment

Boehly is Chairman of MRC, which owns Dick Clark Productions and Billboard-Hollywood Reporter Media Group.[53][54] MRC has invested in A24 and Fulwell 73.[55][7] In September 2020, it was announced that Boehly's MRC and Penske Media Corporation were merging as part of a joint venture to manage their publications, including Billboard, Rolling Stone, The Hollywood Reporter, and Variety.[56] MRC and Penske announced plans to manage content such as television series, films, and live events including South by Southwest through a second joint venture.[57]

Boehly led a $3 million investment round for fan engagement platform Laylo.[58]

In October 2021, Boehly was named the interim CEO of the Hollywood Foreign Press Association.[6] Boehly's appointment was part of a series of reforms aimed at promoting diversity at the company.[59]

Reception and impact

Boehly was listed on LA Business Journal's list of the 500 most influential people from 2017 to 2021.[10][60][61][62][63]

In January 2021, Boehly partnered with William & Mary to produce a series of courses for students at the Boehly Center for Excellence in Finance.[64]

Philanthropy

Boehly helped found the Boehly Center for Excellence in Finance in 2014 at William & Mary's Raymond A. Mason School of Business with his wife Katie Boehly in 2014 via a multi-year gift.[65][66] They also sponsor the yearly women's Stock Pitch and Leadership Summit at William & Mary. In 2020, Boehly and Katie committed funding to the construction of a new athletic complex and sports performance center at the college.[67] They were honorary co-chairs of a $55 million campaign to fund William & Mary Athletics in 2021.[68]

He is also actively involved with various organizations, including Finding a Cure for Epilepsy and Seizures (FACES), the Brunswick School, the Prostate Cancer Foundation, and Focused Ultrasound Foundation.[69][13][66][70]

References

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