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Sam Wyly Net Worth

Net Worth: $20 Million
Source of wealth:


Full Name Samuel E. "Sam" Wyly
Birth Place Lake Providence, Louisiana, U.S.
Date of Birth Oct 04, 1934 (age 85)
Nationality American
Occupation Businessman, Investor
Marital Status Married (Cheryl Wyly)
Children 6
Education University of Michigan (M.B.A.), Louisiana Tech University
Last Updated
Aug 5, 2015

About Samuel E. "Sam" Wyly

American entrepreneur, businessman and philanthropist Sam Wyly, who is a major contributor for Republican, causes, candidates and campaigns, has an estimated net worth of $20 million. Born in Louisiana, in October 1934. Wyly’s career began when he served as a salesman at IBM’s Service Bureau Corporation following his graduation from Louisiana Tech University, the University of Michigan and the Ross School of Business. He then went on to establish University Computing Company in 1963 before the firm went public in 1965 and had $125 million in sales by 1971. In addition to his acquisition of the restaurant chain Bonanza Steakhouse in 1967, Wyly also acquired Gulf Insurance in 1986, co-founded Earth Resources Company, acquired Computer Technology in 1970 and co-founded Sterling Software in 1981. A year later, he continued to purchase controlling interest in the arts and crafts store Michaels and in 1986 he completed the acquisition of the retail chain Frost Bros. In 1990, he co-founded the hedge fund Maverick Capital. His memoir 1,000 Dollars & an Idea: Entrepreneur to Billionaire was released back in 2008. Wyly and his brother Charles were claimed to have given approximately $10 million to Republican causes and candidates between 1970 and 2006. In 2014, Wyly filed for bankruptcy after losing a fraud case brought by the SEC and in April 2015, the IRS filed claims for $3.2 billion dollars against him. Wyly appeared on Forbes’ rich list in 2010, with a net worth of $1 billion. He has married thrice and has six children.