Who is Paul Bilzerian and what is his net worth 2018? Paul Bilzerian is an American. If it’s about business mergers, purchasing a company from another company or acquiring a public, then this gentleman can do wonders in these transactions and represent you maximally. Those were his daily activities until that fateful day in the 1980’s when his life changed abruptly. He was found guilty on various grounds. These included violation of securities and tax laws where he was sentenced a jail term.
Paul was born in 1950 in Miami, Florida but was brought up in Worcester, Massachusetts. His father was a civil servant. Bilzerian became a troubled teenager as a result of her parents’ divorce. In 1968, while still in high school, he was reprimanded in the principal’s office because of wearing jeans to school. That was a violation of the school’s dressing code. His reaction to that incident was absurd because he decided to drop out of school. Years passed by and Bilzerian decided to go back to school. He earned a bachelor of arts with honours from Stanford University. That same year of graduating, 1978, he joined Harvard business school.
Bilzerian married Terri Steffen in 1978 3 years after graduating. The couple migrated to St. Petersburg, Florida. They were blessed with two sons who they named Adam Bilzerian and Dan Bilzerian. Adam used to play tennis while he was studying at Gaither High School. He was outraged because of how the government treated his father. As a result, he decided not to become Army Green Beret.
Paul Bilzerian career path began as an investor. He and two others who were his collegues during Vietnam war decided to invest in a Tampa Bay-area radio station, WPLP. They had broadcasting industry’s experience. In 1980, there was a lawsuit by him against his fellow investors after the station performed very poorly and later declared bankrupt. He moved to sacramental, California in 1984.
In 1985, he attempted his first two high-profit takeovers. One of the company was Cluett Peabody which is a New York clothing manufacturer. The other one was H. H. Robertson which was a Pittsburgh construction company. The former accepted a company merger offer by Westpoint Home. It was then known as West Point Pepperell. In 1986, he left Sacramento for Florida. There he met two investors.
They were named William and Earle I. Mark. The two were the sons of H. Bert Mack who was a new jersey real estate developer. They launched a takeover bid for the Hammermill Paper Company. The company however settled for the offer of international paper instead of that of Bilzerian. They then bought Singer Corporation shares as of 1987.
Paul Bilzerian Net WOrth
Paul was a very wealthy man. That changed when he was faced with lawsuits one after the other. The fines were too much that he declared bankruptcy. Paul Bilzerian’s net worth is currently $90 million.
Bilzerian is an expert in takeover operations. He had a weird approach though. He would contact a company, deceive them into believing that they were a target of a hostile takeover attempt to in still fear in them. They would then sell their stocks to them. For that and many other related crimes, he ended up serving a 4-years jail term. He left in 2009.