Getty Ross Perot Jr.
After a five-month-long battle with leukemia, the two-time candidate for president of the United States, Ross Perot, has died at the age of 89.
First reported by the Dallas Morning News, Perot passed away after losing the battle to the lethal cancerous disease.
In a statement released by Perot’s asset management company, the self-made billionaire from Texas died on July 9th, “surrounded by his family.”
“With deep sadness, I am letting you know that Mr. Perot passed away early Tuesday at his home, surrounded by his family,” the statement said. “Mr. Perot was a true patriot and a dedicated humanitarian. He will be missed greatly.”
Perot is survived by his wife, Margot Birmingham, and five children, including his only son Ross Perot Jr.
Here’s what you need to know about Perot Jr.:
1. Ross Perot Jr. Has a Net Worth of $2.3 Billion
According to Forbes, Ross Perot Jr., 60, has a net worth of about $2.3 billion. His main contributor to his wealth is his involvement in real estate.
Perot Jr. founded Hillwood, his real estate development company in 1988, as well as building AllianceTexas, an “inland port” and logistics center outside of Fort Worth, Texas on an 18,000-acre large piece of property.
This is just a few of Perot Jr.’s real-estate ventures including some that are being built today, like a Dallas skyscraper in which he is working with famed architect Norman Foster, per Forbes.
He also ranks 1008th on Forbes Billionaires of 2019 list.
2. Perot Jr. Owned the Dallas Mavericks from 1996-2000
GettyForward A. C. Green of the Dallas Mavericks stands between NBA Senior Vice President Rod Thorn (left) and Ross Perot Jr.
Before being bought by the eccentric and well-known business tycoon, Mark Cuban, Ross Perot Jr. was at the helm of the Dallas Mavericks for about four years in the late-1990s.
According to Fort Worth’s Star-Telegram, Perot bought Mavs from American businessman Don Carter for $135 million in March of 1996. The Mavs price raised about $150 million as Perot Jr. sold the team to Cuban for $285 million at the turn of the millennium.
After Perot Jr. sold the Dallas Mavericks to Cuban, Cuban became one of the most well-known sport’s owners in the world, as his eccentric and flashy attitude was often a focal point of the success of the Mavs.
3. Perot Jr. Sued Mark Cuban in 2010 for Allegedly Putting the Dallas Mavericks in Severe Debt
In May of 2010, Perot Jr. sued Mark Cuban for allegedly putting the Mavericks company into an interest-bearing debt of more than $200 million, causing a $289 million deficit and negative working capital of $75 million, per the Associated Press.
The suit filed by Perot Jr. acknowledged the amount of success the Mavericks obtained since Cuban took over ownership, but questioned its success saying it has come at “great costs.”
“However, this success has come at a great cost. [The club] has made a litany of questionable business, financial and personnel decisions through the years that have placed [the club] in the position of not being able, through its own revenues, to pay its debts as they become due,” the petition stated.
Perot Jr. filed the suit after relinquishing ownership because, according to dallasnews.com, Perot Jr. still owned a small stake in the team at the time of the lawsuit.
“Perot’s complaint is a joke, and in my opinion, so is he,” Cuban said of Perot Jr. and his lawsuit in typical Cuban-style.
Cuban eventually won the lawsuit and celebrated a Mavericks NBA title by delightfully rubbing it in Perot Jr.’s face.
4. Perot Jr. Was a Former Air Force Pilot & Was the First Ever to Circumnavigate the Globe in a Helicopter
Ross Perot Jr. and Jay Coburn’s helicopter, the “Spirit of Texas”
At the age of 23, Perot Jr. a former Air Force Pilot decided to travel the world via helicopter, making him the first one to do it in history.
Perot Jr. was inspired when Australian Dick Smith set out for the world record in his own helicopter.
“In August of 1982, a man who is now a good friend of mine, Dick Smith, who’s Australian, took off to be the first man to fly a helicopter around the world, had a big announcement in the newspaper, gonna fly around the world,” Perot Jr. told Business Insider. “In my mind, this is what Americans did. That we’re the ones that go out and set these big records.”
With Smith already 24-days ahead of Perot Jr., he and his friend Jay Coburn decided to take up the challenge and beat Smith.
According to Perot Jr., the most difficult part of the trip was getting around Russia, as the Cold War was still raging in the early 1980s. They made it though, having to land on a freighter ship outside of the country.
The two were able to make it back to the United States just 60 days after they took off, solidifying the record in American history.
Perot Jr. and Coburn were awarded the F.A.A Gold Medal from President Ronald Regan for their accomplishment, per Business Insider.
5. Perot Jr. Serves as Chairman of The Perot Group & Hillwood
The Perot Museum of Nature and ScienceFrom left to right: Carolyn Perot Rathjen, Nancy Perot Mulford, Ross Perot, Margot Perot, Ross Perot, Jr., Suzanne Perot McGee, Katherine Perot Reeves
According to Perot Jr.’s profile on Hillwood’s website, Perot Jr. serves as chairman of The Perot Group, a company which manages the Perot families financial interests such as their investments in real estate, oil and gas and financial investments.
He is also the chairman for Hillwood, a Texas-based, global leading real estate venture which Perot Jr. founded in 1988.
He is also the founder of Perot Systems Corporation a company that was acquired by Dell Inc. in 2009. Perot Jr. sat on the board of directors for Dell from 2009-2013.