Philip Anschutz net worth 2022: Philip Frederick Anschutz is an American billionaire businessman who owns or controls companies in a variety of industries, including energy, railroads, real estate, sports, newspapers, movies, theaters, arenas and music. In 2004, he purchased the parent company of the Journal Newspapers, which under Anschutz’s direction became the American conservative editorial newspaper Washington Examiner.
Philip Anschutz net worth and Biography
|Net worth||$11 billion|
|Date birth||December 28, 1939|
As of 2022, Philip Anschutz net worth is valued at $11 billion making him one of the richest people in the world.
Anschutz was born in Russell, Kansas, the son of Marian (née Pfister) and Frederick Benjamin Anschutz. His father was an oil tycoon and land investor who invested in ranches in Colorado, Utah and Wyoming, and eventually went into the oil-drilling business. His grandfather, Carl Anschutz, was an ethnic German who emigrated from Russia and started the Farmers State Bank in Russell. Anschutz grew up in Russell (where he lived near Bob Dole), Wichita, and Hays, Kansas. In later years, Anschutz contributed to Dole’s political campaigns.
Anschutz graduated from Wichita High School East in 1957, and in 1961 earned a bachelor’s degree in business from the University of Kansas, where he was a member of the Sigma Chi Fraternity.
In 1970, Anschutz bought the 250,000-acre (1,000 km²) Baughman Farms, one of the country’s largest farming corporations, in Liberal, Kansas, for $10 million. The following year, he acquired 9 million acres (36,000 km²) along the Utah-Wyoming border. This produced his first fortune in the oil business.
In the early 1980s, the Anschutz Ranch, with its billion-barrel (160,000,000 m³) oil pocket, became the largest oil field discovery in the United States since Prudhoe Bay in Alaska in 1968. In 1982 Anschutz sold an interest in it to Mobil Oil for $500 million.
For several years, Anschutz was Colorado’s sole billionaire. With his acquisition of land in other Western states, he became one of the 100 largest landholders in the United States.
Anschutz then moved into railroads and telecommunications before venturing into the entertainment industry. In 1999, Fortune magazine compared him to the 19th-century tycoon J.P. Morgan, as both men “struck it rich in a fundamentally different way: they operated across an astounding array of industries, mastering and reshaping entire economic landscapes.”
In 1984, Anschutz entered the railroad business by purchasing the Rio Grande Railroad’s holding company, Rio Grande Industries. In 1988, the Rio Grande railroad purchased the Southern Pacific Railroad under his direction.
With the merger of the Southern Pacific and Union Pacific Corporation in September 1996, Anschutz became Vice-Chairman of Union Pacific. Before the merger, he was a director of Southern Pacific from June 1988 to September 1996, and non-executive chairman of Southern Pacific from 1993 to September 1996.
The Anschutz Entertainment Group (AEG) is a sporting and music entertainment presenter and a subsidiary of The Anschutz Corporation. It is the world’s largest owner of sports teams, sports events, and sports venues. It is also the owner of entertainment venues and under AEG Live the world’s second-largest presenter of live music and entertainment events after Live Nation. Through AEG Live, it owns the Coachella Valley Music and Arts Festival.
Anschutz has had several other business ventures, including Forest Oil, Pacific Energy Group, Union Pacific Railroad (he is the company’s largest shareholder, with a 6% stake), and the Regal Entertainment Group, the second-largest movie theater chain in the world, with approximately 7,000 screens. Anschutz owns more than half of the company, and multiple newspapers and media groups.
Anschutz supported the Parents Television Council, a group that protests against television content that they consider indecent.
He also financed and distributed films with Christian themes for mass audiences (through his two film production companies and ownership of much of the Regal, Edwards and United Artists theater chains) such as Amazing Grace and The Chronicles of Narnia: The Lion, the Witch and the Wardrobe. He financed The Foundation for a Better Life.
Philip Anschutz Net Worth
As of 2022, Philip Anschutz net worth is valued at $11 billion making him one of the richest people in the world. Anschutz is one of the world’s richest people and is an active philanthropist. He heads the Anschutz Foundation, and was listed 41st on the Forbes 400 list in October 2019, with a net worth of $11.5 billion