Person

Robert M. Bass

Born:

1948

Location:

Fort Worth, Texas

Occupation:

Billionaire entrepreneur, investor, and philanthropist

Party:

Democrat

Spouse:

Anne T. Bass (4 children)

Net Worth:

$5.1 billion [22]

Robert Muse Bass is a billionaire entrepreneur, investor, and philanthropist. He inherited $2.8 billion from his oil tycoon uncle in 1959 and grew his fortune through investments and ventures. On the Forbes Billionaires 2021 list, he placed at number 550 with a net worth of $5.1 billion as of June 29, 2021. [1]

Robert sits on several boards, including the Texas Ballet Theater, Downtown Fort Worth, Inc., and Fort Worth Initiatives, Inc. He also makes financial contributions to support the development of the Fort Worth area. [2]

Robert and his wife Anne donated millions to Democratic political committees in the 2020 reporting year, including $2.49 million to the Senate Majority PAC and $100,000 to the House Majority PAC, with the goal of obtaining a Democratic majority in both the U.S. Senate and the House.

Early Life and Education

Born in 1948, Robert was the son of Perry Richardson Bass, an investor, philanthropist, and sailor, and Nancy Lee Bass, a philanthropist. He has three brothers: Lee Marshall Bass, Ed Bass, and Sid Bass. [3]

Robert’s oil tycoon uncle left him and each of his brothers $2.8 billion. Robert became the wealthiest of the four Bass brothers due to his investments and ventures, investing separately from his brothers since 1983. [4]

Robert earned a B.A. from Yale University and an M.B.A. from the Stanford University Graduate School of Business. [5]

Career

In the early 1980s, Bass founded his own successful private equity firm, the Robert M. Bass Group, which specializes in leveraged buyouts. It is now known as the Keystone Group. [6]

 

In 1999, Robert founded Oak Hill Capital, a private equity fund. The Oak Hill family of funds is comprised of more than $45 billion of investments across multiple asset classes. [7]

In 2003, Robert founded Aerion, a private jet start-up intended to build supersonic business jets. [8] The company shut down in May 2021 due to difficulties obtaining the funding to move from design to production. [9]

Over the course of 40 years, Robert successfully invested in the manufacturing, aviation, automotive, energy, and media and cable industries, among others. He was #550 on Forbes Billionaires 2021 list with a net worth of $5.1 billion as of June 29, 2021. [10]

Philanthropy and Board Memberships

Robert is a native of Fort Worth and has been very involved in its development and revitalization, investing in downtown development. [11]

He is the Director and Vice President of the Anne T. and Robert M. Bass Foundation with total assets of $90,931,569. [12] The foundation started in 1985 as a private grantmaking foundation. [13] It funds health and welfare programs mostly in the Fort Worth area. [14]

Robert is currently a trustee for Rockefeller University and serves on the boards of  the Texas Ballet Theater, the Amon Carter Museum of Western Art in Fort Worth, and Downtown Fort Worth, Inc. and Downtown Fort Worth Initiatives, Inc. [15] He is also a trustee for Brookings Institution, a nonprofit organization in Washington, DC that performs research and makes policy recommendations. [16]

Political Contributions

Most Texas political donors supported Donald Trump and the Republican party in the 2020 election, but Robert and Anne Bass donated millions to the Democrats. [17]

Per Federal Election Commission (FEC) filings, Robert and/or Anne Bass made 133 contributions totaling $3,353,750 to Democratic candidates and committees in the 2020 reporting year. Many were contributions to individual Democratic candidates for the 2020 election year, including Sen. Jon Ossoff (D-GA), Sen. Raphael Warnock (D-GA), Rep. Colin Allred (D-TX), then-Rep. Ben McAdams (D-UT), Sen. Cory Booker (D-NJ), Rep. Steven Horsford (D-NV), and many others. Major contributions in 2020 included $2.49 million to the Senate Majority PAC and $100,000 to the House Majority PAC. [18] These PACs work to elect Democratic majorities in the U.S. Congress. [19] [20]

Personal Life

Robert is married to Anne Bass. They live in Fort Worth, Texas and have four children. [21]

References

  1. “Forbes Billionaires 2021: The Richest People in the World” Forbes Magazine. June 2021. Accessed June 29, 2021. https://www.forbes.com/billionaires/ ^
  2. ProPublica Nonprofit Explorer. Robert M Bass. Accessed July 1, 2021. https://projects.propublica.org/nonprofits/name_search/index?utf8=%E2%9C%93&q=robert+m+bass ^
  3. About Robert Bass: American businessman (1948-) Peoplepill.com. November 2020. Accessed July 1, 2021. https://peoplepill.com/people/robert-bass ^
  4. Fort Worth Culturemap. City Life. “Fort Worth billionaire reigns as queen of America’s richest dynasty.” December 21, 2020. Accessed June 29, 2021. https://fortworth.culturemap.com/news/city-life/12-21-20-fort-worth-billionaire-alice-walton-richest-family-forbes/ ^
  5. Robert Bass – profile. Bloomberg. https://www.bloomberg.com/profile/person/14006144 ^
  6. “Telling Fortunes – Nos 22, 30, 31, and 37: Robert Bass, Edward Bass, Lee Bass, and Sid Bass” Texas Monthly. September 2013. Accessed June 29, 2021. https://www.texasmonthly.com/list/telling-fortunes/nos-22-30-31-and-37-robert-bass-edward-bass-lee-bass-and-sid-bass/ ^
  7. Engineering Experts – Robert Bass – biography. Omicsonline.org. Accessed July 1, 2021. https://biography.omicsonline.org/united-states-of-america/aerion-corporation/robert-bass-239255 ^
  8. Aerion – profile. Bloomberg.com. Accessed June 30, 2021. https://www.bloomberg.com/profile/company/1357991D:US ^
  9. “Texas Billionaire’s Supersonic-Jet Dream Dies as Aerion Folds” Bloomberg News. May 22, 2021. Accessed July 1, 2021. https://www.bloomberg.com/news/articles/2021-05-22/texas-billionaire-s-supersonic-jet-dream-dies-as-aerion-folds ^
  10. “Forbes Billionaires 2021: The Richest People in the World” Forbes Magazine. June 29, 2021. Accessed June 29, 2021. https://www.forbes.com/billionaires/ ^
  11. Engineering Experts – Robert Bass – biography. Omicsonline.org. Accessed July 1, 2021. https://biography.omicsonline.org/united-states-of-america/aerion-corporation/robert-bass-239255 ^
  12. A 990-PF: Anne T & Robert M Bass Foundation, Return of a Private Foundation (Form 990-PF), 2018, Part II ^
  13. GuideStar Profile. Anne T & Robert M Bass Foundation. Accessed June 30, 2021. https://www.guidestar.org/profile/75-2001892 ^
  14. Blue Tent – Funding – Robert and Anne Bass. Accessed June 30, 2021. https://bluetent.us/funding/robert-and-anne-bass/ ^
  15.  ProPublica Nonprofit Explorer. Robert M Bass. Accessed July 1, 2021. https://projects.propublica.org/nonprofits/name_search/index?utf8=%E2%9C%93&q=robert+m+bass ^
  16. Brookings Institute – About Us. Accessed July 1, 2021. https://www.brookings.edu/about-us/ ^
  17. “High-dollar Texas donors prefer Trump (but Austin gave more to Biden)” Austin American-Statesman. October 31, 2020. Accessed June 29, 2021. https://www.statesman.com/story/news/state/2020/10/31/high-dollar-texas-donors-prefer-trump-but-austin-gave-more-to-biden/42924471/ ^
  18. Federal Elections Commission – Campaign Finance Data. Search on Robert Bass and/or Anne Bass. Accessed June 30, 2021. https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=Anne+Bass&contributor_name=Robert+Bass&contributor_city=Fort+Worth ^
  19. Senate Majority PAC website. Accessed June 30, 2021. https://www.senatemajority.com/ ^
  20. [House Majority PAC website. Accessed June 30, 2021. http://www.thehousemajoritypac.com/ ^
  21. Robert Bass – profile. Forbes Magazine. June 2021. Accessed June 29, 2021. https://www.forbes.com/profile/robert-bass/?sh=556c45fb6cff ^
  22. Robert Bass – profile. Forbes Magazine. June 2021. Accessed June 29, 2021. https://www.forbes.com/profile/robert-bass/?sh=556c45fb6cff ^

Connected Organizations

  1. Anne T. and Robert M. Bass Foundation (Non-profit)
    Vice President
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