Harold Simmons remains the most successful billionaire in 2011

Harold Simmons remains, to date, the undisputed most successful billionaire of 2011. It’s either him at the end of this year or someone else who can increase his or her stock worth to 170 percent in the next 18 days.

Simmons was worth around $5 Billion at the start of 2011 and during the first nine months, value of his stack in Vahli, Inc. rose to a whopping 170%, fuelling his worth to beef from $5 B to $9.6 B.

Simmons, now 80, decided a long time ago to reach the apex of $10 Billion worth and it seems that he is about to take it into his grasp.

The buyout wizard owns almost 96 percent of Vahli along with his family and controls its operations through his holding company, Contran Corporation, which itself performed splendidly this year.

During the year of many highs and lows in the financial sector, Vahli, a specialty chemicals conglomerate, managed to churn out $161.9 Million of profits for shareholders, in this case Simmons and family, out of $1.6 Billion revenue, taking Simmons worth
to dazzling heights.

Moreover, the company made good business in the stock market, owing to better performance in the business operations. Last year, the company made $32.5 Million in profits, favourably in tune of this year’s success.

However, Vahli aside, all of Simmons ventures did not pan out this year. His publicly-traded subsidiary, Kronos Worldwide showed a profit 12 percent less than last year’s.

The Golden, Texas-born started his professional career working as a government bank examiner. His big break came at early age when he purchased a local drug store. After nurturing it into a pharmaceutical chain, he sold it to Eckerd Corp. to become a buyout
expert.

In addition to being a stock market maestro, Simmons happens to be a philanthropist. He pledged huge sums of money to his friend, Oprah Winfrey’s school in South Africa. In March 2011, he and his wife, Annette donated half of their fortune to Bill and Malinda
Foundation.

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Posted by Usman Khalid on Dec 13 2011. Filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry