Early Life
Philip Frederick Anschutz was born on December 28, 1939, in Russell, Kansas. His father was an oil tycoon and land speculator. Anschutz graduated from the University of Kansas in 1961 with a business degree.
Rise to Success
Anschutz's career began in the oil industry. He took over his father's oil drilling company, Circle A Drilling, in 1961. Anschutz made his first fortune in oil by acquiring 9 million acres along the Utah-Wyoming border. He later sold an interest in the oil field for $500 million in 1982. Anschutz invested in railroads and telecommunications. In 1984, he entered the railroad business by purchasing the Rio Grande Railroad's holding company. He later acquired Southern Pacific Railroad. Anschutz then expanded into sports and entertainment, co-founding Major League Soccer and multiple sports teams.
Key Business Strategies
Anschutz's business strategy has been marked by diversification, patience, and a long-term vision. He has a demonstrated ability to identify hidden value and act quickly on opportunities. His willingness to invest across diverse industries, from oil and railroads to entertainment, has been a key factor in his success. Anschutz's expansion into the entertainment industry, particularly through the Anschutz Entertainment Group (AEG), has further solidified his financial position.
Philanthropy
Anschutz is an active philanthropist. Through the Anschutz Foundation, he supports community service, cultural and arts groups, health facilities, and various initiatives. Anschutz and his wife, Nancy, have contributed over $100 million to the Anschutz Medical Campus of the University of Colorado.