Early Life
Sid Richardson Bass was born on April 9, 1942, in Fort Worth, Texas. He is the son of Perry Richardson Bass, a successful oilman who built the family's fortune, and Nancy Lee Bass. Sid Bass comes from a prominent family with a long history in the oil industry. He graduated from Yale University in 1965 and later earned a degree from Stanford Graduate School of Business.
Rise to Success
In 1968, Sid Bass took control of Bass Brothers Enterprises, the family business. Under his leadership, the company expanded its investments in oil and gas, becoming one of the largest privately held oil companies in the United States. Bass and his brothers were also major shareholders in The Walt Disney Company from 1984 until 2001. However, the Bass family was forced to sell their Disney holdings due to a margin call after the stock market crash in 2001. The family later sold oil and gas interests in Texas' Permian basin to ExxonMobil for $5.6 billion.
Key Business Strategies
Sid Bass is known for his strategic investments in the energy sector, leveraging his family's existing oil and gas assets. Bass has also diversified his investments, which include holdings in real estate and other ventures. He is recognized for partnering with investing legends like Richard Rainwater and making significant deals, such as the sale of oilfields to ExxonMobil.
Philanthropy
Sid Bass has made substantial contributions to philanthropic causes. In 1990, he donated $20 million to Yale University for the study of humanities. In 2006, Bass, along with his second wife, Mercedes Bass, made a gift of $25 million to the Metropolitan Opera.