Amherst College Billionaires

Billionaires from Amherst College

01) John Abele -

Net Worth:$1.0 bil
Fortune:self made
Source:Boston Scientific
Age:72
Country Of Citizenship:United States
Residence:Shelburne, Vermont
Industry:Health Care
Education:Amherst College, Bachelor of Arts / Science,
Marital Status:married, 3 children

Met partner Peter Nicholas at kids' soccer game; cofounded medical device producer Boston Scientific 1979. Expanded into catheters, balloons, stents. Fortune continues to dwindle amid bad publicity, legal woes: in May federal jury ruled in favor of rival Medtronic in patent infringement suit; Boston Scientific ordered to pay $19 million in damages, appealing. Shares down 20% in that year. Company acquired heart-device maker CryoCor in May for $17.6 million despite lawsuits to block the deal.

02) Richard Lefrak & Family -

Net Worth:$4.0 bil
Fortune:inherited
Source:real estate
Age:63
Country Of Citizenship:United States
Residence:New York, New York
Industry:Real Estate
Education:Amherst College, Bachelor of Arts / Science, Columbia University, Doctor of Jurisprudence
Marital Status:married, 2 children

Grandfather Harry moved to New York in early 1900s, created glassworks for Louis Comfort Tiffany. Began developing real estate 1901. Father, Sam, expanded in New York City and New Jersey; built LeFrak City in Queens 1959. Richard joined family business in 1970s, became chairman after dad died in 2003. Today portfolio includes 5,000 apartments in LeFrak City, 16-million-square-foot commercial, residential, retail complex in Newport, N.J. 'Mini-city' includes 429-room Westin Jersey City Newport hotel that opened in February, 2 new residential towers currently under development. Diversifying into Los Angeles, London real estate; owns interests in oil and gas wells.

03) Amos Hostetter Jr -

Net Worth:$1.9 bil
Fortune:self made
Source:cable television
Age:72
Country Of Citizenship:United States
Residence:Boston, Massachusetts
Industry:Media
Education:Amherst College, Bachelor of Arts / Science, Harvard University, Master of Business Administration
Marital Status:married, 3 children

Stockbroker's son invested $4,000 to set up cable company with frat brother 1963. Brought cable programming to rural cities. Continental Cablevision grew into nation's largest privately held cable firm; sold to US West for $11 billion in 1996. Bought back company, renamed MediaOne. Flipped to AT&T for $58 billion 3 years later. Today chairs investment firm Pilot House Associates; owns $85 million stake in Energy Transfer Equity. With partners, sold telecommunications firm Aloha Partners — then the largest owner of 700 megahertz radio frequency — for $2.5 billion in 2007. Invested in GlobalPost, a syndicated news service that provides newspapers and websites outsourced international coverage via a network of part-time foreign correspondents