Ronald S. Baron
Encyclopedia
Ronald Stephen Baron (also known as Ron Baron) is the founder of Baron Capital Group, an investment management firm. The New York City
based firm, markets the Baron Funds. As of 2006, the funds had 700,000 investors and a market value of $16 billion.
Baron grew up in Asbury Park, New Jersey
. Baron invested a $1,000, saved from shoveling snow, waiting tables, working as a life guard, and selling ice cream, and turned it into $4,000 by investing in stocks, prompting cohorts to call him "Count", a nickname which still sticks.
He studied chemistry at Bucknell University
and attended George Washington University Law School at night on scholarship. His first job out of school was with the United States Patent Office.
He worked for several brokerage firms from 1970 to 1982 and developed a reputation as a short seller during a bear market of 1973-74.
He founded Baron Capital Management in 1982. The firm engaged in hostile takeover attempts of regional department stores Woodward & Lothrop
of Washington, D.C. in 1984 and Philadelphia's Strawbridge & Clothier in 1986. Neither takeover was successful.
His funds in 2010 were valued at $18 billion, and Baron is famed for a lavish lifestyle and shareholder meetings, which feature rock acts such as Elton John
, the Beach Boys, and Lionel Richie
.
In 2007, he paid $103 million for a house in East Hampton, New York
—the most ever paid for a residential property at that time—from Adelaide de Menil, heiress to the Schlumberger
fortune. de Menil's house had been built by piecing together historic East Hampton buildings that she moved to the property to protect them from demolition. Prior to the close of the sale, de Menil broke up the structures and moved them to various locations in the town for protection, including six that were moved a mile north to where they will form the new campus of the East Hampton Town government. Baron is now completing a new 28000 square feet (2,601.3 m²) house, designed by Hart Howerton, a New York architectural firm with several other projects in the Hamptons, which specializes in large-scale land use. The house was included in a recent Vanity Fair article on out-sized building projects in the famous summer home community.
The company, which owned 59% of Sotheby's
Class A stock, lost nearly $267 million when Sotheby's was accused of collusion with Christie's
in 2000.
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
based firm, markets the Baron Funds. As of 2006, the funds had 700,000 investors and a market value of $16 billion.
Baron grew up in Asbury Park, New Jersey
Asbury Park, New Jersey
Asbury Park is a city in Monmouth County, New Jersey, United States, located on the Jersey Shore and part of the New York City Metropolitan Area. As of the 2010 United States Census, the city population was 16,116. The city is known for its rich musical history, including its association with...
. Baron invested a $1,000, saved from shoveling snow, waiting tables, working as a life guard, and selling ice cream, and turned it into $4,000 by investing in stocks, prompting cohorts to call him "Count", a nickname which still sticks.
He studied chemistry at Bucknell University
Bucknell University
Bucknell University is a private liberal arts university located alongside the West Branch Susquehanna River in the rolling countryside of Central Pennsylvania in the town of Lewisburg, 30 miles southeast of Williamsport and 60 miles north of Harrisburg. The university consists of the College of...
and attended George Washington University Law School at night on scholarship. His first job out of school was with the United States Patent Office.
He worked for several brokerage firms from 1970 to 1982 and developed a reputation as a short seller during a bear market of 1973-74.
He founded Baron Capital Management in 1982. The firm engaged in hostile takeover attempts of regional department stores Woodward & Lothrop
Woodward & Lothrop
Woodward & Lothrop was a department store chain headquartered in Washington, D.C. Woodward & Lothrop was Washington, D.C.'s first department store, opening in 1887. Woodies, as it was often nicknamed, maintained stores in the Mid-Atlantic United States...
of Washington, D.C. in 1984 and Philadelphia's Strawbridge & Clothier in 1986. Neither takeover was successful.
His funds in 2010 were valued at $18 billion, and Baron is famed for a lavish lifestyle and shareholder meetings, which feature rock acts such as Elton John
Elton John
Sir Elton Hercules John, CBE, Hon DMus is an English rock singer-songwriter, composer, pianist and occasional actor...
, the Beach Boys, and Lionel Richie
Lionel Richie
Lionel Brockman Richie, Jr. , is an American singer-songwriter, musician and record producer. Since 1968, he has been a member of the musical group Commodores signed to Motown Records...
.
In 2007, he paid $103 million for a house in East Hampton, New York
East Hampton (village), New York
The Village of East Hampton is a village in Town of East Hampton, New York. It is located in Suffolk County, on the South Fork of eastern Long Island...
—the most ever paid for a residential property at that time—from Adelaide de Menil, heiress to the Schlumberger
Schlumberger
Schlumberger Limited is the world's largest oilfield services company. Schlumberger employs over 110,000 people of more than 140 nationalities working in approximately 80 countries...
fortune. de Menil's house had been built by piecing together historic East Hampton buildings that she moved to the property to protect them from demolition. Prior to the close of the sale, de Menil broke up the structures and moved them to various locations in the town for protection, including six that were moved a mile north to where they will form the new campus of the East Hampton Town government. Baron is now completing a new 28000 square feet (2,601.3 m²) house, designed by Hart Howerton, a New York architectural firm with several other projects in the Hamptons, which specializes in large-scale land use. The house was included in a recent Vanity Fair article on out-sized building projects in the famous summer home community.
The company, which owned 59% of Sotheby's
Sotheby's
Sotheby's is the world's fourth oldest auction house in continuous operation.-History:The oldest auction house in operation is the Stockholms Auktionsverk founded in 1674, the second oldest is Göteborgs Auktionsverk founded in 1681 and third oldest being founded in 1731, all Swedish...
Class A stock, lost nearly $267 million when Sotheby's was accused of collusion with Christie's
Christie's
Christie's is an art business and a fine arts auction house.- History :The official company literature states that founder James Christie conducted the first sale in London, England, on 5 December 1766, and the earliest auction catalogue the company retains is from December 1766...
in 2000.