Monday, September 15, 2014

Who Is Phil Falcone?

photo by Bloomberg

The New York Post reported this morning that Minnesota Wild co-owner Phil Falcone is interested in selling his minority stake in the Wild in order to become an investor with the Islanders.

Falcone is the founder of Harbinger Capital and LightSquared.  Harbinger Capital is a hedge fund firm based in New York City.  The main thing they are noted for is investing in the public equity and hedging markets.  Meanwhile, at LightSquared they are building a state of the art open wireless broadband network.  This company has come under fire recently for different violations and last month Falcone filed 'divorce papers' from the bankrupt business.

As of last year, Falcone had a net worth of 1.2 billion dollars which made him the 1175th richest person in the world and 377th richest person in the United States.

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