Sid Bass

Sid Richardson Bass
Born	(1942-04-09) April 9, 1942 Fort Worth, Texas, U.S.
Occupation(s)	Investor, Philanthropist
Known for	Investments in oil and gas; Major shareholder in The Walt Disney Company (1984–2001)

Sid Richardson Bass (born April 9, 1942) is a prominent American billionaire known for his investment ventures and philanthropic activities.

Early life and education

Bass, born on April 9, 1942, is the son of Perry Richardson Bass, who amassed an oil fortune alongside his uncle Sid W. Richardson. He completed his undergraduate studies at Yale University in 1965 and later obtained a degree from the Stanford Graduate School of Business.

Career

In 1968, Bass assumed leadership of the family enterprise, concentrating primarily on investments in oil and gas sectors. Together with his father and siblings, he held the position of largest shareholder in The Walt Disney Company from 1984 until the stock market downturn in 2001, which compelled him to liquidate his shares due to a margin call. He successfully expanded an initial inheritance of $50 million into an investment portfolio valued at $14 billion.

Following the events of September 11, 2001, Bass sold 135 million Disney shares at prices mostly below market value, triggering an 8.9% decline in Disney’s stock price. This transaction took Wall Street by surprise, sparking speculation about margin calls and the impact of his adviser Richard Rainwater’s departure in 1986 on his stake management. No formal statement explaining the sale was issued.

By 2007, Bass’s fortune was estimated at approximately $3 billion. As of 2020, he was ranked number 359 on Forbes’ list of wealthiest Americans.

Philanthropy

In 1990, Bass contributed $20 million to Yale University to support humanities programs. Alongside his second wife, Mercedes Bass, he donated $25 million to the Metropolitan Opera in 2006, marking the largest individual contribution in the institution’s history at that time.

Personal life

Bass’s first marriage was to Anne Hendricks Bass, with whom he had two daughters: author Hyatt Bass and Samantha Bass. The couple divorced in 1986. In 1988, he wed Iranian-American socialite Mercedes Bass, née Mercedes Kellogg; their marriage ended without children in divorce in 2011.