Legendary Investor Richard Rainwater Dies at 71
After long suffering from the rare brain disease progressive supranuclear palsy, legendary investor Richard Rainwater passed away yesterday morning in his home in Fort Worth, TX. He was 71 years old.
Richard grew up in a middle-class family, where his love and gift for mathematics would transform into a more than $2B fortune as a successful financial adviser, including big scores in real estate.
One of his biggest wins came from picking up more than 15M SF of downtown Houston real estate during a mid-1990s downturn—properties he later flipped for two or three times his purchase price.
After he was diagnosed, Richard's family invested $50M in the Tau Consortium, a group of international scientists devoted to find a cure to the brain disease. [WSJ]
