Chapter 183: TPG Capital
In a club in West Hollywood, Arthur's investment advisor, Jim Coulter, informed Arthur that he and investors David Bonderman and William S. Price III had just founded TPG Capital (Texas Pacific Group)!
"Texas Pacific Group?" Arthur's expression changed. This would be the future well-known private equity giant TPG Capital.
Last year, Arthur had just set up his private investment company, California Pacific Investment Company.
Arthur reminded him, "Previously, the $100 million from German capital borrowing, Galaxy spent $60 million to acquire ESPN's shares.
The remaining $40 million will be my support for you to establish Texas Pacific Capital. Is the first stop the Soviet Union? Oh, I almost forgot," Arthur laughed and held his forehead, "There is no Soviet Union anymore; it's Russia, right?"
Jim Coulter nodded, "Russia has just started shock therapy. It's a good opportunity, and we will head to Moscow right away!"
With the ruble devaluing, the financial colonization plans laid by European and American capital over the years were about to pay off. The wealth accumulated over seventy years was about to be scattered.
Arthur looked at Jim Coulter, "Go boldly. The devaluation of the ruble should be unprecedented. The major players are the European and American governments. We can at least follow along and get a piece of the pie!"
Listening to Arthur, Jim Coulter felt reassured. Arthur was fully supporting joining the wealth grab in Russia. With Arthur Smith's $40 million, he also felt more confident.
"By the way, David Bonderman is the investment advisor for the Texas oil family, the Bass family, right?" Arthur suddenly asked.
"That's right. David has worked at Robert Bass's family investment company for over a decade," Jim Coulter didn't know why Arthur was asking, but he had nothing to hide.
Arthur smiled, "Nothing much. This Bass family owns 6.3% of Disney's shares and is a major shareholder in Disney. I've met Sid Bass before and seem to remember David Bonderman. Plus, Michael Eisner's appointment at Disney was supported by the Bass family!"
Arthur always paid attention to the major shareholders in Hollywood entertainment groups.
The voice of major shareholders in listed companies cannot be underestimated. The Bass family, an old Texas oil family, was not comparable to the Lakers' Buss family;
Sid Bass, the Bass family's representative at Disney, had a close relationship with Michael Eisner. Disney could become Eisner's one-man show thanks to Sid Bass's support.
"I see," Jim Coulter understood.
Arthur then asked, "When are you going to Moscow?"
"Next week, the sooner, the better!"
After chatting with Jim Coulter, Arthur left the club and ran into Ted Turner and Jane Fonda, who had just remarried last year; the media mogul, chairman of TBS, and the seasoned Hollywood actress.
"Arthur, long time no see!" Ted Turner had considered acquiring several independent film companies like Galaxy and New Line at a party last year. Although he hadn't succeeded, they had met.
"Congratulations on your marriage!" Arthur smiled and offered his blessings, "Ms. Fonda's announcement of retirement after her marriage last year was a loss for Hollywood!"
Jane Fonda, from a famous Hollywood film family, was the daughter of Henry Fonda, and both had won several Oscars.
Jane Fonda smiled. Although she was already 55 this year, she was famous for maintaining her figure as a Hollywood beauty in her youth.
She was also a famous fitness expert, and her fitness videos sold very well, which was the main reason she could maintain her figure. Before announcing her retirement, she had already made fitness her career.
"Arthur, Hollywood needs young blood like you," Jane Fonda said, hoping to build a good relationship with the now hot producer, Arthur Smith.
Ted Turner also patted Arthur on the shoulder and asked with some implication, "Arthur, what do you think about this year's election?"
"The presidential election?" Arthur smiled. Ted Turner held the powerful CNN.
"In recent years, we won the Gulf War, the Warsaw Pact dissolved, and the Soviet Union collapsed, ending the Cold War. Bush's support is not low now."
Ted Turner could tell from Arthur's expression that he had more to say, so he listened quietly. Sure enough, Arthur continued, "Unfortunately, Bush broke his campaign promise by raising taxes, offending the conservative faction within his party.
Launching the war and a series of diplomatic achievements indeed achieved great results, but the economic prosperity of the Reagan era was not inherited. Now, with the fiscal deficit increasing and unemployment rising, ordinary voters are easily swayed. Especially now, not only the Republican Party but even the president himself thinks he will be re-elected!"
Arthur sneered, "There are plenty of cases where things go awry. Ordinary voters care more about how to improve the economy."
Ted Turner nodded, "Indeed, economic issues are paramount. Two consecutive Republican presidents; it's time for a change!"
Reagan and Bush were both Republicans;
Now, Hollywood was not the Democratic stronghold. During Reagan's era, Hollywood was a supporter of the Republican Party.
"It's still early. Let's wait until the Democratic Party selects its candidate for the race," Arthur knew Hollywood couldn't stay out of Washington, and celebrities were always a powerful means of drawing votes.
Ted Turner and Jane Fonda were both active political participants. Arthur never thought he could stay out of it either; Who knows if Arkansas Governor Clinton had decided to run?
Anyway, it didn't matter who became president; Arthur just hoped to get the maximum return with the least effort!
"Arthur, I hope you'll join when there's a political fundraising event," Ted Turner, known as the "Mouth of the South," was an independent media mogul who dared to say anything.
Arthur smiled, "Sure, I'll join if there's an opportunity!"
Given Arthur's age in his twenties, he wasn't really suited for these political activities. Unfortunately, Hollywood's ties with politicians were too close.
*****
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