He married a German-Jewish man and had 11 children (eight sons). His business flourished as much as his extended family. He achieved rapid growth in the mining and smelting sectors. At the same time, he accumulated enormous wealth. He needed a company to manage his family’s assets. He was the beginning of a corporation called Guggenheim Partners.
About 100 years have passed. It is 2012. The troubled Dodgers is looking for a new owner. There are many places where they drool their mouths. Rich people in LA who are rich with money competed. The final winner was the legend of the NBA. It is a group of investors led by former Lakers Magic Johnson.
In fact, Magic Johnson plays the role of a face-to-face man. The stake is less than 5%. It is a casting given local public opinion. There is actually a major shareholder. It is an investment company based in New York. It is Guggenheim Partners. They paid $2.15 billion in cash for the purchase.
Guggenheim Partners started out as an individual asset management company. Based on the know-how gained from it, it expanded its business area. It attracted leading banks and insurance companies as customers. It successfully managed their assets and emerged as a powerful figure on Wall Street.
They are also participating in more businesses. The Dodgers’ acquisition is a good example. They are also increasing their investment in entertainment in LA and Hollywood. They acquired Dick Clark’s promotion, an entertainment production company. It is a place where they produce “You Can Dance,” a famous entertainment show, at the Golden Glove Awards. The acquisition price was 370 million U.S. dollars. (The Guggenheim Museum in New York is operated under the concept of a social project.)
He also opened a representative office in Tokyo, Japan (2014). He turned his attention to the Asian market. At one point, some Korean air funds submitted a letter of intent to invest in the Dodgers. Probably, it seems to be in a similar vein.
Let’s talk about 2012 again. It was when the Dodgers takeover bid took place. There was a contender by a familiar name. It was Steve Cohen. The two competed until the last minute, but the price gap was too wide. Guggenheim Partners reportedly paid 800 million dollars more than that.
At that time, the acquisition price was 2.15 billion U.S. dollars. It is now estimated at 4.8 billion dollars (based on Forbes). It has more than doubled in 11 years. Steve Cohen, who was pushed out, will take over the New York Mets eight years later. He paid 2.47 billion dollars. The Mets are currently valued at 2.9 billion dollars.
Some people are curious about that these days. Some people are even worried. What’s wrong with the Dodgers? They spend money like water. Will they be able to afford that much deferral? Will they be able to pay in 10 or 20 years? Will there be a problem with Ohtani’s remaining salary?
However, hold on to concerns. Given the company’s business history and size, it is useless. The company is well over 100 years old. In addition, Guggenheim Partners has assets worth 300 billion U.S. dollars. The amount is approximately 395 trillion won in Korean money. The amount is more than half of Korea’s budget (656 trillion won) for this year.
BY: 토토사이트링크