243:, to repay a loan, Musser was forced to sell 6.5 million of his shares in Safeguard Scientifics for $ 8.25 per share, or $ 53.7 million. The stock price was down over 90% from the peak of $ 99 per share 9 months earlier. This left him with 560,000 shares in the company. In 2003, Musser defaulted on a $ 26.5 million loan from Safeguard Scientifics.
189:. The next year, he left the company with others to form their own company. In 1955, his company acquired Safe-Guard Corporation and in 1966, Musser's firm changed its name to Safeguard Industries. Musser invested in technology companies in
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485:"Following The Money Some 680 men, women, techies, and, yes, schools got pre-IPO shares of Internet highflier ICG. Here's how they became insiders and what they did as the stock crashed"
261:
Musser's son, Craig, a renowned kaleidoscope artist under the name Van Dyke, was partnered with Bruce Darda, a New York based tech executive, at the time of his death from AIDS in 1986.
654:"THE AIDS MEMORIAL on Instagram: "— Eric Ashworth (November 6, 1957 — July 20, 1997) was a literary agent who died of AIDS in Manhattan. He was 39 years old - Ashworth…""
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Musser spent lavishly on his residences, building his-and-hers tennis courts on his
Nantucket residence and spending $ 100,000 on special garage doors.
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464:"Pete Musser built his company over 40 years. Then he was Seduced by the Internet. And his billion-dollar fortune melted away"
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Musser married and divorced Betty K. Musser (née Umstad) and then Hilary
Grinker Musser, who was 39 years younger than him.
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Musser was a philanthropist and The Musser
Foundation has donated over $ 50 million to organizations including the
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220:), they asked Musser for $ 5 million in funding, but he insisted on investing $ 15 million. At the height of the
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from 1996, when the company acquired properties from a joint venture of
Safeguard Scientifics, until 2002.
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423:"Lehigh U. Receives $ 10 Million Alumnus Warren Musser Donates The Largest Sum Ever From An Individual"
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110:(December 15, 1926 – November 25, 2019) was the chairman of the Musser Group. He was the founder of
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224:, the company had a market capitalization of almost $ 60 billion, making Musser a paper
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718:"Warren 'Pete' Musser, longtime Pennsylvania investor, dead at 92; service Feb. 8"
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on paper; however, when the bubble burst, he lost almost his entire fortune.
185:
In 1952, at the age of 25, Musser went to work as a stockbroker trainee for
662:
443:
232:, and in December 2000, he borrowed $ 14.1 million from Tyco executives
574:"SAFEGUARD SCIENTIFICS, INC. September 2003 Form 10-Q Quarterly Report"
371:"Famed Philly investor Pete Musser has a word of warning for Elon Musk"
209:
198:
448:
202:
345:"Life After Lehman Brothers: Dick Fuld's Murky Investment Secrets"
216:
left
Safeguard Scientifics to form Internet Capital Group (later
118:
firm that invested in technology companies. At the peak of the
194:
530:"Tyco's Dealings With Musser Are Examined by Prosecutors"
509:"Board Member Of Tyco Unit Owed Millions To 2 Executives"
528:
Cohen, Laurie P.; Maremont, Mark (September 24, 2002).
685:"Republican Federal Cmte of Pennsylvania Contributors"
141:. The Musser Award for Excellence in Leadership from
771:
Knights
Commander of the Order of the British Empire
634:"$ 3M opening auction bid sought for Musser mansion"
554:"Safeguard CEO, wife borrow $ 14M on vacation house"
228:. Musser was a director of TyCom, a subsidiary of
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246:Musser was a member of the board of directors of
703:"Musser, legendary tech investor, passes away"
593:"Musser to step down as trustee of Brandywine"
239:On November 29, 2000, after the burst of the
8:
205:, which resulted in a $ 200 million profit.
18:
502:
500:
169:, area on December 15, 1926 and earned a
578:U.S. Securities and Exchange Commission
395:. Marquis Who's Who, LLC. August 1981.
289:Fund Raiser's Guide to Private Fortunes
279:
364:
362:
360:
271:causes. He died on November 25, 2019.
791:20th-century American philanthropists
613:"Betty K. Musser, 91, philanthropist"
143:Fox School of Business and Management
7:
786:People from Harrisburg, Pennsylvania
751:20th-century American businesspeople
591:Kostelni, Natalie (April 15, 2002).
632:Kostelni, Natalie (March 3, 2008).
483:Serwer, Andy (September 17, 2001).
442:Dubow, Charles (October 3, 2000).
14:
761:American financial businesspeople
507:Berenson, Alex (March 29, 2002).
392:Who's who in Finance and Industry
369:Torres, Roberto (July 20, 2017).
267:Musser also was a contributor to
766:Businesspeople from Philadelphia
321:"2001: Pete Musser's last stand"
16:American businessman (1926–2019)
639:American City Business Journals
598:American City Business Journals
559:American City Business Journals
552:Key, Peter (January 15, 2001).
326:American City Business Journals
155:Montgomery County, Pennsylvania
1:
319:Key, Peter (August 5, 2002).
173:in Industrial Engineering at
108:Warren Van Dyke "Pete" Musser
87:Chairman of the Musser Group
133:. Musser has served on the
807:
157:, are named after Musser.
756:American chief executives
618:The Philadelphia Inquirer
139:Cradle of Liberty Council
781:Pennsylvania Republicans
776:Lehigh University alumni
167:Harrisburg, Pennsylvania
161:Early life and education
151:Musser Scout Reservation
47:Harrisburg, Pennsylvania
541:(subscription required)
535:The Wall Street Journal
248:Brandywine Realty Trust
165:Musser was born in the
66:Bryn Mawr, Pennsylvania
444:"Silicon Valley Forge"
187:Hornblower & Weeks
33:Warren Van Dyke Musser
722:Philadelphia Inquirer
716:DiStefano, Joseph N.
131:Boy Scouts of America
112:Safeguard Scientifics
705:. November 26, 2019.
621:. February 14, 2015.
431:. February 16, 1996.
208:In March 1996, when
98:on paper during the
236:and Mark H. Swartz
171:Bachelor of Science
514:The New York Times
341:Gasparino, Charlie
230:Tyco International
135:board of directors
376:Technically Media
343:(March 5, 2016).
218:Actua Corporation
175:Lehigh University
147:Temple University
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78:Lehigh University
58:November 25, 2019
43:December 15, 1926
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292:. 1992-11-01.
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241:dot-com bubble
222:dot-com bubble
214:Walter Buckley
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120:dot-com bubble
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100:dot-com bubble
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92:Known for
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62:(aged 92)
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60:(2019-11-25)
746:2019 deaths
741:1926 births
689:OpenSecrets
226:billionaire
124:billionaire
96:Billionaire
23:Pete Musser
735:Categories
670:2019-04-17
408:2019-11-26
305:2019-11-26
275:References
269:Republican
84:Occupation
39:1926-12-15
658:Instagram
177:in 1949.
74:Education
193:such as
149:and the
490:Fortune
469:Fortune
210:Ken Fox
199:Comcast
137:of the
449:Forbes
399:
296:
203:Novell
201:, and
181:Career
68:, U.S.
49:, U.S.
397:ISBN
294:ISBN
212:and
114:, a
55:Died
29:Born
195:QVC
153:in
145:at
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37:(
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.