Former Ryanair chairman and US billionaire David Bonderman passed away at the age of 82.
The private equity firm TPG, which Mr Bonderman co-founded, went public in 2022 and is currently valued at over $24 billion.
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From 1996 until 2020, he served as Ryanair's non-executive chairman. He was born in Los Angeles and is a former civil rights attorney. His reputation was irreverent. After stating that there would probably "be more talking" if more women were on the board, he resigned from the Uber board in 2017.
After being courted by founder Tony Ryan, TPG invested in Ryanair in 1996.
In a rare interview with the Irish Independent in 2015, he said, "We thought that the airline had great possibilities, but I don't think that anyone foresaw that Ryanair would be the stunning success that it has been."
By leading large firm takeovers, bailouts of failing businesses, and start-up investments, Mr. Bonderman at TPG became a millionaire.
He headed a group of financial entrepreneurs who transformed nascent private equity "buyout shops" into dominant Wall Street firms. David Rubenstein, Steve Schwarzman, and Henry Kravis are among the others.
Mr. Bonderman had a knack for placing unusual wagers. About his investing strategy, he stated, "Returns tend to be better in places where either the troops are in the street, or the prices are low,"
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Leading a $450 million recapitalisation of Continental Airlines during its second bankruptcy was his first significant deal in 1993. When TPG sold its share of the airline, it made nine times as much money.
As a venture capitalist, Mr. Bonderman and his company placed early and profitable wagers on Uber, Spotify, and Airbnb.
"David is a contrarian par excellence," TPG partner Clive Bode praised Mr. Bonderman's corporate citizenship in a 2016 video. "He enjoys intricate, absurdly risky transactions. He is not deterred by complexity or difficulty.
He worked as a lawyer before going into finance, handling matters including insider trading, civil rights, and historic preservation.
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