Ted Forstmann, one of the legendary investors who was an early pioneer in the leverage-buyout business has died at the age of 71 in his New York City home after battling with brain cancer. Forstmann was the principal of Forstmann Little & Company.
He is widely regarded as the source for the quip that resulted in the title of the book, Barbarians at the Gate by Bryan Burrough and John Helyar. Though he is well-known for quite a few buyouts, including those of Dr. Pepper, (s dps) 24 Hour Fitness, and Gulfstream Aerospace (s gd), Forstmann was one of the many legendary investors who lost a lot of money betting on the telecom companies at the turn of the century. He was one of the key characters in my book, Broadbandits.
He had invested in XO Communications and McLeodUSA. He started with a $1 billion investment in McLeodUSA of Cedar Rapids, Ind. and in the end, invested almost $3 billion in telecom companies. Those investments resulted in the State of Connecticut suing Forstmann Little. His firm has not had a web presence since 2000, when it shuttered its website. He was most recently the CEO and chairman of sports management agency, IMG. The New York Times (s nyt) has reactions from his peers in the buyout business.
Ted Forstmann, legendary investor dies at 71 http://t.co/upRhDXA7
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Ted Forstmann, legendary investor dies at 71 http://t.co/SHC9WGms (via @gigaom)
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Ted Forstmann, legendary investor dies at 71 http://t.co/xagBhLsh #technology
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Ted Forstmann, legendary investor dies at 71 http://t.co/e8dd6bRK
Ted Forstmann, legendary investor dies at 71 http://t.co/b1RRm1BC
RT @gigaom: Ted Forstmann, legendary investor dies at 71 http://t.co/cN5lfBcM
RT @gigaom: Ted Forstmann, legendary investor dies at 71 http://t.co/cN5lfBcM
gigaom: Ted Forstmann, legendary investor dies at 71 http://t.co/aNOjViNE
Ted Forstmann, legendary investor dies at 71 http://t.co/hbjEjxL0 via Om Malik
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Had no idea he was that old. RIP. RT @filos Ted Forstmann, legendary investor dies at 71 http://t.co/85HNXFYt
Ted Forstmann, legendary investor dies at 71 http://t.co/BzV8Ph2I
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Social News – Ted Forstmann, legendary investor dies at 71 http://t.co/bigNh5jp
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NinetyTen Ted Forstmann, legendary investor dies at 71: Ted Forstmann, one of the legendary investors who was an… http://t.co/RcWdc9VN
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Key source for “Barbarians at the Gate” – great biz bookl RT @gigaom: Ted Forstmann, legendary investor dies at 71 http://t.co/IGy2wta6
Ted Forstmann, legendary investor dies at 71: Ted Forstmann, one of the legendary investors who was an early pio… http://t.co/l9ylk2e4
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Ted Forstmann, legendary investor dies at 71 http://t.co/9RdSPLeT
Ted Forstmann, legendary investor dies at 71 http://t.co/z6XtlyZi
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RT@om Ted Forstmann, legendary investor dies at 71 http://t.co/3Fcdfouw
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Ted Forstmann, legendary investor dies at 71 http://t.co/Lj5myNkO
Ted Forstmann, legendary investor dies at 71 http://t.co/ZrBkTOT6
Ted Forstmann, legendary investor dies at 71 http://t.co/IiL0Pi74
Ted Forstmann, legendary investor dies at 71 http://t.co/G2u4CDWl (Good philanthropist. Went to boarding school with his sons.)
RT @om: Ted Forstmann, legendary investor dies at 71 http://t.co/5aIsOCZV
Ted Forstmann, legendary investor dies at 71 – Ted Forstmann, one of the legendary investors who was an early pionee… http://t.co/MK76dEqB
Ted Forstmann, legendary investor dies at 71 – Ted Forstmann, one of the legendary investors who was an early pionee… http://t.co/fA4WKoEw
Ted Forstmann, legendary investor dies at 71: Ted Forstmann, one of the legendary investors who was an early pio… http://t.co/efMUeOlJ
RT @om: Ted Forstmann, legendary investor dies at 71 http://t.co/5aIsOCZV
RT @om: Ted Forstmann, legendary investor dies at 71 http://t.co/5aIsOCZV
RT @om: Ted Forstmann, legendary investor dies at 71 http://t.co/5aIsOCZV
RT @TugaK: Ted Forstmann, legendary investor dies at 71 http://t.co/KriddSOq
RT @TugaK: Ted Forstmann, legendary investor dies at 71 http://t.co/KriddSOq
RT @TugaK: Ted Forstmann, legendary investor dies at 71 http://t.co/KriddSOq
RT @TugaK: Ted Forstmann, legendary investor dies at 71 http://t.co/KriddSOq
RT @TugaK: Ted Forstmann, legendary investor dies at 71 http://t.co/KriddSOq
RT @TugaK: Ted Forstmann, legendary investor dies at 71 http://t.co/KriddSOq
RT @TugaK: Ted Forstmann, legendary investor dies at 71 http://t.co/KriddSOq
RT @TugaK: Ted Forstmann, legendary investor dies at 71 http://t.co/KriddSOq
RT @TugaK: Ted Forstmann, legendary investor dies at 71 http://t.co/KriddSOq
RT @TugaK: Ted Forstmann, legendary investor dies at 71 http://t.co/KriddSOq
RT @om: Ted Forstmann, legendary investor dies at 71 http://t.co/5aIsOCZV
Mr. Leveraged Buyout has passed on RT @om: Ted Forstmann, legendary investor dies at 71 http://t.co/trsjU8Wd
Ted Forstmann, legendary investor dies at 71 http://t.co/P4x8jiNN
RT@om Ted Forstmann, legendary investor dies at 71 http://t.co/gL6LAGR5
RT @om: Ted Forstmann, legendary investor dies at 71 http://t.co/P4x8jiNN
RT @om: Ted Forstmann, legendary investor dies at 71 http://t.co/P4x8jiNN
condolences to his family.