Jonathan M. Nelson Explained

Jonathan Nelson
Birth Name:Jonathan Milton Nelson
Birth Place:Providence, Rhode Island, U.S.
Occupation:Founder of Providence Equity Partners
Education:Brown University
Harvard Business School

Jonathan Milton Nelson (born 1956) is an American billionaire businessman. He is the founder of Providence Equity Partners, a global private equity firm based in Providence, Rhode Island, which manages funds with over US$45 billion in commitments.[1] [2] As of September 2023, Nelson's net worth is estimated by Forbes at $3.4 billion.[3]

Early life and education

Nelson grew up in Providence. He graduated from Brown University in 1977 with a Bachelor of Arts in economics. After graduation, he managed the Chinese division of Wellman, Inc.[4] On returning to the United States, he earned a Master of Business Administration from Harvard Business School in 1983.[5]

Career history

In 1983, Nelson joined Narragansett Capital, a private equity firm, where he was a managing director. At Narragansett, he specialized in the broadcasting, cable television and publishing sectors.[6]

In 1989, he founded Providence Equity Partners, a pioneering sector-focused private equity firm. It is the world's leading private equity investment firm focused on media, communications, education, and information investments.[7] He was dubbed the "stealth mogul" by The New York Times for keeping a low profile despite his firm's substantial media holdings.[8]

In 2008, Nelson and other Providence principals launched Providence's credit investment arm with Thomas Gahan of Deutsche Bank.[9] The unit is called Benefit Street Partners, which has US$9.16 billion (inflation-adjusted) under management.[10]

Nelson is on the boards of the Chernin Group, MLS Media, the Institute for Advanced Study in Princeton, New Jersey, Television Broadcasts Ltd and Univision Communications. he has also been a director of Eircom Plc, Hulu, Language Line, MetroNet (now AT&T Canada), VoiceStream Wireless (now Deutsche Telekom), Warner Music Group, (now Alltel Wireless) and Yankees Entertainment & Sports Network.[11]

Philanthropy and other activities

Educational philanthropy

As of March 2019, Nelson is listed as a Fellow of Brown University, and has previously been a trustee.[12] He has donated at least $36 million to the university, contributing to the construction of the Nelson Fitness Center[13] and establishment of the Nelson Center for Entrepreneurship and endowment of two professorships.[14] [15] In 2013, The Institute of Classical Architecture and Art named Nelson the winner of the Arthur Ross Award for Excellence In The Classical Tradition (Patronage) for his guidance of the design and construction of the Nelson Fitness Center.[16] In 2018, Following a $25 million gift from Nelson, Brown established the Nelson Center for Entrepreneurship.[15] Nelson is a trustee of Rockefeller University.[17] In August 2014, Harvard Business School gave Nelson an Alumni Achievement Award, the highest honor bestowed by the school on its graduates.[18]

Nelson has committed to the Giving Pledge, a campaign led by Warren Buffett and Bill Gates to encourage the wealthiest people in the United States to make a commitment to give most of their wealth to philanthropic causes.[19] He is on the board of the Newport Festivals Foundation. He is an avid sailor and big mountain skier.[3]

See also

External links

Notes and References

  1. Web site: Alistair Smith. Ambassador Theatre Group confirms sale to Providence Equity. The Stage. October 21, 2013.
    - News: Providence's China Head Said to Leave in Latest Asia Exit. Devin Banerjee and Meghan Morris. Bloomberg News. July 9, 2014.
  2. Web site: Onex Corp. to Buy Tes Global From Providence Equity Partners. 2022-01-27. MarketWatch. EN-US.
  3. Web site: Jonathan Nelson. September 6, 2023. Forbes. en.
  4. Web site: Mehta. Stephanie. Inside a record-breaking $51 billion buyout. CNN Money. September 27, 2012. dead. https://web.archive.org/web/20121101113043/http://money.cnn.com/2008/05/13/magazines/fortune/mehta_biggest_deal_ever.fortune/. November 1, 2012.
  5. Web site: Jonathan M. Nelson, MBA 1983 - Alumni - Harvard Business School. 2021-08-10. www.alumni.hbs.edu. 25 August 2014 .
  6. Web site: Speaker Profile: Jonathan Nelson. Miliken Institute. September 27, 2012.
  7. Web site: Members - PEGCC. 13 June 2012 . Private Equity Growth Capital Council. September 27, 2012.
  8. News: Sorkin. Andrew Ross. They're Just a Bunch of Regular Media Moguls. The New York Times . 14 September 2003 . September 27, 2012.
  9. News: Providence Expands Capital Markets Arm. Ken MacFadyen. Leveraged Finance News. June 21, 2010. November 13, 2014. March 10, 2016. https://web.archive.org/web/20160310145638/http://www.leveragedfinancenews.com/news/providence_expands_capital-markets_arm-202069-1.html. dead.
  10. News: Tommy Gahan Wants to Capitalize on Volatility. Julie Segal. Institutional Investor. November 12, 2014.
  11. Web site: Executive Profile: Jonathan Nelson. https://archive.today/20140828034542/http://investing.businessweek.com/research/stocks/private/person.asp?personId=71770&privcapId=22559&previousCapId=107534&previous. dead. August 28, 2014. businessweek.com. November 19, 2013.
  12. Web site: Brown Corporation elects one fellow, seven trustees. Brown University. September 27, 2012.
  13. Web site: Providence Equity's Jonathan Nelson Named to Fortune 400. GoLocalProv. September 27, 2012.
  14. Web site: Kaplan. Jennifer. New U. fund supports interdisciplinary efforts. Brown Daily Herald. September 27, 2012.
  15. Web site: Buchsbaum. Shira. 2016-02-01. Nelson '77 seeds entrepreneurship center. 2021-08-10. Brown Daily Herald. en-US.
  16. Web site: The Classicist. September 27, 2012.
  17. Web site: Jonathan Nelson. 2021-08-10. Forbes. en.
  18. News: 2014 Alumni Achievement Awards. Harvard University. August 25, 2014.
  19. Web site: Sweet. Ken. Two Private Equity Billionaires Sign Buffett's and Gates' Giving Pledge. The Wall Street Journal . September 27, 2012.