Paul Wachter

Paul David Wachter is an American businessman and investment adviser whose clients include Arnold Schwarzenegger,[1] LeBron James,[1] U2 frontman Bono,[2] Beats by Dre co-founder Jimmy Iovine,[3] Drake, Billie Eilish and Tom Werner, Chairman of the Boston Red Sox and the Liverpool Football Club.[1][4] He has played a leading role in high-profile investment deals including the 2002 acquisition of the Boston Red Sox by New England Sports Ventures (now Fenway Sports Group), an ownership group he became partner to in 2021.[5][6] Wachter was also a founding member of the board of Beats Electronics since 2008 and led the negotiation of the Beats sale to Apple.[7] Along with LeBron James, he was among the executive producers of the Starz scripted series, Survivor's Remorse, and HBO’s What’s My Name, a documentary on Muhammad Ali, and is the executive producer of the 2023 Netflix series Arnold.[8][9][10] He is now Chairman of the Board of United Talent Agency (UTA).[11]

Not to be confused with the Survivor contestant named Paul Wachter.
Paul Wachter
Born1956 (age 66–67)
NationalityAmerican
EducationWharton School of the University of Pennsylvania (B.S.)
Columbia Law School (J.D.)
Occupation(s)Investment advisor, entrepreneur, television producer
Spouse
Liza Atkins
​
(m. 1987)​

Education

Wachter is a graduate of Riverdale Country School in The Bronx, New York. In 1978, he graduated magna cum laude and Beta Gamma Sigma from the Wharton School of the University of Pennsylvania, and in 1981, he earned his juris doctor from Columbia University Law School, where he was a James Kent Scholar and a Harlan Fiske Stone Scholar.[12]

Career

Wachter is founder and CEO of financial and asset management advisory firm Main Street Advisors.[13] The company was founded in 1997.[13] Previously, Wachter was an investment banker for Schroder & Co. Incorporated, Kidder, Peabody & Co. and Bear, Stearns & Company.[13][14]

In 2002, Wachter advised John W. Henry and Tom Werner on the New England Sports Ventures' acquisition of the Boston Red Sox.[5][6] Henry was principal owner and Werner was executive chairman. In 2001, New England Sports Ventures changed its name to Fenway Sports Group.[15]

Wachter has been LeBron James' financial advisor since 2004.[1] He "routinely connects James with business heavyweights" such as Warren Buffett[1] and has helped James "ink various investment and partnership deals".[14] He negotiated James' notable lifetime Nike deal in 2015, which has been reported to reach a lifetime total of over $1 billion.[16][17][18][19] Wachter conceived of a deal between James and Fenway Sports Group, which gave James a minority interest in the FSG-owned soccer club Liverpool.[1]

In 2004, then-California governor Arnold Schwarzenegger appointed Wachter to the University of California Board of Regents[13] where he remained until 2016.[20][21] Wachter has known Schwarzenegger since the late 1970s and has managed his investments.[14][22] He acted as an advisor and strategist to Schwarzenegger's 2003 and 2006 campaigns and transition teams.[13] Wachter was also the trustee for Schwarzenegger's blind trust during Schwarzenegger's time as Governor and is a senior financial advisor for the former Governor.[23]

Wachter is also associated with other investments such as Kate Farm, Dave's Hot Chicken, Zwift, the TPG Growth fund, the Beverly Hilton, Waldorf Astoria Beverly Hills, Blaze Pizza, and other properties.[4][24][25] Through Main Street Advisors, he is also a founding investor of Ladder, a company founded with LeBron James, Arnold Schwarzenegger, Cindy Crawford and Lindsey Vonn in 2018, NTWRK, a digital e-commerce company co-founded with Jimmy Iovine and Warner Bros. Studios, and 88Rising, a music entertainment and mass media company with a focus on Asian and Asian American artists.[4][26][27]

Wachter was executive producer of the Starz scripted series, Survivor's Remorse, and HBO’s What’s My Name, a documentary on Muhammad Ali, winner of the 2020 PGA Award for Outstanding Sports Program and the 2020 Sports Emmy.[4][28] He co-founded Lobos 1707 with Diego Osorio, LeBron James and Maverick Carter in 2020.[29]

In March 2021, Wachter led negotiations for himself, LeBron James and Maverick Carter to become partners in the Fenway Sports Group alongside RedBird Capital Partners, in exchange for their minority stake in Liverpool Football Club.[30] In 2021, Wachter executive produced the animated streaming series Superhero Kindergarten, based on the comic book series of the same name by Stan Lee.[31] Wachter is the Executive Producer of Netflix's Arnold, a documentary on Arnold Schwarzenegger.[32]

Boards

Wachter served on Time Warner's board of directors from 2010 until its acquisition by AT&T in 2018, and was on the board of Beats Electronics since the inception of the company until its purchase by Apple in 2014.[13][14] He also served on the board of Beats Music.[33] He served on the American Skiing Company's board from 1996 to 2008 and also serves on the Board of Councilors of the Jimmy Iovine and Andre Young Academy at USC.[13][34]

Wachter has also served on the boards of Virgin America until its acquisition by Alaska Airlines in 2016, ATTN:, Ladder, Haworth Marketing and Media Company and Content Partners, LLC.[35][36][37] He serves on the board of LeBron James’ and Maverick Carter's SpringHill Entertainment, a video production company, and Uninterrupted, a digital platform for athletes.[38] He also serves on the Board of Trustees for Berklee College and as Chairman of After-School All-Stars, a national non-profit that partners with schools to expand the learning day for at risk children.[39][40] He is now Chairman of the Board of United Talent Agency (UTA).[41]

Personal life

On May 31, 1987, Wachter married Liza Atkins in a Jewish ceremony at the Bel-Air Bay Club in Los Angeles.[12]

References
  1. Bergeron, Elena. "Very smart player". ESPN.com. ESPN. Retrieved 26 May 2015.
  2. Hochschild, Rob. "Career Advice from the Advisor to Lebron, Schwarzenegger, and Jimmy Iovine". Berklee. Retrieved 12 May 2016.
  3. Sullivan, Gail (12 June 2014). "Report: LeBron James set for $30 million profit on Apple-Beats deal". The Washington Post. Retrieved 27 May 2015.
  4. "Meet the L.A. investor advising LeBron James, Bono, and Billie Eilish". Fast Company. March 9, 2021.
  5. Futterman, Matthew (7 April 2011). "LeBron James, Fenway in Deal". The Wall Street Journal. The Wall Street Journal. Retrieved 27 May 2015.
  6. Roberts, Daniel (13 April 2011). "LeBron's Liverpool deal: A sign of what's to come". Fortune. Fortune. Retrieved 27 May 2015.
  7. Tweedie, Steven (7 April 2015). "The story of how Jimmy Iovine helped Apple strike a deal for HBO Now". Business Insider. Business Insider. Retrieved 27 May 2015.
  8. O'Connell, Michael (10 October 2014). "Starz Hands 'Survivor's Remorse' a Speedy Renewal". The Hollywood Reporter. The Hollywood Reporter. Retrieved 27 May 2015.
  9. "Deadline: Starz CEO Chris Albrecht On 'Survivor's Remorse' Cancellation: "We Gave The Show A Real Shot"".
  10. "LeBron James, Maverick Carter to produce Muhammad Ali HBO documentary". USA Today. December 12, 2016.
  11. "UTA Adds Paul Wachter and Ceci Kurzman to Board, Wachter to Serve as Chairman as Jim Berkus Steps Down". Variety. Retrieved 2023-02-02.
  12. "Liza Beth Atkins Is the Bride of Paul D. Wachter". New York Times. Style. June 1, 1987. Retrieved December 8, 2017.
  13. "Regent Paul D. Wachter". University of California. University of California. Archived from the original on 1 October 2013. Retrieved 27 May 2015.
  14. Farrell, Maureen (18 July 2014). "Why Time Warner Might Sell: A Board with Lots of Mega-Deal Makers". MoneyBeat. The Wall Street Journal. Retrieved 27 May 2015.
  15. "NESV becomes Fenway Sports Group". Boston.com. Boston.com. 22 March 2011. Retrieved 27 May 2015.
  16. "LeBron James's Nike deal may be worth more than $1 billion". Sports Illustrated. 17 May 2016.
  17. Darren Rovell (8 December 2015). "LeBron James signs lifetime Nike deal". ESPN.
  18. "The man behind LeBron's lifetime deal with Nike". ESPN. 8 December 2015.
  19. Scott Davis (December 9, 2015). "We're getting a better idea of how much LeBron James' new deal with Nike is worth, and it sounds like a monster". Business Insider.
  20. "Daily Californian: UC investment office faces high staff turnover, emails suggest".
  21. "UC: THE REGENTS OF THE UNIVERSITY OF CALIFORNIA MEETING AS A COMMITTEE OF THE WHOLE" (PDF).
  22. Cieply, Michael; Cohn, Gary; Eller, Claudia; Vincent, Roger (10 August 2003). "Schwarzenegger Built a Vast Business Empire". Los Angeles Times. Retrieved 27 May 2015.
  23. Peter Byrne (February 15, 2005). "The truth about Arnold". Salon.
  24. de la Merced, Michael J. (26 April 2015). "At TPG, a Low-Profile Fund's Diversity Thrives". DealBook. The New York Times. Retrieved 27 May 2015.
  25. Darren Rovell (October 10, 2015). "LeBron James leaving McDonald's, investing in pizza franchise Blaze". ESPN.
  26. "LeBron James, Other Celebrities Team Up to Start Wellness Brand 'Ladder'". Wall Street Journal. November 27, 2018.
  27. "Agenda Founder Levant Unveils New Project". California Apparel News. June 7, 2018.
  28. "PGA Awards: '1917' Wins Best Picture; 'Fleabag', 'Succession' Top TV". Deadline Hollywood. January 18, 2020.
  29. "LeBron James Is Toasting the Tequila Market". Wall Street Journal. November 18, 2020.
  30. "Boston Red Sox owner valued at $7.35 billion on investment from LeBron James and RedBird". Reuters. March 31, 2021.
  31. Couch, Aaron (May 29, 2019). "Arnold Schwarzenegger Lending Voice to Stan Lee's 'Superhero Kindergarten'". The Hollywood Reporter. Valence Media. Retrieved May 14, 2021.
  32. "Netflix Releases Arnold Schwarzenegger Documentary Trailer". The Hollywood Reporter. May 10, 2023.
  33. "Beats wins in case that accused Dr. Dre and Jimmy Iovine of double-crossing investor". Los Angeles Times. August 30, 2016.
  34. "Can Jimmy Iovine and Dr. Dre Save the Music Industry?". Wired. August 1, 2015.
  35. "VIRGIN AMERICA EXPANDS BOARD OF DIRECTORS WITH APPOINTMENT OF JENNIFER VOGEL AND PAUL WACHTER". Virgin America. Retrieved 14 August 2015.
  36. "Paul D. Wachter". Time Warner. Retrieved 8 August 2016.
  37. "L.A. digital media firm Attn: expands from bite-sized videos to TV specials". Los Angeles Times. May 29, 2018.
  38. "LeBron: The Sequel". ESPN. February 15, 2017.
  39. "Paul D. Wachter". After School All-Stars. After School All-Stars. Retrieved 27 May 2015.
  40. "Paul D. Wachter". Berklee. Board of Trustees. Retrieved 11 June 2021.
  41. "UTA Adds Paul Wachter and Ceci Kurzman to Board, Wachter to Serve as Chairman as Jim Berkus Steps Down". Variety. Retrieved 2023-02-02.
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