Fred Wilpon Net Worth is$500 Million
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deserves the money?
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Would you date ?
Rating: 2.3/5 (6 votes cast)
Profession: Businessperson

Date of Birth: 1936

Ethnicity: White American

Country: United States of America

Mets Owner Fred Wilpon lost a reported $700 million in the Bernie Madoff ponzi scheme fraud.
Fred Wilpon (born November 22, 1936Bensonhurst, Brooklyn) is a real estate developer, baseball executive and the majority owner of the New York Mets.
Wilpon bought a one-percent stake in the Mets in 1980, when Charles Shipman Payson sold the team, with Doubleday & Co. holding the remaining interest. In 1986, Doubleday president Nelson Doubleday, Jr. sold off his company, and he and Wilpon each bought a 50 percent stake in the Mets to become full partners. In 2002, the Wilpon Family purchased the remaining 50% of the Mets from Doubleday for $135 million.
Wilpon served as president of the team between 1980 to 2002, as Chief Executive Officer since 1980 and as Chairman of the Board since 2003. Wilpon currently serves as Chairman of Sterling Equities. His son, Jeff, is the COO of the Mets and executive vice president of Sterling.
Wilpon is a 1958 graduate of the University of Michigan.
Wilpon was one of the investors who invested a significant amount of money with Bernard Madoff which was lost when the Ponzi scheme collapsed in December 2008. It was reported that Wilpon had "lost" about $700 million because of Madoff, which has led to speculation that he may be forced to sell the team. Since then Wilpon has said that his losses were "substantially less" than that figure. Reports later surfaced that Wilpon and his family actually made about $300 million with Madoff and had not lost money as previously reported. As a result in December 2010, Wilpon was named in a lawsuit filed by Irving Picard on behalf of the victims of Madoff's investment scandal and on January 28, 2011 Wilpon issued a statement seeking "one or more strategic partners" interested in buying 20 to 25% interest in the Mets to offset pending losses due to litigation (which may total up to $1 billion). Wilpon and his partner and brother-in-law Saul Katz were involved in another Ponzi scheme which was orchestrated by Samuel Israel III and they were forced to pay $13 million to investors when Israe

Fred Wilpon Net Worth, 2.3 out of 5 based on 6 ratings

Fred Wilpon Latest News

Mets Trade David Wright For David Wright Rookie Card

“That thing is going to cost us five dollars, which [Mets owner] Fred Wilpon just gave me after a mere 48 hours of pleading. So I don’t want to hear about how cheap we are.”
Posted: August 20, 2017, 8:21 am

It could be up to Collins whether he's back in 2018

Mets owner Fred Wilpon is known for being incredibly loyal, and he still admires and appreciates Collins. So, in the end, the decision to stay, retire, or accept a different position may be left for Collins to decide. Alderson, too, is a stand-up ...
Posted: August 6, 2017, 5:00 pm

Mets have only themselves to blame for cheap shots

Nobody. Literally. Nobody. The team wasn’t foisted upon the Wilpon family; the Wilpons carefully grew their stake in the team and then booted Nelson Doubleday. They wanted this. They wanted the Mets, and New York. Fred Wilpon has been a part of all this ...
Posted: August 19, 2017, 1:16 am

Bernie Madoff, Fred Wilpon and The Mets: A 35-Year History

ABC News Chief Investigative Correspondent Brian Ross told "The ... the New York City suburb where both families lived. Bernie's son Mark and Fred Wilpon's son Jeff became close friends while in school. "Those kids grew up together, Jeff Wilpon and the ...
Posted: February 17, 2011, 3:40 pm

Lupica: Madoff defends Wilpon from jail

But when Henriques asks Madoff about Fred Wilpon and Saul Katz of the Mets, whom the trustee Picard says did know or should have known about Madoff's fraud in a legal document that runs to nearly 400 pages, this is what Madoff, the guy who does know ...
Posted: February 15, 2011, 8:00 pm
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