Michael Price
USABiography of Michael Price
Michael Price was born on May 17, 1953, in the United States. He obtained his higher education at the University of Oklahoma. He is married and has four children. With a net worth of $1.7 billion in 2008, Michael Price ranks among the wealthiest individuals in the United States, according to Forbes.
Early Career
Price began his career in 1975 when he joined Max Heine's company, "Mutual Series." By 1982, he became a full partner of Heine and, following Heine's death in 1988, assumed the positions of president and chairman of the company. In 1996, "Mutual Series" merged with "Franklin Templeton Investments." However, by 1998, Price's authority within the company started diminishing as younger competitors emerged and began to outshine him.
Establishing MFP Investors
In 2001, Price decided to leave his position as chairman of the board to establish his own investment fund. He successfully sold "Heine Securities" to a major American investment company for $670 million, providing him with a solid start for his new venture. Price's company was named "MFP Investors" and had assets of approximately $1.6 billion.
Philanthropy
In addition to his successful business career, Michael Price actively engages in philanthropy. He has donated tens of millions of dollars to his alma mater, the University of Oklahoma, to support education. Price believes that the future of the nation lies in well-educated individuals. He recently made a significant contribution to the restoration of the Albert Einstein Medical College, resulting in the college being renamed in his honor. Furthermore, Price has generously donated funds to purchase expensive medical equipment for healthcare institutions in his state. He also pays attention to children's shelters and families in need, establishing a special committee to work in this area.
