The most effective dealmaker most people haven’t heard of.
Before Richard Rainwater grew the Bass family fortune from $50M to $5B, he lost the first $5M they gave him. Perry Bass refused to fire him, calling the loss the cost of an expensive education.
What he did with the second shot is the entire story.
After founding Rainwater Inc. in 1986, he built Columbia into the largest hospital chain in the country from a $125,000 check, launched Natural Gas Partners with $800,000 of his own money, and took a position in Disney that grew to $2.5 billion.
And the investors he trained, Bonderman, Sternlicht, Ackman, Lampert, now run hundreds of billions of their own.
He ran the same play for two decades. Almost nobody knows what it was.
Watch the complete breakdown.
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