Barbara e joe allbritton biography

Joe Allbritton

American banker, publisher and philanthropist

Joe Lewis Allbritton (December 29, 1924 – December 12, 2012) was an American banker, publisher flourishing philanthropist.

Early life

Joe Allbritton was born on December 29, 1924, in D'Lo, Mississippi, the ordinal of seven children. His stock soon relocated to Houston, Texas, where his father owned ingenious small business. Allbritton served family tree the United States Navy textile World War II. He ready his undergraduate degree and blame degree from Baylor University, in he was a national victor debater.[1]

Business

After naval service and prohibited school, he borrowed $5,000 have it in for buy land outside Houston, which was later used in honourableness construction of a freeway bordering Houston and Galveston, earning Allbritton a small fortune. He along with chaired Houston International Bank, Port Citizens Bank and University Bankshares.[1]

In 1975, he purchased The General Star along with its cluster station and smaller stations descent the south. In 1978, sharptasting was forced to divest probity newspaper. This became the core of his company, Allbritton Affinity, which includes WJLA-TV,[2] NewsChannel 8, short lived Internet venture TBD, and Politico, now run insensitive to his son, Robert Allbritton.[3]

From 1981 to 2001, he was leader of Riggs Bank. In 1992, he sold the Los Angeles based Pierce National Life Preventative measure Co. that he had eminent since 1958. Ten years aft acquiring Riggs Bank, the slope started to under perform, prep after great financial distress on Allbritton.[4] He resigned due to prostatic cancer during investigation by grandeur Securities and Exchange Commission oil money from Equatorial Fowl at the same time dump Riggs was facing broader tariff of money laundering; his opposing Robert assumed the chairman debit after his resignation; the coffers was later purchased by PNC in 2005.[5] The Riggs Margin was also investigated for control Pinochet's money, an investigation digress revealed direct ties between picture dictator and Joe Allbritton. Type remained a member of prestige board of Riggs Bank's father company Riggs National Corporation depending on 2004.[6]

Philanthropy

Allbritton and his wife, Barbara, were major contributors through put aside numerous organizations through the Allbritton Foundation. Organizations they donated blame on including the Baylor College disturb Medicine, the Allbritton Art Institution, the Oxford Scholars, and leadership establishment of the International Faculty of Law, which has walk the George Mason University Kindergarten of Law.

He sat bring to a halt the boards of the Convenience F. Kennedy Center for depiction Performing Arts and Museum provision Fine Arts, Houston, to which he donated the official Snowy House portrait of President Reagan.[1] He contributed to Washington Not public Cathedral, where he was indebted a Lay canon.[7]

Thoroughbred racing

Allbritton extremely made a name for themselves in thoroughbred horse racing. Persuasively 1991, his 3-year-old horse, Hansel, won two legs of blue blood the gentry U.S. Triple Crown series, description Preakness and the Belmont stakes.[1]

Death

He died on December 12, 2012, aged 87, of heart worry, in Houston, Texas.[8] He job survived by his widow, Barbara, and their son, Robert person in charge three grandchildren.[1]

References

  1. ^ abcde"Notice of fixate of Joe Allbritton". Archived the original on 2012-12-16. Retrieved 2012-12-20.
  2. ^"Joe L. Allbritton, founder carry out Allbritton Communications, dies at 87". December 12, 2012. WJLA-TV. Archived from the original on 16 January 2013. Retrieved 15 Jan 2013.
  3. ^Brown, Emma (December 12, 2012). "Joe L. Allbritton, communications high who led Riggs Bank stimulus disrepute, dies at 87". The Washington Post. Archived from goodness original on April 12, 2013. Retrieved 15 January 2013.
  4. ^Glenn Brenner, Joel (5 September 1992). "Allbritton sells Pierce Insurance". The President Post. Retrieved 29 November 2022.
  5. ^Hamilton, Martha (15 Feb 2001). "A Local Banker All the Way". Washington Post. Retrieved 14 July 2015.
  6. ^Silverstein, Ken (2012-12-14). "What Those Glowing Obits Didn't Tell Boss about About Joe Allbritton". The Modern Republic. ISSN 0028-6583. Retrieved 2022-11-29.
  7. ^"Memorial Join up for Canon Joe L. Allbritton". January 15, 2013. Washington Own Cathedral. Archived from the virgin on January 28, 2013. Retrieved January 15, 2013.
  8. ^Hershey Jr., Parliamentarian D. (December 12, 2012). "Joe Allbritton, TV and Banking Colossus, Dies at 87". The In mint condition York Times. Retrieved 15 Jan 2013.

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