Jump to content

Glen Taylor: Difference between revisions

From Wikipedia, the free encyclopedia
Browse history interactively
← Previous editNext edit →
Content deleted Content added
VisualWikitext
mNo edit summary
Tags: Visual edit Mobile edit Mobile web edit
Shichobri (talk | contribs)
103 edits
No edit summary
(20 intermediate revisions by 16 users not shown)
Line 1: Line 1:
{{Short description|American businessman}}
{{Short description|American businessman and politician}}
{{about|the businessman|the Idaho politician and 1948 vice-presidential candidate|Glen H. Taylor|other people|Glenn Taylor (disambiguation)}}
{{about|the businessman|the Idaho politician and 1948 vice-presidential candidate|Glen H. Taylor|other people|Glenn Taylor (disambiguation)}}
{{Use mdy dates|date=November 2021}}
{{Use mdy dates|date=November 2021}}
Line 5: Line 5:
| image = Glen-taylor 2022.jpg
| image = Glen-taylor 2022.jpg
| caption = Taylor in 2022
| caption = Taylor in 2022
| name = Glen Allen Taylor
| name = Glen Taylor
| birth_date = {{Birth date and age|1941|4|20|mf=y}}
| birth_date = {{Birth date and age|1941|4|20|mf=y}}
| birth_place = [[Springfield, Minnesota]], U.S.
| birth_place = [[Springfield, Minnesota]], U.S.
| residence = [[Mankato, Minnesota]], U.S.
| order =
| order =
| office = [[Minnesota Senate Minority Leader]]
| office = [[Minnesota Senate Minority Leader|Minority Leader of the Minnesota Senate]]
| term_start = January 9, 1985
| term_start = January 9, 1985
| term_end = January 5, 1987
| term_end = January 5, 1987
| predecessor = [[James E. Ulland]]
| predecessor = [[James E. Ulland]]
| successor = [[Duane Benson]]
| successor = [[Duane Benson]]
| state_senate2 = Minnesota
| office2 = Member of the [[Minnesota Senate]]
| constituency2 = 24th district (1983–1990)<br>29th district (1981-1983)
| district2 = 24th
| prior_term2 = 29th (1981-1983)
| term_start2 = January 6, 1981
| term_start2 = January 6, 1981
| term_end2 = February 3, 1990
| term_end2 = February 3, 1990
| predecessor2 = [[Arnulf Ueland]]
| predecessor2 = [[Arnulf Ueland]]
| successor2 = Mark Piepho
| successor2 = [[Mark Piepho]]
| party = [[Republican Party (United States)|Republican]]
| party = [[Republican Party (United States)|Republican]]
| occupation =
| occupation =
| majority =
| majority =
| alma_mater = [[Minnesota State University, Mankato|Minnesota State University Mankato]]<br />[[Harvard Business School]]
| alma_mater = [[Minnesota State University, Mankato]] ([[Bachelor of Science|BS]])<br />[[Harvard University]] ([[Master of Business Administration|MBA]])
| spouse = {{unbulleted list|{{marriage|Glenda Taylor|1957|1990|reason=divorced}}|{{marriage|Becky Mulvihill|2007}}}}
| spouse = {{unbulleted list|{{marriage|Glenda Taylor|1957|1990|reason=divorced}}|{{marriage|Becky Mulvihill|2007}}}}
| children = 6
| children = 6
}}
}}
'''Glen Allen Taylor''' (born April 20, 1941) is an American billionaire [[business magnate]] and politician from [[Minnesota]].<ref name=":1">{{Cite web |title=Glen Taylor |url=https://www.forbes.com/profile/glen-taylor/ |access-date=2022-04-05 |website=Forbes |language=en}}</ref> Taylor made his fortune from being the founder and owner of Minnesota-based [[Taylor Corporation]], one of the largest graphic communication companies in the United States.
'''Glen Allen Taylor''' (born April 20, 1941) is an American billionaire [[business magnate]] and politician from [[Minnesota]].<ref name=":1">{{Cite web |title=Glen Taylor |url=https://www.forbes.com/profile/glen-taylor/ |access-date=2022-04-05 |website=Forbes |language=en}}</ref> Taylor made his fortune as the founder and owner of Minnesota-based [[Taylor Corporation]], one of the largest graphic communication companies in the United States.


Taylor was the majority owner of the [[Minnesota Timberwolves]] of the [[National Basketball Association]] and the owner of the Minnesota Lynx of the Women's National Basketball Association pending a sale of both franchises set to close in 2024. He remains part owner of the Minnesota United FC of Major League Soccer. In addition to his sports team ownership, Taylor has been the owner of the ''[[Star Tribune]]'', [[Minneapolis]]'s newspaper and the largest newspaper in Minnesota, since 2014.
Taylor is the majority owner of the [[Minnesota Timberwolves]] of the [[National Basketball Association]] and the owner of the [[Minnesota Lynx]] of the [[Women's National Basketball Association]]. He is also part owner of Minnesota United FC of Major League Soccer. In addition to his sports team ownership, Taylor has owned the ''[[Star Tribune]]'', Minnesota's largest newspaper, since 2014.


A former member of the [[Minnesota Senate]] from the [[Republican Party (United States)|Republican Party]], Taylor served in the state senate from 1981 until 1990. He strongly considered running for the Republican nomination for [[Governor of Minnesota]] in the [[1990 Minnesota gubernatorial election]], but ultimately chose not to run due to problems in his marriage to Glenda Taylor.<ref name=":0">{{Cite web |last=Fiedler |first=Terry |date=April 1, 2014 |title=Glen Taylor: Soul of a billionaire |url=https://www.startribune.com/1998-glen-taylor-profile-soul-of-a-billionaire/253438271/ |access-date=2022-04-24 |website=Star Tribune |language=en}}</ref>
Taylor served in the [[Minnesota Senate]] as a [[Republican Party (United States)|Republican]] from 1981 to 1990. He planned to run for [[governor of Minnesota]] in [[1990 Minnesota gubernatorial election|1990]], but ultimately chose not to due to problems in his marriage. He remains a large donor to Republican candidates.<ref name=":0">{{Cite web |last=Fiedler |first=Terry |date=April 1, 2014 |title=Glen Taylor: Soul of a billionaire |url=https://www.startribune.com/1998-glen-taylor-profile-soul-of-a-billionaire/253438271/ |access-date=2022-04-24 |website=Star Tribune |language=en}}</ref>


Ranked as the richest person in Minnesota,<ref>{{Cite web |url=https://www.bizjournals.com/twincities/news/2021/04/07/minnesota-billionaires-list-2021.html |date=2021-04-07 |access-date=August 11, 2022 |website=www.bizjournals.com |title=Minnesota's billionaires include Glen Taylor, Stanley Hubbard and a pair of Cargill heirs |first=Mark |last=Reilly}}</ref> Taylor is listed on the [[Forbes 400]] and his company ranks on the Forbes list of America's Largest Private Companies.<ref>{{Cite web |title=America's Largest Private Companies |url=https://www.forbes.com/largest-private-companies/list/ |access-date=January 11, 2020 |website=Forbes |language=en}}</ref> In 2023, his [[net worth]] was reported by Forbes to be $2.8 billion.<ref>{{Cite web |title=Glen Taylor |url=https://www.forbes.com/profile/glen-taylor/?sh=24de19dc719b |access-date=January 11, 2024 |website=Forbes |language=en}}</ref>
Ranked as the richest person in Minnesota,<ref>{{Cite web |url=https://www.bizjournals.com/twincities/news/2021/04/07/minnesota-billionaires-list-2021.html |date=2021-04-07 |access-date=August 11, 2022 |website=www.bizjournals.com |title=Minnesota's billionaires include Glen Taylor, Stanley Hubbard and a pair of Cargill heirs |first=Mark |last=Reilly}}</ref> Taylor is listed on the [[Forbes 400]] and his company ranks on [[Forbes]]'s list of America's largest private companies.<ref>{{Cite web |title=America's Largest Private Companies |url=https://www.forbes.com/largest-private-companies/list/ |access-date=January 11, 2020 |website=Forbes |language=en}}</ref> In 2023, Forbes reported his [[net worth]] to be $2.8 billion.<ref>{{Cite web |title=Glen Taylor |url=https://www.forbes.com/profile/glen-taylor/?sh=24de19dc719b |access-date=January 11, 2024 |website=Forbes |language=en}}</ref>


== Early life and education ==
== Early life and education ==
Line 41: Line 39:


== Career ==
== Career ==
During and after college, Taylor worked at Carlson Wedding Service (later Carlson Craft), a Mankato print shop specializing in formal invitations. In 1975, company owner Bill Carlson wanted to retire, and Taylor offered to pay $2 million over the course of 12 years for the company.<ref name="auto">{{cite web|url=http://www.taylorcorp.com/home/general/about/leadership.aspx|title=Taylor Corporation Website: About Glen Taylor|publisher=Taylor Corporation|access-date=April 27, 2016}}</ref> The purchase (which he paid off early) formed the basis for the [[Taylor Corporation]], a [[privately held company|privately held]] [[multinational corporation|multinational]] [[printing]] and [[electronics]] company with more than 10,000 employees and based in [[North Mankato, Minnesota]]. Taylor continues to serve as chairman and CEO.<ref name="auto" />
During and after college, Taylor worked at Carlson Wedding Service (later Carlson Craft), a Mankato print shop specializing in formal invitations. In 1975, company owner Bill Carlson wanted to retire, and Taylor offered to pay $2 million over 12 years for the company.<ref name="auto">{{cite web|url=http://www.taylorcorp.com/home/general/about/leadership.aspx|title=Taylor Corporation Website: About Glen Taylor|publisher=Taylor Corporation|access-date=April 27, 2016}}</ref> The purchase (which he paid off early) formed the basis for the [[Taylor Corporation]], a [[privately held company|privately held]] [[multinational corporation|multinational]] [[printing]] and [[electronics]] company with more than 10,000 employees based in [[North Mankato, Minnesota]]. Taylor continues to serve as chairman and CEO.<ref name="auto" />


=== Politics ===
=== Politics ===
Taylor was a [[Republican Party (United States)|Republican]] [[Minnesota State Senate|Minnesota State Senator]] from 1981 to 1990, serving as assistant minority leader from 1983 to 1985 and Minority Leader from 1985 to 1988.<ref name="auto1">{{cite web|url=http://tcbmag.com/Honors-and-Events/Minnesota-Business-Hall-of-Fame/2002-Minnesota-Business-Hall-of-Fame/Glen-Taylor|title=Glen Taylor|publisher=Twin Cities Business Magazine|access-date=April 27, 2016|date=July 1, 2002|archive-url=https://web.archive.org/web/20160513021328/http://tcbmag.com/Honors-and-Events/Minnesota-Business-Hall-of-Fame/2002-Minnesota-Business-Hall-of-Fame/Glen-Taylor|archive-date=May 13, 2016|url-status=dead}}</ref> He considered himself a member of the party's moderate wing.<ref name=mnpost>{{cite news |url = https://www.minnpost.com/business/2014/04/new-owner-glen-taylor-less-liberal-star-tribune-ahead |title = New Owner Glen Taylor: Less Liberal ''Star Tribune'' Ahead |last = Robson |first = Britt |work = MinnPost |date = April 16, 2015 |access-date = March 7, 2015 }}</ref> He resigned in 1990 citing his need to focus more on his business interests.<ref>{{Cite web |title=Taylor, Glen A. - Legislator Record - Minnesota Legislators Past & Present |url=https://www.lrl.mn.gov/legdb/fulldetail?id=10657 |access-date=2022-04-24 |website=www.lrl.mn.gov}}</ref>
Taylor was a [[Republican Party (United States)|Republican]] [[Minnesota State Senate|Minnesota state senator]] from 1981 to 1990, serving as assistant minority leader from 1983 to 1985 and minority leader from 1985 to 1988.<ref name="auto1">{{cite web|url=http://tcbmag.com/Honors-and-Events/Minnesota-Business-Hall-of-Fame/2002-Minnesota-Business-Hall-of-Fame/Glen-Taylor|title=Glen Taylor|publisher=Twin Cities Business Magazine|access-date=April 27, 2016|date=July 1, 2002|archive-url=https://web.archive.org/web/20160513021328/http://tcbmag.com/Honors-and-Events/Minnesota-Business-Hall-of-Fame/2002-Minnesota-Business-Hall-of-Fame/Glen-Taylor|archive-date=May 13, 2016|url-status=dead}}</ref> He considered himself a member of the party's moderate wing.<ref name=mnpost>{{cite news |url = https://www.minnpost.com/business/2014/04/new-owner-glen-taylor-less-liberal-star-tribune-ahead |title = New Owner Glen Taylor: Less Liberal ''Star Tribune'' Ahead |last = Robson |first = Britt |work = MinnPost |date = April 16, 2015 |access-date = March 7, 2015 }}</ref> He resigned in 1990, citing his need to focus more on his business interests.<ref>{{Cite web |title=Taylor, Glen A. - Legislator Record - Minnesota Legislators Past & Present |url=https://www.lrl.mn.gov/legdb/fulldetail?id=10657 |access-date=2022-04-24 |website=www.lrl.mn.gov}}</ref>


He strongly considered running for [[Governor of Minnesota]] in 1990, but he decided against it due to his divorce.<ref name=":0" /> He was appointed as a member of the Minnesota Commission on Reform and Efficiency by fellow Republican and Governor of Minnesota [[Arne Carlson]] a year after Taylor left office. He served in that role for three years.
He strongly considered running for [[governor of Minnesota]] in 1990, but decided against it due to his divorce.<ref name=":0" /> He was appointed as a member of the Minnesota Commission on Reform and Efficiency by fellow Republican and Governor of Minnesota [[Arne Carlson]] a year after Taylor left office. He served in that role for three years.


Still an active member of the Republican Party, from 2016 to 2020 Taylor donated $119,100 to Republican candidates and causes.<ref>{{Cite web|last=Ziegler|first=Sara|date=October 28, 2020|title=Inside The Political Donation History Of Wealthy Sports Owners|url=https://fivethirtyeight.com/features/inside-the-political-donation-history-of-wealthy-sports-owners/|access-date=December 15, 2020|website=FiveThirtyEight|language=en-US}}</ref>
Still an active member of the Republican Party, from 2016 to 2020 Taylor donated $119,100 to Republican candidates and causes.<ref>{{Cite web|last=Ziegler|first=Sara|date=October 28, 2020|title=Inside The Political Donation History Of Wealthy Sports Owners|url=https://fivethirtyeight.com/features/inside-the-political-donation-history-of-wealthy-sports-owners/|access-date=December 15, 2020|website=FiveThirtyEight|language=en-US}}</ref>
Line 52: Line 50:
=== Sports team ownership ===
=== Sports team ownership ===
{{tone|date=April 2020}}
{{tone|date=April 2020}}
Taylor purchased majority ownership of the [[Minnesota Timberwolves]] of the [[National Basketball Association]] in 1994 for a reported $94 million.<ref>{{Cite web |title=Wolves sale deal reached|url=https://www.postbulletin.com/wolves-sale-deal-reached/article_f20f0439-5313-583f-9030-f2533c168554.html|access-date=October 20, 2020|website=Post Bulletin|date=August 6, 1994|language=en}}</ref> and purchased the [[Minnesota Lynx]] of the [[Women's National Basketball Association]] in 1999.<ref>{{cite web |last1=Martin |first1=Sloane |title=Q&A: Glen Taylor on Lindsay Whalen, future of the Lynx, player pay and more |url=https://theathletic.com/475737/2018/08/16/glen-taylor-wnba-lynx-future-lindsay-whalen-cheryl-reeve-player-salaries-revenue-expansion/ |website=theathletic.com |publisher=The Athletic Media Company |access-date=17 April 2022}}</ref> Taylor was in talks to buy the [[Minnesota Twins]] but nothing came of it.<ref name="auto1" />
Taylor purchased majority ownership of the [[Minnesota Timberwolves]] of the [[National Basketball Association]] in 1994 for a reported $94 million<ref>{{Cite web |title=Wolves sale deal reached|url=https://www.postbulletin.com/wolves-sale-deal-reached/article_f20f0439-5313-583f-9030-f2533c168554.html|access-date=October 20, 2020|website=Post Bulletin|date=August 6, 1994|language=en}}</ref> and purchased the [[Minnesota Lynx]] of the [[Women's National Basketball Association]] in 1999.<ref>{{cite web |last1=Martin |first1=Sloane |title=Q&A: Glen Taylor on Lindsay Whalen, future of the Lynx, player pay and more |url=https://theathletic.com/475737/2018/08/16/glen-taylor-wnba-lynx-future-lindsay-whalen-cheryl-reeve-player-salaries-revenue-expansion/ |website=theathletic.com |publisher=The Athletic Media Company |access-date=17 April 2022}}</ref> He was in talks to buy the [[Minnesota Twins]] but nothing came of it.<ref name="auto1" /> The Lynx have won four WNBA titles, while the Wolves have failed to reach even one NBA Finals under his ownership, which includes a 14-season playoff drought from 2004 to 2018.


In 2000, Taylor received a nine-month suspension after signing [[Joe Smith (basketball)|Joe Smith]] to a secret contract in violation of the league's salary cap rules.<ref>{{cite web |last1=Akers |first1=John |title=NBA Will Suspend Timberwolves Owner |url=https://abcnews.go.com/Sports/story?id=100118&page=1 |website=abcnews.go.com |publisher=ABC News Internet Ventures |access-date=20 April 2022}}</ref> Before [[Donald Sterling]], Glen Taylor was the only NBA owner to be suspended for more than a couple of games.{{Citation needed|date=April 2020}}
In 2000, Taylor received a nine-month suspension after signing [[Joe Smith (basketball)|Joe Smith]] to a secret contract in violation of the league's salary cap rules.<ref>{{cite web |last1=Akers |first1=John |title=NBA Will Suspend Timberwolves Owner |url=https://abcnews.go.com/Sports/story?id=100118&page=1 |website=abcnews.go.com |publisher=ABC News Internet Ventures |access-date=20 April 2022}}</ref> Before [[Donald Sterling]]'s 2014 suspension,<ref>{{Cite web |last=O'Donnell |first=Ricky |date=2014-04-29 |title=Sterling suspended 'for life', fined $2.5 million |url=https://www.sbnation.com/nba/2014/4/29/5664714/donald-sterling-suspension-clippers-racist-nba-tmz |access-date=2024-07-03 |website=SBNation.com |language=en}}</ref> Taylor was the only NBA owner to be suspended for more than a couple of games.{{Citation needed|date=April 2020}}


In 2017, Taylor purchased the Iowa Energy of the NBA Development League (later called [[NBA G League]]) and renamed the team the [[Iowa Wolves]] as the developmental affiliate of the Timberwolves.<ref>{{Cite web|date=May 30, 2017|title=New Timberwolves D-League team renamed Iowa Wolves|url=https://www.fox9.com/sports/new-timberwolves-d-league-team-renamed-iowa-wolves|access-date=October 20, 2020|website=FOX 9 Minneapolis-St. Paul|language=en-US}}</ref>
In 2017, Taylor purchased the Iowa Energy of the NBA Development League (later called [[NBA G League]]) and renamed the team the [[Iowa Wolves]] as the developmental affiliate of the Timberwolves.<ref>{{Cite web|date=May 30, 2017|title=New Timberwolves D-League team renamed Iowa Wolves|url=https://www.fox9.com/sports/new-timberwolves-d-league-team-renamed-iowa-wolves|access-date=October 20, 2020|website=FOX 9 Minneapolis-St. Paul|language=en-US}}</ref>


He is a past chairman of the board of governors for the NBA, serving two terms from 2008 to 2012 and from 2014 to 2017.<ref>{{cite web |last1=Krawczynski |first1=Jon |title=Exclusive: Glen Taylor reflects on time as NBA chairman |url=https://theathletic.com/142106/2017/10/30/glen-taylor-minnesota-timberwolves-exclusive-part-ii-nba-chairman/ |website=theathletic.com |publisher=The Athletic Media Company |access-date=20 April 2022}}</ref>
He is a past chairman of the NBA board of governors, serving two terms from 2008 to 2012 and from 2014 to 2017.<ref>{{cite web |last1=Krawczynski |first1=Jon |title=Exclusive: Glen Taylor reflects on time as NBA chairman |url=https://theathletic.com/142106/2017/10/30/glen-taylor-minnesota-timberwolves-exclusive-part-ii-nba-chairman/ |website=theathletic.com |publisher=The Athletic Media Company |access-date=20 April 2022}}</ref>


In April 2021, Taylor entered into an agreement allowing Marc Lore, founder of the food-delivery company Wonder Group and Jet.com, an e-commerce business, and Alex Rodriguez, a former professional baseball player, to acquire the Minnesota Timberwolves and Minnesota Lynx for an estimated $1.5 billion. Upon consummation of the current option stage, Taylor would retain a 20 percent ownership stake in the teams.
In 2021, Taylor entered into an agreement allowing [[Marc Lore]], founder of the food-delivery company Wonder Group and Jet.com, an e-commerce business, and [[Alex Rodriguez]], a former professional baseball player, to acquire the Timberwolves and the Lynx for an estimated $1.5 billion. Upon consummation of the current option stage, Taylor would retain a 20% stake in the teams.


Taylor is also the part owner of the [[Minnesota United FC]] soccer team.<ref name=":1" />
Taylor is also a part owner of the [[Minnesota United FC]] soccer team.<ref name=":1" />


=== Newspaper ownership ===
=== Newspaper ownership ===
In 2014, he purchased the ''[[Star Tribune]]'' for about $100million.<ref>{{cite web|url=http://www.startribune.com/local/265223641.html#q0moRoLxUGPJmkPy.97|title=July 1, 2014: Glen Taylor finalizes purchase of Star Tribune|date=July 1, 2014|publisher=StarTribune.com|access-date=September 27, 2015}}</ref> He told ''[[MinnPost]]'' that the famously liberal ''Star Tribune'' would be decidedly less liberal under his watch, but noted that the paper had already been shifting more to the center in recent years.<ref name=mnpost />
In 2014, Taylor bought the ''[[Star Tribune]]'' for about $100 million.<ref>{{cite web|url=http://www.startribune.com/local/265223641.html#q0moRoLxUGPJmkPy.97|title=July 1, 2014: Glen Taylor finalizes purchase of Star Tribune|date=July 1, 2014|publisher=StarTribune.com|access-date=September 27, 2015}}</ref> He told ''[[MinnPost]]'' that the ''Star Tribune'' would be decidedly less liberal under his watch, but said the paper had already been shifting more to the center in recent years.<ref name=mnpost />


== References ==
== References ==
Line 87: Line 85:
[[Category:Minnesota State University, Mankato alumni]]
[[Category:Minnesota State University, Mankato alumni]]
[[Category:Harvard Business School alumni]]
[[Category:Harvard Business School alumni]]
[[Category:National Basketball Association executives]]
[[Category:NBA executives]]
[[Category:National Basketball Association owners]]
[[Category:NBA owners]]
[[Category:Politicians from Mankato, Minnesota]]
[[Category:Politicians from Mankato, Minnesota]]
[[Category:Women's National Basketball Association executives]]
[[Category:Women's National Basketball Association executives]]

Revision as of 13:08, 3 July 2024

This article is about the businessman. For the Idaho politician and 1948 vice-presidential candidate, see Glen H. Taylor. For other people, see Glenn Taylor (disambiguation).

Glen Taylor
Taylor in 2022
Minority Leader of the Minnesota Senate
In office
January 9, 1985 – January 5, 1987
Preceded byJames E. Ulland
Succeeded byDuane Benson
Member of the Minnesota Senate
In office
January 6, 1981 – February 3, 1990
Preceded byArnulf Ueland
Succeeded byMark Piepho
Constituency24th district (1983–1990)
29th district (1981-1983)
Personal details
Born (1941-04-20) April 20, 1941 (age 83)
Springfield, Minnesota, U.S.
Political partyRepublican
Spouses
  • Glenda Taylor
    ​
    ​
    (m. 1957; div. 1990)​
  • Becky Mulvihill
    ​
    (m. 2007)​
Children6
Alma materMinnesota State University, Mankato (BS)
Harvard University (MBA)

Glen Allen Taylor (born April 20, 1941) is an American billionaire business magnate and politician from Minnesota.[1] Taylor made his fortune as the founder and owner of Minnesota-based Taylor Corporation, one of the largest graphic communication companies in the United States.

Taylor is the majority owner of the Minnesota Timberwolves of the National Basketball Association and the owner of the Minnesota Lynx of the Women's National Basketball Association. He is also part owner of Minnesota United FC of Major League Soccer. In addition to his sports team ownership, Taylor has owned the Star Tribune, Minnesota's largest newspaper, since 2014.

Taylor served in the Minnesota Senate as a Republican from 1981 to 1990. He planned to run for governor of Minnesota in 1990, but ultimately chose not to due to problems in his marriage. He remains a large donor to Republican candidates.[2]

Ranked as the richest person in Minnesota,[3] Taylor is listed on the Forbes 400 and his company ranks on Forbes's list of America's largest private companies.[4] In 2023, Forbes reported his net worth to be $2.8 billion.[5]

Early life and education

Taylor was born in Springfield, Minnesota, and grew up on a farm in Comfrey, Minnesota. He graduated from Comfrey High School in 1959, and after the owner of the farm he worked on insisted he use his potential in college, he received a Bachelor of Science in mathematics, physics and social studies from Minnesota State University, Mankato, in 1962.[6][7] In 1978 he received an executive MBA from Harvard Business School.[8]

Career

During and after college, Taylor worked at Carlson Wedding Service (later Carlson Craft), a Mankato print shop specializing in formal invitations. In 1975, company owner Bill Carlson wanted to retire, and Taylor offered to pay $2 million over 12 years for the company.[9] The purchase (which he paid off early) formed the basis for the Taylor Corporation, a privately held multinational printing and electronics company with more than 10,000 employees based in North Mankato, Minnesota. Taylor continues to serve as chairman and CEO.[9]

Politics

Taylor was a Republican Minnesota state senator from 1981 to 1990, serving as assistant minority leader from 1983 to 1985 and minority leader from 1985 to 1988.[8] He considered himself a member of the party's moderate wing.[10] He resigned in 1990, citing his need to focus more on his business interests.[11]

He strongly considered running for governor of Minnesota in 1990, but decided against it due to his divorce.[2] He was appointed as a member of the Minnesota Commission on Reform and Efficiency by fellow Republican and Governor of Minnesota Arne Carlson a year after Taylor left office. He served in that role for three years.

Still an active member of the Republican Party, from 2016 to 2020 Taylor donated $119,100 to Republican candidates and causes.[12]

Sports team ownership

Taylor purchased majority ownership of the Minnesota Timberwolves of the National Basketball Association in 1994 for a reported $94 million[13] and purchased the Minnesota Lynx of the Women's National Basketball Association in 1999.[14] He was in talks to buy the Minnesota Twins but nothing came of it.[8] The Lynx have won four WNBA titles, while the Wolves have failed to reach even one NBA Finals under his ownership, which includes a 14-season playoff drought from 2004 to 2018.

In 2000, Taylor received a nine-month suspension after signing Joe Smith to a secret contract in violation of the league's salary cap rules.[15] Before Donald Sterling's 2014 suspension,[16] Taylor was the only NBA owner to be suspended for more than a couple of games.[citation needed]

In 2017, Taylor purchased the Iowa Energy of the NBA Development League (later called NBA G League) and renamed the team the Iowa Wolves as the developmental affiliate of the Timberwolves.[17]

He is a past chairman of the NBA board of governors, serving two terms from 2008 to 2012 and from 2014 to 2017.[18]

In 2021, Taylor entered into an agreement allowing Marc Lore, founder of the food-delivery company Wonder Group and Jet.com, an e-commerce business, and Alex Rodriguez, a former professional baseball player, to acquire the Timberwolves and the Lynx for an estimated $1.5 billion. Upon consummation of the current option stage, Taylor would retain a 20% stake in the teams.

Taylor is also a part owner of the Minnesota United FC soccer team.[1]

Newspaper ownership

In 2014, Taylor bought the Star Tribune for about $100 million.[19] He told MinnPost that the Star Tribune would be decidedly less liberal under his watch, but said the paper had already been shifting more to the center in recent years.[10]

References

  1. ^ a b "Glen Taylor". Forbes. Retrieved April 5, 2022.
  2. ^ a b Fiedler, Terry (April 1, 2014). "Glen Taylor: Soul of a billionaire". Star Tribune. Retrieved April 24, 2022.
  3. ^ Reilly, Mark (April 7, 2021). "Minnesota's billionaires include Glen Taylor, Stanley Hubbard and a pair of Cargill heirs". www.bizjournals.com. Retrieved August 11, 2022.
  4. ^ "America's Largest Private Companies". Forbes. Retrieved January 11, 2020.
  5. ^ "Glen Taylor". Forbes. Retrieved January 11, 2024.
  6. ^ Doug Anderson (September 14, 2015). "Glen Taylor biography". Minnesota State Press Releases. Minnesota State Colleges and Universities. Retrieved April 27, 2016.
  7. ^ "Influential Leaders". American Association of Colleges of Business. Archived from the original on June 23, 2017. Retrieved April 27, 2016.
  8. ^ a b c "Glen Taylor". Twin Cities Business Magazine. July 1, 2002. Archived from the original on May 13, 2016. Retrieved April 27, 2016.
  9. ^ a b "Taylor Corporation Website: About Glen Taylor". Taylor Corporation. Retrieved April 27, 2016.
  10. ^ a b Robson, Britt (April 16, 2015). "New Owner Glen Taylor: Less Liberal Star Tribune Ahead". MinnPost. Retrieved March 7, 2015.
  11. ^ "Taylor, Glen A. - Legislator Record - Minnesota Legislators Past & Present". www.lrl.mn.gov. Retrieved April 24, 2022.
  12. ^ Ziegler, Sara (October 28, 2020). "Inside The Political Donation History Of Wealthy Sports Owners". FiveThirtyEight. Retrieved December 15, 2020.
  13. ^ "Wolves sale deal reached". Post Bulletin. August 6, 1994. Retrieved October 20, 2020.
  14. ^ Martin, Sloane. "Q&A: Glen Taylor on Lindsay Whalen, future of the Lynx, player pay and more". theathletic.com. The Athletic Media Company. Retrieved April 17, 2022.
  15. ^ Akers, John. "NBA Will Suspend Timberwolves Owner". abcnews.go.com. ABC News Internet Ventures. Retrieved April 20, 2022.
  16. ^ O'Donnell, Ricky (April 29, 2014). "Sterling suspended 'for life', fined $2.5 million". SBNation.com. Retrieved July 3, 2024.
  17. ^ "New Timberwolves D-League team renamed Iowa Wolves". FOX 9 Minneapolis-St. Paul. May 30, 2017. Retrieved October 20, 2020.
  18. ^ Krawczynski, Jon. "Exclusive: Glen Taylor reflects on time as NBA chairman". theathletic.com. The Athletic Media Company. Retrieved April 20, 2022.
  19. ^ "July 1, 2014: Glen Taylor finalizes purchase of Star Tribune". StarTribune.com. July 1, 2014. Retrieved September 27, 2015.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Glen_Taylor&oldid=1232380250"