Big Family Venture: Start With The Buy Through Female Operator.

Earning "first pot of gold" - from the "buy through" female operator, after graduating from Columbia law school, foster worked in some small investment banks for some time.

At the age of 35, Forstmann lost his job.

He had to work in his brother Toni's company.

He recalled: "Toni gave me thousands of dollars a month's salary, let me help him to bring his Currency Management Corporation - Forstmann Leif out of trouble."

Forstmann had participated in the public offering of GrahamMagnetics when he worked in an investment bank.

This is a Texas zero defect cassette producer. Forstmann got a seat on the board of the company because of his small success.

In 1973, the company closed, and Forstmann thought it was the best time to sell the company, and it could also bring a substantial income to itself.

But he didn't even have a stable office. How did he talk about business?

So he secretly sought help from the female operator of his brother company, and promised that if the business was successful, he would send her a fur coat.

In this way, the female operator will say Mr. Forstmann is out when he answers the phone, then call Forstmann home to tell him.

Later, Forstmann really made the deal, earned 200 thousand dollars, and bought the woman operator a $10 thousand fur coat to fulfill her promise.

In 1978, Forstmann and his brother Nick and White Wilder's former investment banker Brian Little jointly founded Forstmann Little Company to conduct commercial investment operations.

Forstmann is born to be a businessman.

Most of the other investors make money by luck, but Forstmann has his own capital theory, and he thinks of a leveraged buyout: borrowing or lending to buy a company, then selling it hand in hand, making use of the difference between retail price and whole selling price.

In the 80s of last century, the whole investment industry changed because of Forstmann's "fancy".

When Forstmann borrowed money for LBO, he no longer relied on such an intermediary as insurance company, but created his own debt fund.

This debt is called "mezzanine debt".

By providing equity and debt in the acquisition, Forstmann can speed up the operation of the paction and control the paction in a comprehensive way.

With this method, the paction he can do is much larger than the paction he made with the insurance company, and of course the risk is greatly increased.

The acquisition of DrPepper in 1984 is a classic case of leveraged buyout.

Forstmann borrowed $500 million from the bank, and from his debt fund $120 million, plus a stake worth only $30 million, bought the failed soda company, which happens to have assets that can generate cash.

When Forstmann sold DrPepper in 1986, his equity investors got more than 900% of their return on investment.

By 2000, the 6 funds of the foster man Little Company had raised over 8 billion dollars in 21 years, and each fund made money for its own investors.

On average, every foster Littell equity fund has created an annual average return of nearly 60% on behalf of the vast majority of its retirement fund investors.

The most astonishing thing is that almost all of the companies bought by leveraged buyouman Littell have made profits.

Forstmann, who has been regarded as impossible to pform, has become a successful business with billions of dollars in turnover.

The classic of "gold spot" is the classic "gold spot" of Forstmann, who earned $5 billion in a single business and revived Gulfstream Aerospace Corporation in the 90s of last century.

In 1990, when Forstmann vigorously urged, Forstmann - Little Company bought $825 million for the production of noble private jet Gulfstream.

But just a few weeks later, due to the Great Depression of the United States, the demand for aircraft was greatly reduced.

Orders fell from 29 to 21 at the end of the year.

No doubt, Little Company has invested $250 million in investment in the development of new models in 1992.

But by 1993, the Gulf Stream company was already in debt and on the verge of collapse.

At that time, foster had two choices: to sell the Gulfstream company and to suffer huge losses; or to refinance the loan fund to fund huge sums of money.

Although many people advised him to sell the company, he still could not accept the consequences of a loss of at least $300 million.

Forstmann chose to stick to it and vowed to restore the original glory of the Gulfstream company.

He cut off the chief executive of Gulfstream and became president himself.

On the one hand, he cleaned up the company's finances, streamlined the organization and participated in the marketing of the Gulfstream products himself.

Under the management of Forstmann, the Gulf Stream company came back to life. The time for producing the "Gulf Stream 4" aircraft was shortened from 67 days to 29 days. The 60 new world record type "Gulfstream 5" was also developed and produced, and soon swept the world.

The Gulf Stream company went public in 1996 and sold it to General Dynamic Corp two years later.

In 1999, when Forstmann Little was allowed to sell its general dynamics stock, investors invested $636 million in the Gulf Stream company at $5 billion 600 million.

7 years earned nearly 5 billion dollars! Wall Street has another myth.

Forstmann, a 66 year old married man and a gossip, is now over 66 years old. He is still known as "playboy" by the Americans because he is always a gossip from an unmarried man.

In the numerous scandals of Forstmann, the most popular stories are his stories with Princess Diana and IMG's actress and model Elizabeth Holly.

In the past, Hurley did not answer directly to Forstmann: he did not admit or deny it.

However, he has publicly stated that Hurley is his good friend.

Forstmann did not want to talk too much about the gossip he had heard from Princess Diana in the past.

Forstmann admitted that he respected and liked the princess.

But he said their relationship was not as complex as tabloid reporters imagined.

In analyzing the causes of Forstmann's scandal, a [FS:PAGE] familiar with his friends explained that because he was unmarried, wealthy and individual, he was easy to be the target of Western entertainment journalists.

His emotional life is often a topic of conversation after dinner.

He is a well-known beauty, so he often causes a lot of gossip.

However, Forstmann always laughed off the lace news and never wanted to explain too much.

Of course, Forstmann also had the time to say "one mind".

Once, when a friend asked him why he could stay alive all the time, he laughed and said, "ha ha, it's a love affair with a young lady!"

Forstmann is an exception. He never lacks friends.

From Greenspan, Buffett and Walton in business circles to Tiger Woods, Vijay Singh and Oprah Winfrey in sports entertainment, and then to Clinton, Bloomberg, Clinton, and so on, his friends spread across all trades and strata.

The reason lies in his decades of unchanging "personality": aggressive, unobstructed, and "sentimental".

The story of Forstmann and former South African President Mandela has been well received by Americans.

Mandela was giving a speech at a dinner hosted by the president of the United States in 1994.

To Foster's surprise, Mandela had no resentment against society when he told his long prison struggle life.

Mandela talked about the year when he was released from prison, and saw the street dropouts.

To this end, he announced that he would use his half salary as a student aid fund.

This made Forstmann very moved.

After Mandela finished speaking, a black movie star was so excited that he suddenly stood up and shouted "long live the black!" and "the black man is invincible!" the scene suddenly became tense.

At that time, Forstmann, who was sitting on the stage, suddenly stood up and rushed to the rostrum.

It turned out that Forstmann was going to donate 1 million dollars on the spot to Mandela as a charitable fund.

Second days early in the morning, Mandela called Forstmann.

Since then, the two have started to associate with each other and develop into close friends.

Later, foster became an important donor and head of the Mandela children's foundation.

In the words of Forstmann, he seems to have a special fate with blacks.

Forstmann has adopted two orphans in southern Africa.

The first child was E Vries, 6 years old, and Forstmann said he had a sense of what he saw.

After coming to the United States, E Vries said he needed a friend, and Forstmann adopted a 11 year old orphan.

Now, brother sun Ya is studying at Pepperdine University.

Forstmann said he would send E Vries to school later.

Forstmann has always been very keen on charity.

In 1998, Forstmann and Walton, the successor of WAL-MART, jointly established the children's Scholarship Foundation. They donated $200 million each to provide more than 62 thousand poor children in more than 40 cities in the United States so that they could go to private or missionary schools.

Forstmann said: "I always believe that ideals are more important than money. If a person is happy only if he makes money, I think his happiness is limited.

So every time I see on TV, many poor children apply for scholarships to our foundation. I see that those parents with smiling faces, I feel really happier than making money.