NEW: Providence Equity’s Jonathan Nelson Named to Fortune 400
Wednesday, September 19, 2012
Forbes Magazine, in its just-released annual ranking of the 400 Richest Americans.
Nelson made news this week when he signed the Giving Pledge, a Buffet/Gates initiative wherein participants promise to donate the majority of their wealth to philanthropy.
Nelson's net worth as of September 2012 is pegged at $1.7 billion by Forbes, placing him not only at #285 on the Forbes 400, but at #854 among Forbes Billionaires (#302 in the US).
Nelson, 56, is the CEO of Providence Equity Partners, and Forbes cites leveraged buyouts as the source of his wealth, a self-made fortune.
Nelson holds an MBA from Harvard University and is an alumnus of Brown University, where he studied economics. The son of an orthodontist, according to Forbes, Nelson founded Providence Equity Partners in 1989, which now manages $27 billion in funds, including $4 billion it recently raised for a new fund.
Forbes cites Nelson's recent $20 million donation to alma mater Brown University, to fund the construction of a new fitness center and provide professorships to help attract the best educators.
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