Peter M. Brandt net worth
Peter M. Brant Net Worth: Peter M. Brant is an American businessman, industrialist and art collector who has a net worth of $800 million. Although in an ideal art market, his net worth could have increased significantly, thanks to his impressive collection of works betting against the likes of Warhol, Basquiat and more. Peter M.
Brant was born in New York City in March 1947. His father co-founded Brant-Allen Industries, a paper converting company. Brandt was a friend of Donald Trump as a child. Peter M. Brant worked for his father in Brant-Allen on the manufacturing side, where it expanded to paper mill ownership. In the 1990s, he was jailed over tax issues. In 2008, after acquiring a partner, he changed his name to White Birch Paper Company. That same year, he acquired SP Newsprint Co for $305 million. Brant lost $1 billion in two years, and White Birch Paper filed for Chapter 11 bankruptcy. After the 2008 financial crisis, Brandt’s net worth fell from $1.4 billion to $500 million. In addition to Brant Publications and the Brant Foundation, he is also Chairman of the White Birch Paper. Peter M. Brant is also a producer on films such as L’Amour, Andy Warhol’s Bad, Basquiat, Pollock, and more. His art collection includes extensive contemporary works by artists such as Basquiat, Jeff Koons and Warhol. He bought so many Warhol paintings in the 70s that Warhol himself became concerned that he owned too many of his works. He married his second wife, Stephanie Seymour, in 1995. Around 2010, the couple entered divorce proceedings. As part of these lawsuits, we learned that Brandt spent approximately $500,000 a month on private jet travel, pet business projects and real estate development. He was provisionally ordered to pay Seymour $270,000 a month for support.
At the time he reported his monthly income was $1.5 million. They eventually reconciled. They own homes in Greenwich, Connecticut, the Hamptons, and Palm Beach, Florida.
