Sam Wiley net worth
Sam Wiley Net Worth: Sam Wyly is an American entrepreneur and businessman who has a net worth of $20 million. Sam Wyly was born in Louisiana in October 1934. He is also a philanthropist and a major contributor to Republican campaigns and candidates. Sam and his brother Charles Wyly, Jr. are often referred to as the Wyly brothers.
Sam Wyly is a graduate of Louisiana Tech University, University of Michigan and Ross School of Business. He started out as a salesman at IBM’s Service Bureau Corporation. In 1963, Wiley founded the University Computing Company. He started the company with $1,000, went public in 1985, and by 1971 had sales of $125 million. Sam and his brother Charles bought restaurant chain Bonanza Steakhouse in 1967. Wiley bought Gulf Insurance in 1986 and co-founded Earth Resources. He purchased Computer Technology in 1970 and co-founded Sterling Software in 1981. In 1982 he bought a controlling stake in craft store Michaels and in 1986 the retail chain Frost Bros. Wyly co-founded hedge fund Maverick Capital in 1990. His memoir 1,000 Dollars & an Idea: Entrepreneur to Billionaire was published in 2008. From 1970 to 2006, Wyly and his brother Charles estimated they gave about $10 million to Republican causes and candidates. Sam Wyly filed for bankruptcy in 2014 after losing a fraud case brought by the SEC. The IRS filed a $3.2 billion claim against Wily in April 2015.
