Reputation Management (1/14/20)

Part
01
of two
Part
01

Reputation Management-Part 1

As a top billionaire, it may be necessary to have an online reputation management service to monitor and address an individual's online presence. Reputation management service can assist in ensuring that negative articles in the press do not affect the credibility of one's established business or career.

Full details of the following ten individuals who would be potential candidates for reputation management services can be found on the attached spreadsheet.

Key Findings

1) Michael Bloomberg
  • Bloomberg's reported net worth is $58.8 billion.
  • As mayor of New York City, Michael Bloomberg supported the NYPD's "stop-and-frisk" policy that targeted minority men.
2) Thomas Steyer
  • Thomas Steyer's reported net worth is $1.6 billion.
  • Thomas Stayer has been known to offer private campaign contributions to local politicians in exchange for endorsements for his bid for the White House.
3) Richard Hayne
  • Richard Hayne's reported net worth is $1.1 billion.
  • Richard Hayne's company Urban Outfitters was reported to have its stocks drop after the departure of the company's president.
4) Ronald Perelman
  • Ronald Perelman has been reported to have used Revlon's reputation to influence the news in the media and press about him.
5) Charles Koch
  • Charles Koch's reported net worth is $42.9 billion.
  • It is reported that Charles Koch's foundations provide a significant amount of monetary support for pro-Trump media.
6) Len Blatvanik
  • Len Blatvanik's reported net worth is $19.5 billion.
  • Len Blatvanik's donation to the GOP has been reported to have ties to a previous Russian government official.
7) John Willard “Bill” Marriott Jr. and Richard Marriott
  • Bill Marriott Jr.'s and Richard Marriott's reported combined net worth is $60 billion.
  • The 2017 dispute in which Bill's son sued him and Richard exposed reports of substance abuse and allegations of mistreatment within the family.
8) William Conway Jr.
  • William Conway Jr.'s reported net worth is $3.5 billion.
  • The Carlyle Group, the company that Conway is co-CEO and co-Founder of with David Rubenstein, has been reported to have used influence peddling to make controversial business deals.
9) Jacqueline Mars
10) Wilbur Ross
  • Wilbur Ross's reported net worth is $860 million.
  • In 2017, it was reported that Wilbur Ross had connections to Vladimir Putin's inner circle.

Research Strategy

To begin this research, a search was conducted with the keywords "top billionaires 2019 negative press." Several articles were found, and these lists were used to isolate the individuals from the requested cities/areas. In addition, other searches were conducted with the city/area added to the key word search, such as "top billionaires Washington DC" or "top billionaires New York City." From this search, the individuals found were searched individually to find any articles written regarding negative press.






Part
02
of two
Part
02

Reputation Management-Part 2

George Soros, Guo Wengui, Ralph Lauren, and Israel Englander are additional high-net-worth individuals (HNWIs) in the United States and Canada who are potential candidates for reputation management services. Details have been entered in rows 49-52 of the attached spreadsheet.

George Soros

Guo Wengui

Ralph Lauren

Israel Englander


Research Strategy:

We only found four additional high-net-worth individuals who are potential candidates for reputation management services. This lack of entities is due to some limitations as explained below. Below is a deep dive into various strategies adopted to find the information.

We started off our search by finding the information in news articles specific to high-net-worth individuals in sources such as NY Times, AB News, Irishtimes, Networthlist.org, Crain's New York, and Boston Herald; and blog posts from sources such as IPLeaders, The Drum, and Blog Feed Spot. The idea was to check and see if there is any information mentioned specifically to high-net-worth individuals in the form of interviews or articles. The sources enumerated the information on the biggest billionaire winners/losers of 2019, but the information was more specific to the success part of their career and not on the negative press of these individuals.

Later, we veered our approach and tried to figure out the list of high-net-worth individuals in sources such as Forbes and Business Insider. The idea was to triangulate the information using the list of individual HNWIs and check if they are involved in any scandals. Though we were able to find a list, no information was available specific to scandals or negative press. Thus, information could not be triangulated. From these lists, we were only able to list 4 high-net-worth individuals in the specified areas who would be potential candidates for reputation management services in New York.

As an alternative approach, we tried to look for large organizations such as Facebook, Koch Industries, Zara, Microsoft, Bloomberg LP, and Estee Lauder and then looked for their owners. The idea was to see if these renowned industrialist or professionals are involved in any sort of scandals. But research showed that they are not considered potential candidates for reputation management services.

Our last strategy was to try to broaden the scope of the research beyond the standard two-year timeline. With this approach, we hoped to look for slightly outdated but useful information on any past news or research done around the topic which we can use as a proxy for the high-net-worth individuals in New York, Philadelphia, Boston, Washington DC, Charlotte, Atlanta in the United States and Toronto, Ottawa, and Montreal in Canada. But we were not able to locate any relevant sources.
Sources
Sources

From Part 01
From Part 02
Quotes
  • "George Soros, a New-York based billionaire Democratic fund-raiser, has long been villainised in certain right-wing circle"
Quotes
  • "Net worth of Guo"
Quotes
  • "An arrest warrant is issued for New York based billionaire Guo Wengui after he offers information about corruption in China. [Source 5]"
Quotes
  • "Ralph Lauren: Potential Upside From Strategy Implementation"
Quotes
  • "Israel Englander 2019 Billionaires Net Worth: $6.4 billion Englander founded Millennium Management in 1989 with $35 million. The hedge fund firm now manages more than $35 billion."
Quotes
  • "Millennium got caught up in the mutual fund market timing scandal, paying $180 million to settle with regulators, but Mr Englander remains one of the most senior and respected members of the hedge fund community."
Quotes
  • "The Biggest Billionaire Winners And Losers Of 2019"