Raymond Harbert’s net worth is $5 Billion, and he is a renowned American business executive, investor, and philanthropist. He was born on December 1958.
Raymond Harbert is a very successful man. He has been a prominent businessman. In 1984, he graduated with a bachelor’s degree in electrical engineering from Tulane University.
He started his career in New Orleans, Louisiana in 1984 at the company called Harbert, which later became known as Harbert International. Raymond Harbert joined the company as an engineer.
He then became the president of the company in 1989. During this time, he introduced the computerized time clock system, the first company to provide such a system to the industry.
And it was a big success. In 1996, the company was sold and it was renamed Accuray Inc. Later, it became known as Harberts. It was then acquired by Amersham plc in 2000.
Raymond Harbert worked at Amersham plc for nearly a decade. In 2010, he founded his own company named RMI Holdings. Raymond Harbert has served as its chief executive officer since then.
Raymond Harbert has also been listed among Forbes 400 Richest Americans in 2011, 2012, 2013, 2014, 2015, and 2016.
RMI Holdings has its headquarters in Troy, Michigan and it provides services in more than 180 countries.
Raymond Jones Harbert spent his childhood in the city of Birmingham in the state of Alabama. Harbert Corporation, a huge and successful global construction firm, was established in 1949 by John M. Harbert, his son’s father.
His mother, Marguerite Harbert, was a philanthropist who donated a billion dollars. He is the younger sibling of both Marguerite H. Gray and John M. Harbert IV, his brother.
In 1982, Harbert obtained his Bachelor of Science degree in Industrial Management from Auburn University, from which he graduated with honors.
The organization manages investment funds for nine different alternative asset classes and three areas of concentration, including real assets, private capital, and absolute return techniques.
Previously, this organization held the majority ownership stake in Harbinger Capital. HMC was the source of funding for Harbinger and its funds when they were first established. Harbert Realty Services is another business that is owned by the corporation.
The HMC company has locations all around the world including Birmingham, Atlanta, Dallas, Nashville, New York, Richmond, San Francisco, Los Angeles, London, Luxembourg, Paris, and Madrid.
People who have been impacted by natural disasters, medical conditions, or temporary financial hardships can regain their independence and self-sufficiency. It was with the help of the HERO Foundation. It was established by the company in 1998. The HERO Foundation provides direct financial assistance to those in need.
Harbert joined Harbert International, a division of his father’s company Harbert Corporation, in 1982 as vice president of business development. At a later time, he was made president of Harbert Properties Corporation, the company’s real estate arm. During his time at Harbert Corporation (1988-1990), he was the vice president in charge of all investment endeavors. In 1990, he succeeded his father as the company’s CEO after being elected to the position.
Birmingham-based investment management firm Harbert Management Corporation was created by Harbert in 1993 with US$3 million borrowed from his inheritance. HMC flourished throughout the subsequent two decades, opening regional headquarters in both North America and Europe. From public endowments and foundations to HNWIs and family offices, the firm manages funds for a diverse clientele. HMC has holdings in the public markets, real estate, energy, private equity and debt, venture capital, and the public markets.
Harbert established the hedge fund now known as Harbinger Capital Partners in 2000 under the direction of Philip Falcone. Despite Harbert’s continued involvement as a personal investor, after 10 successful years under the HMC umbrella, Falcone took over as Harbinger’s principal owner.
Marguerite, Harbert’s sister, filed a lawsuit against him in 2006, alleging that he had breached his fiduciary duties to the other shareholders in the Harbert Corporation, including her and their other brother. As opposed to what Harbert asserts, Gray argues
Harbert is a family man, being the proud father of three to his wife, the former Kathryn Dunn Harbert.
They are locals of the Birmingham suburb of Mountain Brook, Alabama. Harbert also has a 10-thousand-acre property in South Alabama, where he goes hunting for quail and turkey.
Based in Birmingham, AL, the Harbert family runs the international investment firm, Harbert Management Corp. As part of an initial $40 million pledge, he went to Auburn University and gave the school $25 million. The fund will be utilized to compensate former Auburn football coaches like Brian Harsin.