Glen Taylor

This article is about the Minnesota businessman, politician and team owner. For late Idaho politician and 1948 vice-presidential candidate, see Glen H. Taylor. For other people, see Glenn Taylor (disambiguation).
Glen Taylor
9th Minnesota Senate Minority Leader
In office
January 9, 1985 – January 5, 1987
Preceded by James E. Ulland
Succeeded by Duane Benson
Minnesota State Senator
In office
January 6, 1981 – February 3, 1990
Personal details
Born (1941-04-20) April 20, 1941
Political party Republican
Spouse(s) Becky Mulvihill
Children Jean, Terri, Taylor Moor, Jeff, and Kendahl
Residence Mankato, Minnesota, United States
Alma mater Minnesota State University
Harvard Business School
Occupation Businessman and Entrepreneur
Owner, Minnesota Timberwolves and Minnesota Lynx

Glen A. Taylor (born April 20, 1941) is an American billionaire businessman who is the majority owner of the Minnesota Timberwolves National Basketball Association team, owner of the Minnesota Lynx WNBA basketball team, owner of the Star Tribune, and a former member of the Minnesota Senate.

Early life and education

Taylor was born in Springfield, Minnesota, and grew up on a farm in Comfrey, Minnesota. He graduated from Comfrey High School in 1959, and received a bachelor of science in mathematics, physics and social studies from Minnesota State University, Mankato, in 1962.[1][2] In 1978 he received an executive MBA from Harvard Business School.[3]

During and after college, he worked at Carlson Wedding Service (later Carlson Craft), a Mankato print shop specializing in formal invitations. In 1975, company owner Bill Carlson wanted to retire, and Taylor offered to pay $2 million over the course of 10 years for the company.[4]

Later life

The purchase (which he paid off early) formed the basis for the Taylor Corporation, a privately held multinational printing and electronics company with more than 15,000 employees and based in North Mankato, Minnesota. Taylor continues to serve as chairman and CEO.[4]

Taylor was a Republican Minnesota State Senator from 1981 to 1990, serving as assistant minority leader from 1983 to 1985 and Minority Leader from 1985 to 1988.[3]

In 2014, he purchased the Star Tribune for about $100 million.[5]

Taylor has been ranked No. 149 on the Forbes 400 and his company No. 254 on Forbes ranking of private United States corporations.

In 2015, his net worth was reported by Forbes to be $1.86 billion.[6]

Sports team ownership

Taylor purchased majority ownership of the Minnesota Timberwolves NBA basketball team in 1994 and purchased the Minnesota Lynx WNBA basketball team in 1999. Taylor was in talks to buy the Minnesota Twins but nothing came of it.[3]

In 2000, he was banned for nearly a year for signing Joe Smith to a secret contract in violation of the league's salary cap rules. Before Donald Sterling, Glen Taylor was the only NBA owner to be suspended for more than a couple of games.

In 2005, he was rumored to be a possible buyer for the Minnesota Vikings, but was outbid by Zygi Wilf.

He is currently the chairman of the board of governors for the NBA.

References

  1. ↑ Doug Anderson (14 September 2015). "Glen Taylor biography". MnSCU Press Releases. Minnesota State Colleges and Universities. Retrieved 27 April 2016.
  2. ↑ "Influential Leaders". American Association of Colleges of Business. Retrieved 27 April 2016.
  3. 1 2 3 "Glen Taylor". Twin Cities Business Magazine. 1 July 2002. Retrieved 27 April 2016.
  4. 1 2 "Taylor Corporation Website: About Glen Taylor". Taylor Corporation. Retrieved 27 April 2016.
  5. ↑ "July 1, 2014: Glen Taylor finalizes purchase of Star Tribune". StarTribune.com. 2014-07-01. Retrieved 2015-09-27.
  6. ↑ "Glen Taylor". Forbes. Retrieved 2015-09-27.
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