John C. Malone is an American billionaire who is best-known for being the Chairman of Liberty Media. However, it should be mentioned that he possesses a similar influence over a couple of companies that are connected to Liberty Media, which is on top of other ownership stakes in other companies. What Are 10 Things You Didn’t Know About John C. Malone, the prestigious and impressive owner of the Atlanta Braves?
1. Born in Milford, CT
Malone was born in the city of Milford, which can be found in Connecticut’s New Haven County. Like a lot of cities in Connecticut, Milford underwent a process of suburbanization in the post-World War II period, with the result that it is counted in the New York metropolitan area. However, it is interesting to note that the city is home to a number of prominent companies such as Schick and Doctor’s Associates, Inc.
2. Can Trace His Lineage to Cork County
For those who are unfamiliar, Malone is an Irish name, so it should come as no surprise to learn that Malone can trace his lineage to Ireland. To be exact, Malone’s family came from County Cork, which is both the biggest and the most southern of the counties that make up the Republic of Ireland. Nickname-wise, County Cork is sometimes called the Rebel County, having been named thus because of its support for a pretender to the English throne centuries and centuries ago.
3. Studied Electrical Engineering
In school, one of the subjects that Malone studied was electrical engineering. In short, electrical engineering is an engineering discipline that came into existence in the latter part of the 19th century, which was when telephones and other electricity-using machines started seeing use. However, since that time, electrical engineering has expanded by leaps and by bounds, so much so that it now encompasses numerous sub-fields in its own right.
4. Studied Economics
Besides electrical engineering, Malone studied economics as well. The topics that fall under economics have been the subject of much discussion since before the start of human civilization. However, economics didn’t become a true discipline in its own right until Adam Smith published his Wealth of Nations, which introduced a number of revolutionary ideas. For instance, Smith was the one who claimed that land, labor, and capital were the three factors of production, which was a considerable change from the earlier emphasis on the overwhelming importance of agriculture.
5. Studied Industrial Management
Later, Malone went on to study industrial management at Johns Hopkins University. For those who are unfamiliar, industrial management is the branch of business administration that is focused on companies in the manufacturing sector as well as the various functions that are needed to keep them running. As such, it can trace its roots to factory management, which is one of the reasons that industrial management still retains a very close relationship with the various engineering disciplines in the present time.
6. Was Targeted By a Poison Pill Defense
In 2005, Malone owned 32 percent of the shares in News Corporation. As a result, there were reports that Rupert Murdoch was concerned that he could lose control of the corporation to Malone, which is why he made an attempt to eject Malone using a poison pill tactic. In short, a poison pill tactic in this context means making a takeover either more expensive or otherwise more complicated, meaning that it can take on various forms. One excellent example of a poison pill tactic would be a flip-in poison pill, which is when the shareholders besides the person who could carry out a takeover are permitted to buy more shares at a discounted price.
7. Huge Landowner
Malone is the single biggest landowner that can be found in the United States, seeing as how he is said to own 2,200,000 acres of land. Besides his holdings in the United States, Malone owns land in other countries as well, with Ireland being a particular favorite.
8. Owns Humewood Castle
For instance, Malone is the current owner of a place called Humewood Castle, which in spite of its name, isn’t a castle but rather a sizable mansion that can be found in County Wicklow. In short, the place started out as a residence for the powerful Hume family, which commissioned the building in the late 19th century as a summer retreat. Humewood Castle was very expensive, with the result that it was so over-budget that it winded up bankrupting the architect who had been charged with the design process.
9. Is a Libertarian
Politically, Malone is a libertarian. Theoretically, this means that he supports a smaller government that can’t interfere much in either personal matters or economic matters. In practice, well, there are a lot of U.S. libertarians who wind up supporting the Republicans, with Malone being an excellent example. For instance, he was one of the biggest donors to Trump’s inauguration at $250,000, which was in addition to another $250,000 from his colleague Greg Maffei and then similar-sized donations from both Liberty Media and Liberty Interactive.
10. Has a Reputation For Complicated Corporate Structures
Malone is sometimes known because of a reputation for complicated corporate structures. Something of this can be seen in how his business empire isn’t collected under a single corporate umbrella but instead spread out to a number of them. For instance, both Liberty Global and the company that was once called Liberty Interactive originated from Liberty Media, but they are actually separate companies in their own right even though they are also controlled by Malone.