John S. Middleton

John S. Middleton

John S. Middleton
Citizenship United States
Education Amherst College (B.A.)
Harvard Business School (MBA)
Occupation Businessman
Net worth US$1.8 billion
(April 2015)
Spouse(s) Leigh Middleton

John S. Middleton is an American businessman and philanthropist. He is part-owner of the Philadelphia Phillies of Major League Baseball, holding a 48% ownership stake in the team.

Biography

The Middleton family descend from John Middleton, who founded John Middleton Co., a Philadelphia tobacco shop that evolved into a cigar company, in 1856.[1] Middleton's father, Herbert, bought a 15% stake in the Phillies for $18 million in 1983.[2]

Middleton inherited the family company and ownership stake in the Phillies from his father.[3] He bought family members out of their family conglomerate in 2003 for approximately $165 million with an additional payment of $54 million in dividends.[4] He then sold the John Middleton Co. to Altria for $2.9 billion in 2007.[1][4] By 2015, with Phillies' chairman David Montgomery undergoing treatment for cancer, Middleton began to take a more active role in the Phillies.[5] At the 2015 press conference to announce the hiring of Andy MacPhail as the Phillies' new team president, Middleton stressed the importance of developing the Phillies' analytics department.[2]

Personal

Middleton attended the Haverford School in Haverford, Pennsylvania.[3] He graduated from Amherst College in 1977 with his bachelor's degree[6] and from Harvard Business School in 1979 with his Master of Business Administration.[7] Amherst presented Middleton with the Medal for Eminent Service in 2004.[3] Middleton and his wife, Leigh, won The Philadelphia Award for 2013, given for their philanthropic works.[8] They have two children,[1] and live in Bryn Mawr, Pennsylvania.[9] Middleton's sister, Anna, filed a lawsuit against her brother in 2015 resulting from the 2003 buyout.[4]

References

  1. ^ a b c "Philadelphia Award shines a light on Middletons' philanthropy". philly-archives. Retrieved June 30, 2015. 
  2. ^ a b "Phillies ownership has a face after all". Philly.com. June 30, 2015. Retrieved June 30, 2015. 
  3. ^ a b c "Area cigar firm fetches $2.9 billion Middleton has been puffin' since 1856.". philly-archives. Retrieved June 30, 2015. 
  4. ^ a b c Fernandez, Bob (April 13, 2015). "Sibling battle: Phillies co-owner Middleton in business dispute with sister". Philly.com. Retrieved May 10, 2015. 
  5. ^ "Amaros mandate for 2015 Phillies: Instant Makeover". delcotimes.com. Retrieved June 30, 2015. 
  6. ^ "Bill Conlin - Phils' part-owner has money to burn". philly-archives. Retrieved June 30, 2015. 
  7. ^ "John S. Middleton ’77 - Amherst College". amherst.edu. Retrieved June 30, 2015. 
  8. ^ "If you ever wondered how Phillies owner John S. Middleton made his $2.9 billion...". Comcast SportsNet Philadelphia. Retrieved June 30, 2015. 
  9. ^ "Bryn Mawr couple to be honored as recipients of the 2013 Philadelphia award". Mainline Media News. Retrieved June 30, 2015.