Edgar Kaiser Jr. facts for kids
Quick facts for kids
Edgar Kaiser Jr.
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| Born |
Edgar Fosburgh Kaiser Jr.
July 5, 1942 Portland, Oregon, U.S.
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| Died | January 11, 2012 (aged 69) |
| Occupation | Financier |
| Parent(s) | Edgar Kaiser Sr. |
| Relatives | Henry J. Kaiser (grandfather) Henry Kaiser (cousin) |
Edgar Fosburgh Kaiser Jr. (born July 5, 1942 – died January 11, 2012) was an American-Canadian businessman. He was known for being a financier, which means he managed large amounts of money. He also used to own the Denver Broncos American football team.
Contents
Who Was Edgar Kaiser Jr.?
Edgar Kaiser Jr. was born in Portland, Oregon, on July 5, 1942. His grandfather was Henry J. Kaiser, a famous industrialist who built ships.
His Education and Early Career
Edgar Kaiser Jr. went to Stanford University and earned a degree. Later, he got his MBA degree from Harvard University.
He worked for the U.S. government as a White House Fellow. This meant he was a special assistant to important people. He helped President Lyndon B. Johnson and President Richard M. Nixon. He also assisted U.S. Secretary of the Interior Walter J. Hickel.
In 1980, Edgar Kaiser Jr. became a Canadian citizen. He passed away on January 11, 2012.
Edgar Kaiser Jr. and the Denver Broncos
Edgar Kaiser Jr. bought the Denver Broncos football team in February 1981. He paid $29 million for the team.
Selling the Broncos
In March 1984, he sold his part of the Broncos to Pat Bowlen for $78 million. After the sale, Kaiser Jr. sued Bowlen. He said that their first agreement gave him the right to buy back any shares of the team if they were sold.
Kaiser Jr. claimed that Bowlen broke this agreement. This happened when Bowlen offered a 10% share of the team's ownership to John Elway, a famous Broncos quarterback.
The Lawsuit Outcome
In 2004, a jury first agreed with Kaiser Jr. A judge even said he could buy back 10% of the Broncos. However, Pat Bowlen appealed this decision. The higher court then ruled that the deal with Elway did not break the original agreement. So, Kaiser Jr. did not get to buy back the shares.
His Business Ventures
Edgar Kaiser Jr. held many important jobs in different companies. He was the chief executive officer (CEO) of Kaiser Resources Ltd. This was a family company based in Vancouver.
Other Business Roles
Kaiser Resources sold its coal business to another company. Edgar Kaiser Jr. also served as Chairman and CEO of the Bank of British Columbia from 1984 to 1986. He was also on the board of directors for several other large Canadian companies.
The Kaiser Foundation
In 1985, Edgar Kaiser Jr. started The Kaiser Foundation. This foundation is not connected to the American Henry J. Kaiser Family Foundation.
What the Foundation Does
The Kaiser Foundation is based in North Vancouver, British Columbia. It works to help people understand mental health and addiction. It teaches that these are important health issues. The foundation also created the Kaiser Mental Health and Addictions Awareness Foundation. It also started the Aboriginal Peoples' Health Initiative.
