Vincent Viola facts for kids
Quick facts for kids
Vincent Viola
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Viola in 2017
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Vincent James Viola
1956 (age 68–69) New York City, U.S.
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| Alma mater | United States Military Academy (BS) New York Law School (JD) |
| Political party | Republican |
| Spouse(s) | Teresa Viola |
| Children | 3 |
Vincent "Vinnie" Viola (born in 1956) is a successful American businessman and a veteran of the United States Army. He is known for owning the Florida Panthers, a professional ice hockey team in the National Hockey League (NHL). Viola also founded and leads Virtu Financial, a company involved in electronic trading. He owns St. Elias Stables, a horse racing stable, and co-owns the famous racehorse Always Dreaming, which won the 2017 Kentucky Derby. For a few years, he was the chairman of the New York Mercantile Exchange (NYMEX).
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Early Life and Military Service
Vincent Viola was born in 1956 in Williamsburg, Brooklyn, New York City. His father, an immigrant from Italy, worked as a truck driver and served in the U.S. Army during World War II. His father's military service greatly inspired young Vincent.
After finishing Brooklyn Technical High School, Viola attended the United States Military Academy at West Point, New York. He played on the sprint football team. In 1977, he graduated from West Point with a bachelor's degree. He then became a second lieutenant in the United States Army. He served with the 101st Airborne Division at Fort Campbell for several years. Later, he earned a law degree from New York Law School in 1983.
Building a Business Career
Viola started his business journey as a trader at the New York Mercantile Exchange (NYMEX) in 1982. He invested $10,000 to buy a spot on the exchange. He helped develop NYMEX by serving on its board of directors. He was also the chairman of NYMEX from 2001 to 2004. During this time, he became very successful in trading oil.
Over the years, Viola launched several businesses. In 1987, he started Pioneer Futures, a major futures trading company. In 1988, he founded The Independent Bank Group, a bank based in Texas. He also co-founded EWT, LLC and Madison Tyler, LLC, which were electronic trading companies.
In 2008, Viola founded Virtu Financial. This company specializes in electronic market making, which involves quickly buying and selling financial assets. Virtu Financial became a public company in 2015, with its shares traded on NASDAQ.
A book written in 2011, The Asylum, described Viola as a strong leader. The previous chairman of NYMEX, Lou Guttman, said that Viola "exuded leadership" and had an "amazing personality." He was seen as a smart businessman who was good at finding opportunities. By December 2016, Vincent Viola's net worth was about $1.78 billion.
Nomination for Secretary of the Army
In December 2016, then-President-elect Donald Trump announced his plan to nominate Vincent Viola for the position of United States Secretary of the Army. This role involves leading the U.S. Army.
However, Viola later decided to withdraw his name from consideration on February 3, 2017. He explained that he could not meet all the rules set by the United States Department of Defense regarding his personal businesses. He had tried to separate himself from his business ventures, including transferring ownership of the Florida Panthers to his family.
Giving Back to the Community
After the tragic September 11 attacks, Vincent Viola helped establish the Combating Terrorism Center at West Point. He was the main financial supporter when the center was created. He also founded Rowan Technology Solutions, a company that helps cadets learn about military history, science, and leadership. Viola has also supported Fordham University by funding a special teaching position in Catholic Theology.
Personal Life
Vincent Viola and his wife, Teresa, have three adult sons. They live in New York City. The couple are both very involved in horse racing. They own St. Elias Stable and Teresa Viola Racing. They are also co-owners of the famous racehorse Always Dreaming, which won the Kentucky Derby.
