Who did Teddy Forstmann leave his money to?

Theodore Forstmann, an American businessman and sports promoter, stated in a May interview with the New York Times that he did not want the following to appear in his obituary: “He did this and that, and then he passed away from brain cancer. No way.” Teddy, or Ted, Forstmann, a New York businessman who participated in the frenetic takeover boom that characterized the latter quarter of the 20th century, has away at the age of 71. He was in fact a colorful figure.

Forstmann was the second of Julius Forstmann’s six children and was born in Greenwich, Connecticut. Julius Forstmann was a prosperous textile merchant who had inherited his riches from his father. Teddy was up in a conventionally wealthy east coast family and received degrees from Yale and Columbia Universities.

Although his career as a wealthy financial entrepreneur, which included acquiring companies like Gulfstream Aerospace and Dr. Pepper to build riches, may appear to be a typical success story from the outside, the strategies he used and the thinking underlying them were anything but traditional.

He was first very wary of “junk bonds,” high-yield financial borrowings with a credit rating below investment grade. His own business, Forstmann Little, established in 1978, was refining the “leveraged buyout,” where purchases are financed primarily by bank borrowings and by equity capital put forward by the buyers themselves. While the majority of his competitors were lubricating their deals with the bonds. The bank loans are subsequently repaid through the sale of the acquired company’s assets or by cash flow from the business, increasing the value of the equity owned by the buyers. For instance, Dr. Pepper made 12 times its initial investment in just two years around the middle of the 1980s.

Who did Teddy Forstmann leave his money to?

Teddy Forstmann passed away in November of last year after a battle with brain cancer. He had an affair with Padma Lakshmi, the host of Top Chef, and it has come to light that he left Krishna, Lakshmi’s 2-year-old daughter, a trust fund.