Age, Biography and Wiki

Alberto Vilar was born on 4 October, 1940, is an American businessman (1940–2021). Discover Alberto Vilar's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is he in this year and how he spends money? Also learn how he earned most of networth at the age of 80 years old?

Popular As N/A
Occupation N/A
Age 80 years old
Zodiac Sign Libra
Born 4 October 1940
Birthday 4 October
Birthplace N/A
Date of death 4 September, 2021
Died Place N/A
Nationality

We recommend you to check the complete list of Famous People born on 4 October. He is a member of famous businessman with the age 80 years old group.

Alberto Vilar Height, Weight & Measurements

At 80 years old, Alberto Vilar height not available right now. We will update Alberto Vilar's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Physical Status
Height Not Available
Weight Not Available
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Dating & Relationship status

He is currently single. He is not dating anyone. We don't have much information about He's past relationship and any previous engaged. According to our Database, He has no children.

Family
Parents Not Available
Wife Not Available
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Alberto Vilar Net Worth

His net worth has been growing significantly in 2023-2024. So, how much is Alberto Vilar worth at the age of 80 years old? Alberto Vilar’s income source is mostly from being a successful businessman. He is from . We have estimated Alberto Vilar's net worth, money, salary, income, and assets.

Net Worth in 2024 $1 Million - $5 Million
Salary in 2024 Under Review
Net Worth in 2023 Pending
Salary in 2023 Under Review
House Not Available
Cars Not Available
Source of Income businessman

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Timeline

1940

Alberto Vilar, a.k.a. Albert Vilar (October 4, 1940 – September 4, 2021) was an American investment manager who became particularly known as a patron of opera companies, performing arts organizations, and educational institutions.

1979

In 1979, along with Gary Tanaka, he founded Amerindo Investment Advisors, an investment advisory firm based in San Francisco and New York, with offices in London.

1981

In 1981, Vilar made his first $1 million.

2000

Amerindo's main investment activities were in technology funds, which the stock market crash of 2000 severely affected.

The value of the Amerindo funds declined sharply, and Vilar began to default on his pledges to arts institutions.

Vilar served on the Washington & Jefferson College Board of Trustees.

The arts organisations to which Vilar pledged donations included:

A lasting effect, however, clearly came from the severe decline in his personal fortune due to the crash in technology stocks around 2000.

It is documented that Vilar still continued to make pledges even as his personal and his company's fortunes continued to plunge.

Among the pledges were $5 million for money for voice loss research after meeting Julie Andrews and $30 million to a Berlin opera company: "Asking Alberto for money was like offering an alcoholic a drink".

However, many of his pledges were never paid.

In a 2000 interview with Philipp Blom, Vilar had estimated his donations to opera houses and other performing arts centers in some 150 million dollars granted over the previous 10 years

Many of the organizations to which Vilar had pledged donations gradually began to remove his name from parts of their institutions where it had been prominently placed.

2002

As a result of his philanthropy, in 2002 the Americans for the Arts organization gave him their National Arts Award, for "Corporate Citizenship in the Arts".

2005

Vilar and Tanaka were arrested on May 26, 2005, on charges of securities fraud.

The government claimed that the two appropriated as much as $5 million of an Amerindo client Lily Cates' (heiress and mother of actress Phoebe Cates) money for personal use.

It was alleged that Vilar used the money to pay for some home repairs and to make good on previously-promised charitable contributions.

It was also alleged that Tanaka used money to purchase thoroughbred race horses.

The SEC also filed a civil suit.

.

According to Stewart's article in The New Yorker, an extensive analysis of Vilar's rise and fall, "Vilar maintains that when he was arrested he was on the brink of a financial comeback. Everything I predicted about the Internet has come true.... I'm ready to go back to work and make money."

Stewart continues: "if convicted, Vilar and Tanaka face fines of more than ten million dollars and prison terms of up to a hundred and fifty-five years. But Vilar says, 'We'll sort this out. I'll get beyond this. I will always try to help others.... I still love opera and classical music.... The Met is not going to get my money, but it will not kill my love of music.'"

The charges did not allege wrongdoing at Amerindo's mutual funds, and when the firm was wound up there were no missing funds.

But Morningstar, a fund analysis company, advised investors to withdraw their money in any case, because the funds had been performing very poorly.

In fact, as with many other funds investing in internet companies, investors had already been pulling out for some time, reducing assets and causing expense ratios to increase.

Extensive seizures of records and computers in the course of the investigation compelled Amerindo's board to merge the fund with Munder Capital Management's fund, Munder NetNet, later renamed Munder Internet.

2006

As noted in James Stewart's 2006 New Yorker profile of Vilar, at some point in 2002, Vilar was hospitalized for a series of operations on his back, and he claims to have nearly died as the result of complications: "they were ready to give me the last rites".

There was speculation that he might have missed some planned donations as the result of his illness.

2007

The seizures were ruled excessive by a federal judge in early 2007.

2008

Following the collapse of his investment firm, Amerindo Investment Advisors, he was tried and convicted in November 2008 on charges of money laundering, investment advisor fraud, securities fraud, mail and wire fraud.

Vilar and Tanaka's trial began in September 2008, with Herald Price Fahringer as Vilar's defence attorney and Glenn Colton representing Tanaka.

The trial concluded on November 19, 2008 with the conviction of Vilar on all 12 counts with which he had been charged and the conviction of Tanaka on 3 counts.

2010

He was sentenced in February 2010 to nine years in prison and released in 2018.

Originally from West Orange, New Jersey, Vilar earned an economics degree from Washington & Jefferson College, a liberal arts college in Washington, Pennsylvania.

He then earned a master's degree in economics at Iona College in New Rochelle, New York.

On February 5, 2010, Vilar was sentenced to nine years in prison, while Tanaka was sentenced to five years.

They were both featured in the fifth season of the television series American Greed.

2012

In October 2012, after having served more than 2 1/2 years at the Fort Dix, New Jersey, Federal Correctional Institution, the appeals court, over the objections of the prosecution, ordered his immediate release pending the appeal.

2013

Vilar and Tanaka were returned to jail in November 2013.

2014

In April 2014, Vilar was returned to prison, and sentenced to an additional year for preventing the victims' families from recovering their lost funds.