He is also survived by his best friend and brother, Samuel Evans Wyly and his wife Cheryl, and Sam's children, Evan, Laurie, Lisa, Kelly, Andrew and Christiana. ... and Sam Wyly and Dee Wyly … , On October 19, 2014 Sam Wyly filed for Chapter 11 bankruptcy, having lost one of the cases brought by the SEC, and wanting to force the IRS to “put up or shut up” about any taxes he owed related to his family's offshore trusts.  When Honeywell rejected his plan for a new technology computing center to replace the obsolete Univac at SMU, he quit to do it himself. Wyly had earlier worked with Joe Kirven, head of the Dallas Negro Chamber of Commerce, on a similar effort. When a British rock star ‘married’ her Texan heiress girlfriend, the two women wanted their big day to be unforgettable – and spent more than £100,000 to make sure. Kimbal Musk’s Wife + Kids. In 1979, Wyly settled Securities and Exchange Commission (SEC) charges that he made undisclosed payments to associates to buy up company bonds as part of a plan to stave off bankruptcy for University Computing after the $100 million Datran loss. Share Tweet … Wyly and his late brother, Charles, spent more than $160 million on a wide range of charities in the last 25 years. Perot got 20 percent, but with two Texans on the ballot, "another Bubba" from Texarkana—Bill Clinton—won the White House. 385, with a net worth of $1billion. Wyly, 77, of Dallas, filed for Chapter 11 bankruptcy protection in October. Wyly played nose guard on his football team in high school. Charles Wyly. Wyly's memoir, 1,000 Dollars & an Idea, was published in September 2008. Wyly was married to Cheryl  from 1994 to 2016. , In 1968, he set up the Sam Wyly Foundation to help black business owners. Cedars Social owner Monica Greene would not elaborate other than to confirm that the restaurant had closed down for a celebrity-studded private event. Sam attended Louisiana Tech University, partly financing his tuition by selling class rings. In 1963, he struck out on his own. In 2006, Forbes magazine estimated his net worth at $1.1 billion. Sam Wyly, the author of five books, at a 2018 event for his latest book, "Dallas Got It Right!" Wyly has been a significant supporter of Salvation Army, Deaf Action Center, Human Rights Organizations, animal shelters in Dallas and Hillsboro, Texas, and Aspen, health care for people surviving with Lou Gehrig's disease, and the Aspen Writers' Foundation. Sam and Caroline Wyly filed for bankruptcy. Deborah Dyer… Sam Wyly and his wife Cheryl have given McCain's political action committee a total of $10,000, according to records on the PAC's Web site. Wyly has six adult children, Evan, twins Laurie and Lisa, Kelly, Andrew, and Christiana.  In the summer, he rough necked in the Delhi Oil Field. The businessman is married to his … His family descended from a long line of Presbyterian and Episcopalian ministers, college founders, and teachers. 2 stellar West Texas parks are among best places to stargaze in U.S. Wyly’s wife, who didn’t file for bankruptcy, may hold “significant assets” and should help pay the family’s expenses, the SEC said.  On May 12, 2014, a civil jury in New York found the Wyly brothers liable on counts for use of offshore trusts. She’s an interactive artist and architect who lives in New York. " The largest tax claim ever imposed against an individual. On July 29, 2010, the SEC charged Charles and Sam Wyly with fraud for violating federal securities laws governing ownership and trading of securities by corporate insiders. It was the first time that Republican presidential money had matched that of Democrats in Texas, which had been part of the "Democratic Solid South" since the Civil War. Additionally, Sam, Cheryl, and Charles Wyly … Date of Birth: October 28, 1981. She dedicates much time to promoting sustainable living.  Hamilton began writing about Sam in software journals in the 1970s. The Wylys' new full-color richly illustrated book offers a dynamic and incisive guide to Texas. Cheryl was a former Texas All-State volleyball player at Farmers Branch High School and Valedictorian of Texas A&M's School of Architecture. 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The Wyly brothers denied any wrongdoing, and stated that they just followed the advice of their lawyers and CPAs.. The groom was Kimbal Musk, brother of Tesla founder Elon Musk. This is not Wyly's first trip down the aisle. In 1978, he married Victoria L. Kimbal Musk has three children with his ex-wife, Jen Lewin. , In April 2015, the Internal Revenue Service filed claims amounting to $3.2 billion for income taxes, interest and penalties against Wyly and the estate of his late brother. His last book was The Immigrant Spirit: How Newcomers Enrich America, and his May 2018 book is Dallas Got It Right!, co-authored with Laurie Matthews and Andrew Wyly. Wyly's paternal grandfather was a lawyer who managed plantation assets and helped poor Black convicts get paroled from Angola Prison. Also co-chairing the event was Rob Allyn, a Texas PR man who was paid $46,000 to produce the Wylys' "Republicans for Clean Air" ads. They had three children together throughout the duration of their marriage, but the marriage ended on good terms. Sam was surprised with the charges, because historically such cases were brought when public investors lost money. He's heavily invested in sustainable/urban farming and is giving away his personal Tesla to raise funds for Big Green, a nonprofit aimed at fostering food literacy among schoolchildren. His illustrated biography, Beyond Tallulah, How Sam Wyly Became America's Boldest Big-Time Entrepreneur, by Dennis Hamilton (Melcher Media) was published in 2011.  The book claims to explain why California, New York, and the Rust Belt states are losing jobs to Texas and the Southern and Rocky Mountain states. Wyly and his brother Charles, older by a year, were close all their life. He had relied on the advice of their lawyers and accountants regarding the legality of the offshore trusts.. Personal Life & Legacy. After Michigan, Wyly went to Air Force Boot Camp in San Antonio and to Dallas for a job with IBM. He is preceded in death by their first child Carla Elizabeth Wyly and his parents Flora and Charles J. Wyly, Sr. On the same evidence, Wyly argued that the payments were a division of … Beginning in 1993, his son Evan, a Maverick co-founder, and money manager. Sam Wyly’s former wife, Torrie Steele, sued in bankruptcy court in Dallas, claiming that his responsibility to pay her $500,000 a year is a support obligation that’s not wiped out by Chapter 11. Diners trying to grab a bite at Dallas restaurant Cedars Social on April 7 were out of luck, as the newly reimagined Mexican restaurant in the Southside neighborhood was shut down all day for a reception celebrating a high-profile wedding. Three and a half years later, Wyly left IBM for Honeywell, establishing their computer business in Dallas, Ft. Worth, and Oklahoma. He is currently married to Christiana Wyly, daughter of billionaire Sam Wyly. The menu was said to be primarily vegetarian and gluten-free, with passed appetizers; a beet salad with goat cheese and avocado; grilled artichokes and Mexican-style corn on the cob; vegetarian tamales; potatoes with poblano and onion; black bean soup; and shrimp and grits. In 1960, Wyly married a lady named Rosemary but the couple separated after approximately fifteen years of being together. " Sam backed George H. W. Bush for president in 1980 and 1988. , It may require cleanup to comply with Wikipedia's content policies, particularly. Wyly took the program's first computer course, which led him to code programs in machine language on the IBM 650 computer. In 1996, IPOed 19 percent of Sterling Commerce for $288 million in the "dot.com" boom of 1995–2000. But according to an attendee, it was an "intimate" affair with about 100 people, which included friends, family members, and notables such as Colorado Governor John Hickenlooper — Musk is a resident of Boulder — and actor Val Kilmer, who also made an appearance on April 8 at Fan Expo, a pop culture convention at Kay Bailey Hutchison Convention Center. In 2006, Wyly was the largest investor in the online social networking company Zaadz.com at an estimated 1.5m. As of 2006, Wyly was co-founder with son, Evan, the largest clean-energy producer. In 2013, she married "Skin," aka Deborah Anna Dyer, singer for '90s U.K. band Skunk Anansie, but they split in 2015. They played high school football, attended Louisiana Tech University, and joined Pi Kappa Alpha fraternity together. Greene is also friends with Wyly.  Charles was killed in a car accident in Aspen's Roaring Fork Valley in 2011. Curtis Wackerle, "Explore building under contract to Wyly family", Learn how and when to remove these template messages, Learn how and when to remove this template message, "Sam Wyly 'Innovates To Opportunity' Time And Time Again", "The 400 Richest Americans: #354, Samuel Wyly", "Sam Wyly, Chairman, Sterling Software Inc. and Michaels Stores, Inc.", "TECHNOLOGICAL INNOVATION AND MONOPOLIZATION", http://www.writers.net/writers/books/40761, "End of an era: Explore sells for $4.6 million", "The View From GreenMountain; Financier Mixes Business, the Environment and Politics", Selling secret accounts draws scrutiny: Senate report blasts Dallas firm for offshore services for the masses", "SEC Closes The Book On Sam Wyly Case With $198M Paid", SEC Charges Corporate Insider Brothers With Fraud, SEC charges billionaire Texas brothers who donate to GOP with fraud, "Texas tycoon Wyly found not liable for insider trading", "Texas investor Sam Wyly files for bankruptcy after losing SEC fraud case", "Samuel Wyly in Bankruptcy Facing $400 Million Forfeiture", "Former Dallas billionaire Sam Wyly works out $198.1M deal to resolve legal issues", "Bankrupt Dallas billionaire Sam Wyly's Highland Park mansion is sold", "SEC Wants Texas Businessman Sam Wyly To Pay $255 Million More For Involvement In Fraud Scheme", "Ex-Billionaire's Kids Try to Hang Onto Trust", "Billionaire brothers under a microscope: They're known for gifts to charities, politics, but tax shelters scrutinized", "Man With his Back to the Wall: With his Once-proud Empire Crumbling Around him, UCC's Sam Wyly is Still Hanging on"f, "Kimbal Musk and Wyly heiress celebrate wedding at Dallas restaurant", https://en.wikipedia.org/w/index.php?title=Sam_Wyly&oldid=990389687, Wikipedia articles with style issues from December 2018, Articles with a promotional tone from December 2018, Wikipedia articles with possible conflicts of interest from December 2018, Articles with multiple maintenance issues, Wikipedia articles with SNAC-ID identifiers, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, Evan, Laurie, Lisa, Kelly, Andrew, Christiana, Rosemary Wyly (married 1960-1976, divorced), Victoria Steele Wyly (married 1978, divorced), 1967: Bought the ten-store restaurant chain, 1968: Co-founded Earth Resources Company, an oil-refining and silver-mining company, that built a refinery in North Pole, Alaska to make jet fuel for airplanes flying to Asia over the Arctic Sea. In early 2016, U.S. Bankruptcy Judge Barbara Houser ordered Sam Wyly to pay $1.1 billion in back taxes, interests and penalties. He settled without acknowledging any wrongdoing. Brewer, their lawyer, can be traced to the end of Sam Wyly’s marriage to his second wife, Torie Steele. Samuel E. Wyly, known as Sam Wyly (born October 4, 1934), is an American entrepreneur and businessman, author, philanthropist, and major contributor to conservative candidates. His first wife was Rosemary (m.1960-d.1976), his second wife Victoria Steel (m.1978) and his current wife is Cheryl. No criminal charges were made by either Grand Jury.  On July 11, 2014, Sam Wyly and his late brother Charles, were found not liable for insider trading by a U.S. Judge in New York. The Memphis refinery "got the lead out" of gasoline and fueled the fast growth of Federal Express and overnight air mail delivery. Wyly jokes that this was an IRS "billing error." Exxon's headquarters is a few miles from my house. He is American by natinoanliy. They worked together in a large number of businesses that they either owned or ran. As a result of the judgment, mounting legal bills, and the $500,000 in annual support he pays to his ex-wife, Sam Wyly filed for bankruptcy in October. The Wyly brothers made an immense fortune for themselves, employees and stockholders through investments in Michaels Stores and several software companies. : Nixon, and later President Ford, named Wyly chairman of a commission to foster businesses in mostly Black neighborhoods. Steele.. In 1968, Sam Wyly was a delegate to the Republican Convention at the request of Chuck Percy, an Illinois Senator and former CEO who he met at a “Young Presidents’” event. A judge found she had no knowledge of the scheme. Passersby saw a heated tented area outside Cedars Social, famous for its patio overlooking the downtown Dallas skyline, that was beautifully decorated with scads of flowers. 13d-l, 13d-2, 14a-3 and I4a-9 by Sam WYlY and Charles Wyly; (2) violations ofExchange Act Sections 13(a) and 14(a) and Rules 13a-l, 14a-3 and 14a-9 thereUnder by Michaels, Sterling Software, Sterling Commerce, and ScottishRe; and (3) violations ofExchange Act Section l3(d) and Rules 13d-1 and l3d-2 thereunder by certain Isle ofMan trustees; and 5 Evan Wyly. Paid out the other 81 percent to Sterling Software shareholders as a tax-free dividend. Sam Wyly Must Pay Ex-Wife $500,000 a Year Despite Bankruptcy Bill Rochelle, February 20, 2015, 1:02 PM EST SHARE THIS ARTICLE. The answer, according to Sam Wyly and Andrew Wyly, is simple: Texas Got It Right! He is also famous from other names as Sam Wyly.  After Percy lost the nomination, Wyly became Chairman for the "Nixon For President" campaign in Texas. , In August 2006, the Dallas Morning News reported that Sam and Charles Wyly were again under investigation by the SEC, a grand jury in Dallas and a grand jury in New York, regarding their use of potentially illegal offshore tax shelters. Multiple dessert options included pralines, a gluten-free tres leches cake, panna cotta, and Mexican wedding cookies. Sam Wyly had apparently agreed to sell the home along with other assets, as part of his “deal” with the feds. Wyly died later at Aspen Valley Hospital. The ‘Sam Wyly Foundation’ was established by him in 1968, to help entrepreneurs who owned startup companies with their endeavors. In April 2018, Christiana Wyly, an environmental activist, married entrepreneur Kimbal Musk, the elder brother of entrepreneur and Business Magnate Elon Musk. Wyly played a significant role in the following businesses: Cheryl and Sam Wyly purchased Explore Booksellers and Bistro in January 2007, ending concern by Aspen, Colorado locals that the only book store would be converted into condos.. He is the son of Charles Wyly, Sr. (father) and Flora Wyly (mother). , In 2016, Wyly settled with the SEC, entering into a settlement agreement under which he agreed to pay $198.1 million.