Click herefor Greene's political website, where he also offers somefacts about some of the more controversial aspects of his life, such ashow he made his fortune and his personal dealings with Mike Tyson and Heidi Fleiss.Greene, 55, earned more than $800 million by betting against the subprime mortgage market during the recent real-estate boom, said the report. He has been called "The Meltdown Mogul" and "The Reluctant Billionaire."
He is from Worcester, Mass., and has a Bachelor's degree in political economy from Johns Hopkins University and an MBA from Harvard University. Recently married to Mei Sze Greene, he has a newborn son and now calls Palm Beach his home, the report added.
"I work from our home in Palm Beach, as well as from several other homes or from our boat. I manage a multibillion-dollar portfolio of diversified investments and a charitable foundation," he told the newspaper.
Coral Gables, Fla.-based Florida Sunshine Investments manages more than $1 billion worth of apartment buildings and commercial properties throughout the United States. It operates Overland Park, Kansas-based Sunshine Energy LLC, which employs more than 1,100 people in 146 gas stations and convenience stores. The company sells and distributes more than 300 million gallons of gasoline annually. Sales for Sunshine Energy will exceed $1 billion in 2010.
(Click here for previous CSP Daily News coverage of Greene and Sunshine.)
Through Florida Sunshine Investments, in September 2009, Greene picked up Crescent Oil Co Inc. at auction for $11 million, as well as Appalachian Oil Co. for $6.25 million from Titan Holdings Corp., Richardson, Texas. Prior to the deal, Greene was a property owner for some of the Crescent Oil sites operated on a lease basis.
(Click here for previous CSP Daily News coverage of the byzantine saga of Crescent, Appco and Titan.)
The Post asked:
Your first break in the business? "In the summer of 1973, I was working at The Breakers and it was a slow season. I was not making great tips. I answered an ad for telephone sales in West Palm Beach and was attracted to the position because it paid "$2.50 per hour or commission.
"Minimum wage was $1.60 per hour. I got the hang of it quickly and my commission the first day was $93 - much higher than the $20 I would have been paid by the hour. I ended up managing telemarketing operations around the country during every vacation when I wasn't in class at Johns Hopkins. I continued the work for almost three years after I graduated. I saved every penny I made and put away more than $100,000 from 1974 to 1977. This $100,000 was the seed money for my first real-estate investments."
How do you keep up with your customers? "Our customers are tenants, convenience store owners and convenience store customers. In each case, we try to anticipate what they want, need and expect from us and deliver 200% of that."
Best business advice you ever got? "All you have long-term is your reputation."
What you tell young people about your business? "Work hard and save. Don't be afraid to take big chances."
What do you know now that you wish you had known when you started your career? "Someone once said something very simplistic but it stuck with me: 'It all blows over eventually.' When I was younger, I would sometimes become overly concerned over what ended up being a minor issue. Now, I stay focused on the big picture and all of the positives and I don't let little problems and issues upset me."
Every successful person grows from failure. What did you learn from your biggest professional failure? "Believe in yourself and the fundamentals of what you are doing. Things are never as great as they seem when they're going well, nor are they as bad as they seem when things are going poorly. Try not to panic and stay focused on your long-term goals."
What is the most important trait you look for when hiring? "Intelligence, a good work ethic and honesty."
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