Vincent Viola
{{Short description|American businessman (born 1956)}}
{{Use mdy dates|date=October 2024}}
{{Infobox person
|name = Vincent Viola
|image = Vincent Viola (cropped).jpg
|caption = Viola in 2017
|birth_name = Vincent James Viola
|birth_date = {{birth year and age|1956}}
|birth_place = New York City, U.S.
|party = Republican
|alma_mater = United States Military Academy {{small|(BS)}}
New York Law School {{small|(JD)}}
|spouse = Teresa Viola
|children = 3
}}
Vincent "Vinnie" Viola (born 1956) is an American billionaire businessman and U.S. Army veteran. He was for several weeks President Donald Trump's nominee for United States Secretary of the Army, before withdrawing from consideration.{{cite news|last1=Peterson-Withorn|first1=Chase|title=Five Things To Know About Vincent Viola, Trump's Billionaire Pick For Army Secretary|url=https://www.forbes.com/sites/chasewithorn/2016/12/19/five-things-to-know-about-vincent-viola-trumps-billionaire-pick-for-army-secretary/#791780f16547|access-date=January 3, 2017|work=Forbes|date=December 19, 2016}} Viola is the owner of the Florida Panthers of the National Hockey League (NHL),{{cite press release |title=Vincent Viola Becomes Owner Of The Florida Panthers |url=http://panthers.nhl.com/club/news.htm?id=684466&navid=DL |publisher=Florida Panthers |date=September 27, 2013 |access-date=October 6, 2015}} and the founder and chairman of Virtu Financial.{{cite web|url=https://www.vbprofiles.com/people/vincent-viola-568e35e518334407cf000004 |title=Vincent Viola, Founder and Executive Chairman, Virtu Financial |website=Vbprofiles.com |date=September 11, 2001 |access-date=November 23, 2016}} He is also the owner of St. Elias Stables and co-owner, with fellow Brooklynite Anthony Bonomo, of the 2017 Kentucky Derby winner Always Dreaming.{{cite web|last1=Cherwa|first1=John|title=Always Dreaming wins the 143rd Kentucky Derby|url=https://www.latimes.com/sports/sportsnow/la-sp-kentucky-derby-20170506-story.html|website=Los Angeles Times|access-date=May 7, 2017|date=May 6, 2017}} From 2001 to 2004, he was the chairman of the New York Mercantile Exchange (NYMEX).{{cite web|url=https://www.cmegroup.com/media-room/press-releases/2005/9/27/_nymex_strategicadvisorresigns.html|title=NYMEX Strategic Advisor Resigns|publisher=CME Group|date=September 26, 2005|access-date=June 22, 2024}}
Early life, education and military service
Viola was born in 1956 to an Italian-American family in the Williamsburg neighborhood of Brooklyn, New York City, the son of Virginia (Torre) and John A. Viola.{{cite web |url=http://www.miamiherald.com/sports/nhl/florida-panthers/article1955201.html |title=New York businessman leading group purchasing Florida Panthers |work=Miami Herald |date=September 19, 2013}}{{cite web |url=https://www.bradleyfuneralhomes.com/descendant/251599/Virginia/ |title=Bradley & Son Funeral Homes |website=www.bradleyfuneralhomes.com |url-status=dead |archive-url=https://web.archive.org/web/20170104162452/https://www.bradleyfuneralhomes.com/descendant/251599/Virginia/ |archive-date=January 4, 2017}}{{cite news|last1=Osipovich|first1=Alexander|last2=Paletta|first2=Damian|last3=Hope|first3=Bradley|title=Donald Trump Selects Trading Firm Founder Vincent Viola as Army Secretary|url=https://www.wsj.com/articles/donald-trump-selects-trading-firm-founder-vincent-viola-as-army-secretary-1482159528|work=Wall Street Journal|date=December 19, 2016}} His father, an immigrant from Italy, worked as a truck driver after serving in the U.S. Army in the European theater of WWII. His father's Army service made a significant impression on Viola as a youth.{{cite web|url=http://www.westpointcoh.org/interviews/usma-class-of-1977-the-honor-scandal-and-beyond |title= USMA Class of 1977: The Honor Scandal and Beyond |publisher=West Point Center for Oral History |access-date=November 23, 2016}} Upon graduating from Brooklyn Technical High School, Viola attended the United States Military Academy at West Point, New York. Viola played on the sprint football team and was cadet company commander for Company E-4 his senior year.{{Cite web|title=All the ways Trump is having an impact on the sports world|url=https://au.sports.yahoo.com/news/all-the-ways-trump-is-having-an-impact-on-the-sports-world-123933385.html|access-date=October 19, 2020|website=au.sports.yahoo.com|date=January 19, 2017 |language=en}}
Viola graduated with a bachelor's degree from the United States Military Academy in 1977 and was commissioned as a second lieutenant in the United States Army. After graduating from the Infantry Officer Basic Course and Ranger School, he served with the 101st Airborne Division at Fort Campbell{{cite web|url=http://www.netsdaily.com/2009/6/26/1346761/who-is-vincent-viola |title=Who is Vincent Viola? |website=NetsDaily.com |date=June 26, 2009 |access-date=November 23, 2016}} for several years. He received his juris doctor degree from New York Law School in June 1983,{{cite book |url=https://digitalcommons.nyls.edu/cgi/viewcontent.cgi?article=1023&context=commencement_progs |title=Ninety-First Commencement Exercises |date=June 12, 1983 |page=14 |publisher=New York Law School |access-date=November 3, 2021}}{{cite web |title=Landslide Choice for Worst Law School |url=http://abovethelaw.com/2011/12/landslide-choice-for-worst-law-school-in-new-york/ |website=Above the Law |date=December 5, 2011 |access-date=December 23, 2016}}{{cite web |title=Nine Law Schools to Avoid |url=http://thecareerist.typepad.com/thecareerist/2012/03/market-news-money-schools-texas-.html |website=The Careerist |access-date=December 23, 2016}} but did not complete the New York bar exam.
Career
Viola began his business career as a trader in the New York Mercantile Exchange (NYMEX) in 1982, raising $10,000 to purchase a seat on the exchange. He helped build the NYMEX while he served on the board of directors, as chairman of the Technology Committee, the Natural Gas Advisory Committee and the Facilities Committee, co-chairman of the Options Committee, vice chairman of NYMEX from 1993 to 1996, and chairman from March 2001 to March 2004.{{cite web|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=7916688&privcapId=133624510 |title=Vincent J. Viola: Executive Profile & Biography |publisher=Bloomberg |access-date=November 23, 2016}} Prior to and following the Gulf War, Viola earned millions of dollars trading oil.
Viola has launched a number of businesses during his career. In 1987, he founded Pioneer Futures, one of the top fifty futures commission merchants in the US. In 1988, he founded The Independent Bank Group, a Texas-based regional bank which is listed on NASDAQ (IBTX). Viola was also one of the two partners who launched EWT, LLC and Madison Tyler, LLC, two electric trading firms formerly based in Beverly Hills, California, and was able to use the electronic trading technique to his own personal gain. In 2008, Viola founded Virtu Financial, active in electronic market making.{{cite news|first=Matthew|last=Leising |url=https://www.bloomberg.com/news/features/2016-08-11/virtu-never-loses-well-almost-never-in-quest-to-upend-markets |title=Virtu Never Loses (Well, Almost Never) in Quest to Upend Markets |newspaper=Bloomberg.com |publisher=Bloomberg |date=August 11, 2016 |access-date=November 23, 2016}} Viola took Virtu Financial public in April 2015, trading as a NASDAQ listed company (VIRT).{{cite web|url=http://ir.virtu.com/releasedetail.cfm?ReleaseID=906829 |title=Virtu Financial Announces Pricing of Initial Public Offering (NASDAQ:VIRT) |website=Ir.virtu.com |access-date=November 23, 2016}}
Leah McGrath Goodman's 2011 book, The Asylum: The Renegades Who Hijacked the World's Oil Market, describes Viola and his temperament. Goodman wrote that Viola "had a nasty temper, but [predecessor chairman Lou] Guttman says he didn't lose control of his emotions easily" and that "beneath the spit and polish he was still a tough guy from Brooklyn." In the book, Lou Guttman, the previous chairman at the NYMEX, said Viola "exuded leadership. His personality was amazing. He drew people in. He was a phenomenal speaker. Even if he didn't know what he was talking about, he sounded like he knew what he was saying. He was an astute businessman and an extreme opportunist."{{cite web |first1=Barry |last1=Jackson |first2=George |last2=Richards|title=New York businessman leading group purchasing Florida Panthers |url=http://www.miamiherald.com/sports/nhl/florida-panthers/article1955201.html |work=Miami Herald |date=September 19, 2013|access-date=December 21, 2016}}
As of December 2016, Viola had a net worth of $1.78 billion.{{cite web |title=Vincent Viola |url=https://www.forbes.com/profile/vincent-viola/ |website=Forbes |access-date=September 8, 2015}}
Nomination for Secretary of the Army
File:Vincent Viola and Dan Sullivan 01.jpg in January 2017]]
On December 19, 2016, then-President-elect Donald Trump announced his intention to nominate Viola for the position of Secretary of the Army.{{cite web|first1=Jeremy |last1=Herb|first2=Patrick|last2=Temple-West|url=http://www.politico.com/blogs/donald-trump-administration/2016/12/vincent-viola-army-secretary-trump-232809|title=Trump picks businessman Viola as Army secretary|work=Politico|date=December 19, 2016|access-date=December 19, 2016}} The choice was reported to be concerning to the nominated Secretary of Defense General Jim Mattis, who was reportedly not informed of the choice prior to the announcement, a position he would directly oversee, and was concerned about potential trading practices which were not yet fully investigated.{{cite web |last1=Starr |first1=Barbara |url=http://www.cnn.com/2017/01/06/politics/mattis-trump-transition-clash-pentagon-pick/index.html |title=Mattis, Trump team clashed over Pentagon appointment |work=CNN |date=January 7, 2017 |access-date=January 7, 2017}}
Viola withdrew himself from consideration for the position on February 3, 2017, citing his inability to comply with Pentagon regulations regarding personal businesses. Military Times reported that Viola had been searching for ways to divest from his business ventures, including transferring ownership of the Florida Panthers to his family members and transferring responsibility for operations to Vice Chairman Douglas Cifu.{{cite news|last1=Shane III|first1=Leo|title=Trump's pick for Army Secretary drops out|url=http://www.militarytimes.com/articles/trump-viola-withdraws-army-secretary|work=Military Times|date=February 3, 2017|language=en}}
Philanthropy
After the September 11 attacks, Viola helped found the Combating Terrorism Center at West Point, and was the principal funder at its creation.{{cite news|url=https://www.nytimes.com/2016/12/19/us/politics/vincent-viola-secretary-army-trump.html|title=Vincent Viola, Billionaire Businessman, Is Trump's Choice to Lead the Army|newspaper=The New York Times|date=December 19, 2016|access-date=September 18, 2018|last1=Cooper|first1=Helene}}{{cite news|url=https://www.washingtonpost.com/news/checkpoint/wp/2016/12/19/army-veteran-vincent-viola-billionaire-owner-of-the-florida-panthers-named-trumps-army-secretary/|title=Army veteran Vincent Viola, billionaire owner of the Florida Panthers, named Trump's Army secretary|newspaper=Washington Post|access-date=September 18, 2018}}{{cite web|url=https://www.ctc.usma.edu/posts/vincent-viola |title=Vincent Viola |publisher= Combating Terrorism Center at West Point |date=March 28, 2011 |access-date=November 23, 2016}} Viola founded a technology company, Rowan Technology Solutions, to support cadet education in the areas of military history, military science, and leadership.{{cite web|first=Katie|last=Kramer|url=https://www.cnbc.com/2014/11/09/how-west-point-is-becoming-a-proving-ground-for-technology.html |title=How West Point is becoming a proving ground for technology |work=CNBC |date=November 9, 2014 |access-date=November 23, 2016}} Viola has endowed the Avery Cardinal Dulles, S.J. Chair in Catholic Theology at Fordham University.{{cite web|url=http://news.fordham.edu/inside-fordham-category/chair-honors-a-theological-giant/ |title=Chair Honors a Theological Giant |publisher=Fordham University |date=February 2, 2009 |access-date=November 23, 2016}}
Personal life
Viola and his wife Teresa have three adult sons and live in New York City. In 2013, their Upper East Side townhouse was listed for sale at $114 million.{{cite web |url=https://variety.com/2013/dirt/real-estalker/epic-and-epically-opulent-manhattan-townhouse-listed-for-114-million-255/ |title=Epic and Epically Opulent Manhattan Townhouse Listed for $114+ Million |work=Variety |first=Mark |last=David |date=December 16, 2013 | access-date =December 19, 2016}} In January 2021, they sold their townhouse in the Brooklyn Heights Historical District for $25.5 million, setting a borough record.
The couple are both involved in horseracing as the owners of St. Elias Stable and Teresa Viola Racing, respectively. They are co-owners of Kentucky Derby winner Always Dreaming.
References
{{Reflist|30em}}
External links
- {{Commons category-inline}}
- {{C-SPAN|92502}}
{{Florida Panthers}}
{{NHL owners}}
{{DEFAULTSORT:Viola, Vincent}}
Category:American billionaires
Category:American people of Italian descent
Category:Florida Panthers owners
Category:United States Army officers
Category:National Hockey League owners
Category:New York Law School alumni
Category:New York (state) Republicans
Category:People from Williamsburg, Brooklyn
Category:Businesspeople from Manhattan
Category:People from the Upper East Side