William S. Price III
{{Use mdy dates|date=October 2021}}
{{short description|American businessman, investor, and winemaker}}
William S. "Bill" Price III is an American businessman, investor, and winemaker. He is one of the three co-founders and a partner emeritus of the private equity firm TPG Capital, formerly known as the Texas Pacific Group.
Early life and education
Price was born in Los Angeles and grew up in Hawaii.
He received his bachelor's degree from Stanford University in 1978, and his Juris Doctor degree from the University of California, Berkeley School of Law in 1981.
Career
After completing law school, in 1981 Price joined the Los Angeles law firm Gibson, Dunn and Crutcher,{{Cite web|last1=Nalley|first1=Richard|url=https://www.forbes.com/sites/richardnalley/2013/10/17/tpg-co-founder-bill-price-makes-great-wine-you-cant-buy/|title=TPG Co-Founder Bill Price Makes Great Wine You Can't Buy|website=Forbes|access-date=2023-05-21}} where he specialized in corporate securities transactions.
In 1985, he joined Bain & Company,{{cite web |title=Investor Update as of June 30, 2006 |url=https://dignitycapital.com/wp-content/uploads/2019/04/Q2-2006InvestorUpdate.pdf |website=Dignity Fund |access-date=May 22, 2024 |date=2006}} where he rose to become partner and co-head of the financial services practice.
He left Bain in 1991, to work briefly at GE Capital, as vice president of business development and strategic planning.
In 1992, he left GE Capital to co-found the private equity firm Texas Pacific Group (now TPG Capital), with David Bonderman and James Coulter.{{cite news |last1=DeBord |first1=Matthew |title=Former Ford CEO Mark Fields will join private-equity group TPG Capital |url=https://www.businessinsider.com/former-ford-ceo-mark-fields-join-tpg-capital-2017-10 |access-date=May 25, 2024 |work=Business Insider |date=October 17, 2017}} In their first major deal, in 1993 they completed the leveraged buyout of Continental Airlines.{{cite news |last1=Finer |first1=Jonathan |title=Buyout in the Rack of the Ruined |url=https://www.washingtonpost.com/archive/business/2002/08/24/buyout-in-the-rack-of-the-ruined/b454a7ac-29d3-418f-a100-805d98c250b2/ |access-date=May 25, 2024 |newspaper=The Washington Post |date=August 23, 2002}}
During his tenure, Price was also involved with all of TPG's subsequent investments, most notably Beringer, Petco, Ducati and Grohe.{{cite web |title=Advisory Council |url=https://wayback.stanford.edu/was/20190910234539/https://woods.stanford.edu/people/advisory-council |website=Stanford University |publisher=Stanford Woods Institute for the Environment |access-date=May 26, 2024}}
In 2006, Price announced that he would scale back his work at TPG to focus on personal pursuits, including his holdings in wine vineyards.
Price is currently proprietor of Classic Wines, LLC and Price Family Vineyards, LLC, which has invested in Durell Vineyard, Gap's Crown Vineyard, Walala Vineyard,{{cite web|last1=Romano|first1=Aaron|title=Walala Vineyard in Sonoma Coast Sold|url=http://www.winespectator.com/webfeature/show/id/50494|website=Wine Spectator}} Kistler Vineyards, Three Sticks Wines and Lutum.{{cite news |url=http://www.bizjournals.com/sanfrancisco/stories/2006/02/27/daily22.html?jst=s_cn_hl |title=Texas Pacific founder to scale back involvement with firm |work=San Francisco Business Times |date=February 28, 2006}}{{cite web|last=Fish|first=Tim|title=Gap's Crown, a Top Sonoma Coast Pinot Noir Vineyard, Is Sold|url=http://www.winespectator.com/webfeature/show/id/47931|website=Wine Spectator|accessdate=January 23, 2013}} He is currently chairman of Gary Farrell Vineyards & Winery, and was chairman of Kosta Browne from 2009 through 2015.{{cite web|last1=Laube|first1=James|title=Investment Group Buys Majority Ownership of Kosta Browne|url=http://www.winespectator.com/webfeature/show/id/51052|website=Wine Spectator|accessdate=March 10, 2015|date=January 5, 2015}}
Personal life
Price lives in Sonoma, California.{{cite web |title=Bill Price III |url=https://threestickswines.com/people/bil-price/ |website=ThreeSticksWines.com |date=October 3, 2013 |access-date=May 25, 2024}} He is married and has three children.
In the summer of 2020, Price contributed to the political campaign of Arizona Senator Kyrsten Sinema, who had promised to oppose any tax increases on either corporate or personal rates, by giving Sinema a week-long paid internship at his Sonoma, California winery, and by hosting a fundraiser at the winery that benefitted her campaign committee and a leadership PAC for fellow congressional moderates.{{cite news |last1=Boguslaw |first1=Daniel |last2=Grim |first2=Ryan |title=Kyrsten Sinema Used the Winery Where She Interned to Fundraise With Private Equity |url=https://theintercept.com/2021/09/26/kyrsten-sinema-private-equity-tax-loophole/ |access-date=October 19, 2021 |work=The Intercept |date=September 26, 2021}}{{cite web |last1=Bunch |first1=Will |title=The trainwreck of Sen. Kyrsten Sinema is the cost of not getting money out of politics |url=https://www.inquirer.com/columnists/attytood/kyrsten-sinema-blocks-biden-agenda-money-politics-20210930.html |work=The Philadelphia Inquirer |date=September 30, 2021 |access-date=October 19, 2021}}
References
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Category:Year of birth missing (living people)
Category:20th-century American businesspeople
Category:21st-century American businesspeople
Category:American chief executives of financial services companies
Category:American financial company founders
Category:American people in the wine industry