Jonathan Milton Nelson (born 1956) is an American billionaire businessman. He is the founder of Providence Equity Partners, a global private equity firm based in Providence, Rhode Island, which manages funds with over US$45 billion in commitments.[1][2] As of September 2023, Nelson's net worth is estimated by Forbes at $3.4 billion.[3]
Jonathan Nelson | |
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| Born | Jonathan Milton Nelson 1956 (age 67–68) Providence, Rhode Island, U.S. |
| Education | Brown University Harvard Business School |
| Occupation | Founder of Providence Equity Partners |
Early life and education
Nelson grew up in Providence. He graduated from Brown University in 1977 with a Bachelor of Arts in economics. After graduation, he managed the Chinese division of Wellman, Inc.[4] On returning to the United States, he earned a Master of Business Administration from Harvard Business School in 1983.[5]
Career history
In 1983, Nelson joined Narragansett Capital, a private equity firm, where he was a managing director. At Narragansett, he specialized in the broadcasting, cable television and publishing sectors.[6]
In 1989, he founded Providence Equity Partners, a pioneering sector-focused private equity firm. It is the world's leading private equity investment firm focused on media, communications, education, and information investments.[7] He was dubbed the "stealth mogul" by The New York Times for keeping a low profile despite his firm's substantial media holdings.[8]
In 2008, Nelson and other Providence principals launched Providence's credit investment arm with Thomas Gahan of Deutsche Bank.[9] The unit is called Benefit Street Partners, which has US$9.16 billion (inflation-adjusted) under management.[10]
Nelson is on the boards of the Chernin Group, MLS Media, the Institute for Advanced Study in Princeton, New Jersey, Television Broadcasts Ltd and Univision Communications. he has also been a director of Eircom Plc, Hulu, Language Line, MetroNet (now AT&T Canada), VoiceStream Wireless (now Deutsche Telekom), Warner Music Group, (now Alltel Wireless) and Yankees Entertainment & Sports Network.[11]
Philanthropy and other activities
Educational philanthropy
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As of March 2019, Nelson is listed as a Fellow of Brown University, and has previously been a trustee.[12] He has donated at least $36 million to the university, contributing to the construction of the Nelson Fitness Center[13] and establishment of the Nelson Center for Entrepreneurship and endowment of two professorships.[14][15] In 2013, The Institute of Classical Architecture and Art named Nelson the winner of the Arthur Ross Award for Excellence In The Classical Tradition (Patronage) for his guidance of the design and construction of the Nelson Fitness Center.[16] In 2018, Following a $25 million gift from Nelson, Brown established the Nelson Center for Entrepreneurship.[15] Nelson is a trustee of Rockefeller University.[17] In August 2014, Harvard Business School gave Nelson an Alumni Achievement Award, the highest honor bestowed by the school on its graduates.[18]
Nelson has committed to the Giving Pledge, a campaign led by Warren Buffett and Bill Gates to encourage the wealthiest people in the United States to make a commitment to give most of their wealth to philanthropic causes.[19] He is on the board of the Newport Festivals Foundation. He is an avid sailor and big mountain skier.[3]