Denis O'Brien
Chairman at Ernst & Young LLP (Missouri)
Profile
Denis O'Brien (born 19 April 1958) is an Irish billionaire. Born in County Cork, he graduated with an Arts degree from University College Dublin, received an MBA in corporate finance from Boston College in 1982, and was later given an honorary doctorate by University College Dublin.
O'Brien set up and chaired the Esat Digifone consortium which won a mobile phone licence in the 1990s in what would become controversial circumstances despite claims to this day that theirs was the best bid. The Moriarty Tribunal found that in its opinion it was almost beyond doubt that his winning of the contract was due to payments he made to Michael Lowry, the then communications minister, who unduly influenced the bidding process.
It was the winning of this contract that formed the basis of his fortune. He established Digicel, a major telecoms provider in the Caribbean. O'Brien formed Communicorp Group Ltd in 1989, with the company currently owning 42 radio stations in 8 European countries, including Ireland's Newstalk, Today FM, Dublin's 98 (formerly 98FM), Spin 1038 and Spin South West.
In addition, O'Brien has founded the international commercial aircraft company Aergo Capital Limited - registered in Dublin, with offices in Nairobi, Singapore, Santiago and Johannesburg. He is a leading shareholder in both Sterling Energy and in Sir Anthony O'Reilly's Independent News & Media (IN&M). After the sale of Esat, he moved to Portugal where he owns the Quinta di Lago golf complex and is now a resident of Malta.Esat Digifone defeat of others
In 1995, O'Brien set up and chaired the Esat Digifone consortium which submitted a bid for the second Irish GSM mobile phone license. Esat Digifone's bid defeated five other applicants, some of whom included major international operators, in controversial circumstances which became the subject of investigation by the Moriarty Tribunal. The Esat Digifone consortium was 40% owned by O'Brien's interests, 40% owned by Telenor, the Norwegian state telecoms operator, with the balance being owned by International Investment and Underwriting (IIU), an investment vehicle owned by Dermot Desmond.
On 7 November 1997, Esat Telecom Group plc held an initial public offering and was listed on the Irish Stock Exchange, London Stock Exchange, and NASDAQ Stock Markets. There were differences between O’Brien and Telenor, however, ESAT Digifone boomed. Telenor made a bid for control of the company but O’Brien chose to sell to BT in 2000. Esat became a wholly owned subsidiary of BT and was delisted from the stock market. O'Brien personally netted €317 million from the sale.
After exiting the Irish mobile phone market, O'Brien started to compete for mobile phone licenses in the Caribbean through his company Digicel. Digicel now has in excess of eleven million mobile phone subscribers in the Caribbean, Central America and Pacific.
As the owner of Haiti's largest telecom company, Digicel, O'Brien pledged an immediate €3.5 million of his money to assist desperate Haitians within hours of the 2010 Haiti earthquake. Two of Digicel's 900 staff members in Haiti died in the earthquake. Digicel is Haiti's largest single investor. He was appointed goodwill ambassador for Port-au-Prince by the city's mayor and deputy mayor in recognition of his efforts to rebuild Haiti and attract foreign direct investment in the aftermath of the devastating earthquake on January 12, and on behalf of the Clinton Global Initiative. He is Chairman of the Haiti Action Network, which coordinates the activities of approximately 80 support organisations in Haiti. Most recently, Denis O'Brien reconstructed the iconic Iron Market in Haiti's capital Port-au-Prince, which was the first public building in the city to be rebuilt since the earthquake and has become a symbol of the city's recovery.
Involvement in the Moriarty Tribunal
The Moriarty Tribunal's second and final report found that Michael Lowry, the then energy and communications minister in Ireland, assisted Denis O'Brien in his bid to secure a mobile phone contract for Esat Digifone, a key foundation of Mr O'Brien's personal wealth. The tribunal found that this happened after Lowry received a $50,000 payment from O'Brien via a circuitous route involving a complex arrangement of third parties and offshore accounts. It said that it was “beyond doubt” that Mr Lowry gave “substantive information to Denis O'Brien, of significant value and assistance to him in securing the [mobile] licence” during at least two meetings between the two.
Denis O'Brien has rejected the findings set out in the Moriarty Tribunal report calling it 'fundamentally flawed' as it is based on the opinions and theories of Mr Justice Moriarty and his legal team. Mr O’Brien said Mr Justice Moriarty had admitted to making “two not insignificant errors” and that these had been used to substantiate false theories. “I believe it is unprecedented in the history of this country that a High Court judge would make such fundamental errors which went to the heart of the credibility and integrity of a tribunal process,” Mr O’Brien said it was “incumbent on the judiciary to investigate the conduct of Mr Justice Moriarty and the tribunal legal team for the manner in which they conducted themselves”.
On 15 October 2011, Today FM confirmed Sam Smyth's Sunday radio show was being dropped. He had been presenting it for 14 years. Smyth had previously offended his bosses by commenting in a newspaper and on television about Today FM owner's Denis O'Brien's involvement in the Moriarty Tribunal. Smyth said on air the next morning that he had been told not to talk about the end of his show and stopped one of his guests from talking about it too 'before someone comes downstairs and pulls a wire we better move onto something else.' The National Union of Journalists (NUJ) said it was concerned at the development, but Today FM stated that 'the decision was made to address a decline in listenership and was part of an initiative to improve programming quality.' The Today FM board supported the decision, which was one of several programming changes made by Willy O’Reilly The Irish Independent, of which Denis O'Brien is a leading shareholder, reported that Anton Savage was being lined up to replace Sam Smyth.
Relationship with the media
Communicorp Group
main|Communicorp
Communicorp Group Ltd was formed by O'Brien in 1989. The Group's radio operations launched in Ireland in the same year and followed with stations in the Czech Republic in 1992. Based in Dublin, Ireland, Communicorp is a major player in the Irish media market.Citation needed|date=June 2011
The company now owns 42 radio stations in 8 countries across Europe, including Ireland: Today FM, Dublin's 98 (Formerly 98FM), Newstalk, Spin 1038 and Spin South West.Citation needed|date=June 2011
O'Brien was the highest bidder for the Irish operations of Emap, which added Today FM, FM104 and Highland Radio to their control, but due to a competition authority decision, Communicorp was required to sell-on FM104 and Highland Radio.Citation needed|date=February 2010
Independent News & Media
main|Independent News & Media
In January 2006, O'Brien took a stake in Tony O'Reilly's Independent News & Media (IN&M). As of May 2012, he holds a 29.9% stake in the company, making him the largest shareholder. This compares to O'Reilly's family stake of around 13%. At the beginning of June 2007, O'Reilly tabled a resolution to strengthen rules on the disclosure of beneficial interests.Citation needed|date=March 2008 This was regarded as a defensive measure that would empower IN&M to monitor any additional accumulation of shares in the company. The resolution passed and empowers IN&M to withhold dividends from investors who do not comply with a request for information on the ownership of a holding of shares.Citation needed|date=March 2008
O'Brien, speaking on RTÉ Radio, described the resolution as a 'retrograde' measure, saying that the resolution was designed to protect the interests of O'Reilly's family against a hostile bidder.
Media Lawsuits
Vincent Browne wrote a piece to The Irish Times on why O'Brien 'is not a fit person to control INM' (Independent News & Media). In it he questioned O'Brien's previous threats to personally sue Sam Smyth and asked :
'[H]ow plausible is it that the removal of Sam Smyth from a Sunday morning radio programme on Today FM, which Denis O'Brien controls, and his ostracisation now within the Irish Independent to which he is contracted (not one article by him has been published for some months), isn't part of the same campaign which Denis O'Brien and [one of his then representatives on the board of INM] Leslie Buckley, conducted against Sam Smyth in 2010?'
On 14 February 2013, O’Brien was successful in suing the Irish Daily Mail for defamatory comments and was awarded E€150,000. The case was a landmark as it was the first time a journalist had attempted to use the honest opinion defence.
Aircraft leasing
In 1999, Denis O'Brien founded Aergo Capital Limited - registered in Dublin, with offices in Nairobi, Singapore, Santiago and Johannesburg. It owns and operates a fleet of 103 commercial aircraft. The company is valued at $250 Million USD and has debts in the region of $166 Million USD.Citation needed|date=February 2010 O'Brien controls about 83% of Aergo and, along with his father, sits on the company's 6 strong board. Aergo Capital's clients include Alitalia, Jet Airways, South African Airways, KLM and DHL. In July 2008, Aergo acquired the Safair aircraft-leasing division of Imperial Holdings for €110 Million. Aergo will take over the division's 33 planes and will lease a further nine aircraft from the parent company.Citation needed|date=February 2010
Sterling Energy
Denis O'Brien is a shareholder in AIM-listed Sterling Energy. The company has production in the United States and a wide portfolio of exploration interests, mostly in West Africa.Citation needed|date=June 2011
Other interests
O'Brien was Chairman of the 2003 Special Olympics World Summer Games on the occasion when the games were held in Ireland, and on the U.S. Board of Concern Worldwide.
In September 2005, O'Brien was named Deputy Governor of the Bank of Ireland. Simultaneously, he moved his residence from Portugal to Malta, for tax avoidance reasons. He resigned from the position of Deputy Governor Bank of Ireland, and also as a member of the Bank's board or court, on 12 September 2006. The Bank of Ireland issued a statement describing his resignation as due to 'his growing international business interests together with the demands of an extensive travel schedule, meant that he could no longer devote the time required to the ever increasing workload of the court.' O'Brien has also resigned from the Norkom Group and the UCD Smurfit School of Business. His spokesman said that the resignations were unconnected with the work of the Moriarty Tribunal.Citation needed|date=March 2008
O'Brien is a member of the Bilderberg group
On 13 February 2008, the chief executive of the Football Association of Ireland, John Delaney, confirmed that O'Brien had agreed to part fund the wages of the Irish football manager Giovanni Trapattoni.
O'Brien's football interests also extend to being a minority shareholder in Scottish giants Celtic.
In 2011, he provided money for the campaign of Mary Davis ahead of the Irish presidential election.
Personal wealth
According to the Sunday Independent's Rich List 2012 (March 2012), O'Brien has made himself a fortune of €3.0 billion.
Move to Malta
O'Brien had considered the flotation of Digicel on the New York Stock Exchange and he has taken up residence in Malta. Malta charges no tax on worldwide assets or income brought in by permanent residents. Residence, for tax purposes, means renting or buying a property with a minimum value and visiting Malta at least once within one year of becoming a resident.Citation needed|date=June 2011
Source @ Wikipedia
Latest news about Denis O'Brien
Denis O'Brien active positions
Companies | Position | Start |
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Ernst & Young LLP (Missouri)
Ernst & Young LLP (Missouri) Miscellaneous Commercial ServicesCommercial Services Ernst & Young provides accounting services. Its services include auditing, accounting, tax and transaction services, assurance and advisory business, online transaction advisory and a wide range of financial services. The company was founded by Arthur Young and Alwin C. Ernst in 1881 and is headquartered in Kansas City, MO. | Chairman | - |
Greater Philadelphia Chamber of Commerce
Greater Philadelphia Chamber of Commerce Miscellaneous Commercial ServicesCommercial Services The Greater Philadelphia Chamber of Commerce is a business organization focused on promoting the creative economy. The non-profit company is based in Philadelphia, PA and has subsidiaries in the United States. The company's website provides information about their investors and serves as a home base for their activities. The CEO of the company is Robert C. Wonderling. | Director/Board Member | - |
Drexel University | Director/Board Member | 2009-11-05 |
Select Greater Philadelphia | Corporate Officer/Principal | - |
The Ceo Council For Growth | Director/Board Member | - |
Independence Health Group, Inc.
Independence Health Group, Inc. Managed Health CareHealth Services Independence Health Group, Inc. provides health insurance services. Its services include commercial, medicare and Medicaid medical coverage, third-party benefits administration, pharmacy benefits management, and workers? compensation. The company was founded on June 18, 2014 and is headquartered in Philadelphia, PA. | Director/Board Member | - |
Former positions of Denis O'Brien
Companies | Position | End |
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EXELON CORPORATION | Corporate Officer/Principal | 2018-05-31 |
PEPCO HOLDINGS, INC. | Director/Board Member | - |
DELMARVA POWER & LIGHT COMPANY | Chairman | - |
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Training of Denis O'Brien
Drexel University | Graduate Degree |
Rutgers State University of New Jersey | Undergraduate Degree |
Experiences
Positions held
Connections
1st degree connections
1st degree companies
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Female
Members of the board
Executives
Linked companies
Listed companies | 1 |
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EXELON CORPORATION | Utilities |
Private companies | 19 |
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Commonwealth Edison Co.
Commonwealth Edison Co. Electric UtilitiesUtilities Commonwealth Edison Co. engages in the provision of electric utility services. It focuses on the purchase and regulated retail sale of electricity. It also involves in the transmission and distribution of electricity to retail customers. The company was founded in September 1907 and is headquartered in Chicago, IL. | Utilities |
PECO Energy Co.
PECO Energy Co. Electric UtilitiesUtilities PECO Energy Co. engages in the provision of utility services. It operates through the following segments: Pepco, DPL, and ACE. The Pepco segment consists of purchase and regulated retail sale of electricity and the provision of electricity distribution and transmission in the in the District of Columbia and major portions of Prince George's County and Montgomery County in Maryland. The DPL segment comprises purchase and regulated retail sale of electricity and the provision of electricity distribution and transmission services n portions of Maryland and Delaware. The Ace segment focuses in the purchase and regulated retail sale of electricity and the provision of electricity transmission and distribution services in southern New Jersey. The company was founded in 1881 and is headquartered in Philadelphia, PA. | Utilities |
KP Pharmaceuticals LLC
KP Pharmaceuticals LLC Pharmaceuticals: MajorHealth Technology KP Pharmaceuticals LLC is a pharmaceuticals company which develops, manufactures, markets and sells branded prescription pharmaceutical products. The company was founded by John M. Gregory, Randal J. Kirk, Joseph R. Gregory, Jefferson J. Gregory and James E. Gregory in 1993 and is is headquartered in Bristol, TN. | Health Technology |
Delmarva Power & Light Co.
Delmarva Power & Light Co. Electric UtilitiesUtilities Delmarva Power & Light Co. engages in the transmission, distribution and supply of electricity. It supplies electricity in portions of Delaware and Maryland. The firm also supplies and delivers natural gas to retail customers and provides transportation-only services to retail customers that purchase natural gas from another supplier. The company was founded in 1909 and is headquartered in Newark, DE. | Utilities |
Baltimore Gas & Electric Co.
Baltimore Gas & Electric Co. Electric UtilitiesUtilities Baltimore Gas & Electric Co. engages in the provision of gas and electricity to Baltimore and central Maryland. The firm offers transmission and distribution services to retail, residential, commercial, and industrial customers. Its electric distribution system includes circuit miles of overhead lines and circuit miles of underground lines. The company was founded on June 17, 1816 and is headquartered in Baltimore, MD. | Utilities |
Pepco Holdings LLC
Pepco Holdings LLC Electric UtilitiesUtilities Pepco Holdings LLC operates as a holding company, which engages in the provision of utilities services such as electricity and natural gas distribution through its subsidiaries. Its segments include Pepco, DPL, and ACE. The company was founded in 2000 and is headquartered in Washington, DC. | Utilities |
Independence Health Group, Inc.
Independence Health Group, Inc. Managed Health CareHealth Services Independence Health Group, Inc. provides health insurance services. Its services include commercial, medicare and Medicaid medical coverage, third-party benefits administration, pharmacy benefits management, and workers? compensation. The company was founded on June 18, 2014 and is headquartered in Philadelphia, PA. | Health Services |
Greater Philadelphia Chamber of Commerce
Greater Philadelphia Chamber of Commerce Miscellaneous Commercial ServicesCommercial Services The Greater Philadelphia Chamber of Commerce is a business organization focused on promoting the creative economy. The non-profit company is based in Philadelphia, PA and has subsidiaries in the United States. The company's website provides information about their investors and serves as a home base for their activities. The CEO of the company is Robert C. Wonderling. | Commercial Services |
Ernst & Young LLP (Missouri)
Ernst & Young LLP (Missouri) Miscellaneous Commercial ServicesCommercial Services Ernst & Young provides accounting services. Its services include auditing, accounting, tax and transaction services, assurance and advisory business, online transaction advisory and a wide range of financial services. The company was founded by Arthur Young and Alwin C. Ernst in 1881 and is headquartered in Kansas City, MO. | Commercial Services |
Electric Power Research Institute, Inc.
Electric Power Research Institute, Inc. Miscellaneous Commercial ServicesCommercial Services Electric Power Research Institute, Inc. provides energy and environmental research services. It conducts research and development relating to the generation, delivery and use of electricity for the benefit of the public. The firm also provides technology, policy and economic analyses to drive long-range research and development planning and supports research in emerging technologies. The company was founded in 1972 and is headquartered in Palo Alto, CA. | Commercial Services |
WHYY, Inc.
WHYY, Inc. BroadcastingConsumer Services WHYY, Inc. operates public broadcasting stations. It serves in southeastern Pennsylvania, Delaware, and South Jersey. The company was founded on December 14, 1954 and is located in Philadelphia, PA. | Consumer Services |
American Gas Association
American Gas Association Miscellaneous Commercial ServicesCommercial Services The American Gas Association represents over 200 energy companies that provide natural gas service to 180 million Americans. The private company is based in Washington. The American company's natural gas utilities are committed to reducing greenhouse gas emissions through new and modernized infrastructure and advanced technologies that maintain reliable, resilient, and affordable energy service choices for consumers. The company advocates on behalf of its member natural gas distribution utilities before Federal agencies in the area of energy market regulation. | Commercial Services |
Pennsylvania Economy League, Inc. | |
Energy Association of Pennsylvania | |
Pennsylvania Business Council
Pennsylvania Business Council Publishing: NewspapersConsumer Services Pennsylvania Business Council provides publishing newsletters. The firm specializes in public policy, elections and grassroots advocacy. The company was founded in 1979 and is headquartered in Harrisburg, PA. | Consumer Services |
The Franklin Institute
The Franklin Institute Other Consumer ServicesConsumer Services The Franklin Institute is a non-profit organization that provides science and technology learning services. The company was founded by Samuel Vaughan Merrick and William H. Keating in Feb 5, 1984 and is headquartered in Philadelphia, PA. | Consumer Services |
Select Greater Philadelphia | |
The Ceo Council For Growth | |
Greater Philadelphia Young Men's Christian Association
Greater Philadelphia Young Men's Christian Association Miscellaneous Commercial ServicesCommercial Services Greater Philadelphia Young Men's Christian Association operates as non-profit youth organization for children and teens. It offers swim lessons, youth sports, gymnastics, karate, fitness, child care and day camps. The company was founded by Mary C. Carroll and is headquartered in Conshohocken, PA. | Commercial Services |
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