Jack Grubman Wiki
Jack Benjamin Grubman was an American former managing director of Salomon Smith Barney and the lead research analyst for the telecommunications sector.
Jack Grubman Biography
He holds a bachelor’s degree in mathematics (cum laude), from Boston University and a master’s degree in probability theory from Columbia.
In 1977, he started work at AT&Tand In 1985 moved to PaineWebber. By 1994 he was making a million dollars a year and moved to Salomon Brothers. During this period, Grubman was the most important analyst of the telecommunications industry during a time of great upward activity in the sector.
In 1998 when Salomon Brothers became Salomon Smith Barney, he was the managing director and became Head of Global Telecommunications Research. As a result, Grubman became the highest paid analyst on Wall Street; earning $25 million per year from 1998 through 2002.
The sector reached a peak by 2001, however Grubman still made public statements calling for investors to buy. In March 2001, he listed ten stocks in the sector to buy of which five were selling for less than a dollar per share a year later. It was his activities during these years that led him into legal problems.
The commission found that from 1999 to 2001, Grubman had issued research reports and other documents that concealed material facts and which misled investors.
In 1999, Grubman upgraded his opinion of AT&T stock , In a 2001 e-mail, Grubman explained the change was part of a plan to get his twin daughters and son into the 92nd Street YM-YWHA’s preschool program.
Grubman was advising both telecoms firms such as Global Crossing and investors at the same time. This was an obvious conflict of interest. In April, 2003, the Security and Exchange Commission banned Grubman from financial industry for life for misconduct. Grubman was also required to pay a $15 million fine. According to an article in Forbes, Grubman had a net worth of about 75 to 100 million dollars after paying the fine.
In 2004, he was hired by Distinctive Devices as a consultant, a move that increased the stock price of the firm.
In 2003, he formed Magee Group, LLC. A consulting firm that specializes in advising and/or strategic consulting in both telecommunications and technology companies. Especially focusing on those companies developing enabling applications/technologies in the IP, wireless, broadband and next generation network areas.
As of August 2011, he was a managing partner at the Magee Group.
Jack Grubman Age
Jack Grubman was born in 1954.
Jack Grubman Family
He was born in Northeast Philadelphia, Pennsylvania, to Isador and Mildred Grubman. His father worked for the City of Philadelphia Sanitation Department, while his mother worked at a home as dressmaker.
Jack Grubman Wife
He is married to LuAnn.
Jack Grubman Children
The couple are blessed with twin daughters.
Jack Grubman Height
Information will be updated soon.
Jack Grubman Salary
Jack’s salary is estimated to be between $10k to $50k per year.
Jack Grubman Net worth
He has an estimated net worth of about 75 to 100 million dollars
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Jack Grubman News
Former Salomon Smith Barney Exec Lists Hamptons Estate
Jack Grubman’s East Hampton home has a $16.9 million asking price
ORIGINALLY PUBLISHED ON OCTOBER 10, 2017
It also has a three-car garage, a 50-foot heated swimming pool, and a full-size tennis courtJack Grubman, the former managing director of investment bank Salomon Smith Barney and a telecommunications research analyst, has listed his East Hampton estateThe property has an asking price of $19.6 million
Spanning 6,600 square feet, the house has six-and-a-half bathrooms, a vaulted living room and a paneled libraryMr. Grubman paid $7 million for the home in 2000The main house underwent a complete renovation in 2002, which involved adding bedrooms, as well as building a 1,500-square-foot, triple-height guest house
Jack Grubman, the former managing director of investment bank Salomon Smith Barney and a telecommunications research analyst, has listed his East Hampton estate
Jack Grubman, the former managing director of investment bank Salomon Smith Barney, listed his East Hampton estate last week for $16.9 million.
Mr. Grubman paid $7 million for the home in 2000, according to public records with PropertyShark. He used an LLC linked to his company, the Magee Group.
More: $19.9 Million ‘Yachter’s Paradise’ is Fort Lauderdale’s Priciest Sale of the Year
Built in 1906 and set on three acres, the six-bedroom main house underwent a complete renovation in 2002, which involved adding bedrooms, as well as building a 1,500-square-foot, triple-height guest house.
The owners “created a park-like property,” said Beate Moore of Sotheby’s International Realty. Ms. Moore shares the listing with colleague Frank Newbold, along with Compass’s Ed and James Petrie.
Spanning 6,600 square feet, the house has six-and-a-half bathrooms, a vaulted living room with 13-foot-high ceilings, an eat-in chef’s kitchen, a paneled library and an oversized master suite with a fireplace and a sundeck, according to the listing.
It also has a three-car garage, a 50-foot heated swimming pool, and a full-size tennis court.
More: Park Avenue Penthouse, Once Home to Yugoslavia’s Ambassador, Hits Market for First Time in 40 Years
This is the first time the house has been on the market since Mr. Grubman purchased it 17 years ago.
Mr. Grubman, who could not be reached for comment, formed the Magee Group in 2003, and serves as the consulting firm’s managing partner. In 2003, after advising both telecom firms and investors at the same time, the Security and Exchange Commission banned Mr. Grubman from the financial industry for life for misconduct. He was required to pay a $15 million fine.
Between 1999 to 2001, Mr. Grubman was reportedly the highest-paid analyst on Wall Street, earning upwards of $25 million a year.