Craig McCaw: A Life of Telecommunications and Distinction
Craig McCaw is an American entrepreneur who made his fortune in the telecommunications industry. He is most well-known for founding McCaw Cellular Communications, which he eventually sold to AT&T for $11.5 billion in 1994. McCaw’s influence in the wireless industry has led to him being referred to as the “father of wireless communications.”
Early Life and Education
Craig McCaw was born on August 11, 1949 in Centralia, Washington, to parents Marion and John Elroy McCaw. He grew up with five siblings and was raised in a family that was already involved in the radio industry, as his father owned a radio station. McCaw attended Stanford University but dropped out before graduating to start his own business.
Career and Achievements
McCaw began his business career by starting a cable television company, which he later sold to his brother for $30,000. In 1983, he established McCaw Cellular Communications, which became one of the largest cellular phone providers in the nation. McCaw led the way in developing cellular networks and creating innovative marketing strategies for his company.
In 1990, McCaw sold a 30 percent stake in his company to Southwestern Bell for $2 billion. He then sold the rest of McCaw Cellular Communications to AT&T for $11.5 billion in 1994, which was the largest corporate merger in history at the time. McCaw went on to start a satellite communications company called Teledesic, which went bankrupt in 2002.
Despite the failure of Teledesic, McCaw continued to invest in technology, including wireless broadband and other ventures. In 2011, he sold a majority stake in Clearwire, a wireless broadband company, to Sprint for $2.2 billion.
McCaw has been married twice and has six children. He is a philanthropist and has donated large sums of money to various charities and educational institutions. In addition, he is an avid pilot and has set several world records for long-distance flights.
|Born||August 11, 1949|
|Companies||McCaw Cellular Communications, Teledesic, Clearwire|
|Net Worth||$1.8 billion|