Darla Moore

Darla Moore
Born Darla Dee Moore
(1954-08-01) August 1, 1954
Lake City, South Carolina
Alma mater University of South Carolina
George Washington University
Occupation Financier, Philanthropist

Darla Dee Moore (born August 1, 1954) is a partner of the private investment firm Rainwater, Inc, and was married to Richard Rainwater, who founded the firm.

Life and career

Early life

Moore was born in Lake City, South Carolina, to Eugene and Loraine Moore. She was one of two daughters and was born on a farm that produced cotton, soybean, and tobacco.[1] In 1972, Moore completed her high school education from Lake City High school. She then continued to pursue her goals by achieving higher education.[2] She graduated at the University of South Carolina in 1975 with a BA in political science. After school, she worked for the Republican National Committee in Washington, D.C.

Beginning of career

In 1981, Moore received an MBA from George Washington University, three years after graduating from the University of South Carolina, and joined other MBAs at the Chemical Bank’s training program.[3] During the 1980s, Moore made a name for herself while providing debtor-in-possession financing for companies going through the bankruptcy process. In fact, she specialized in “bankruptcy takeovers” for the company. In 1996 after running the company that he founded into deep financial trouble, T. Boone Pickens was removed by Moore as the head of Mesa Inc, which mainly dealt with the production of oil and natural gasses. Once in control, she then proceeded to make a profit off the company after investing a total of 66 million dollars.[3] Moore was recognized in several media outlets including Forbes Fortune, Working Woman, Worth, Wall Street Journal, and CNN.[2] Her cover on Fortune magazine called her “The Toughest Babe in Business”.[4]

Marriage and later career

It was on a business trip to Texas that Moore met Richard Rainwater.[2] In 1991, they were married in New York City on Park Avenue’s Brick Presbyterian Church.[2] She was named president of Rainwater, Inc, in 1993. Before Moore was named president of the company, she served as vice president during the early stages of her marriage to Rainwater.[5] Although already extremely wealthy and well established at the time of the marriage, Rainwater’s net worth was practically tripled due to his marriage to Moore, who at the time was already making more money than most other investors in the industry.[4][6] Moore's net worth was estimated at $2.3 billion in 2012.[7] Fortune Magazine named Moore one of the 50 Most Powerful Women In Business in 1998[8] and 1999. Moore is credited with dismissing future Florida Governor Rick Scott from Columbia/HCA when a medicare related scandal broke.[9] Scott and Mr. Rainwater were partners in the Texas Rangers baseball team with Texas Governor George W. Bush. Additionally in 1998, Moore was presented with the Order of the Palmetto.[2] A 1997 article in CNN Money by Patricia Sellers states: “To get a picture of Darla Moore, imagine, say, a cross between the Terminator and Kim Basinger, with a wicked South Carolina drawl. Upon first meeting, she can come across as a prima donna, tough and aloof. As she warms up she can turn fun and flirty, even girlish, though the shift is deceptive.” [6]

Moore spends most her time in Lake City in a house built on a plantation that has been in the Moore family for six generations. The couple also owns homes in New York City, Folsom, California and Charleston, South Carolina.

From 2001 forward Moore and Rainwater lived separately, she in South Carolina, he in Texas and California. In March 2011, a court declared him incapacitated as a result of his battle with progressive supranuclear palsy (PSP), and his youngest child, Matthew, became his legal guardian. As his illness progressed, Mr. Rainwater's primary caregiver was his brother Walter until around the clock nursing care became necessary.[10] This was due to the fact that because of his disease, Rainwater began to require 24-hour care.[4][11] Rainwater died September 27, 2015.

In 2003, Moore gave ten million dollars to Clemson University’s school of education. In return, the school of education at the university was renamed for Moore’s father, who was both a teacher and principal himself.[11] Moore’s father was also a graduate of Clemson University, further influencing her choice to donate to the school.[5] In 2007, Moore received the honor of being inducted into the South Carolina Business Hall of Fame.[2]

In 2011, Gov. Nikki Haley removed Moore from the University of South Carolina board. Moore was replaced with Tommy Cofield.[12] [13] In response, Moore stated, “I don't need a title or position to speak out. I just need a voice, my vision and a forum to be heard…”.[14] During this time, she convinced Governor Haley and the South Carolina state legislature to match her donation of five million dollars to a new aerospace center at the University of South Carolina, which was named in honor of Dr. Ronald McNair, who died aboard the Space Shuttle Challenger mission of 1986 and was originally from the city of Lake City, South Carolina.[14]

In 2012, Moore and former Secretary of State Condoleezza Rice became the first two female members of Augusta National Golf Club.[15][16] Prior to her invitation, Moore was known to have a friendship with one of the former chairmen of Augusta, Hootie Johnson. It was her husband, Rainwater, who originally introduced Moore to the game of golf, after they first met in the early 1990s. Moore has described her excitement to join the club in a statement to The New York Times, stating “I am honored to have accepted an invitation to join Augusta National Golf Club...Augusta National has always captured my imagination, and is one of the most magically beautiful places in the world, as everyone gets to see during the Masters each April. I am fortunate to have many friends who are members at Augusta National, so to be asked to join them as a member represents a very happy and important occasion in my life. Above all, Augusta National and the Masters tournament have always stood for excellence, and that is what is so important to me. I am extremely grateful for this privilege”.[11]

Moore's hobbies include being a collector, mostly looking for 18th-century French furniture and rare books. In addition, Moore enjoyed riding with her husband in his 1957 Chevy, the fastest streetcar, before his illness began.[9]

Philanthropy

Moore has given many gifts to institutions that benefit the public. Most notable are her donations to her alma mater, the University of South Carolina, which combined constitute nearly a record breaking amount for a private donation to a business school.[4] Some of her gifts include:

References

  1. ↑ "Darla Moore : Biography" (PDF). Hehd.clemson.edu. Retrieved 2015-08-25.
  2. 1 2 3 4 5 6 "Darla Moore". Knowitall.org. Retrieved 2015-08-25.
  3. 1 2 Pilon, Mary (2012-08-20). "In World of Finance, One New Member Has Already Driven the Green". The New York Times. Retrieved 2015-08-25.
  4. 1 2 3 4 Levs, Josh (2012-08-21). "Augusta National admits one of 'toughest' women in business". CNN.com. Retrieved 2015-08-25.
  5. 1 2 "Who Is Darla Moore? Meet one of Augusta's First Female Members | TIME.com". Newsfeed.time.com. 2012-08-20. Retrieved 2015-08-25.
  6. 1 2 Sellers, Patricia (1997-09-08). "DON'T MESS WITH DARLA SHE'S NOT JUST MRS. RICHARD RAINWATER: OUTRAGEOUS AND UNSTOPPABLE, SHE'S WON LOVE, MONEY-AND THE UPPER HAND AT COLUMBIA/HCA. - September 8, 1997". Money.cnn.com. Retrieved 2015-08-25.
  7. ↑ "Augusta Update: Who Is Darla Moore? - At Work - WSJ". Blogs.wsj.com. 2012-08-20. Retrieved 2015-08-25.
  8. ↑ Creswell, Julie (1998-10-12). "Ranking The 50 Most Powerful Women FORTUNE'S FIRST ANNUAL LOOK AT THE WOMEN WHO MOST INFLUENCE CORPORATE AMERICA. - October 12, 1998". Money.cnn.com. Retrieved 2015-08-25.
  9. 1 2 Sellers, Patricia (1997-09-08). "DON'T MESS WITH DARLA SHE'S NOT JUST MRS. RICHARD RAINWATER: OUTRAGEOUS AND UNSTOPPABLE, SHE'S WON LOVE, MONEY-AND THE UPPER HAND AT COLUMBIA/HCA. - September 8, 1997". Money.cnn.com. Retrieved 2015-08-25.
  10. ↑ "The fight of Richard Rainwater's life - Fortune". Management.fortune.cnn.com. 2011-11-07. Retrieved 2015-08-25.
  11. 1 2 3 Pilon, Mary (2012-08-20). "In World of Finance, One New Member Has Already Driven the Green". The New York Times. Retrieved 2015-08-25.
  12. ↑ "Haley donor replaces Darla Moore on USC Board of Trustees - wistv.com - Columbia, South Carolina". wistv.com. Retrieved 2015-08-25.
  13. ↑ Archived July 16, 2011, at the Wayback Machine.
  14. 1 2 http://www.huffingtonpost.com/2011/03/24/darla-moore-ousted-univer_n_840288.htm. Retrieved February 19, 2014. Missing or empty |title= (help)
  15. ↑ Rovell, Darren (August 20, 2012). "Augusta adds first woman members". ESPN.
  16. ↑ "Augusta National admits two women, including Condoleezza Rice –". Usatoday.com. 2012-08-20. Retrieved 2015-08-25.
  17. ↑ Wayne, Leslie (1998-03-18). "Be It Wharton or Darla Moore, Not for Nothing Is a B-School So Named". NYTimes.com. Retrieved 2015-08-25.
  18. 1 2 "Darla Moore School of Business" (PDF). Mooreschool.sc.edu. Retrieved 2015-08-25.
  19. ↑ "Welcome from Darla Moore and Richard Rainwater | Clemson University, South Carolina". Clemson.edu. Retrieved 2015-08-25.
  20. ↑ "Darla Moore donates record $45 million to School of Business - wistv.com - Columbia, South Carolina". wistv.com. 2004-04-23. Retrieved 2015-08-25.
  21. ↑ Archived March 25, 2011, at the Wayback Machine.
  22. ↑ "University of South Carolina - News". Sc.edu. 1986-01-28. Retrieved 2015-08-25.
  23. ↑ "Darla Moore Gives $1 Million to Claflin Music Dept". Wltx.com. 2012-12-04. Retrieved 2015-08-25.
  24. ↑ "Philanthropist Darla Moore Endows $ 1 Million for Claflin University Department of Music". Claflin.edu. 2012-12-04. Retrieved 2015-08-25.
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