At a Glance: the business dealings of Jeb Bush

AP News
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Posted: Sep 20, 2014 8:29 AM
At a Glance: the business dealings of Jeb Bush

Jeb Bush entered the Florida governor's mansion in 1999 with a net worth of $2 million, a relatively modest fortune compared with others in the Bush family. After eight years, his wealth had dipped to roughly $1.3 million.

Within months of leaving office, he started a consulting firm, registered as a broker for Lehman Brothers and joined a number of corporate boards. He is on the boards of four companies, including Tenet Healthcare Corp. and Rayonier Inc., a real estate investment trust that owns large swaths of forestland.

In the past few years, Bush has started or invested in a variety of companies. A look at some of them.

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Britton Hill Holdings LLC

Bush is listed in regulatory filings as chairman and manager of Britton Hill Holdings LLC, a private equity and consulting firm that manages an investment fund primarily focused on the "energy, infrastructure, logistics and environmental services sectors." His partners include former Lehman Brothers banker Amar Bajpai and David Savett, an ex-natural gas trader for Credit Suisse.

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Dorian LPG Ltd.

In April, as first reported by Bloomberg, Britton Hill raised nearly $26 million from 10 investors, including HNA Group of China, for a private equity fund that invested in Dorian LPG, a shipping startup specializing in transporting propane overseas.

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Inflection Energy LLC

Britton Hill has also invested in Inflection Energy, an energy firm looking to tap natural gas resources in the Marcellus Shale in New York and Pennsylvania. The company is in legal battles with landowners over whether it has the right to extend expired exploration leases because New York's moratorium on fracking has prevented it from drilling.

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Three B Partners LLC

Bush is a partner in Three B Partners LLC, a venture he formed in 2013 along with Richard Brockway, a Florida entrepreneur, and Lawrence Burns, former vice president of research and development for General Motors. According to its website, the company "develops dynamic business models to propel today's technological innovations into thriving first-mover businesses."

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Maghicle Driverless LLC

Last year, Three B Partners formed a new entity called Maghicle Driverless that appears to be trying to develop a driverless-car service. The firm recently won initial approval from the federal government for a trademark for "on demand, driverless transportation of passengers and goods via shared vehicles."

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Sources: Securities and Exchange Commission; Florida Department of State; U.S. Patent and Trademark Office.