Jackson Stephens
 Jackson Stephens    (businessman, deep state operative) | |
|---|---|
 | |
| Born | August 9, 1923 Arkansas |
| Died | July 23, 2005 (Age 81) |
| Nationality | US |
| Alma mater | United States Naval Academy |
| Children | • Jackson Stephens Jr • Warren Stephens |
| Interests | • Worthen Bank • Bill Clinton • Jimmy Carter • Lippo Group |
Arkansas oilman and investment banker. Through his company and Worthen Bank, were key financial backers and fundraisers for Bill Clinton during his Presidential election in 1992. | |
Jackson Thomas Stephens was an oilman, investment banker and US deep state operative. He was the CEO of Little Rock, Arkansas-based Stephens Inc., a privately owned financial services company.[1] The Stephens family, through Stephens Inc and Worthen Bank, to which Stephen holds a minority ownership interest, were key financial backers and fundraisers for Bill Clinton during his Presidential election in 1992.
Background
Stephens was born on a farm near Prattsville in Grant County in south Arkansas, the youngest of six children.[2] and grew up during the Depression. Stephens attended the United States Naval Academy, where he met and became friends with a midshipman from Georgia named Jimmy Carter.[3] Upon graduating he joined the Little Rock investment house Stephens Inc., which his brother W. R. "Witt" Stephens had started in 1933. "Forged out of a Bible, belt buckle, and bond business," by 1994 Stephens, Inc., was listed as one of the biggest institutional shareholders in thirty large multinationals including the Arkansas-based Worthen Bank, Tyson Foods, Wal-Mart, and Alltel. Stephens was the father of Jackson Stephens, Jr. and Warren Stephens.
Career highlights
- 1962 – became a member of the Augusta National Golf Club, the host of the annual Masters tournament. Later became the club's chairman from 1991-98.
- 1968 – the Stephenses launch Systematics, Inc, a data processing company. In 1990, Systematics was sold to Alltel and became Alltel Information Services (which in turn would be sold to Fidelity Information Systems.)
- 1970 – underwrote the initial public offering for Wal-Mart Stores
- 1976 – forms Stephens Finance Ltd. in Hong Kong with Mochtar Riady and his Lippo Group.
Politics
Stephens and his wife, Mary Anne, were such outspoken backers of Republican causes, and in particular of President Ronald Reagan, that in the early 1980s they were known as "Mr. and Mrs. Republican of Arkansas."[3] In a rare interview in the early 1980s, Jackson declared that Reagan was giving the country "exactly what we need. Some of us call it tough love."[3] Stephens and his company donated $100,000 to the national Republican Party both in 1988 and 1991.[4] Stephens and his wife were key backers of the unsuccessful bid of U.S. Representative Tommy F. Robinson of Arkansas's 2nd congressional district for the Republican gubernatorial nomination in 1990.[citation needed]. The Stephens family, through Stephens Inc and Worthen Bank, to which Stephen holds a minority ownership interest, were key financial backers and fundraisers for Bill Clinton and the Democratic Party during his Presidential election in 1992. [5]
Other donations
- Stephens gave $48 million to the University of Arkansas for Medical Sciences to establish the Jackson T. Stephens Spine and Neurosciences Institute.
- Stephens gave more than $30 million toward to Little Rock's Episcopal Collegiate School endowment in 2004.[6]
- Stephens gave $20.4 million to the University of Arkansas at Little Rock for a special-events center and a basketball arena that would later be named Jack Stephens Center.
- The football field at the United States Naval Academy is named Jack Stephens Field to honor Stephens and his gift of funds for its renovation.
- Dickey-Stephens Park (home to AA Arkansas Travelers) in North Little Rock, Arkansas, is named for Stephens and his brother "Witt", along with the Dickey brothers, Bill and "Skeets", both former major leaguers.
- Stephens gave some $3 million to construct the Prattsville Community Center in his hometown of Prattsville, Arkansas.
References
- ↑ Jackson T. Stephens, 81, Financier, Dies, Associated Press, July 28, 2005
- ↑ Dennis A. Byrd, Financier, philanthropist Jackson T. Stephens, 81, dies, Greenwood Democrat Tuesday, July 26, 2005
- ↑ a b c Profile: Jackson T. Stephens (with Mary Anne)
- ↑ New York Times February 5, 1992 "Wealthy Investment Family a Big Help to Clinton" by Jeff Gerth
- ↑ Seattle Times January 31, 1993 https://archive.seattletimes.com/archive/?date=19930131&slug=1682819
- ↑ http://www.epsicopalcollegiate.org[dead link]
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