He’s considered to be the creator of Light Squared and Harbinger Capital. In 2011, he was named by Forbes as the world’s 540th most affluent individual and also in the U.S., he ranked #188.
Philip Falcone Net Worth $1.2 Billion
Prior to his present success, Philip Falcone has worked for many businesses including Kidder, Peabody & Co., Wachovia and AAB Manufacturing Corporation, where he served as the chief executive officer and President. He’s among the members of the council which founded Kissinger Institute in China as well as the United States.
In June 2012, Falcone was accused of U.S. Securities and Exchange Commission by the U.S. Securities and Exchange Commission. Several companies alleged that Falcone had conducted illegal activities to falsify the cost of bonds, used funds to pay his taxes, favored several customers at other’s expense and buying equity securities in public offerings unlawfully. Starting May 2013, Philip Falcone was banned from SEC deal as a Investment Advisor to get a amount of two years.