Glen Taylor

Glen A. Taylor (born April 20, 1941) is an American billionaire businessman who is the majority owner of the Minnesota Timberwolves NBA basketball team, owner of the Minnesota Lynx WNBA basketball team, owner of the Star Tribune, and a former member of the Minnesota Senate.

This article is about the Minnesota businessman, politician and team owner. For late Idaho politician and 1948 vice-presidential candidate, see Glen H. Taylor. For other people, see Glenn Taylor (disambiguation).

Glen Taylor
Taylor after the Lynx win their fourth WNBA championship
9th Minnesota Senate Minority Leader
In office
January 9, 1985 – January 5, 1987
Preceded byJames E. Ulland
Succeeded byDuane Benson
Minnesota State Senator
In office
January 6, 1981 – February 3, 1990
Personal details
Born (1941-04-20) April 20, 1941
Springfield, Minnesota
Political partyRepublican
Spouse(s)Becky Mulvihill
ChildrenJean, Terri, Taylor Moor, Jeff, and Kendahl
ResidenceMankato, Minnesota, United States
Alma materMinnesota State University
Harvard Business School
OccupationBusinessman and Entrepreneur
Owner, Minnesota Timberwolves, Minnesota Lynx, Iowa Wolves, Star Tribune

Taylor is ranked on the Forbes 400, and his company ranks on the Forbes list of America's Largest Private Companies.[1] In 2020, his net worth was reported by Forbes to be $2.5 billion.[2]

Early life and education

Taylor was born in Springfield, Minnesota, and grew up on a farm in Comfrey, Minnesota. He graduated from Comfrey High School in 1959, and received a bachelor of science in mathematics, physics and social studies from Minnesota State University, Mankato, in 1962.[3][4] In 1978 he received an executive MBA from Harvard Business School.[5]

Career

During and after college, Taylor worked at Carlson Wedding Service (later Carlson Craft), a Mankato print shop specializing in formal invitations. In 1975, company owner Bill Carlson wanted to retire, and Taylor offered to pay $2 million over the course of 10 years for the company.[6] The purchase (which he paid off early) formed the basis for the Taylor Corporation, a privately held multinational printing and electronics company with more than 15,000 employees and based in North Mankato, Minnesota. Taylor continues to serve as chairman and CEO.[6]

Politics

Taylor was a Republican Minnesota State Senator from 1981 to 1990, serving as assistant minority leader from 1983 to 1985 and Minority Leader from 1985 to 1988.[5] He considered himself a member of the party's moderate wing.[7]

From 2016 to 2020, Taylor donated $119,100 to Republican candidates and causes.[8]

Sports team ownership

Taylor purchased majority ownership of the Minnesota Timberwolves NBA basketball team in 1994[9] and purchased the Minnesota Lynx WNBA basketball team in 1999. Taylor was in talks to buy the Minnesota Twins but nothing came of it.[5]

In 2000, he was banned for nearly a year for signing Joe Smith to a secret contract in violation of the league's salary cap rules. Before Donald Sterling, Glen Taylor was the only NBA owner to be suspended for more than a couple of games.

In 2015, Taylor had a falling out with NBA legend, Kevin Garnett, over a miscommunicated agreement.[10] Garnett had been under the impression that after his retirement from the NBA he would be able to take over ownership of the Minnesota Timberwolves. However, after some discrepancies that was not the case. Taylor and Garnett are no longer on speaking terms[11] and Garnett also refuses to have his jersey retired by the Timberwolves after spending 14 seasons of his career there.[12]

In 2017, Taylor purchased the Iowa Energy of the NBA Development League (later called NBA G League) and renamed the team the Iowa Wolves as the developmental affiliate of the Timberwolves.[13]

He is a past chairman of the board of governors for the NBA serving two terms, 2008-2012 and 2014-2017.

Newspaper ownership

In 2014, he purchased the Star Tribune for about $100 million.[14] He told MinnPost that the famously liberal Star Tribune would be decidedly less liberal under his watch, but noted that the paper had already been shifting more to the center in recent years.[7]


References
  1. "America's Largest Private Companies". Forbes. Retrieved October 20, 2020.
  2. "Glen Taylor". Forbes. Retrieved October 20, 2020.
  3. Doug Anderson (September 14, 2015). "Glen Taylor biography". Minnesota State Press Releases. Minnesota State Colleges and Universities. Retrieved April 27, 2016.
  4. "Influential Leaders". American Association of Colleges of Business. Archived from the original on June 23, 2017. Retrieved April 27, 2016.
  5. "Glen Taylor". Twin Cities Business Magazine. July 1, 2002. Archived from the original on May 13, 2016. Retrieved April 27, 2016.
  6. "Taylor Corporation Website: About Glen Taylor". Taylor Corporation. Retrieved April 27, 2016.
  7. Robson, Britt (April 16, 2015). "New Owner Glen Taylor: Less Liberal Star Tribune Ahead". MinnPost. Retrieved March 7, 2015.
  8. Ziegler, Sara (October 28, 2020). "Inside The Political Donation History Of Wealthy Sports Owners". FiveThirtyEight. Retrieved December 15, 2020.
  9. Aug 6th 1994 - 5am, postbulletin Administrator |. "Wolves sale deal reached". Post Bulletin. Retrieved October 20, 2020.
  10. Gardner, Steve. "Kevin Garnett on Timberwolves owner Glen Taylor: 'I don't do business with snakes'". USA TODAY. Retrieved October 20, 2020.
  11. "Kevin Garnett Rebukes Timberwolves Owner Glen Taylor: 'I Won't Forgive Glen... I Don't Do Business With Snakes'". April 7, 2020. Retrieved April 7, 2020.
  12. "Kevin Garnett not interested in retired T-wolves jersey: 'I don't do business with snakes'". sports.yahoo.com. Retrieved April 7, 2020.
  13. "New Timberwolves D-League team renamed Iowa Wolves". FOX 9 Minneapolis-St. Paul. May 30, 2017. Retrieved October 20, 2020.
  14. "July 1, 2014: Glen Taylor finalizes purchase of Star Tribune". StarTribune.com. July 1, 2014. Retrieved September 27, 2015.
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