Richard Chandler (businessman)
Chandler "has a reputation for buying struggling companies and successfully rebuilding them," according to Australian Broadcasting Corporation News.After selling the company he moved to Monaco, where[7] in 1986, Richard and his brother Christopher founded Sovereign Asset Management, their own investment firm.With US$10 million in starting capital[4] and Richard serving as CEO,[2][11] by in the late 1980s the company focused on Hong Kong real estate.They ultimately sold their stake in 2005 after the board rebuffed their efforts to replace SK Corp. chairman and CEO Chey Tae-won, who had been convicted of accounting fraud for illegal stock trades.[12][4] Originally based in Singapore, Dubai, and London,[4] Orient Global changed its name to Richard Chandler Corporation in April 2010.[25] Through the Clermont Group, Chandler agreed to pay $US76 million for a 70% stake in Eviation, an Israeli startup developing electric aircraft,[23] in 2019.[29] Other core partners at the time included Bill and Melinda Gates, Jeffrey Skoll, Kathy Wadhwani, and The Rockefeller Foundation.