If you want to be a billionaire or an influential person in the United States, going to Harvard Business School is a great idea. Since 1908, HBS has been the destination for some of the most successful people in the country, including Robert Kraft, Sheryl Sandberg, Meg Whitman, Michael Bloomberg, Ray Dalio, and more.
One of the most intelligent people who graduated from HBS is Daniel D'Aniello. His net worth exceeds $3.5 billion, making him the 3rd richest person in Virginia. He is married and lives in Vienna, Virginia, with his wife.
Who is Daniel D'Aniello?
Daniel D'Aniello is an American billionaire business executive, co-founder, and chairman of the Carlyle Group. Carlyle Group is a private equity firm managing over $301 billion in assets. The company has 26 offices across five continents and employs 1,850 professionals.
Daniel D'Aniello was born September 14, 1946, in Butler, Pennsylvania. He graduated from Syracuse University in 1968. After graduating from Syracuse, he served in the United States Navy from 1968 through 1971. He went back to Harvard and graduated from Harvard Business School in 1974. Then, armed with his business degree, he worked at PepsiCo and Trans World Airlines, a major American airline operated from 1930 until 2001.
A few years later, he joined Marriott Corporation as their vice president for finance and development. At Marriott, he focused on mergers, acquisitions, and project financings. In 1987, Daniel D'Aniello co-founded the Carlyle Group with David Rubenstein, William E. Conway Jr., and two others. Today, he serves as non-executive chairman emeritus.
He serves on many boards, including the American Enterprise Institute, Syracuse University, and many more. In addition, the family donates a lot of money to their local church. For example, in 2014, he donated $4 million to expand a local seminary and has contributed to many other church projects.
If you had Daniel D'Aniello, what causes would you support?
The history behind the brand.
In 1987, five friends created a powerful investment banking boutique. In 1987, five friends started Carlyle Group, an investment banking boutique: Daniel A. D'Aniello, William E. Conway, Jr., Stephen L. Norris, David M. Rubenstein, and Greg Rosenbaum.
Rosenbaum and Norris departed the firm, and D'Aniello, Conway, and Rubenstein remain active partners. Under their leadership, Carlyle became a dominant force in buying businesses related to the defense industry.
Four big acquisitions:
- In 1992, they purchased the Electronics division of General Dynamics Corporation, a producer of military electronics systems. They rebranded it to GDE Inc. and sold it to Tracor in October 1994.
- In 1993, the partners bought Magnavox Electronic Systems, the military communications, and electronic-warfare system from Philips Electronics, and sold for about $370 million two years later.
- In 2005, Carlyle partnered with other firms to complete a $15.0 billion leveraged buyout of The Hertz Corporation, the biggest car rental agency in the country.
- In 2020, The Carlyle Group and T&D Holdings purchased a 76.6% stake in Fortitude Group Holdings, a group of companies including Fortitude Re, from American International Group.
According to the company, Carlyle delivered record Fee-Related Earnings of $520 million, with margins over 30% in 2020, so the firm continues to be very profitable.