Sunday, March 2, 2014

Superyacht Solemates - owned by Reebok USA founder Paul Fireman



Solemates  -  60.0m (197ft)  -  Lurssen -  2010
Paul Fireman  -  net worth USD 1 billion  -  USA
Reebok  -  www.reebok.com
Paul Fireman is the owner of the superyacht Solemates. Fireman was the CEO of Reebok from 1979 until 2005. In 2005 he sold the company to Adidas for US$ 3.8 billion, netting himself US$ 650 million for his 17% stake. Paul Fireman founded Reebok USA in 1979, after he bought the rights to the Reebok line of running shoes from the British shoe manufacturer J. W. Foster & Sons. In 1981 he sold 60% of the company to Pentland Industries, a London based investment company, to raise cash. Reebok became very successful and turned into one of the fastest growing companies of all time. The companies first success was the introduction of women athletics support shoes, which were comfortable and colorful. Sales grew from US$ 3 million in 1982 to US$ 919 million in 1986. In the 1990’s Paul Fireman’s annual salary amounted US$ 30 million a year.  In 2005 sales were US$ 3.8 billion, when Adidas acquired the company. In the 1990 Paul Fireman has his own investment firm  named Fireman Capital Partners.  Fireman Capital Partners invests in consumer-focused companies through both growth equity and buyout transactions, focusing on consumer businesses with revenues between $10 and $150 million.   Fireman is an active philanthropist: he and his wife Phyllis are co-founders of the Paul & Phyllis Fireman Family Foundation, one of Massachusetts' largest private foundations.  Fireman’s yacht Solemates is available for charter.


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