Sam Wyly

Sam Wyly (born October 11, 1934) is an American entrepreneur, businessman, author, and philanthropist. He is known for founding or co-founding several successful companies in the fields of technology, retail, and energy.

Business Career: Wyly's early business ventures included University Computing Company (UCC), a pioneering computer services firm. He subsequently founded or played a significant role in the development of companies such as Sterling Software, Michaels Stores, Bonanza Steakhouse, and Maverick Capital. He was also involved in energy ventures, including Wyly Oil and Gas and later, TXU Corporation (formerly Texas Utilities).

Legal and Financial Issues: Wyly and his brother, Charles Wyly, faced scrutiny and legal challenges from the Securities and Exchange Commission (SEC) regarding alleged securities fraud related to offshore trusts. After years of litigation, a judgment was entered against them. Sam Wyly filed for personal bankruptcy in 2014.

Philanthropy: Wyly has been involved in philanthropic activities, including support for education and medical research.

Author: Wyly has authored books on business and entrepreneurship, sharing his perspectives and experiences.

Legacy: Wyly's career reflects a history of entrepreneurial ventures and innovation across various industries, but his legacy is also marked by the legal controversies he faced later in life.