Augusta National is the most famous golf club in the world, because it’s also the hardest to get in to.
Membership is granted by invitation only and the club keeps the total roster to around 300 members at any given time.
Naturally, it was a who’s who of America’s old world business elite: CEOs, board chairmen, captains of industry, financial overlords. (Basically, a lot of old white guys.)
But it’s not about money — it’s about who has the most impressive resume. Lottery winners and children of inherited wealth needn’t bother. You have to have accomplished something.
So it really helps if you’ve owned or run a bank at some point in your life. The monied elite of New York and Connecticut are well represented in Georgia.
The great irony is that the club is not even that expensive. Because The Masters tournament itself is so lucrative, membership fees are “only” about $10,000 a year, far less than these giants of the financial world could afford to pay.
Chairman and CEO of Berkshire Hathaway
The legendary investor began buying stock in Berkshire way back in the 1960s, when it was still a textile company.
Now he's the third richest man in the world, with a net worth of $50 billion.
Chairman of BP Capital Management
Pickens became famous in the 1980s with a series of corporate raids and takeovers in the oil industry. He founded BP Capital in 1997, which runs a pair of hedge funds: Capital Commodity and Capital Equity.
Former Chairman of The Carlyle Group
Gerstner was CEO of RJR Nabisco and IBM (a company he's largely credited with saving in the 1990s) and held senior executives slots at American Express and McKinsey & Co. before becoming chairman of private equity firm The Carlyle Group in 2003.
Co-Founder and former Chairman of The Blackstone Group
Peterson founded Blackstone in 1985 after a decade-long run as Chairman and CEO of Lehman Brothers.
He was also Secretary of Commerce under President Nixon in 1972 and was Chairman of the Federal Reserve Bank of New York between 2000 and 2004.
Vice Chairman of Goldman Sachs
Weinberg is the son of former Goldman Sachs management committee chairman John L. Weinberg, who passed away in 2006.
He served as co-head of the firm's investment banking division before becoming Vice Chairman in 2006.
CEO and Chairman of American Express
Chenault worked his way up through the management tiers of American Express for 20 years, before becoming just the third ever African-American CEO of a Fortune 500 company.
Chairman of Accel-KKR and KKR Financial; former Chairman and CEO of Wells Fargo
Hazen worked for a variety of banks before ending up at Wells Fargo in 1970, where he worked his way up until being named Chairman and CEO in 1995.
He was elected Chairman of KKR in 2004, a position he still holds.
Former Chairman and CEO of Citigroup
Weill co-founded Carter, Berlind, Potoma & Weill in 1960, the firm that would become Shearson.
He sold the brokerage to American Express in 1981 and eventually he took over travellers Group, which merged with Citicorp in 1998 to form Citigroup.
Former Chairman of the Board, JP Morgan Co.
As chair at JP Morgan, Warner famously championed the firm's monster merger with Chase Manhattan and has since retired.
Most recently he was elected to a 6-year term on the governing body of his alma mater, Yale University.
Former Chairman and CEO of Citigroup; Former Chairman of the New York Stock Exchange
Reed was at the helm of Citicorp before the merger with travellers Group, but was ousted in the ensuing shakeup of top management.
He went on to chair the NYSE as it was restructuring as a public corporation following the merger with ArcaEx.
Former Chairman and CEO of Chase Manhattan
Shipley was CEO of Chemical Bank, retaining his role after the bank bought Chase Manhattan in 1996. He had held the position for nearly 20 years until 2000, just before the merger with JP Morgan.
Former Managing Director and Chief Executive of McKinsey & Company
A former US Navy officer, Daniel started at McKinsey in 1957, becoming managing director in 1976, a position he would hold for 12 years.
He also served as as treasurer of his alma mater, Harvard University, and as the chair of the Harvard Management Company.
Former Chairman of the Bessemer Trust
Son of famed Thoroughbred breeder Ogden Phipps, 'Dinny' Phipps found the same success in horse racing, eventually becoming chairman of The Jockey Club and the New York Racing Association.
He was also the chairman of the Bessemer Trust, the family-owned wealth management firm, but he stepped down in 1994, replaced by another Phipps scion, Stuart S. Janney III.
In addition, to those banking kingpins, there are many other names you would have no trouble recognising in a lineup of powerful people:
Bill Gates, Chairman of Microsoft
Samuel Nunn, U.S. Senator
George Shultz, Former Secretary of State
William Clay Ford, Owner of the Detroit Lions, Former Chairman of Ford Motor Co. (This may also be his son, who is current Chairman of Ford.)
Roger Penske, Owner of Penske Racing
Nelson Doubleday, Former President of Doubleday Publishing and Former owner of the New York Mets
Ike was the only President ever to be a member (he was actually a member before getting elected) and as the ultimate war hero, was one of the few members who could boss the club leaders around.
He even got his own cabin on the grounds and convinced them to build a fishing pond, which is named after him.
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