When a discussion starts regarding the top self-made millionaires in the country, Bruce Levenson’s name is usually one of the first to be mentioned. From a middle class Jewish family living in Maryland, he used his own business genius to start a company that would go on to be incredibly successful. Levenson’s story is proof that anyone can make it if they are dedicated to their goal. Although it took a while for him to figure out exactly what to focus his attention on, he never let go once he found it. He is now one of the owners of the Atlanta Hawks professional basketball team in the NBA. His path to this lofty perch is very impressive. Let’s take a look at how Bruce Levenson became a force to be reckoned with in the business world.
Not surprisingly, Times’ Bruce Levenson boasts a very impressive academic background. This is a common theme when you start to look at millionaires that made all of their money without the aid of a rich family to get them started. He earned a bachelor’s degree from Washington University. It is generally regarded as one of the finest academic institutions in the United States. His success at this school allowed him to easily get accepted into the law school of his choice. He decided to go to American University because the law program at that school is very highly regarded.
Interestingly, it was not in the legal profession where Levenson first became a success. He did graduate law school. However, it was a business idea that he and a friend came up with that eventually made him rich. Back in the late 1970s, the oil industry was very chaotic both in America and overseas. Because of this, there was a great deal of important information that companies in the oil industry needed in order to keep apprised of what was going on in other countries. This was many years before the Internet, so information on many subjects was hard to come by. Levenson and a friend started a company called United Communications Group (UCG). They had the bright idea to publish a newsletter that would include all of the most important information in the oil industry in a way that was easy to read. Many oil industry companies started to buy their newsletter in large quantities to distribute to their subsidiaries. It was not long before they started to branch out into newsletters featuring information in other industries.
UCG continued to expand. Because of this, Levenson’s wealth kept growing at a steady rate. In 2005, he heard that longtime owner Ted Turner was finally going to be selling the Atlanta Hawks. Since NBA teams do not go up for sale very often, Levenson knew this was a unique business opportunity. He gathered some other successful people he knew from his various business dealings. They combined their money and made a successful bid to buy the Hawks. Levenson has also used his considerable wealth to help people who are poor and uneducated.