The Legacy of Arpad Busson: Tales from the High-Stakes World of Finance
Biography of Arpad Busson:
André Arpad Busson, born on January 27, 1963, entered the
world of hedge funds in 1986 in New York. This marked the beginning of a
remarkable journey in finance.
Busson's entrepreneurial spirit led him to found and chair
the EIM Group, a prominent player in the fund of funds industry. His leadership
has helped shape EIM into a powerhouse in the finance sector.Beyond his success
in finance, Busson is deeply committed to philanthropy. He actively
participates in various charitable causes, using his wealth and influence to
make a positive impact on society.
Busson's financial acumen has garnered him significant
recognition. According to the French business magazine Challenges, his net
worth was estimated at €500 million in 2013, underscoring his prominence in the
financial realm. Arpad Busson is a French financier who has a net worth of $1
billion dollars.
Arpad Busson's Family Background
Arpad Busson's father, Pascal Busson, had a multifaceted
background, having served as a former French army officer and a veteran of the
Algerian War before transitioning to a career in finance.
His mother, Florence "Flockie" Harcourt-Smith,
hailed from England and had previously been a debutante. The couple, who met in
Paris, named their son after Árpád Plesch, a Hungarian-born banker who held
significant familial ties to Florence.
Árpád Plesch, Florence's step-father and step-grandfather,
played a prominent role in her life and had notable connections, including
mentoring Italy's wealthiest individual, Gianni Agnelli, the former head of
Fiat.
Arpad Busson's family connections extend further, with his
aunt, Joanna Harcourt-Smith, being a companion of Timothy Leary, a figure known
for his association with countercultural movements. Interestingly, Leary was
married during the early 1960s to Nena von Schlebrügge, who later became
Arpad's partner, Uma Thurman's, mother.
Arpad Busson: Early Life and Education
Arpad Busson is affectionately known by his childhood
nickname "Arki," derived from a combination of his name, Arpad, and
his mother Florence's nickname, Flockie.
While some sources suggest that Busson showed early
entrepreneurial spirit by selling toothpicks door-to-door during his upbringing
in France (a claim he denies), he received his education in France and at the
prestigious Institut Le Rosey in Rolle, Switzerland.
Following his education, Busson fulfilled his national
service obligation in the French army, serving as a medical orderly. A friend
remarked that this experience instilled in him a deep appreciation for
discipline and played a pivotal role in shaping his character.
Arpad Busson: Early Career in Hedge Funds
Arpad Busson embarked on his journey in the hedge fund
industry in 1986, starting his career with Dubin Swieca. He later transitioned
to a marketing role at Tudor Investments, a fund managed by Paul Tudor Jones.
Founding of EIM Group
In 1991, Arpad Busson established the EIM Group, with the
vision of offering fund-of-fund management services to the burgeoning institutional
market for hedge funds.
Involvement in High-Profile Investigations
In November 2001, EIM, under Arpad Busson's leadership, was
enlisted by the FBI to aid in tracing the financial activities of al-Qaida.
Despite this involvement, the FBI clarified that EIM was not a target of the
investigation and was fully cooperative.
Merger with Gottex Fund Management and Transition to LumX
In December 2013, Arpad Busson orchestrated the merger of
his EIM Group with the Swiss listed investment company Gottex Fund Management
Holdings, marking a significant milestone in his career trajectory.
Transition to Executive Chairman
Following the merger, in July 2015, Busson assumed the role
of interim executive chairman at Gottex Fund Management, succeeding Joachim
Gottschalk. His appointment aimed to facilitate the transition process until a
permanent executive chairman was found.
Rebranding to LumX and Delisting
Subsequently, Gottex Fund Management underwent a rebranding
initiative and emerged as LumX. However, the company faced challenges and
incurred losses exceeding $55 million over five years, leading to its delisting
from the Swiss Stock Exchange in June 2020. The delisting effectively concluded
Arpad Busson's tenure as a hedge fund manager, marking the end of an era in his
professional journey.
Personal Life and Relationships
Arpad Busson's journey through personal relationships has
been marked by significant milestones and transitions.
Relationship with Elle Macpherson
In 1996, Busson embarked on a relationship with Australian
supermodel Elle Macpherson. Together, they share two sons: Arpad Flynn Busson,
commonly known as Flynn, born in February 1998 in New York City, and Aurelius
Cy Andrea Busson, born in February 2003 in London. The family resided in London
until their separation in July 2005.
Relationship with Uma Thurman
Following his separation from Macpherson, Busson began
dating American actress Uma Thurman in 2007. The couple announced their
engagement in June 2008 but later ended it in December 2009. Despite this, they
reconciled shortly after the birth of their daughter, Rosalind Arusha Arkadina
Altalune Florence Thurman-Busson, known as Luna, born in July 2012 in Boston.
However, their engagement was called off for the second time in April 2014. In
January 2017, Thurman and Busson entered into a custody battle for their
daughter, with Thurman eventually receiving primary physical custody later that
month.
The Legacy of Arpad Busson: Tales from the High-Stakes World of Finance
Business Ventures and Art Sales
In addition to his personal life, Busson has been involved
in notable business ventures, including selling Andy Warhol's portrait Mao
(1973) for $12 million at Phillips in New York in 2012.
Arpad Busson: Advocate of Venture Philanthropy
Arpad Busson is a vocal advocate of "venture
philanthropy," a strategy that applies business management practices to
charitable endeavors to enhance their impact and effectiveness.
Leadership at ARK Charity
As a founding trustee and chairman of the board of directors
of ARK (Absolute Return for Kids), Busson has been instrumental in shaping the
organization's mission and operations. Although he stepped down from the chairman
position in 2009, he continues to serve as the founding chairman and chairman
of ARK US, playing a pivotal role in fundraising and overseeing initiatives.
Transformative Initiatives at ARK
ARK focuses on raising charitable contributions from the
hedge fund industry to support children affected by various challenges such as
abuse, disability, illness, and poverty. The organization channels these funds
into projects aimed at transforming the lives of children in Eastern Europe,
South Africa, and the UK through education and healthcare.
The Annual Ark Dinner: A Beacon of Philanthropy
The annual Ark Dinner, spearheaded by Busson, serves as a
key fundraising event, attracting high-profile individuals and celebrities who
come together to support the charity's cause. Notable attendees in previous
years have included Bill Clinton, Queen Rania of Jordan, and the Duke and
Duchess of Cambridge, further amplifying the charity's reach and impact.
ARK's Global Impact
ARK is active in various areas, including providing AIDS
treatment in Africa, helping children in Bulgaria and Romania leave care
systems, and creating educational opportunities for underprivileged kids in
India.
ARK Academies: Empowering Education
Through its branch charity ARK Academies, ARK operates eight
schools, six of which are located in London. These schools aim to provide
quality education to children from disadvantaged backgrounds.
Arpad Busson's Vision for ARK
Arpad Busson believes that by applying entrepreneurial
principles to charity work, organizations like ARK can make a significant
difference in children's lives. He emphasizes the potential to transform lives
through innovative approaches to philanthropy.
Patronage and Support Beyond ARK
Arpad Busson is involved in other charitable endeavors as
well. He serves as a patron of the Elton John AIDS Foundation and is a founding
member of Theodora Children's Trust, which brings joy to hospitalized children
through visits from entertainers known as "Giggle Doctors."
Arpad Busson's Leadership Roles and Contributions
Arpad Busson holds the position of Executive Chairman at
LumX Asset Management. He also founded and previously served as Chairman at
EIM. Additionally, he served as Executive Chairman at LumX Group. As a French
citizen, Busson currently serves as the Executive Chairman of the Company.
Industry Recognition and Regulatory Contributions
Arpad Busson's expertise in the hedge fund sector has led to
his participation as an industry expert on numerous panels for regulatory
bodies in France, Switzerland, Germany, and the United States. His insights and
contributions have helped shape regulatory frameworks and practices in the
financial industry.
Arpad Busson's Philanthropic Influence
In 2011, when the Duke and Duchess of Cambridge sought a
notable occasion to mark their initial official engagement as a married couple,
they naturally chose to attend the Ark charity ball, organized by the
charismatic hedge fund manager Arpad Busson.
By this time, Busson's annual philanthropic gatherings had
gained widespread renown. In 2007, affectionately known as "Arki" to
his friends, Busson orchestrated an astounding fundraising achievement of £27
million in a single evening for the children's charity Absolute Return for Kids
(ARK).
This fundraising feat set a new benchmark for such events.
The gala featured esteemed guests like former US president Bill Clinton, who
delivered the opening speech, and a performance by the iconic singer Prince.
(Madonna even served as the warm-up act.)
Arpad Busson, previously engaged to Hollywood actress Uma
Thurman, had established himself as a prominent figure in high finance circles.
Tables at his charity dinner, initiated in 2002, commanded prices as high as
£100,000 each. Notably, Busson's extensive network of contacts enabled him to
personally secure a significant portion of these tables, reportedly selling up
to a third of them himself.
