John Galbraith (with Rosemary)
March 5, 2001 John Galbraith is perhaps best known in the financial world for helping build Templeton, Galbraith & Hansberger Ltd., a global fund management firm. In the mid-1970s, the firm was worth $10 million when Galbraith joined John Templeton, the father of John M. Templeton Jr. (No. 34, $555,950). By 1991, when the partners sold their interest to Franklin Resources, the firm's value had grown to more than $21 billion. Galbraith currently serves as director or trustee of 18 different investment companies under the auspices of Franklin Templeton Investments. In all, the firm manages $230 billion in mutual funds and other investments. As one of the largest managers of the nation's retirement savings, the company could benefit from President George W. Bush's plan to privatize portions of Social Security. During the last election cycle, Galbraith contributed $275,00 to the Republican National Committee, and supported the campaigns of conservative congressmen such as John Ashcroft, J.C. Watts Jr., Bob Barr, Phil Gramm, and Henry Hyde. Outside of finances and politics, Galbraith and his wife Rosemary are better known for their charitable donations. Over the years, the Galbraiths have pumped millions of dollars into the Florida International Museum and the Galbraith Marine Science Laboratory at Eckerd College in St. Petersburg, Florida. According to the St. Petersburg Times, such charity led one enthusiastic member of the city council to call for Galbraith's sainthood. -- Joshua Woodard | | |
