David I Saperstein
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David I. Saperstein (born 1941) is an American
entrepreneur Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones. An entreprene ...
and founder of
Metro Networks Metro Networks was a broadcasting outsourcing company based in Houston, Texas. It was a subsidiary of Westwood One until its sale to Clear Channel Communications in 2011. The company operated local and regional news and traffic operations that pr ...
.


Biography

Saperstein was born to
Jewish Jews (, , ), or the Jewish people, are an ethnoreligious group and nation, originating from the Israelites of History of ancient Israel and Judah, ancient Israel and Judah. They also traditionally adhere to Judaism. Jewish ethnicity, rel ...
parents in
Baltimore Baltimore is the most populous city in the U.S. state of Maryland. With a population of 585,708 at the 2020 census and estimated at 568,271 in 2024, it is the 30th-most populous U.S. city. The Baltimore metropolitan area is the 20th-large ...
. He dropped out of college to sell used cars. When he got stuck in a snowstorm he came up with the idea to sell traffic reports on the radio. He used his Ford Dealership to start his new venture in Baltimore. When Ford withdrew its support of Saperstein and he lost his dealership, he founded
Metro Networks Metro Networks was a broadcasting outsourcing company based in Houston, Texas. It was a subsidiary of Westwood One until its sale to Clear Channel Communications in 2011. The company operated local and regional news and traffic operations that pr ...
in 1978. the company grew to serve over 1,500 radio stations in the U.S. In 1996, Saperstein decided to take Metro Networks public on the
Nasdaq The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...
exchange, stock symbol MTNT. He made his fortune when he sold the company to
Westwood One Westwood One, Inc. is an American radio network owned by Cumulus Media. The company syndicates talk, music, and sports programming. The company takes its name from an earlier network also named Westwood One, a company founded in 1976. The co ...
in 1999 for $1.25 billion in stock. Now he operates tree farms in
Texas Texas ( , ; or ) is the most populous U.S. state, state in the South Central United States, South Central region of the United States. It borders Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the we ...
and
Florida Florida ( ; ) is a U.S. state, state in the Southeastern United States, Southeastern region of the United States. It borders the Gulf of Mexico to the west, Alabama to the northwest, Georgia (U.S. state), Georgia to the north, the Atlantic ...
: "''It's a growing business,''" he once told a reporter for ''
Forbes ''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...
'' magazine. In 1988, Saperstein was elected to the
Common Cause Common Cause is a watchdog group based in Washington, D.C., with chapters in 35 states. It was founded in 1970 by John W. Gardner, a Republican, who was the Secretary of Health, Education, and Welfare in the administration of President Lyndon ...
National Governing Board.


Entrepreneurism

Saperstein began his career selling used cars in Baltimore, but quickly found there was a niche for radio programming to include traffic reports. While
traffic reporting Traffic reporting is the near real-time distribution of information about road conditions such as traffic congestion, detours, and traffic collisions. The reports help drivers anticipate and avoid traffic problems. Traffic reports, especially ...
was already a part of radio programming in some cities, Saperstein found there was no single company providing concise reports for stations, either regionally or nationally. In 1978 he founded Metro Networks, in
Houston Houston ( ) is the List of cities in Texas by population, most populous city in the U.S. state of Texas and in the Southern United States. Located in Southeast Texas near Galveston Bay and the Gulf of Mexico, it is the county seat, seat of ...
, Texas. The company grew, through the 1980s, into a veritable traffic reporting empire, and in 1996, Saperstein took the company public on the Nasdaq exchange. In 1992, Saperstein's daughter married Shane Coppola in Baltimore, Maryland in a wedding that was described as "the social event of the season in the nation's capital." The wedding is referenced in the 1993 film ''Dave'', starring Kevin Kline. In 1998, Saperstein, with his son-in-law, Coppola, began negotiating a merger agreement with Westwood One, and in September 1999 three companies merged, Metro Networks, Copter Acquisition Corp. and Westwood One. Only 9 days before the merger between
Metro Networks Metro Networks was a broadcasting outsourcing company based in Houston, Texas. It was a subsidiary of Westwood One until its sale to Clear Channel Communications in 2011. The company operated local and regional news and traffic operations that pr ...
and Westwood One, Saperstein started a new company called Five "S" Capital, Inc. Five "S" is an investment company that helps to fund new business development.


Philanthropy

Saperstein sits on the boards of
Cedars-Sinai Hospital Cedars-Sinai Medical Center is a non-profit, tertiary, 915-bed teaching hospital and multi-specialty academic health science center located in Los Angeles, California. Part of the Cedars-Sinai Health System, the hospital has a staff of over 2,00 ...
and Music Center of Los Angeles. He is also a member of the Homeland Security Advisory Committee. In 2006, the Saperstein Critical Care tower that bears his name was opened at Cedars-Sinai Medical Center. Initially named the David and Suzanne Saperstein Tower, it had to be renamed after his rancorous divorce. In 2009, he donated $12 million to help build the Milken Middle School, a Jewish day school in
Los Angeles, California Los Angeles, often referred to by its initials L.A., is the List of municipalities in California, most populous city in the U.S. state of California, and the commercial, Financial District, Los Angeles, financial, and Culture of Los Angeles, ...
; it was renamed the David Saperstein Middle School in his honor.


Personal life

Saperstein has been married three times. He has two children with his first wife, Phyllis Grief – Michelle Saperstein Coppola and Jennifer Saperstein Kalapoutis. In 2006, Saperstein divorced his second wife of 23 years,
Swedish Swedish or ' may refer to: Anything from or related to Sweden, a country in Northern Europe. Or, specifically: * Swedish language, a North Germanic language spoken primarily in Sweden and Finland ** Swedish alphabet, the official alphabet used by ...
philanthropist Suzanne () Saperstein, whom he married in 1986. He had the divorce papers served to her in Texas on a stopover on her way from California to Europe. They had three children – Jonathan (b. 1987), Alexis (b. 1988), and Stefanie (b 1990).W Magazine: "Oh, Suzanne - After lying low during her billion-dollar divorce, Suzanne Saperstein is back—with a new man and plenty of unexpected new missions" by Christopher Bagley
December 2008
Saperstein later married another Swedish woman, Hillevi Svensson (1973–2019) from Bua in
Varberg Varberg () is a Urban areas in Sweden, locality and the seat of Varberg Municipality, Halland County, Sweden, with 35,782 inhabitants in 2019. Varberg and all of Halland are well known for their "typical west coast" sandy beaches. In Varberg th ...
, formerly
nanny A nanny is a person who provides child care. Typically, this care is given within the children's family setting. Throughout history, nannies were usually servants in large households and reported directly to the lady of the house. Today, modern ...
to his children. They had twins together. On January 2, 2019, Hillevi died while vacationing in
Anguilla Anguilla is a British Overseas Territories, British Overseas Territory in the Caribbean. It is one of the most northerly of the Leeward Islands in the Lesser Antilles, lying east of Puerto Rico and the Virgin Islands and directly north of Sa ...
with David and their two children. His cousin,
Ken Mehlman Kenneth Brian Mehlman (born August 21, 1966) is an American social entrepreneur and businessman. He serves as a member, global head of public affairs, and co-head of KKR global impact at investment firm Kohlberg Kravis Roberts. He oversees the fir ...
was the former national Republican chair and president George W. Bush's strategist for both of his terms. During the 1990s, Saperstein built a 12-bedroom, 15-bathroom Versailles-style estate called
Fleur de Lys The ''fleur-de-lis'', also spelled ''fleur-de-lys'' (plural ''fleurs-de-lis'' or ''fleurs-de-lys''), is a common heraldic charge in the ( stylized) shape of a lily (in French, and mean and respectively). Most notably, the ''fleur-de-lis ...
with his then-wife, Suzanne, sprawled across several acres on Carolwood Drive in
Holmby Hills Holmby Hills is a neighborhood on the Westside of Los Angeles, California, United States. The neighborhood was developed in the early 20th century by the Janss Investment Company, which developed the rest of Westwood, Los Angeles as well as oth ...
. The home is listed by ''
Forbes ''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...
'' magazine as one of the most expensive in the United States, with an estimated
property value Real estate appraisal, home appraisal, property valuation or land valuation is the process of assessing the value of real property (usually market value). The appraisal is conducted by a licensed appraiser. Real estate transactions often require ...
of about $125 million. The compound, which according to ''W'' Magazine is inspired by France's 17th-century
Vaux-le-Vicomte The Château de Vaux-le-Vicomte () or simply Vaux-le-Vicomte is a Baroque French château located in Maincy, near Melun, southeast of Paris in the Seine-et-Marne Departments of France, department of Île-de-France. Built between 1658 and 1661 ...
, occupies about and is called Fleur de Lys ("
Lily ''Lilium'' ( ) is a genus of herbaceous flowering plants growing from bulbs, all with large and often prominent flowers. Lilies are a group of flowering plants which are important in culture and literature in much of the world. Most species are ...
Flower" in
French French may refer to: * Something of, from, or related to France ** French language, which originated in France ** French people, a nation and ethnic group ** French cuisine, cooking traditions and practices Arts and media * The French (band), ...
). The home took five years to build and the couple were divorced 18 months after it was completed. His wife Suzanne had the house on the market at a listing price of $125 million shortly after divorcing her husband. He also owns a horse ranch nestled in the hills at the east end of
Simi Valley, California Simi Valley (; Chumashan languages, Chumash: ''Shimiyi'') is a city in Simi Valley (valley), the valley of the same name in southeastern Ventura County, California, United States. It is from Downtown Los Angeles, making it part of the Greater ...
, called Hummingbird Nest Ranch. The ranch has a main villa, a period ranch house, four guest houses, and stables for dozens of horses. By 2014, the 126-acre property had become a self-contained village with housing for staff, a commercial laundry, water wells, diesel generators, a gasoline pump and a large solar panel field.Brumback, Elijah (October 10, 2014
"Hummingbird Ranch project in Simi falls out of nest"
''Pacific Coast Business Times''


References

{{DEFAULTSORT:Saperstein, David I 1941 births 20th-century American Jews Living people Farmers from Texas American telecommunications industry businesspeople American billionaires Businesspeople from Baltimore Businesspeople from Houston Businesspeople from Los Angeles People from Holmby Hills, Los Angeles 21st-century American Jews