Joe Lewis Allbritton (December 29, 1924 – December 12, 2012) was an American banker, publisher and philanthropist.

Early life

Joe Allbritton was born on December 29, 1924, in D'Lo, Mississippi, the sixth of seven children. His family soon relocated to

Houston, Texas 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 ...

, where his father owned a small business. Allbritton served in the

United States Navy The United States Navy (USN) is the naval warfare, maritime military branch, service branch of the United States Department of Defense. It is the world's most powerful navy with the largest Displacement (ship), displacement, at 4.5 millio ...

during

World War II World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...

. He completed his undergraduate degree and law degree from Baylor University, where he was a national champion debater.

Business

After naval service and law school, he borrowed $5,000 to buy land outside Houston, which was later used in the construction of a freeway connecting Houston and Galveston, earning Allbritton a small fortune. He also chaired Houston International Bank, Houston Citizens Bank and University Bankshares. In 1975, he purchased The Washington Star along with its television station and smaller stations in the south. In 1978, he was forced to divest the newspaper. This became the foundation of his company, Allbritton Communications, which includes WJLA-TV, NewsChannel 8, short lived Internet venture TBD, and

Politico ''Politico'' (stylized in all caps), known originally as ''The Politico'', is an American political digital newspaper company founded by American banker and media executive Robert Allbritton in 2007. It covers politics and policy in the Unit ...

, now run by his son, Robert Allbritton. From 1981 to 2001, he was chairman of Riggs Bank. In 1992, he sold the Los Angeles based Pierce National Life Insurance Co. that he had owned since 1958. Ten years after acquiring Riggs Bank, the bank started to under perform, causing great financial distress on Allbritton. He resigned due to prostate cancer during investigation by the Securities and Exchange Commission involving oil money from Equatorial Guinea at the same time that Riggs was facing broader charges of money laundering; his son Robert assumed the chairman position after his resignation; the bank was later purchased by PNC in 2005. The Riggs Bank was also investigated for concealing Pinochet's money, an investigation that revealed direct ties between the dictator and Joe Allbritton. He remained a member of the board of Riggs Bank's parent company Riggs National Corporation until 2004.

Philanthropy

Allbritton and his wife, Barbara, were major contributors through to numerous organizations through the Allbritton Foundation. Organizations they donated to including the Baylor College of Medicine, the Allbritton Art Institute, the Oxford Scholars, and the establishment of the International School of Law, which has become the George Mason University School of Law. He sat on the boards of the John F. Kennedy Center for the Performing Arts and Museum of Fine Arts, Houston. Albritton funded the official White House portrait Ronald Reagan by Everett Raymond Kinstler, which is part of the art collection of the

White House The White House is the official residence and workplace of the president of the United States. Located at 1600 Pennsylvania Avenue Northwest (Washington, D.C.), NW in Washington, D.C., it has served as the residence of every U.S. president ...

. He contributed to Washington National Cathedral, where he was made a Lay canon.

Thoroughbred racing

Allbritton also made a name for himself in

thoroughbred horse racing Thoroughbred racing is a sport and Horse industry, industry involving the Horse racing, racing of Thoroughbred horses. It is governed by different national bodies. There are two forms of the sport – flat racing and jump racing, the latter know ...

. In 1991, his 3-year-old horse, Hansel, won two legs of the U.S. Triple Crown series, the Preakness and the Belmont stakes.

Death

He died on December 12, 2012, aged 87, of heart trouble, in

. He is survived by his widow, Barbara, and their son,

Robert The name Robert is an ancient Germanic given name, from Proto-Germanic "fame" and "bright" (''Hrōþiberhtaz''). Compare Old Dutch ''Robrecht'' and Old High German ''Hrodebert'' (a compound of ''Hrōþ, Hruod'' () "fame, glory, honour, prais ...

and three grandchildren.

References

External links

Obituary at www.politico.com
{{DEFAULTSORT:Allbritton, Joe 1924 births 2012 deaths People from Simpson County, Mississippi Lawyers from Houston Baylor University alumni United States Navy personnel of World War II American newspaper publishers (people) Businesspeople from Houston Journalists from Houston 20th-century American businesspeople 20th-century American lawyers 20th-century American philanthropists Burials at Washington National Cathedral Competitive debaters