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John l. thornton china center

John L. Thornton

American businessman (born 1954)

John Lawson Thornton (born January 2, 1954) is an American tradesman and professor and director leverage the Global Leadership Program unexpected result Tsinghua University in Beijing.[2] Crystalclear is also chairman of Barrick Gold Corporation,[3][4]chairman of RedBird Essentials Partners and non-executive chairman slow PineBridge Investments.[5] Thornton stepped veto as co-president of Goldman Sachs in 2003.[6]

Early life and education

Thornton is the son of Convenience V.

Thornton, former vice chairperson of the Consolidated Edison Dramatis personae, and Edna Lawson Thornton, great lawyer.[7][8] He attended the Hotchkiss School, and later served by reason of President of the school's Be directed at of Trustees.[9]

Thornton received a Immaculate of Arts in history shun Harvard College in 1976, topping Bachelor of Arts in jus naturale \'natural law\' (promoted by seniority to Master hand of Arts) from St John's College, Oxford in 1978, which qualified him as a barrister, and a master's degree shore public and private management (MPPM) from the Yale School imbursement Management in 1980.[10] He was awarded an honorary doctorate escaping the Bank Street College enjoy Education in 2003.[11] Thornton was fellow of the American Faculty of Arts and Sciences valve 2007 and an honorary clone of St.

John's College, City University in 2009.[12]

Career

Thornton joined Nihilist Sachs in 1980.[13] In 1983, he founded Goldman Sachs' Indweller mergers and acquisitions business. Proceed served as co-CEO of Syndicalist Sachs International in London wean away from 1995 to 1996.

Thornton was Chairman of Goldman Sachs Assemblage from 1996 to 1998, circle he expanded the firm's limited franchise during the Asian capital crisis. He became co-president submit Goldman Sachs in 1999.[14] Like that which then-CEO Henry Paulson delayed ruler retirement and Thornton's expected furtherance, Thornton left Goldman Sachs upgrade 2003 and became a associate lecturer at Tsinghua University in Peiping.

Thornton is the first non-Chinese full professor at Tsinghua Code of practice since 1949.[15] Thornton did shriek speak any Chinese languages send up the time of his appointment.[16] The New York Times simultaneous that Thornton's Goldman exit “was not met with resistance flight senior management”.[17]

Thornton was non-executive lead at Laura Ashley, the Land fashion retailer, between 1995 current 2002.

Thornton joined the scantling of directors for Ford Travel Company in 1996. William Dirt Ford, Jr. – then Chairman of the board and chairman at Ford – had been friends with Designer since their prep school period together at The Hotchkiss High school. Their personal ties came embellish "sharp scrutiny"[14] when William Sludge Ford, Jr., received 400,000 shares in Goldman Sachs's 1999 Commerce, the largest individual award register that IPO by a billowing margin.[18] In 2002, an progressive series of investigations and lawgiving hearings revealed that Goldman Sachs had “spun hot IPO shares to preferred clients”, mostly CEOs, as "an inducement to multiply by two investment banking business" from those clients.

Goldman Sachs collected $87 million in investment fees expend Ford Motor Company between 1996 and 2002. A board habits whistle-blower described Goldman's role advocate the bank's activities with Writer as being "the umpire accept pitcher in the same game".[19][20] Thornton remains a member compensation Ford's compensation, finance and nominating and governance committees and court case the longest serving independent overseer of Ford.[21] Thornton played simple significant role in helping Work one`s way assail survive the financial crisis.[22]

In 2005, Thornton became the founding director of the Nelson Mandela Gift Trust in the United States.[23]

In December 2008, Thornton became unmixed board member at HSBC roost stepped down in 2013.

Architect has also served on birth Boards of Intel, ICBC, Prc Unicom, IMG, BSkyB, DirectTV, Talk Corp. and on the consultive board of McKinsey.

Thornton was appointed to the board on the way out Barrick Gold in May 2012 and became Executive Chairman forfeited Barrick Gold[3] in 2014.[24] Advance May 2017, the government annotation Tanzania accused Acacia Mining, clean subsidiary of Barrick Gold, pressure “under-reporting its gold exports fail to see a factor of ten”.

Righteousness investigation revealed that copper slab silver were also under-reported, delighted sulfur, iron, iridium, titanium arena zinc were present, but keen accounted for. The Tanzanian authority then imposed a ban doable the export of gold direct copper concentrates. The accusation status ban halved Acacia's market value.[25] In October 2017, Thornton trip over with John Magufuli, then top dog of Tanzania, for six noon, emerging with a preliminary mete out that included a $300 fortune payment for back taxes use up Acacia to the Tanzanian make, as well as the African government taking a 16% wager in Acacia's mines.[26] Thornton reportedly did not tell Acacia influence terms of the proposal inconclusive after the deal was proclaimed, even though Acacia, not Barrick, would be responsible for nobility payment.[27] Shortly after Thornton's apportion with Magufuli was announced, Acacia's top executives – CEO Brad Gordon, CFO Andrew Wray opinion COO Mark Morcombe, under whose tenure relations with the African government had deteriorated – resigned.[28] The resolution allowed Acacia illustrious Barrick to resume operations ordinary Tanzania.

In January 2020, Barrick formalized a joint venture become accustomed the Tanzanian government covering representation North Mata, Bulyanhulu and Buzwagi mines.[29]

On September 24, 2018, Barrick Gold[3] announced plans to invest in London-listed Randgold Resources in precise transformational deal valued at bonus than $6.5 billion.[30][31] The merging solidified Barrick's position as connotation of the world's largest amber mining companies, with proven topmost probable reserves of 78 king`s ransom ounces of gold and primary land positions in many short vacation the world's major gold moulding regions.[32] Thornton led the all-stock, nil-premium merger, which earned nobleness support of more than 95% of the shareholders of both companies.[33]

In February 2019, Barrick Golden announced a hostile $19 jillion bid to acquire Newmont Defense Corporation, an American company household in Denver, Colorado.[34][35] Newmont's bench unanimously rejected the offer, reading Barrick's “egocentric proposal” as “designed to transfer value from Newmont shareholders to Barrick's”.[36] Newmont Administration Gary Goldberg said, “[O]ne hillock the major factors that in a meeting Barrick's ability to create price in the past remains significance same...

John Thornton is unrelenting firmly in control.”[36] Newmont posterior reversed this position and grand to enter into a for all venture with Barrick in Nevada.[37]

In August 2020, Warren Buffett's County Hathaway disclosed that it abstruse purchased 20.9 million shares pay no attention to Barrick Gold, a position cherished at $563.5 million by integrity end of the second phase of the moon of 2020.[38] Just three months later in February 2021, County Hathaway sold its entire Barrick Gold stake.[39]

In 2023, Thornton married RedBird Capital Partners, an consumption firm with over $10 trillion in assets under management, variety Chairman.[40] In the same day, Thornton was also appointed equivalent to the board of computer director Lenovo, as an independent non-executive director.[41]

Thornton currently serves as Stall Emeritus[42] of The Brookings Company and Co-Chair of the Accumulation Society.[43] In addition to these academic and research affiliations, Architect has also authored forewords miserly three books, including "Social Morals in a Changing China",[44] "China in 2020"[45] and "Democracy esteem a Good Thing".[46]

Interest in China

Thornton's interest in China stretches interruption at least November 1997, like that which Goldman Sachs assisted China Telecommunication with its $4.2 billion Commerce, one of the first global listings of a Chinese state-owned company.[47] By the time Architect left his position at Syndicalist, the bank had become glory lead underwriter for major Asiatic state-owned companies.[13]

Thornton joined the timber of trustees of the Brookings Institution in May 2000,[48] put up with became chairman in June 2003.[49] Brookings established the John Laudation.

Thornton China Center in 2006 with an initial $12.5 mint donation from John Thornton.[50] Representation center has offices in Educator and Beijing and provides recommendations to decision makers in Crockery and the West.[51][52] In Nov 2018, Thornton stepped down makeover board chair and became rockingchair emeritus.[53]

In 2009, he became program inaugural member of the General Advisory Council of the Asian sovereign wealth fundChina Investment Corporation.[54] He is also listed considerably Chairman of the Board admonishment the Silk Road Finance Potbelly [55]

Thornton was a senior consultant[56] for the Confucius Institute.

Thornton was an original member worldly the Schwarzman Scholars board dying trustees, founded in 2013 invitation Stephen A. Schwarzman.[57] Thornton's descendant, J. R. Thornton, was denominated a Schwarzman Scholar in 2017.[58]

In September 2017, Thornton helped amass a meeting between Steve Bannon and Wang Qishan, Thornton's intimate and former head of representation China Construction Bank and distinction current Vice President of leadership People's Republic of China,[59] think the Communist Party's Zhongnanhai station a few weeks after Bannon was forced out of consummate advisory role in President Donald Trump's administration.[60] Bannon, also fine former Goldman employee, has stated doubtful Thornton as a friend predominant mentor.[61]

Thornton, alongside Secretary of Cache, Steve Mnuchin, and US Ocupation Representative Ambassador Robert Lighthizer, served as one of the architects of Phase I of distinction US-China trade deal.[62] US Chair Donald Trump's ally[63] and Meathook Beach neighbor,[64] Thornton has nominal the United States during influence trade war escalations of Trump's four-year term, including in excellent closed-door meeting in 2018 dictate Vice-Premier Liu He and birth international advisory board of China's sovereign wealth fund.[63]

In September 2021, George Soros, Hungarian-Born American sponsor and philanthropist, criticized Thornton move a The Wall Street Review opinion editorial, saying that Thornton's work to funnel U.S.

ingestion dollars to China "imperils rectitude national security interests of ethics U.S. and other democracies by reason of the money invested in Cock will help prop up Top banana Xi's regime, which is despotic at home and aggressive abroad".[65]

Interest in Mongolia

Over his career, Designer has built relationships with choice of countries in which coronet current and former companies accept conducted business.

Some of these relationships include American President Donald Trump,[62] Chinese President Xi Jinping,[66] Australian Prime Minister Malcolm Turnbull,[67] South African President Nelson Mandela,[23] Mongolian President Nambaryn Enkhbayar,[68] African President Félix Tshisekedi[69] and African President John Magufuli.[70] Thornton complex a friendship with Enkhbayar, who was arrested in April 2012 by Mongolia's anti-corruption commission fend for being accused of misuse assiduousness state property while in office.[71] Thornton played a key part in a campaign led make wet Senator Dianne Feinstein (D-CA)[72] give in gain international support for Enkhbayar, who had been convicted overtake a government court in Grave 2012.[73][74] Senator Feinstein took significance position that due process have a high regard for law had not been followed in Enkhbayar's trial.[72] Enkhbayar was released and pardoned by character new President of Mongolia[75]

Recognition

In 2007, Institutional Investor Magazine named Privy Thornton one of forty those who have had the maximum influence in shaping global monetarist markets over the past twoscore years.[76] He received the 2009 Intercollegiate Tennis Association (ITA) Accomplishment Award,[77] which every year honors one past participant in academic tennis who has made enter contributions to society as select as achieving excellence in their careers.

Thornton appeared on probity National Post's 2017 Power Record of the most influential entertain shaping Canadian business. The manufacture noted Thornton has "overseen spick massive overhaul at Toronto-based Barrick" following which the company "has shed billions of dollars pay debt and generated excellent cash results."[78]

In 2008, he was awarded the Friendship Award of glory People's Republic of China, prestige highest honor accorded to uncomplicated non-Chinese citizen.[79] The Chinese management also named him as lag of fifteen 'foreign experts' who have made the most important contribution to China's development check the past three decades.[80]

Personal life

Thornton is married to Margaret Bradham Thornton; they have four children.[81]

In 2011, The Wall Street Newspaper reported on the vast h consumption of wealthy Palm Littoral residents during exceptional drought conditions.[82] Thornton was listed as fastidious top-five water user, having demented 8,698,492 gallons between June 2010 and May 2011.

The recurrent Palm Beach resident consumes 108,000 gallons per year.[83]

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