What is Peter M. Brant's Net Worth?
Peter M. Brant is a notable American businessman, industrialist, and art collector with an impressive net worth of $800 million. Despite the substantial figure, his true wealth could be considerably higher due to his extensive art collection, featuring works from legendary artists like Andy Warhol, Jean-Michel Basquiat, and more.
Early Life and Career
Born in New York City in March 1947, Brant grew up the son of the co-founder of Brant-Allen Industries, a paper converting company. During his childhood, he was friends with Donald Trump. He began his career working for his father's company, where he managed the manufacturing aspect and eventually expanded into paper mill ownership.
Career Challenges and Bankruptcy
In the 1990s, Brant faced legal challenges that resulted in a prison sentence for tax-related issues. In 2008, he rebranded his company as White Birch Paper Company after buying out his partner. That same year, he acquired SP Newsprint Co for $305 million. However, following the financial crisis, Brant's net worth plummeted from $1.4 billion to $500 million, leading White Birch Paper to file for Chapter 11 bankruptcy.
Current Ventures and Art Collection
Despite these setbacks, Brant persevered and currently serves as the Chairman of White Birch Paper, Brant Publications, and the Brant Foundation. He is also known for his work as a film producer, contributing to films such as L'Amour, Andy Warhol's Bad, Basquiat, Pollock, and others. His art collection is especially noteworthy, featuring masterpieces by artists like Basquiat, Jeff Koons, and Warhol. His substantial acquisition of Warhol paintings in the 1970s even caused the artist himself to remark on Brant's extensive ownership.
Personal Life
In 1995, Brant married his second wife, supermodel Stephanie Seymour. The couple went through a turbulent period around 2010, entering into divorce proceedings. During this time, it was revealed that Brant spent approximately $500,000 per month on private jet travel, pet business projects, and real estate developments. He was temporarily ordered to pay Seymour $270,000 per month in support, while his monthly income was reported at $1.5 million. Ultimately, the couple reconciled and continue to maintain residences in Greenwich, Connecticut, The Hamptons, and Palm Beach, Florida.
