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Allen E. Paulson

Allen E. Paulson
Born 22, 1922(1922-Template:MONTHNUMBER-22)
Clinton, Iowa
United States
Died 19, 2000
La Jolla, California
Resting place Forest Lawn Memorial Park, Glendale, California.
Occupation Businessman:
Aircraft manufacturing
Racehorse owner/breeder
Philanthropist
Spouse(s) Irene, Mary Lou, Madeleine
Children Richard, Robert, James, Michael


Honors
Aviation:
James H. Doolittle Award (1982)
Wright Brothers Memorial Trophy (1987)
Harmon Trophy (1987)
Howard Hughes Memorial Award (1988)
Award for Meritorious Service to Aviation (1994)

Thoroughbred racing:
Eclipse Award for Outstanding Breeder (1993)
Eclipse Award for Outstanding Owner (1995, 1996)
Eclipse Award of Merit (1996)

Allen Eugene Paulson (April 22, 1922 - July 19, 2000) was an American businessman, philanthropist, thoroughbred racehorse breeder and owner, and a self-made multi-millionaire.

Contents

Business career in aviation

Born in Clinton, Iowa, Allen E. Paulson was on his own at age 13, supporting himself selling newspapers and doing janitorial work at local hotel until he moved to California in 1937. There, he worked on a dairy farm to pay his way through school. After finishing high school, he moved to West Virginia where he worked at two jobs while studying engineering. Paulson served in the Army Air Corps during World War II. When the war ended, he pursued a career as a test pilot and commercial pilot for Trans World Airlines and went on to run his own aviation businesses, the best known of which is Gulfstream Aerospace Corporation, a business-jet manufacturer created through the 1978 acquisition of a Grumman Aircraft Engineering Corporation subsidiary that he merged with two other small-aircraft manufacturers to form his Gulfstream company headquartered in Savannah, Georgia. In 1985, Paulson sold the company to the Chrysler Corporation and although he continued to run it for the new owners, a few years later he teamed up with Ted Forstmann and his associates to buy the company back.

In 1990, Paulson and a Gulfstream flight crew set 35 international records for around-the-world flight in a Gulfstream IV aircraft. In 1987 he won the Harmon Trophy as the world's outstanding aviator and in 1992 was inducted into the Georgia Aviation Hall of Fame. Allen E. Paulson received numerous other awards during his lifetime including five honorary doctorates and the Award for Meritorious Service to Aviation by the National Business Aviation Association, Inc.

In the early 1990s, Paulson bought many automotive dealerships in Beverly Hills, California, where he resided. He bought the Ford, Cadillac, Lincoln-Mercury and Rolls-Royce franchises in the area and opened the Lexus dealer in Beverly Hills, which were managed by his three sons. Since then, the Rolls-Royce and Lexus dealerships have been sold, and the other dealers closed.[citation needed]

Thoroughbred horse racing

In 1980 Allen Paulson got involved in the sport of thoroughbred horse racing. He eventually became a significant force in racing in North America and in France. A major breeder, he operated a horse farm in Florida and Brookside Farms in Versailles, Kentucky.

His first American Champion in racing was Estrapade, the 1986 Eclipse Award winner as American Champion Female Turf Horse. He owned Arazi, the 1991 European Horse of the Year for whom Sheikh Mohammed paid him $9 miilion for a half interest. He also owned the Champion filly Azeri, although he did not live to see her compete. Paulson's most famous American horse was U.S. Racing Hall of Fame inductee, Cigar, a darling of race fans and the media alike who captured the Breeders' Cup Classic, the first Dubai World Cup, and was voted Eclipse Award as American Horse of the Year in 1995 and 1996 while winning a record 16 straight races.

Allen Paulson owned more than 115 winners of graded stakes races. His horses won a record eight Breeders' Cup races and earned him more Breeders' Cup purse money than any other stable owner. He was voted the American Eclipse Award for Outstanding Owner in 1995 and 1996, the 1993 Eclipse Award for Outstanding Breeder, and the American Thoroughbred horse racing industry's highest honor, the Eclipse Award of Merit.

In 1988 he married for a third time. Madeleine Paulson also owned horses and raced successfully, notably winning the 1992 Breeders' Cup Turf with Fraise.

Notable horses bred and/or raced by Allen Paulson include:

  • Blushing John (b. 1985) - won Grade 1 races in France and the United States

Thoroughbreds purchased for breeding purposes:

Philanthropy

A supporter of the Georgia Southern University, his company created the "Gulfstream Scholarships" in engineering technology and as a major benefactor, the University named the "Allen E. Paulson College of Science and Technology" in his honor as well as the Allen E. Paulson Stadium.

Allen E. Paulson died in 2000 in hospital near La Jolla, California from cancer at age 78. He is interred at the Forest Lawn Memorial Park in Glendale, California.

References



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