Walter Scott Jr. Net WorthReal Name: Walter Scott Jr.
Date of Birth: 1931
Place of Birth: Omaha, Nebraska
2017 Net Worth: $3.6 Billion
Profession: Chairman of Level 3 Communications
Walter Scott Jr. Biography
Walter Scott, Jr. was born in Omaha, Nebraska in 1931. He attended Colorado State University in 1953, where he graduated with a bachelor’s degree in civil engineering. Out of college, he took a job with his father’s employer, Kiewit Construction. Scott was elected to the board in 1964 and in 1979, when Peter Kiewit passed away; Scott was chosen to replace him as chairman.
Scott is a longtime friend of Warren Buffett. In fact, Scott would be the richest man in Nebraska was it not for his good friend. In 1998, Kiewit split into two different operating divisions. Scott took over as chairman of Level 3 Communications, one of the firms created by this split. He has served as chairman for 50 years and in 2014, decided not to run for chairman again. He is retired as of 2015, but still serves on the board of Berkshire Hathaway as well as Commonwealth Telephone Enterprises. He also chairs the board of Open World Leadership Center at the library of Congress. Scott has donated $65 million of his stock in Level 3 to the Suzanne and Walter Scott Foundation, which he founded with his late wife. The majority of Scott’s wealth comes from his ownership of MidAmerican Energy, which is a gas and electric utility that he purchased from Berkshire Hathaway in 2000.
Scott was asked by his friend Buffett to join him in the Giving Pledge in 2010. This would mean that Scott would give away at least half of his fortune. Scott partially accepted stating that after he passed away, his remaining estate would go to the foundation that he and his wife created. Scott gave $10 million to the construction of a 122,000 square foot building which will house interdisciplinary energy, environment, and health programs at his alma mater, Colorado State University. Scott has a current net worth of $3.6 billion.