Monday, April 22, 2013

Owner of Sun Valley Resort, 155th Richest in America, Dies at 86

Posted by on Mon, Apr 22, 2013 at 9:34 AM

The man who owned the Sun Valley Resort in Idaho and the Snowbasin Resort in Utah, helped organize the 2002 Salt Lake City Winter Olympics, and one of the richest men in America died April 19 in his Utah home.

Associates said 86-year-old Robert Holding, whose estimated net worth was $3.2 billion, was active in all of his business interests until only a couple of years ago.

"He was truly one of the great entrepeneurs of the West," Clint Ensign, senior vice president of the Sinclair companies told the Associated Press. "He was the all-American success story, someone who came from humble beginnings and through hard work and good management created some wonderful businesses."

Before purchasing the Idaho and Utah resorts, Holding amassed a fortune by purchasing a Wyoming refinery from Mobil Oil in 1968 and Sinclair Oil in 1976.

After purchasing the Sun Valley Resort in 1977, Holding installed dozens of miles of snow-making pipe beneath the slopes and is also credited with improving the quality of the snow-making guns that keep the ski trails robust in snow-challenged seasons.

Forbes Magazine ranked Holding as the 155th richest person in America.

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