A veritable prince of the realm in Korea and supremely well connected among the global elite, Lee, who has a net worth of around $8 billion, nevertheless is not widely known outside his native land. At home, Lee’s life as a single dad and the next-generation leader of Samsung makes him a boldface name. Even in Korea, however, it isn’t well understood exactly what he does. That’s partly because he has long been overshadowed by his larger-than-life father, Lee Kun-hee, chairman of the Samsung Group. ... The younger Lee’s profile is about to grow dramatically. In recent months he has made himself more visible, implicitly acknowledging that he is now the leader of the Lee clan and its business interests. The elder Lee, age 73 and Samsung’s chief for nearly 30 years, suffered a heart attack 14 months ago. He has been hospitalized ever since—at the same Samsung-owned facility where the MERS crisis began—and his condition is believed to be so grave that he cannot communicate and isn’t expected to recover. In other words, the man who built Samsung into a global powerhouse in everything from semiconductors to TVs to mobile phones has all but left the scene. And he has been succeeded—in actions, if not yet in title—by his relatively untested only son. ... A sense of healthy paranoia pervades Samsung that an insular mentality and a reliance on commodity products won’t serve it as well in the future as they have in the past. Samsung executives frequently reference the downfall of once-powerful Japanese electronics rivals such as Sony and Sharp.
Twenty years ago today, Netscape’s shares began trading. To many the initial public offering of Netscape marked the beginning of the Internet age. It was certainly the first event that signified to the world outside of Silicon Valley how big the Internet could be. Much has changed since then but much remains that same. Netscape has largely disappeared. But technology companies, after the boom and bust that followed Netscape’s deal, are hot once again. These days it’s more about apps and smart phones than the Internet that Netscape opened for so many users two decades ago. And, unlike then, many of the hottest companies of the current tech boom are opting to stay private, and put off an IPO for as long as possible, ironically following the advice of Marc Andreessen, one of Netscape’s founders. Ten years ago, Fortune compiled an oral history of Netscape and its IPO. Many of the people involved in the deal are once again key figures in the current tech boom.
Byron Trott has long been a trusted advisor to clients with names like Buffett, Walton, and Pritzker. Now the ultra-discreet financier is raising his profile by investing alongside them. ... “Not a lot usually shakes me, but I was scared to death when I walked in,” says Trott, who prepared for the meeting by reading all of Berkshire Hathaway’s annual reports. The two hit it off, and the get-to-know-each-other session, scheduled for an hour, ran to three. Before it was over, Trott had a fee-generating assignment from Buffett, who is notoriously stingy about paying investment bankers. “I did what I do with most clients for the first time,” says Trott. “I say, ‘Give me your toughest problem. What have you not been able to accomplish?’ ” ... “Let us understand you, your company, your long-term objectives, and let us help you by being a true solutions-based adviser on your side of the table, not the kind of idea-of-the-day, dialing-for-dollars banker,” he says, summarizing his approach. ... What sets Trott apart, along with his unique clientele, is his ability to sit on every side of the table. By stressing discretion, confidentiality, and patience, Trott and his colleagues repeatedly do what few other bankers can: They advise multiple parties to the same transaction—and then invest capital in some of the deals they’ve just brokered. In this fashion BDT has raised two funds, worth $8 billion, in five years and acquired stakes in companies that include Tory Burch, Peet’s Coffee, and the Pilot Flying J truck stop business. The capital comes largely from BDT’s own employees and the families in its network, who essentially are providing patient investment dollars to one another.
Since taking over in 2006 from the outsider Knight first recruited for the job, Parker has overseen a more than doubling of Nike’s sales. To outward appearances, Knight and Parker are a study in contrasts. Knight is an MBA and still an irascible presence around Nike’s Beaverton, Ore., corporate campus. Parker is a soft-spoken shoe designer, known for a thoughtful if demanding management style. ... Parker was one of Nike’s earliest recruits—he joined a design outpost in New Hampshire in 1979—and has succeeded at every task assigned to him since. ... Parker’s meticulous approach to product development, known as “design thinking,” is all the rage, thanks to the acclaim of Apple’s products under its famed designer Jony Ive. Parker remains committed to his original craft: He still noodles on two limited-run sneaker lines with famed Nike designer Tinker Hatfield, one of them with Nike spokes-icon Michael Jordan and the other with Japanese stylemaker Hiroshi Fujiwara. ... Parker equates his managerial style with being an editor, with his process focused on helping subordinates hone their ideas. He even edits himself.
Amazon’s CEO has driven his company to all-consuming growth (and even, believe it or not, profits). Today, though, as he deepens his involvement in his media and space ventures, Bezos is becoming a power beyond Amazon. It has forced him to become an even better leader. ... More has gone right for Bezos lately than perhaps at any other time during his two-decade run in the public eye. His company is expanding internationally and spreading its hydra-headed product and service offerings in unexpected new directions. Bezos, too, is evolving. Always a fierce competitor and stern taskmaster, he has begun to show another side. With the Post, he’s taken a seat at the civic-leadership table. And with his various projects Bezos is also becoming known as a visionary on topics beyond dreaming up new ways to gut the profit margins of Amazon’s many foes. ... Bezos is preternaturally consistent. He still preaches customer focus and long-term thinking. Yet of necessity, as Amazon has become massive—and as he has indulged his eclectic and time-consuming pursuits—he has become the sort of leader who empowers others.