He is the founder and chairman of The Christian Broadcasting Network (CBN) Inc., and founder of International Family Entertainment Inc., Regent University, Operation Blessing International Relief and Development Corporation, American Center for Law and Justice, The Flying Hospital, Inc. and several other organizations and broadcast entities. Robertson was the founder and co-chairman of International Family Entertainment Inc. (IFE).
Formed in 1990, IFE produced and distributed family entertainment and information programming worldwide. IFE's principal business was The Family Channel, a satellite delivered cable-television network with 63 million U.S. subscribers. IFE, a publicly held company listed on the New York Stock Exchange, was sold in 1997 to Fox Kids Worldwide, Inc. for $1.9 billion, whereupon it was renamed Fox Family Channel. Disney acquired FFC in 2001 and its name was changed again, to ABC Family.
Robertson is a global businessman with media holdings in Asia, the United Kingdom, and Africa. He struck a deal with Pittsburgh, PA-based General Nutrition Center to produce and market a weight-loss shake he created and promoted on the 700 Club TV show.
In 1999, Robertson entered into a joint venture with the Bank of Scotland to provide financial services in the United States. However, the move was met with criticism in the UK due to Robertson's views on homosexuality. After Robertson commented that Scotland was "a dark land overrun by homosexuals", the Bank of Scotland canceled the venture.
Robertson's extensive business interests have earned him a net worth estimated between $200 million and $1 billion.
A fan of Thoroughbred horse racing, Robertson paid $520,000 for a colt he named Mr. Pat. Trained by John Kimmel, Mr. Pat was not a successful runner. He was nominated for, but did not run in, the 2000 Kentucky Derby.
According to a 2 June 1999, article in The Virginian-Pilot, Robertson had extensive business dealings with Liberian president Charles Taylor. According to the article, Taylor gave Robertson the rights to mine for diamonds in Liberia's mineral-rich countryside. According to two Operation Blessing pilots who reported this incident to the state of Virginia for investigation in 1994, Robertson used his Operation Blessing planes to haul diamond-mining equipment to Robertson's mines in Liberia, despite the fact that Robertson was telling his 700 Club viewers that the planes were sending relief supplies to the victims of the genocide in Rwanda. In response to Taylor's alleged crimes against humanity the United States Congress passed a bill In November 2003 that offered two million dollars for his capture. Robertson accused President Bush of "undermining a Christian, Baptist president to bring in Muslim rebels to take over the country." At the time Taylor was harboring Al Qaeda operatives who were funding their operations through the illegal diamond trade.[1
· 10 years ago