Timothy Mellon is an American businessman currently serving as Chairman of Pan Am Systems which is also known as a transport holding company. Timothy has also been named the grandchild of Andrew W. Mellon and consequently is one of the heirs to their vast bank fortune. By 2022 Tim Mellon’s wealth has been estimated to be $1 billion.
Mellon was a student at Yale University where he graduated with a degree in urban planning. His father Andrew Mellon was a Treasury Secretary who later built an enormous bank fortune for the Mellon family, which is believed as among the wealthiest of the U.S.
Timothy Mellon is married to Susan Crawford Tracy. There is no information about his spouse as well as his children.
Timothy Mellon Career
Mellon was the main finance director for Guilford Transportation Industries in 1977 which was initially a holding company. Guilford Transportation Industries is now known as GTI and began expanding in the year 1981 when they decided to acquire Maine Central Railroad. Maine Central Railroad. Then, they purchased their own Boston & Maine and Delaware & Hudson railroads.
Mellon and other investors of GTI were extremely savvy in taking advantage of key moments in the markets. In 1998, after Pan American World Airways went bankrupt, GTI chose to purchase GTI for its strong brand.
GTI was later changed to Pan Am Systems and today invests in various industries, the primary one being rail transportation. Other sectors include energy, manufacturing, and real estate.
Mellon served as a trustee for The Andrew W. Mellon Foundation for over two years. In addition to his ventures in business, Mellon is well-known in the media for the numerous donations he has made to political causes, as well as his active participation as a public commentator on the issues of the U.S.
In the past, He has made numerous contributions, including a $1.5 million contribution to the Arizona defense fund which was the most restrictive anti-immigration law of the time. He was a strong supporter of The Republic Party and made a 10 million donation in support of American First Action.
There is also an autobiography in which he has detailed his political views that is his. The book also contains a critique of the social safety net program and Obamacare. He also gave a donation of $1 million to locate what remains are of pilot Amelia Earhart and her airplane.
But, he was later involved in a dispute with the group who were assigned this responsibility, claiming the organization had cheated him out of the settlement. He has maintained his firm anti-illegal immigration stance within the U.S. and was a major advocate for the wall along our border suggested by Texas Governor Greg Abbott.
According to the documents which were available, Mellon was responsible for 98 percent of the total contributions to the $54.3 million project. While president Donald Trump was in office He was a huge advocate for Trump too, and also acknowledged certain policies Trump enacted.
Following Trump quitting the presidency, Mellon also criticized Biden for the humanitarian crisis that erupted in the border region. As per reports until the end of June 2020, Biden had amounted to approximately $30 million to Republican Political Action Committees (PACs) which are in the creating of several programs that relate to the America First Action program.
Tim Mellon’s net worth
In 2022, Timothy Mellon has an estimated net worth of $1 billion. The Mellon family’s wealth is estimated to be in the region of $12 billion, with the Mellon stake in the whole business is about one billion dollars.