Barre Seid is an American Industrialist and an electronics manufacturing mogul.
Though he has been keeping a low political profile recently, he appeared in his last federal campaign donation in 2008. Then, he participated in a campaign for a Republican running for Congress in Illinois.
News is that Barre Seid has also supported many of the Heartland Institute’s climate change denial activities and is believed to have contributed around $13 million between 2007 and 2011.
Barre Seid has made it to headlines after the news about him injecting billions into non-profits flashed on the web.
Who Is Barre Seid? Wikipedia Bio
Barre Seid is a longtime conservative donor who has completed 56 successful years with Tripp Lite.
He came to attention and made a fortune as the chairman and chief executive of an electrical device manufacturing company in Chicago, now known as Tripp Lite.
Seid, the University of Chicago alum, is generally involved in philanthropic activities and founded the Barbara and Barre Seid Foundation with his wife. He provides funding to various causes, and his choices show a particular interest in music and education. Well, as one of Chicago’s affluent people, he has engaged as the founder of Chamber Opera Chicago and even served as the producer for some years.
He appeared in the news for lending a Republican candidate for governor of Illinois nearly half a million dollars in 1990.
Why Barre Seid Donated $1.6B To Leonard Leo’s Non-Profit?
Barre Seid recently donated $1.6 billion to the non-profit called the Marble Freedom Trust, which was formed in May 2020.
The new political group was managed and controlled by activist Leonard A. Leo. What’s more, rather than merely giving cash as donations, he reportedly contributed 100 percent of the shares of Tripp Lite to Leo’s nonprofit group. Later, the company was sold to an Irish conglomerate for $1.65 billion.
This billion-dollar worth matter is handled in such a way and appears to have been structured to allow the nonprofit group and Mr. Seid to avoid paying taxes on the proceeds. The profits received from all of the proceeds from the sale in a transaction led to tax invasion.
Before, the person who injected such a hefty amount into a non-profit was an anonymous person or a little-known donor. But, after the matters unfolded, it was found that the source of the money was Barre Seid. Thus, his donations became among the largest single contributions ever made to a politically focused nonprofit.
Leonard Leo currently serves as a trustee and chairman of the Marble trust. And this has led him to have “primary authority” to make decisions regarding financial matters. In simple terms, he decides on how the money is spent, so this hefty amount of about $1.6 billion in donations is likely to be managed by Leo.
Barre Seid Family Bio And Children
Barre Seid’s wife is Barbara Landis-Seid, a prominent figure in the Chicago arts and culture scene.
According to Daily KOs, his wife, Barbara Landis Seid, is relatively a more public person than a businessman or industrialist. Talking about his partner’s profession, she serves as an artistic director of the Chamber Opera Chicago, founded by her husband.
Mrs. Seid also has involvement in the writing and directing fields. Well, she wrote, directed, and starred in a musical theater adaptation of Jane Austen’s Persuasion. Interestingly, she also sits on the advisory board of Roosevelt University.
Their children’s details have remained unexplored in the virtual platforms.