university of phoenix apollo group

http://www.forbes.com/lists/2008/54/400list08_Peter-Sperling_RQWL.html

The 400 Richest Americans
#301 Peter Sperling
09.17.08, 6:00 PM ET


< Previous: Herbert Simon Next: John Abele >



Sort List By:
Rank
Name
Net Worth ($bil)
Age
Residence
Source
Net Worth $1.6 billion Source Apollo Group (quote: APOL), Service, Inherited and growing

Age 48
Marital Status Married, 2 children Hometown Phoenix, AZ, United States
Education University of California Santa Barbara, Bachelor of Arts / Science
University of Phoenix, Master of Business Administration



Father, John: Cambridge-educated humanities professor at San Jose U. Left academia to start for-profit University of Phoenix 1970s. Became Apollo Group; public 1994. Today enrolls more than 300,000 students in more than 100 programs for associate, bachelor's, master's degrees online or in classroom. Peter serves as senior vice president. Company faced numerous lawsuits; allegedly violated Higher Education Act by paying its recruiters based on number of students they enrolled; fined $10 million. Securities fraud: estimated $270 million damage award against company for misleading investors recently overturned.