Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

#265 Katharine Rayner $5.98B

Random fact: Grandfather was 1920 Democratic Party nominee for president.

Overview

Rayner owns 16 percent of Cox Enterprises, a closely held media and automotive services conglomerate. The Atlanta-based business controls the third-biggest cable operator in the U.S., which serves about 6 million homes and businesses. The group had sales of $20.1 billion in 2016 and employs about 60,000 people.

As of July 21, 2017:
Last change +$66.9M (+1.1%)
YTD change +$219M (+3.8%)
Industry Media & Telecom
Biggest asset Cox Communications
Citizenship United States
Age 72
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Katharine Rayner's net worth of $5.98B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Rayner owns 16 percent of Cox Enterprises, a closely held media conglomerate. She received the stake in December 2013 after her mother, Anne Cox Chambers, dissolved a trust that held 49.4 percent of Cox. Ownership is based on court documents and Cox's disclosure to Bloomberg that internal transactions resulted in equal stakes among the two owner families.

Cox Enterprises has three units: Cox Communications, Cox Media Group and Cox Automotive. Cable company Cox Communications is the third-largest cable operator in the U.S., according to the company's website. It had revenue of $11 billion in 2016, according to the website, and debt of $9.2 billion as of May 2017, according to data compiled by Bloomberg. The company wouldn't comment on its debt. It's valued using the average enterprise value-to-Ebitda multiple of four publicly traded peer companies: Comcast, Verizon, Scripps Networks, and Rogers Communications.

Cox Media Group operates six daily newspapers, 14 television stations and more than 60 radio stations, among other assets, and had revenue of $1.8 billion in 2016, according to its website. Its valuation is based on the average enterprise value-to-Ebitda multiple of five publicly traded peers: EW Scripps, New York Times, Gannett, McClatchy and Sinclair Broadcast and discounted by 15 percent.

Cox Automotive is a provider of car sales software technology. It had revenue of $7.3 billion in 2016, according to its website. Cox Automotive is valued on the average enterprise value-to-Ebitda multiples of KAR Auction Services, CarMax and Penske Automotive.

Kennedy's 25 percent share of corporate-level debt is included as a liability.

Biography

Birthdate: 1/12/1945
Family: Married, No children

Katharine Rayner is the granddaughter of James M. Cox, who built a U.S. newspaper chain after buying the Dayton Evening News in 1898. He became a politician, serving first as an Ohio state representative, then as governor. He ran for the U.S. presidency as a Democrat in 1920, losing to fellow newspaper publisher Warren G. Harding. He gave each of his daughters, Anne and Barbara, 49.4 percent of the company. Rayner, born in 1945, is one of Anne's three children and inherited her stake in 2013 when Anne distributed her Cox shares to her three heirs.

Today, Cox Enterprises is run by Rayner's cousin, James Kennedy. The company operates dozens of periodicals, TV stations and radio stations, as well as one of the largest cable systems in the U.S. and multiple auto sales online marketing ands software divisions.

Rayner is married to William Rayner, a retired Conde Nast executive and painter. The couple don't have any children, according to documents detailing the extended Cox family tree submitted to the court as part of her mother's petition to distribute her company shares.

Milestones
  • 1898 James M. Cox buys a Dayton, Ohio, newspaper for $26,000.
  • 1919 Her mother Anne Beau Cox Chambers is born in Dayton, Ohio.
  • 1920 Grandfather James Cox runs as Democratic nominee for president.
  • 1945 Katharine Rayner is born.
  • 1995 Company spins off Cox Communications into a publicly traded subsidiary.
  • 2004 Family takes Cox Communications private.
  • 2013 Anne Chambers distributes stake in Cox Enterprises to Katharine and others.
  • 2014 Cox Enterprises revenue exceeds $17 billion.