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Charles Wyly Dies in Aspen; Impact on Anderson Ranch Speculated

Billionaire Dallas businessman and art patron Charles Wyly died in a car accident when his Porsche was T-boned by an SUV on Highway 82 in Aspen on August 7. He was 77 and maintained a ranch in Woody Creek, which borders Aspen.

Wyly built a billion-dollar empire with his brother Sam and supported Republican candidates including (the soon-to-announce presidential aspirant), Gov. Rick Perry of Texas. With his wife, Dee, he was an enormous supporter of Anderson Ranch Arts Center – reportedly to the tune of $150,000 a year. Anderson Ranch’s art auction occurred in Aspen on August 13th, after the Aspen Art Museum auction that this year reportedly brought in a blockbuster $1.7 million for the museum.

The Wylys also gave their name to an arts organization in Basalt, Wyly Community Arts Center; and Wyly purchased an independent bookstore, Explore Booksellers in Aspen in 2007, when its continued existence was threatened. Theater in Dallas was their principal philanthropic activity; their name is on a theater at the AT&T Performing Arts Center in Dallas. Charles Wyly served on Dallas theater boards for three decades.

The Aspen Times reported that the brothers were accused last year by the Securities and Exchange Commission of insider trading to the tune of $550 million. The Wylys denied the allegations but the suit is still pending.

Featured Image: 

Shana and Robert ParkeHarrison

Red Tide, 2008

Photograph, ED 3/20; part of the Anderson Ranch live auction on August 13.

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  1. Lee Mulcahy says:

    I am honored to call Charles Wyly a friend. I was having dinner at the Wyly’s several weeks before his passing. May God bless him.
    I thanked Ms. Wyly, or Dee to everyone, that evening for her family’s service to the community & that everyone loved her because she was so down to earth and did not think her doodoo did not smell. Being a Texan, she laughed.

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  2. Ana Heather says:

    Hi, Well I can correct that problem. 1st of all Wyly may have started the Foundation Art Program, but he nor his wife would have been the owner of the property/ land. Im the one who got the Anderson Ranch off the Auction List for Taxation because I run many NFP’s especially in Education at the time and was Real Estate Tax exempt else where and that’s how it was originally saved.,…2nd , I am my dads only daughter and executor of his estate, therefore, it can not be taken for any of Wyly, legal expenses or any legal case he may win or loose. Plus, I know corporate law all the way to DC so we can probably help his wife with the legal accusations and take it to a higher court for a counter law suit. Ill keep in touch, just getting back to all issues, I also had a very bad accident w Porsche almost was dead…may be related. People including managers were very angry of who the executor is and that all else was dispersed to brothers in live wills , therefore, they have no rights to any part of the estate especially STOCKS. I have a new fiancee who is an international and national stock financial expert and I already promised him he will be reorganizing everything. i personally had completed training programs in stock portfolio choices and therefore, we shall be quite busy for the next 10 yrs or so unraveling disinterested parties of the Ranch and other estates. Thank You. Ana Heather. 8082279261

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