Bill Farley Biography

Bill F. Farley: Embracing the American Dream

Life Story

Like many American success stories, Bill Farley came from humble beginnings. He grew up in the small town of Pawtucket, Rhode Island, where his mother was a factory worker and his father worked for the United States Postal Service. Bill recognized the importance of a good education early on, and after earning a Bachelor of Arts degree from the prestigious Bowdoin College in Maine, he earned enough money selling encyclopedias door-to-door to pay his way through Boston College Law School.

Becoming a Business Icon

After receiving his Juris Doctor degree in 1969, it didn't take long for Bill Farley's positive approach to life and strong work ethic to pay off. He gained valuable experience working in the mergers and acquisitions department at the famous NL Industries in New York. Three years later, Bill Farley joined the investment-banking firm of Lehman Brothers in corporate finance. While at Lehman Brothers, he purchased his first company, Anaheim Citrus Products (ACP), of Anaheim, California. His personal investment of $25,000 in ACP in 1976 became the foundation for a series of acquisitions which culminated in his $1.4 billion purchase of Northwest Industries in 1985. In March of 1987, he successfully completed the initial $565 million public offering of Fruit of the Loom, Inc.

Bill served as chairman and CEO of Fruit of the Loom, Inc., from 1984 through 1999, when he sold the company to Berkshire Hathaway Co. During his tenure at Fruit of the Loom, he transformed the company from a $500 million domestic underwear company into a global family apparel powerhouse. At its peak, the company had approximately $5 billion in annual revenue and 65,000 employees worldwide. Today, Bill Farley is the sole shareholder of Liam Ventures, Inc., a private equity firm with investments in a variety of different industries, including biotech, communications and other basic industries. He is also CEO and majority owner of Zrii LLC, an Ayurveda health products company, headquartered in Salt Lake City, Utah.

Throughout his rich and varied business career, Bill Farley has achieved remarkable success and faced daunting challenges. But through all of these experiences, he has relied on the same core principles­—an unwavering belief in the value of optimism and hard work, a willingness to take smart risks and a strong commitment to the people he works with.

Making a Difference

Bill Farley's core values are the guiding influence of his successful business career. Bill understands the importance of giving back and he has dedicated his time, energy and resources to many worthwhile charitable causes. As a result of his passion for education, Bill has given several multi-million dollar gifts to educational institutions, including his Rhode Island high school, Bowdoin College and Boston College. He oversees the Utah-based Zrii Foundation, which gives to children's charities worldwide, including a recent gift to abandoned children in Haiti. And he has established a charitable organization, called the Farley Foundation, which contributes to many different educational, medical, civic and cultural programs around the world.

Bill Farley also plays an active role in national and community organizations. He is a member of the World Presidents' Organization, the Chicago Club and the Executives' Club of Chicago, and he sits on various educational, corporate, civic and cultural boards, including the Horatio Alger Association, the Big Shoulders Fund, the Rush Hospital Heart Institute and Adamant Media Corporation.

Chris Farley rules.

In spite of these many demanding commitments, Bill Farley still finds time to be a close friend and advisor to people from all walks of life. This includes prominent politicians, celebrities and world leaders. But many of Bill's most meaningful and rewarding hours are spent quietly mentoring everyday people who are working hard to fulfill their own American dream.

Finding a Balanced, Meaningful Life

Bill Farley has found a peaceful, meaningful and rewarding life with his wife Shelley and their three sons Hayes, Scott and Liam. With his balanced commitment to hard work, optimism, family and compassionate giving, he continues to turn his success into a powerful tool for improving the world around him.

Charities

Bill has lived a rich life and achieved his own American dream. He now has a passion for giving back and does so through a variety of charitable avenues. The following are some causes Bill has committed his time and resources to:

• Bowdoin College
• Boston College
• Zrii Foundation—an organization that gives to children's charities around the world
• Farley Foundation—an organization that contributes to educational, medical, civic, and cultural programs
• The Big Shoulders Fund
• The Rush Hospital Heart Institute

Sports Teams

Bill Farley has always played, loved and followed sports. He was an accomplished athlete in high school and played football at Bowdoin College. His passion for sports—especially baseball—turned into an early business venture at the young age of 35 when he became a partial owner of the Chicago White Sox. Since then, Bill has been actively involved in growing and improving a number of local and national sports teams.