Lou Pai

Enron executive (born 1947)

Lou Lung Pai (Chinese: 白露龍; pinyin: Bái Lòulóng) (born June 23, 1947) is a Chinese-American businessman and former Enron executive. He was CEO of Enron subsidiaries Enron Energy Services and Enron Xcelerator, a venture capital division.2

From Wikipedia’s article on Lou Pai (this version), CC BY-SA 4.0.

Born 1946.1

About

He left Enron with over $250 million. Pai was the second-largest land owner in Colorado after he purchased the 77,500-acre (314 km2) Taylor Ranch for $23 million in 1999, though he sold the property in June 2004 for $60 million.

Pai was not charged with any criminal wrongdoing in the Enron scandal and exercised his Fifth Amendment rights in regard to the subsequent Enron class action lawsuits. As a result of the lawsuit, Pai forfeited $6 million that was due to him from Enron's insurance policy for company officers to a fund for Enron shareholders.

Accounts of the Enron scandal have frequently portrayed him as a mysterious figure; a former Enron employee, interviewed in the 2005 documentary film Enron: The Smartest Guys in the Room, referred to Pai as "the invisible CEO".

From Wikipedia’s article on Lou Pai, shared under CC BY-SA 4.0.2

Companies

Early life and education

  • Date not recordedUniversity of Maryland3

Pai was born in Nanjing, China and came to the United States at the age of two. Pai obtained both his B.S. and M.S. in economics from the University of Maryland, College Park, where his father, Shih-I Pai, was an aeronautics professor. Pai worked for the federal government, primarily at the U.S. Securities and Exchange Commission, in the 1970s before joining Enron.

From Wikipedia’s article on Lou Pai (this version), CC BY-SA 4.0.

Career

  • Date not recordedBoard member, Enron4

Personal life

  • Born1946, Nanjing5
  • CitizenshipPeople's Republic of China6
  • Children37

Pai's frequent strip club visits during his time with Enron led to an affair with a stripper Melanie Fewell (who was also married), and resulted in a pregnancy. Upon learning of the affair, Pai's then-wife of over 20 years, Lanna Lee, with whom he has two children, filed for divorce. To satisfy the financial terms of his divorce settlement, Pai cashed out approximately $250 million of his Enron stock just months before the company's stock price dramatically collapsed and it filed for bankruptcy protection. After the divorce, Pai and Fewell married.

Pai and Fewell together operated Canaan Ranch, located near metropolitan Houston, where they raised and trained dressage horses. They later moved from Sugar Land, Texas, to Middleburg, Virginia, and opened a second Canaan Ranch there, but, as of 2014, it is up for sale. More recently, Pai and his family have moved to Wellington, Florida.

From Wikipedia’s article on Lou Pai (this version), CC BY-SA 4.0.

Sources

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