Age, Biography and Wiki

Barry O'Callaghan was born on 1969 in Mitchelstown, County Cork, Ireland, is a Former. Discover Barry O'Callaghan's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is He in this year and how He spends money? Also learn how He earned most of networth at the age of 54 years old?

Popular As N/A
Occupation CEO of Rise Global
Age 54 years old
Zodiac Sign
Born 1969, 1969
Birthday 1969
Birthplace Mitchelstown, County Cork, Ireland
Nationality Ireland

We recommend you to check the complete list of Famous People born on 1969. He is a member of famous Former with the age 54 years old group.

Barry O'Callaghan Height, Weight & Measurements

At 54 years old, Barry O'Callaghan height not available right now. We will update Barry O'Callaghan's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Physical Status
Height Not Available
Weight Not Available
Body Measurements Not Available
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Hair Color Not Available

Dating & Relationship status

He is currently single. He is not dating anyone. We don't have much information about He's past relationship and any previous engaged. According to our Database, He has no children.

Family
Parents Not Available
Wife Not Available
Sibling Not Available
Children Not Available

Barry O'Callaghan Net Worth

His net worth has been growing significantly in 2022-2023. So, how much is Barry O'Callaghan worth at the age of 54 years old? Barry O'Callaghan’s income source is mostly from being a successful Former. He is from Ireland. We have estimated Barry O'Callaghan's net worth , money, salary, income, and assets.

Net Worth in 2023 $1 Million - $5 Million
Salary in 2023 Under Review
Net Worth in 2022 Pending
Salary in 2022 Under Review
House Not Available
Cars Not Available
Source of Income Former

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Timeline

2016

Barry also has a controlling interest in Patheos, a spirituality website, Beanstalk Innovation, an online education consultancy in Massachusetts, and the Cliff Hotel Collection in Ireland. He owns the Cliff House hotel and Cliff Townhouse restaurant and guesthouse in Ireland. In 2016 he bought a popular wedding venue, Village at Lyons, for €6 million in 2016.

2013

After the EMPG fallout, O'Callaghan continued to serve as chairman for EMPGi, an international division of EMPG focused on Asia. According to O'Callaghan, he was brokering deals with US states, Panama, Qatar and the Arab Emirates for digital education products. He also facilitated several acquisitions for EMPGi, particularly in China. In 2013, Rise Global purchased the Chinese business of Houghton Mifflin and O'Callaghan became CEO of Rise Global, which teaches English to people in Asia, the Middle East and elsewhere. He personally owns exclusive rights to some of HMH's educational materials for teaching the English language. Barry sold the Chinese business for 14 times its annual profit. He said it was sold due to Chinese laws restricting foreigners from owning educational assets in China.

2009

O'Callaghan refinanced the company in 2009, reducing its debt by $1 billion. He tried to sell the Houghton Mifflin business, but turned down the offers he got as being too low. In 2010, bondholders that Riverdeep was indebted to converted their debts into equity in the company, and took control of the business in order to avoid bankruptcy. This almost completely eliminated the interests of shareholders, including O'Callaghan, whose shares were used as collateral for most of the loans. He went from being seventh place in the Sunday Times list of richest people, to the 21st. He had $1.2 billion in assets in 2008 and 348 million by the end of 2009, as his 22% stake in the company was almost completely eliminated. O'Callaghan continued to serve as CEO until resigning from that position in 2011 and serving as an advisor for an additional year. During this time, the company was restructured, reducing its debt by another $4 billion.

2008

According to O'Callaghan, the company was doing well until August 2008. That year the great recession caused US states, and California in particular, to cut spending on textbooks from EMPG. As education budgets were cut, the company was forced to re-negotiate with bondholders. It owed $700 million per year in interest payments for the loan-funded acquisitions. The Houghton Miffin brand also fell out of favor with many in the literary community after discontinuing some of its contracts with writers. O'Callaghan became Chief Executive Officer of Houghton Mifflin Harcourt in April 2009, after the prior CEO retired.

2006

O'Callaghan and company founder Pat McDonagh bought the shares of venture capitalists; then O'Callaghan bought McDonagh's portion in 2006, giving O'Callaghan a 59.4 percent share of the company. Ernst & Young "abruptly" left as the company's accounting auditors that year, saying the company made "incorrect representations" about "a material contract," an allegation O'Callaghan denied. O'Callaghan used low-interest loans to fund acquisitions of traditional print publishers. At first he led the acquisition of smaller publishers, before buying Houghton Mifflin and Reed Elsevier's US school business, which were bought for $1.75 billion and $4 billion in 2006 and 2007 respectively. He merged Riverdeep with Houghton Mifflin in 2006 to create the Education Media and Publishing Group (EMPG), before acquiring Harcourt Education in America from Reed Elsevier. O'Callaghan owned about one-third of the company and is estimated to have had 1.5 billion euro in assets after both acquisitions. He was the largest investor in the company. The acquisitions made EMPG the largest educational publisher in the US market, but it became laden with debt from loans made to fund the acquisitions.

2003

In response to Rocker's criticisms and improving financials, but a declining share price as the tech bubble declined, O'Callaghan and others took the company private, through a management buyout in 2003. The buyout was controversial. Investors accused O'Callaghan of opportunistically buying the company at a low share-price and O'Callaghan responded by offering to withdraw his buyout if anyone was willing to pay ten percent more. The buyout brought O'Callaghan's interest in the company to 21 percent. From 2003 to 2004, he "streamlined" the company, negotiated 300 million euro in bonds and worked to expand into international markets, like the United Kingdom and Saudi Arabia.

2000

O'Callaghan took Riverdeep through an initial public offering on Nasdaq in 2000, during the height of the dot-com bubble. Initially it received a $2 billion valuation after having tripled in share price over a few days of trading. O'Callaghan's seven percent interest in the company became worth $126 million. The company's revenue and profits was steadily improving, but as the tech-bubble waned, the stock price dropped to one-third of its initial share price. The Sunday Business Post said Riverdeep's time as a public company was difficult, in particular due to criticisms from activist investor David Rocker, who accused Riverdeep of shady accounting practices.

1997

After getting a degree in law, Barry O'Callaghan got a job at investment bank Morgan Stanley, where he "quickly prospered" working in mergers & acquisitions. He worked in the London office, then later in the Hong Kong office, before moving to New York City to work at Salomon Smith Barney near the beginning of the dot-com bubble. In 1997 O'Callaghan got a senior job the telecommunications and technology division of investment bank Credit Suisse First Boston. There he helped internet companies prepare to go public. O'Callaghan quit Credit Suisse First Boston in 1999 to become the Chief Executive Officer of the digital publishing startup, Riverdeep, in order to take the company public.

1969

Barry O'Callaghan (born 1969) is a business executive and financier. Currently he is the Chairman and CEO of Rise Global. He formerly led Riverdeep for a decade, later known as EMPG and HMH. He grew the small educational software company into the largest K-12 publishing company in the American education system through a series of acquisitions that were funded by loans. As a result of cuts in school textbook purchases, excessive debt, and the end of the dot-com bubble, the company was taken over by bondholders in 2011. This almost wiped out the interests of shareholders and O'Callaghan's own fortune. After the fallout, he became CEO and partial owner of the international division, EMPGi.

Barry O'Callaghan was born in 1969 in Mitchelstown, County Cork, Ireland. His father was a doctor. O'Callaghan was educated at Clongowes Wood College, a Jesuit secondary boarding school. He was captain of the school's senior cup rugby team and later he played rugby for Trinity College Dublin, where he studied law in the late 1980s. According to O'Callaghan, after graduating he no longer wanted to pursue a career in law.