You only put your minimum, five years and gone. It caused, for me, a redoubling of my dedication to the Academy. Yeah, yeah. Tell me how you experienced that. Viola later withdrew, however, citing business conflicts. Well, I stood in the Reserves. Thats a great point. Net Worth: $2.8 Billion. You have an affirmative duty, if you see. Viola and other pre-IPO insiders continue to directly own units of Virtu LLC that are economically equivalent to Class A shares. Well, and I remember my one buddy, who did go to collegetwo or three of us went to collegedescribing to me frat parties, you know. Now, Im sort of casting that, but I remember as a young cadet on a Saturday morning, more than one time having a math professor when we were cadets, Im saying it againwhen I was a cadet, when we were cadets, we attended class six days a weekSaturday til twelve oclock or something, maybe even laterone oclock maybe. If I remember correctly, when I was a cadet, everyone had to study fluid mechanics, solid mechanics, electrical engineeringthese were the sort of core engineering sciences that everyone had to take, as I rememberlong time ago. And remember, from the first day youre here, you understand what singularity isyou understand what singularity is. Mr. Viola is one of the nation's foremost leaders in electronic trading. Market-maker Virtu completed a series of. Its an internally generated strength. FloridaPanthers.com is the official Web site of the Florida Panthers. So the cheating happened in their Firstie Year? It was a combination of hearthe had congenital heart disease that went undiagnosed, and just was rendered incapable. I dont have objective evidence. The mansion has bounced on and off the market since 2013. He owns valuable New York real estate: Viola owns a 20,000-square-foot townhouse on the Upper East Side of Manhattan, near Central Park. In 1988, he founded The Independent Bank Group, a Texas-based regional bank which is listed on NASDAQ (IBTX). So for more than one invasion, he was in the middle of the landing and in the middle of the action. And my dad said to me, Before I pass, I want to go to the village. And so in April of 1980, we went to this villageI had never been therewhere my dad was born. He was an astute businessman and an extreme opportunist. Lets come back to the time here at West Point during this period. My dad used to always say, Freedom isnt free. Guess that was justthats kind of a little bit of background. He was for several weeks President Donald Trump 's nominee for United States Secretary of the Army, before withdrawing from consideration. In 2008, Viola founded Virtu Financial, active in electronic market making. Vincent Viola was born August 13, 1933 in Brooklyn, NY. And in fact, I remember some of my cadet summers actually working to make money to give to my family. And the cadets that were here had gone through a traumatic experience, because the class of 74 entered in the, I guess, summer of 70. Integrity honestyattempting to become an ever-improving subject matter expert. E. 69th St. for the slashed price of $59 million, according to property records and sources. People, soldiers dont judge other soldiers. He was for several weeks President Donald Trump's nominee for United States Secretary of the Army, before withdrawing from consideration. In the book, Lou Guttman, the previous chairman at the New York Mercantile Exchange, said Viola "exuded leadership. at Columbia Law School. Well, these drill rolls actually existed, and they were physical lists on paper, and these cadets, many cadets would sit down and just put checks down next to peoples names if they even thought they mightve ever cheated. In fact, my first company commander is a very, very successful soldier, the class of 1975, Lieutenant General Benjamin Freakley. Ms. Viola also recently sold a home in Brooklyn Heights for $25.5 million, setting a price record for a townhouse sale in the borough, records show. It was much the same as it is now and probably was for many years before: a very concentrated, specific social culture that was extremely singular in purpose. And I got absolutely no responses, and it was a pretty tough periodit was still a deep recession. I had to actually leave Fort Campbell, and I took a compassionate reassignment to Fort Hamilton in New York Cityactually, Fort Dix, and I got assigned to Fort Hamilton. 2017. My company was very unique, and Im sure there were others like thisI dont have statistics on thisbut we were what you called a sort of gray company. The Delaware attorneys for both sides Jeffrey Gorris for the pension fund and Matthew Stachel for Virtu declined to comment. So as would follow, the qualifications of my class were not as high as classes before and classes after. Vincent J. Viola is the Chairman, Owner and Governor of Sunrise Sports & Entertainment and the National Hockey League's Florida Panthers, as well as Chairman of the Florida Panthers Foundation. I think you teach leadership by living leadership. We have a responsibility to address this direct public health threat that impacts the populations we serve as well as those who use our facilities. At a peak. And I remember as a young man saying, Thats his life. You transform to depths that youre not aware of. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); If you believe in the value of watchdog journalism please make your tax-deductible contribution today. Vincent Viola grew up in Brooklyn, graduated from West Point, is a former chairman of the New York Mercantile Exchange and after the Sept. 11 attacks founded a center devoted to combating terrorism. If you believe that you cannot effectivelyeffectively, comprehensively, lead more than four persons other than yourself on a physical day-to-day level, then everything you ever wanted to know about anything, youve learned in platoon leadership. An entrepreneur, philanthropist, and veteran of the United States Army, Mr. Viola is a Brooklyn, N.Y. native and graduate of both the U.S. Military Academy at West Point and New York Law School. Mr. Viola, 62, bought the property on East 69th Street and Fifth Avenue in 2005 for $20 million, according to PropertyShark records. And about five minutes into the gathering, I see these adult men crying and grabbing my dad, and lo and behold they had remembered how they were starving, and how in the war he brought them a truckload of food, and actually stood with them for two days, as I remember now. [22][23][24] Viola founded a technology company, Rowan Technology Solutions, to support cadet education in the areas of military history, military science, and leadership. In 2019, the company repurchased more than $500 million in company stock from Viola. All Rights Reserved. Cause she wanted you to have another skill. I remained a reserve officer for the next 13 years, and I always stoodI try to remain current as far as my officership, and in contact with classmates and other soldiers. Enter Search Term. Someone should take a look at the management contract for the arena. Many just did it almost as a social activity. Yep. Mr. Viola's commitment to our nation's security led to his founding of the Combating Terrorism Center at West Point. Hes down at Fort Monroe now, I thinkis that right? Yes. The home is held in the name of a Delaware corporation using the propertys address. So what are theythis would be my take on those incontrovertible principles. [20], Viola withdrew himself from consideration for the position on February 3, 2017, citing his inability to comply with Pentagon regulations regarding personal businesses. I was young, but I had this sense like, I want to go there if, when Im 18, I can. But that was probably a bit sort of romantic in my assessment or a bit nostalgic in assessment. I wrote a clumsy letter and sent it out to companies that I looked up at the libraryback in those days, thats what you did. In 2003 he founded the Combating Terrorism Center at West Point to provide education and research about global terrorism. March 23, 2021 11:15 AM. Mr. Viola is one of the nation's foremost leaders in electronic trading. Standing in formation, being of correct order, marching in formationso youre physicalizing on your leadership ability, and it was the same always. Right, 1982the stock market rally begins in late August of 1982, and as we all know, the beginnings of long-term economic expansions dont feel like theyre going to be long-term economic expansions. [2] So this family pulsed with a patriotic sense of duty to this country that gave us a great life. The Brooklyn Heights home of billionaire Vincent Viola and his wife, Teresa, sold for $25.5 million in a deal that went through on Christmas Eve, according to public records. And you walk into Wall Street, and suddenly it is an environment you can recognizeit seems familiar to you. 2023 Forbes Media LLC. Florida Bulldog delivers fact-based watchdog reporting as a public service thats essential to a free and democratic society. WASHINGTON Vincent Viola, the billionaire Wall Street trader Donald J. Trump has nominated to be the secretary of the Army, was accused in August of punching a concessions . You know, soldiering is as specific, is asthe skills of soldiering and the operational art that you must study and feel comfortable mastering is not unlike any other intellectual academic discipline. Now, maybe thats not the experience for every cadet, but I would say a vast majority, a solid amountmaybe majority, vast majority of people who leave the Army after five years leave a part of themselves with the Army, and have to have a feeling theres a void thereabsolutely. Did your class feel shamed by this, you think? Yeah, actuallyand even more important, organizing the conduct of basically whatthe honor code and the administration of the honor code, the enforcement of it, is not much unlike our jurisprudential system. Viola is the owner of the NHL Florida Panthers. New York City quietly, socially, is a very conservative place, so if Id go out in uniform to a bar anywhere in the city, most of the persons in bars or in points of culture, even at those points, in those years were somewhat older, born of the Korean War or World War II generation. We were [a] extremely patriotic family. If you havent interviewed the honor committee, the senior leaders of the honor committee of the class of 77Mike [E.] Ivy, Mike [Burnell] Henryoh goshI think Carl [Axel] Swansonyou need to sit and have hours around the honor scandal. And I remember hearing later that the people were called out of formation, because they were informed that they were under an honor investigation for an exercise, a take-home exercise that we had in electrical engineering. It was very fascinating, and I could actually say, for me, it was quiteI was self-aware of it, because the academymy classI think this can be documented. And he just was extremely involved effectively at forming us as officers. [9] At West Point, Viola played on the sprint football team and was cadet company commander for Company E-4 his senior year. And I had a few friends from other companies that were in there. Viola and his wife, Teresa, sold the places in March for $11.3 million. Viola. In the American Armythats amazing. You wanted to be that guy. Exactly, you know. My mothers first advice when I told her I was going to get out of the Army, she said, You need to take the civil service test for different positions in New York City, which I thought a little bit about. Absolutelyyeah, it did. Remember in the East Coast, the only place that was close was Fort Dix, and that wasnt a operational unit, it wasnt an operational base. Mr. Viola, who was recognized in 2021 by Sports Business Journal for his advocacy in diverse and inclusive hiring, is one of four team owners on the NHL's Executive Inclusion Council to combat racism and accelerate diversity. A native of Brooklyn, New York, Mr. Viola is a graduate of Brooklyn Technical School and the U. S. Military Academy at West Point. Vincent "Vinnie" Viola (born 1956) is an American billionaire businessman, and U.S. Army veteran. Vincent Viola And that's very powerful continuum there of an Italian-American immigrant family that, not more than 17 years prior, 20 years prior, had been in that village, and now my dad and three of his brothers were in combat. Which was that the nation was in decline, the Army is in decline, old traditional trusted places were not to be trusted anymore. Its the same thing herethis is extremelyin the end its a very insulated, but positively reaffirming, environment. So my class would be a fascinating study. Whats Next? Never wanted out. In contrast the Class A stockholders, who through Virtu own nearly 2/3 of the units of Virtu LLC, have received only $208.4 million in cash dividends during this same period. Virtu now refuses to produce documents necessary to investigate the apparent wrongdoing.. Viola took the company public in April 2015. Hes nowhere near as rich as he boasts, nor as poor as his critics claim. I mean thats really the immigrant story, isnt it, really? Jim was born December 11, 1931 in Millinocket, Maine to Angelina (nee Pasquine) and Vincent James Viola, Sr. Jim graduated from the. Photo by Eliot J. Schechter/NHLI via Getty Images. A 1977 West Point graduate, Viola trained as an airborne ranger infantry officer and served in the 101st Airborne Division. [5], Early life, education and military service, "Five Things To Know About Vincent Viola, Trump's Billionaire Pick For Army Secretary", "Vincent Viola, Founder and Executive Chairman, Virtu Financial", "Vincent Viola Becomes Owner Of The Florida Panthers", "Always Dreaming wins the 143rd Kentucky Derby", "New York businessman leading group purchasing Florida Panthers", "Donald Trump Selects Trading Firm Founder Vincent Viola as Army Secretary", "USMA Class of 1977: The Honor Scandal and Beyond", "All the ways Trump is having an impact on the sports world", "Vincent J. Viola: Executive Profile & Biography", "Virtu Never Loses (Well, Almost Never) in Quest to Upend Markets", "Virtu Financial Announces Pricing of Initial Public Offering (NASDAQ:VIRT)", "Trump picks businessman Viola as Army secretary", "Mattis, Trump team clashed over Pentagon appointment", "Trump's pick for Army Secretary drops out", "Vincent Viola, Billionaire Businessman, Is Trump's Choice to Lead the Army", "Army veteran Vincent Viola, billionaire owner of the Florida Panthers, named Trump's Army secretary", "How West Point is becoming a proving ground for technology", "Epic and Epically Opulent Manhattan Townhouse Listed for $114+ Million", https://en.wikipedia.org/w/index.php?title=Vincent_Viola&oldid=1135074740, This page was last edited on 22 January 2023, at 13:48. The senior staff, as I rememberI remember seeing the Korean service ribbon on some of the senior staff and permanent professorsdare I say when I started our Superintendent, William Knowlton, General Knowltonhe served in World War II, in fact. It is a class that must be chronicled and studied at a granular level from a sociological and military perspective, because it camewe applied at probably the nadir of commitment to the military in the nation. And upon further investigations, they found enough to where it was a systemic problem and challenge to the honor code. Well, of course, as a young man, you yearn for it to be a chivalrous and successful national mission and national adventure. You have to study leadership in combat situations. 1. The Official Site of the Florida Panthers. Mr. Viola and his wife, Teresa, have three sons - John, Michael, and Travis - and several grandchildren. Right. He was a combat commander during Vietnam. After graduating from the Infantry Officer Basic Course and Ranger School, he served with the 101st Airborne Division at Fort Campbell[11] for several years. [14] Prior to and following the Gulf War, Viola earned millions of dollars betting on oil prices. 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What can security professionals do today to offset the threat of a catastrophic cryptography failure? He also suffered from alcoholism from when he came home from World War II until my Yearling Year. And I remember the impact it had on his family, especially his dad, who served so honorably in World War II. Anyway, to make a very, very long story short, we get to the town, people start collecting around my dad spontaneouslybecause its a very small town, even in 1980. Do you think that there was the feeling, anywhere in the Armyin the leadership or among other alumni and classes, that, as you referred to before, that the standards may have lowered in admitting your class? [18][6] In 2013, their Upper East Side townhouse was listed for sale at $114 million. I remember the first time I heard an upperclassman kind of bad-mouthing some of the policies of the Academy. Right. Now, didare you the first to go to West Point in your family? And the decision was madeand the right decision was madeto examine every paper and to see if, in fact, any papers that looked somewhat similar, to simply ask, call the cadets in and say, Did you collaborate? 118 records for Vincent Viola. So as I remember, there was a period where cadets basicallycadets who were charged basically claimed that everyone cheated at the Academy, and the honor code wasnt being upheld. [8], Viola began his business career as a trader in the New York Mercantile Exchange (NYMEX) in 1982, raising $10,000 to purchase a seat on the exchange. A native of Syosset, N.Y., Cifu graduated magna cum laude with a Bachelor of Arts degree from Columbia University, where he was elected a member of the Phi Beta Kappa academic honor society, before completing his J.D. Vincent Viola is our Founder and has served as our Executive Chairman since November 2013. 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