Billionaire Hunt Petroleum Heiress Lyda Hill
The Billionaire in the Room:
After market close yesterday, Remeditex Ventures filed their 13D filing for their ownership in Solition Inc. (NASDAQ: SOLY).
According to this filing, Remeditex owns 58.7% of SOLY.
After doing a little digging around into Remeditex, we discovered that it has been solely funded by a woman named Lyda Hill Hunt.
It turns out that Lyda’s maternal grandfather was the late H.L. Hunt of the Hunt Petroleum family and according to Forbes, their net worth is north of $13.5B.
The Hunt family has been involved in a multitude of projects, but the most notable appear to be that they own the NFL’s Kansas City Chiefs and a minority stake in the NBA’s Chicago Bulls, plus a ton of real estate assets around the US.
According to Lyda’s philanthropy website, she launched Remeditex Ventures to invest in early biomedical research by universities and health care institutions designed to take promising scientific advances to the marketplace quickly.
It just so happens that Soliton’s RAP device originated at the MD Anderson Cancer Center (MDACC), based in Houston, TX and it’s the largest research center in the world and MDACC still remains a shareholder of Soliton today.
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