HBO founder Charles Dolan passes away at 98: 5 Interesting facts you did not know about him

Charles Dolan, the founder of the cable TV giant HBO, passed away surrounded by his family on Saturday, December 28, due to natural causes, reported the news agency Bloomberg, citing an official statement cited in the local news portal Newsday. 

Here are 10 Interesting facts you should know:

1. The Cable TV Pioneer: Dolan was the pay television pioneer who won the first cable TV franchise in Manhattan. He also founded Home Box Office Inc. and later built Cablevision Systems Corp. into the fifth-largest U.S. cable company, as per the news report. 

2. Professional Maverick: The founder was always regarded as a maverick and visionary in the industry who continued to surprise investors, competitors, and Wall Street, at times, by running up the company's debt.

3. Competitive Nature: Dolan was famous for outbidding larger competitors to win control of Cablevision’s founding cable systems and, later, New York’s Madison Square Garden, the Knicks of the National Basketball Association, the Rangers of the National Hockey League and the Liberty of the Women’s National Basketball Association. Dolan remained as the chairman till his son James succeeded him as the CEO in 1995.

4. Dolan's Loss Lesson: Charles Dolan lost control of his first two ventures, which included HBO before he founded Cablevision in 1973. Cablevision served only 1,500 customers. Since then, he kept a majority stake even after Cablevision went public in 1986. He owned the majority of the Class B shares that elects three fourth of the company directors, according to the agency report. 

5. Dolan's Net Worth & Early Life: Born in October 1926, Charles Dolan's net worth was $5.6 billion as of the end of 2021, according to the Bloomberg Billionaires Index.

Dolan was a member of the U.S. Army Air Forces during the World Wars, and his duty ended 10 months after the end of World War 2. After returning from war, he enrolled himself at John Carroll University, where he met his wife, Helen Burgess, according to the agency report.