Richard Parsons is known for being the former CEO of Warner Media, and turning the corporation from over US$29 billion of net debt into the most profitable media company in the world.
After his departure from Time Warner in 2009, he served as chairman of Citigroup after its financial crisis. He was also chairman of CBS in 2018. He recently invested in Celo, a blockchain-based payments platform.
Having experienced the biggest ups and downs in the financial crisis, he can finally gain a peace of mind in his small estate in Italy’s Brunello di Montalcino, Il Palazzone. He purchased the estate in 2000 and completed the winery in 2012.
With 20 acres of Sangiovese, Cabernet Franc and Petit Verdot vineyards, the estate makes about 18,000 cases of wine a year including Brunello and Super Tuscans from US$50 up to US$200 bottles on restaurant list.
Apart from producing the famous Italian Brunello di Montalcino, he spent five years researching and created the blend Lorenzo & Isabelle in honor of his parents afterwards.
Although he admitted wine is a tough business to make money, he was pleased that he was a part of producing something that is ‘natural, wholesome and quite enjoyable’.