Tim Blixseth
| Tim Blixseth | |
|---|---|
| Born |
April 27, 1950 Roseburg, Oregon, U.S. |
| Residence | Medina, Washington, U.S. |
| Nationality | American |
| Occupation | Real estate, timber, songwriter |
| Net worth |
 US$1.3 billion (2007)Bankrupt (2014) |
| Spouse(s) | Edra Denise Crocker Blixseth (1983 - 2008) Jessica Ferguson Kircher |
| Children | Beau Blixseth (b. 1979) Morgan Blixseth-Caldwell (b. 1981) |
Timothy Lee "Tim" Blixseth (born 1950) is an American real estate developer, record producer, songwriter and timber baron. He was a co-founder of the Yellowstone Club in Montana. In 2006, Blixseth was featured in the Forbes 400 List of wealthiest Americans with a net worth of $1.3 billion. However, based on court records from his 2009 divorce, news reports estimated his 2011 net worth to have dropped to $200 million. By 2012 he faced a forced bankruptcy for failing to pay Montana $57 million in income taxes and in 2014 he told the courts he was "too broke" to pay pending judgments and contempt findings for his fraud role in the Yellowstone Club bankruptcy.
Blixseth's wealth and assets have been the subject of controversy. The bankruptcy of the Yellowstone Club in 2008 led to extensive litigation with Blixseth and his creditors. The property emerged from bankruptcy under new ownership in 2009.
According to Blixseth, he "grew up on welfare in Roseburg, Oregon". He attended Roseburg High School (Class of 1968) and after graduating he worked in a sawmill. His parents were members of "a local cult" called Jesus Name of Oneness.
Blixseth began his business career using land swap deals and federal timber contracts. He is the founder and chairman of the Blixseth Group and various entities associated with his timber, music production, real estate and software ventures. These include Blxware, Yellowstone Mountain Club, Yellowstone World Club, Crown Pacific LTD, Big Sky Lumber, BGI, Friday Records, Western Pacific Lumber, Blixseth Family Investments (BFI), TWJ Holdings LLC, Kawish LLC, Mexican Moon Investments LLC, and Desert Ranch Management.
Following bankruptcies in 1981 and 1986, Blixseth began to rebuild his timber business endeavors. In 1988 he co-founded Crown Pacific, LTD with Peter Stott and within a year had $44 million in sales.
During this time, Blixseth was involved with three Oregon companies that defaulted on 22 national timber sale contracts owed the U.S. Forest Service more than $8 million. Two of Blixseth's timber companies, Capital Veneer and Capital Log Sales, filed for bankruptcy with debts totaling more than $16 million. A third company, Little River Box Co., was dissolved following two federal contract defaults. By 1992 Blixseth had sold his interests in Crown Pacific and launched Big Sky Lumber in Montana.
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