American businessman Philip Falcone has an estimated net worth of $1.2 billion as of March 2013 according to Forbes. He is known to be the founder of LightSquared and Harbinger Capital. In 2011, he was named by Forbes as the world's 540th wealthiest person and in the U.S., he ranked #188.

Prior to his present success, Philip Falcone has worked for several companies including Kidder, Peabody & Co., Wachovia and AAB Manufacturing Corporation, where he served as the chief executive officer and President. He is one of the members of the council which founded Kissinger Institute in China and the United States.

In June 2012, Falcone was accused of U.S. Securities and Exchange Commission by the U.S. Securities and Exchange Commission. They alleged that Falcone had conducted illegal activities to manipulate the price of bonds, used funds to pay his taxes, favored several customers at other's expense and buying equity securities in public offerings unlawfully. Starting May 2013, Philip Falcone was banned from SEC deal as a Investment Advisor for a period of two years.