Michael S. Shannon

Mike Shannon, the third of four children, was born in 1958 in Brookfield, Wisconsin, a small town near Milwaukee. His father, whom Shannon describes as a renaissance man, lost out on his dream of becoming a doctor. "He had put in one year of college when World War II broke out," explains Shannon. "When he returned from the war, he had to take care of his younger half-brother, whose mother had died when he was four. He completed his degree at the University of Wisconsin, where he met my mother, and then became a flooring contractor. At the time the baby boom was on, and my father installed most of the gym floors in the new high schools being built."

Shannon's father, who influenced his son greatly, listened to classical music, taught Catholic catechism, was a tribe master for the Indian Guide program sponsored by the YMCA, and was familiar with all the classics of literature. "He had a blue-collar job, but he wasn't a typical blue-collar worker," says Mike. "He had a smile for everyone, and he always had time for his kids. He was a wonderful father to me and my three siblings."

Shannon describes his mother as loving, hardworking, industrious, and thrifty. Before her children were born, she worked as a seamstress, teaching the skill to young women at a reform school. She made her own wedding dress as well as many of the clothes for her family. "I was the only high school letterman with a purple velour sports coat and green pants, which my mother made for me for the prom," says Shannon. "Both of my parents taught me to be self-reliant. They believed that if you worked hard enough, you could figure a way out of any problem."

Shannon, who says he was terminally curious as a child, began working at the age of 14. By then new schools were not being built, and Shannon's father was having a difficult time financially. Shannon worked as a soda jerk, sold sporting goods, and mowed lawns for his neighbors. His favorite job, however, was cleaning ducks. His father was an avid hunter, and they would leave to go duck hunting early in the morning. Shannon was paid to clean what they bagged, getting $1 for a mallard and $2 for a goose.

Shannon's parents wanted their children to go to college. His sister, who is six years older, ran for the state assembly when Shannon was 15. During the 1974 primary, she was the only woman running against 10 men. Shannon helped with her campaign and was thrilled when she became the nation's youngest woman to be elected to a state seat.

When Shannon was 18, he did a summer internship for Sen. Bob Kasten (R-WI) in Washington, D.C. Like his siblings, he attended the University of Wisconsin (UW) to take advantage of in-state tuition. As a freshman, he interned for two legislators at the Wisconsin State House. He also became involved with the Ski for Cancer charity, and he helped raise $25,000 every year while he was at UW. Putting his business major to work, Shannon created a spirit stick, which was actually a large drinking straw, and he sold the sticks at football games, giving all proceeds to the Ski for Cancer fund. "It was a highly successful campaign," says Shannon. "We sold tens of thousands of those straws and kept the fans in good cheer! That was my first business."

To help with his expenses during college, Shannon worked in his father's flooring business. One Thanksgiving, the old floors in the bakery at Wonder Bread gave way, and the company contracted with Shannon's father to do the repairs. "I joined the carpenters' union and worked nonstop with my father for four days to get the Wonder Bread bakery back in operation. Because we worked over a holiday, we received double time, and my share fully paid for my next year of tuition."

Shannon graduated with a business degree in 1980. He married Mary Sue and joined First National Bank of Chicago's media and entertainment division. He was selected for a management program, which paid for nighttime graduate school. Shannon earned a master's degree in accounting and finance from Northwestern University's Kellogg School of Management.

After spending five years in commercial banking, one of Shannon's clients offered him a vice presidency and part ownership in the client's media business. Shannon accepted the position, and upon the company's acquisition of Colorado-based Vail Associates, which ran the Vail/Beaver Creek resorts, Shannon, then only 27, became its president and CEO. Under his leadership, from 1985 to 1992, Vail evolved into the world's leading mountain resort both in attendance and profits, hosting the World Alpine Ski Championships in 1989.

In 1992, Shannon partnered with Kohlberg Kravis Roberts to start KSL Recreation. Over the next 12 years, he bought resort properties and developed them to the next level. "I loved going in and seeing a property as it was and then envisioning what it could be," says Shannon. He went on to acquire and reconceptualize such notable properties as The Homestead, Grand Wailea Hotel, Doral Resort and Spa, Arizona Biltmore, La Costa Resort and Spa, and Hotel del Coronado. Those properties were redesigned to reflect each location's unusual heritage. KSL Recreation's 2004 sale brought in nearly $2.3 billion. At that point, Shannon started KSL Capital Partners, a private equity firm that invests in travel and leisure businesses around the world. Since its founding, KSL has raised $7 billion in capital commitments.

Shannon feels fortunate to have worked in a business that focused on skiing, golf, and hospitality. "In a perfect world, if you can find an enterprise around what you love to do and you can make a living at it, then you are a lucky person," he says. "I especially loved the times when my team thought we would be unable to reach a goal, but when you see that team not only reach the goal but exceed it, that's when they discover they are better both professionally and personally because they tried something they didn't think they could accomplish. That's how I define success."

Shannon credits his father for his optimistic viewpoint on life. "My father didn't have wealth to pass along," he says, "but he gave me an attitude that has paid off for me over and over throughout the years. I believe a stranger is a friend I haven't yet met. I advise young people who are just getting started to be curious about other people they admire. I tell them to find out how they got where they are today. When you listen closely to others, there is always something you can take and make your own. Advice is free, and people willingly give it to you. I never know what I'm going to learn from the next person who walks into my office."

Shannon serves on the board of Colorado's Vail Valley Foundation, which administers the Gerald R. Ford Amphitheater and the Vilar Performing Arts Center. The Arts Center manages a series of educational, athletic, and cultural activities in Vail Valley. Shannon has also served as a trustee of Northwestern University and as a board member of the University of Wisconsin Foundation, United States Ski and Snowboard Association, Eisenhower Medical Center, Vail Health Services, Canyon Ranch Institute, and Mayo Clinic Global Advisory Council.

Shannon is the recipient of the University of Wisconsin's Distinguished Alumni Award and Northwestern University's Kellogg Schaffner Award. He and Mary Sue are Philanthropic Partners of the Mayo Clinic and are principal supporters of its Regenerative Medical Center.