Richard Rainwater dies

BILLIONAIRE philanthropist-investor Richard Rainwater, the son of a grocer who went on to amass a fortune as an investment manager, has died aged 71.

RICHARD Rainwater, the son of a North Texas grocer who went on to amass a fortune as an investment manager before becoming a billionaire investor and philanthropist in his own right, has died, according to his charitable foundation. He was 71.

A STATEMENT issued by the Rainwater Charitable Foundation said Rainwater died Sunday morning at his Fort Worth, Texas, home after a long battle with a rare neurological disease. He had been battling progressive supranuclear palsy since 2009 and had pumped millions into a campaign to finding a cure.