Dan Borislow

Businessperson, Person

1961 –

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Who is Dan Borislow?

Daniel M. Borislow is an American entrepreneur, sports team owner, inventor, and thoroughbred horse breeder. Originating in the Philadelphia, Pennsylvania area, Borislow attended Widener University and worked in cable construction and landscaping before going into the telephone business. He founded Tel-Save, Inc. to resell access to AT&T long-distance lines in 1989. Borislow took the company public in 1995, and two years later brokered a $100 million deal with AOL that made it the exclusive telephone service of its users. At its peak in early 1998, Tel-Save had sales of $300 million and was valued by Wall Street investors at $2 billion. However, due to the financial strain of paying off the AOL deal, Tel-Save lost $221 million in 1999, and Borislow sold his stock for a reported $200 – $300 million and retired.

In his brief retirement, he focused on his horse racing career, sending Talk is Money to the 2001 Kentucky Derby although the thoroughbred did not complete the race. Borislow's most successful horse yet has been Toccet, who won four graded stakes, among which are the Champagne and Hollywood Futurity in 2002. After selling most of his horses in 2004, Borislow set forth plans for a new voice-over-IP business which became the magicJack. Invented in 2007, the magicJack is a small product which can be plugged into a computer's USB port and allows for unlimited calling from regular telephones. In 2010, YMAX, the company behind the magicJack, merged with an Israeli company and became a publicly traded corporation. Borislow also purchased a controlling share of the Washington Freedom women's professional soccer team. Borislow and his family live in Palm Beach County, Florida, where, through D&K Charitable Foundation, Borislow issues grants to charitable causes.

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Born
Sep 21, 1961
Philadelphia
Spouses
Nationality
  • United States of America
Profession
Education
  • Widener University
Lived in
  • Philadelphia

Submitted
on July 23, 2013

Citation

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