TRUE WEALTH

Jim Sorenson was born into poverty to teenage parents. As a small boy in California he shelled walnuts and sold things door-to-door to help put food on his family's table. Hope for a better future was dashed for a time by a teacher who branded him "mentally retarded." Yet he died a billionaire, having risen to rare heights as an inventor and entrepreneur. Dyslexia made reading extremely difficult, but also planted the seeds of awesome abilities. He invented many medical instruments that today are standard in hospitals across the world, and pioneered entire industries while launching some 40 companies. Jim was an American original––eccentric and complex, who preached teamwork but was utterly incapable of being anything but the leader; insistent on his rules but indifferent to everyone else's. After co-founding one of the nation's first biotechnology companies, he left and began Sorenson Research. Jim coveted results, not resumes. He hired a machinist and a sewing-machine repairman. Starting almost from scratch, the three invented ingenious medical devices, selling the company fifteen years later for $100 million. Real estate was the other pillar of Jim's wealth. He was reputed to be his state's largest private landowner. His genius in acquiring land and holding, selling, or developing it created a blueprint others can profitably follow. Jim was a philosopher and idealist, pouring a fortune into a quest for peace. He brought antagonistic religions together in international summits, and gathered 100,000 human DNA samples from 90 percent of all countries, believing that if diverse peoples are shown they are related, they will learn to leave peaceably. Jim was also a husband and father of eight whose family struggled to relate to him as he single-mindedly pursued his dreams.

Contents

Acknowledgements 9

Prologue 11

1 Tough Start for Teen Parents 17

2 Mentally Retarded 33

3 A Giving Heart 48

4 Boy Innovator 58

5 Beverley Born in Idyllic Family 73

6 First Love 88

7 Mission Trumps Medical School 101

8 Champion Baptizer 110

9 Whirlwind Courtship 121

10 Upjohn 134

11 Hiking Goat Pastures 150

12 Boy’s Death Sets Course 163

13 Deseret Pharmaceutical 174

14 First Paper Surgical Mask, Disposable Catheter 189

15 Sorenson Research Soars 196

16 LeVoy’s, Religion, Music 207

17 The Greatest Mind 225

18 Jim, Dr. Homer Warner Team to Mend Hearts 236

19 Cardiac Catheter Opens New Era 249

20 Device Saves, Re-Circulates Patient’s Own Blood 261

21 Selling Sorenson Research 272

22 Jim Turns His Back on Family 284

23 Lure of the Land 301

24 Sorensons Create a City 315

25 White Sage Ranch, Farm l 328

26 University of Utah Gift Fiasco 344

27 Jim, Beverley Generous With Needy 359

28 New Companies Launch, Fail 370

29 Sorenson Bioscience 380

30 Jim a Volatile Leader 395

31 Crime v. Basketball 409

32 Beverley Saves Kids With Art 420

33 DNA Kinship and World Peace 432

34 Fostering Faith, Choosing Family over Fame 446

Epilogue 463

Appendix 469

Sources 484

Index