An MIT community member writes, "Teledyne Corporation was a great industrial company in its day, a multi-billion dollar example of a successful conglomerate, founded and run by Dr. Henry Singleton, an MIT alumnus. The theory behind the company was centralized financial control with decentralized operations, and so the company is an exemplar of that type of organization. Singleton was a canny iconoclast, a very curious character. Through Teledyne's insurance subsidiaries, he distinguished himself as an investment genius.
"MIT professor and friend Claude Shannon was on Teledyne's Board of Directors. After retiring, Singleton became the largest individual landowner in the U.S. (rivaling Ted Turner, depending on who owned what when)."