Personal
Mudd was married to the former E. J. Spears of Richmond, Virginia, who died in 2011. They had three sons and a daughter: Daniel, CEO of Fortress Investment Group LLC and former CEO of Fannie Mae, singer and songwriter Jonathan Mudd, author Maria Mudd Ruth, and Matthew. He has eleven grandchildren. His family is indirectly related to Samuel Mudd, the doctor who was imprisoned for aiding and conspiring with John Wilkes Booth after the assassination of Abraham Lincoln. He resides in McLean, Virginia.
Mudd has been active as a Trustee of the Virginia Foundation for Independent Colleges, with which he helped to establish its popular "Ethics Bowl," featuring student teams from Virginia's private colleges debating real-life cases involving ethical dilemmas. He is also a trustee of the National Portrait Gallery and author of the memoir The Place to Be: Washington, CBS, and the Glory Days of Television News.
In December 2010 he donated $4 million to Washington and Lee, his alma mater, to establish a center for the study of professional ethics and to endow a professorship in ethics. Both the center and the professorship are named for him.
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