American entrepreneur and philanthropist Kirk Kerkorian made his money in aviation, leisure, and entertainment. Kerkorian was one of the most successful businesspeople of his period, and his life extended nearly a century after his 1917 birth in California.
This article will take a close look at Kirk Kerkorian’s life and fortune, including such topics as his upbringing and education, professional and personal endeavors, as well as his real estate holdings and legacy.
Kirk Kerkorian Net Worth
At the time of his death in 2015, American businessman, investor, and philanthropist Kirk Kerkorian was worth $4.2 billion. Kirk Kerkorian was an extraordinary man who rose from Great Depression-era poverty to become a multibillionaire industry giant. The International Hotel, MGM Grand Hotel and Casino, and MGM Grand are three of the most recognizable landmarks of modern Las Vegas, all of which he oversaw the development of.
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4. Francois Pinault: Net worth of $34 billion.
5. Kirk Kerkorian: Net worth of $4.2 billion.
6. David H. Murdock: Net worth of $2.1 billion.— Michael Collins (@Michael1Collins) May 21, 2021
He also formed the private holding company Tracinda Corporation in 1976 and served as its president and chief executive officer. Kerkorian was a generous philanthropist who gave over a billion dollars to organizations in his homeland of Armenia via the Lincy Foundation.
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Why Did Kerkorian Shift His Focus to General Aviation After the War?
At the Happy Bottom Riding Club in the Mojave Desert, Kerkorian studied aviation in the years before the outbreak of World War II. He received his commercial pilot’s license after around six months of instruction with pioneer aviator Pancho Barnes. Kerkorian then joined the British Royal Air Force’s Ferry Command, where he spent the next two and a half years delivering 33 planes and racking up thousands of flight hours.
Kerkorian became a pilot for general aviation after the war when he bought a Cessna. He frequently traveled to Las Vegas to partake in his favorite pastime, gambling. Kerkorian paid $60,000 for Trans International Airlines in 1947 after he stopped gambling. Up until 1968, when he sold it to Transamerica, he was the airline’s operator.
What Motivated Kerkorian’s Interest in the American Car Industry?
Kerkorian had extensive dealings with the American car industry. He and former Chrysler CEO Lee Iacocca tried a hostile takeover of the company in 1995, but they were ultimately unsuccessful. Kerkorian also bought Ford Motor Company stock in 2008 after previously owning 9.9% of GM.
What Prompted Kerkorian to Establish the Lincy Foundation in 1989?
Kerkorian established the Lincy Foundation in 1989 and gave away an estimated $1 billion to organizations in his native Armenia. After the devastating earthquake of 1988, he gave money to help rebuild the country’s streets and schools. Kerkorian also bankrolled “The Promise,” a film on the Armenian genocide that was released in 2016. In 2011, the Lincy Foundation was closed.
Kirk Kerkorian’s philanthropic Lincy Foundation would ultimately give away $1 billion http://t.co/l1YMWuujG9
— Oganes (@OganesAkopyan) June 19, 2015
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