Richest Americans - #7

Kirk Kerkorian

Net Worth: $18 billion
Source: Casinos, investments
Residence: Las Vegas, Los Angeles
Age: 90
Marital Status: Thrice divorced, 2 children

• Son of Armenian immigrant fruit farmer dropped out of school in eighth grade.
• Trained U.S., British fighter pilots during WWII.
• Flew surplus Air Force planes across Atlantic after war before building charter flights company Trans International Airlines; sold for $104 million profit 1966.
• Acquired Flamingo Hotel in Las Vegas 1967, built International Hotel 1969. Sold both properties to Hilton Hotels 1970.
• Went Hollywood: made billions buying and selling movie studio MGM, 3 times since 1969.
• Back to Vegas: nabbed Steve Wynn's Mirage Resorts for $6.4 billion 2000, then Mandalay Bay Resorts for $7.9 billion 4 years later.
• Today MGM Mirage owns more than half the hotel rooms on Las Vegas Strip; shares up 140% in past 12 months.
• Attempted to personally buy Bellagio casino, unfinished 76-acre resort complex CityCenter from MGM Mirage this spring; pulled out after company struck deal with Kerzner International to develop 40 acres of land on Strip.
• In August sold half of CityCenter, 9.5% chunk of MGM to Middle East investment firm Dubai World for $5 billion.
• Spent 20 frustrating months fighting to reshape General Motors; believed to have sold entire stake last November.

Previous | Next

Back to The Forbes 400 Richest Americans: Main Page