Net Worth & Profile
Kirk Kerkorian Biography and Net Worth
Kirk Kerkorian was a businessman and philanthropist. He led Tracinda Corporation, his private company in Beverly Hills, California, as its president and CEO.
Who is Kirk Kerkorian?
Kirk Kerkorian was a businessman and philanthropist. He led Tracinda Corporation, his private company in Beverly Hills, California, as its president and CEO.
Bio Data
| Name | Kirk Kerkorian |
| Gender | Male |
| Date of Birth | Jun 6, 1917 – Jun 15, 2015 |
| Age | 98 years old |
| Place of Birth | Fresno |
| Profession | Businessperson, Investor, Financier |
| Nationality | United States of America |
| Net worth | $4.2 Billion |
Biography
Kerkor Kerkorian, born in Fresno, California on June 6, 1917, was of Armenian heritage. His parents immigrated to the United States after fleeing the Armenian Genocide. His first language was Armenian, and he later learned English.
Following the 1920-21 downturn, the family relocated to Los Angeles. Kirk dropped out of school in eighth grade to pursue boxing, which he excelled at. He won the Pacific amateur welterweight championship as “Rifle Right Kerkorian” under the tutelage of his brother Nish Kerkorian. Kirk Kerkorian had an elder sister named Rose Kerkorian as well.
Career
Before World War II, Kerkorian learned to fly in the Mojave Desert. After six months of training with Pancho Barnes, he became a certified commercial pilot. He joined the British Royal Air Force’s Ferry Command, delivering 33 planes and logging extensive flight hours over two-and-a-half years.
After the war, Kerkorian worked as a general aviation pilot, owning a Cessna. He frequented Las Vegas for a time, but in 1947, he left gambling behind and bought Trans International Airlines for $60,000. He managed the airline until 1968 when it was sold to Transamerica Corporation.
Kerkorian played a pivotal role in Las Vegas’ development. In 1962, he acquired 80 acres of land for $960,000, leading to the construction of Caesars Palace. In 1967, he bought 82 more acres and, with architect Martin Stern Jr., built the International Hotel, the world’s largest hotel then. It featured iconic performers like Barbra Streisand and Elvis Presley.
In 1969, Kerkorian purchased MGM Studios. He later bought United Artists, expanding MGM’s film library. Kerkorian sold MGM to Ted Turner in 1986 but reacquired it from Crédit Lyonnais. He further expanded MGM, buying Orion Pictures, Samuel Goldwyn Company, and Motion Picture Corporation of America, selling it in 2005.
Kerkorian was involved in the auto industry, attempting a takeover of Chrysler in 1995 and owning a stake in General Motors. He also invested in Ford in 2008.
In 1989, he established the Lincy Foundation, donating around $1 billion to causes in Armenia. He funded major projects, including earthquake recovery efforts, and supported the film “The Promise” about the Armenian genocide. The Lincy Foundation closed in 2011.
Net Worth
Kirk Kerkorian, an American businessman and philanthropist, died in 2015 with a net worth of $4.2 billion. During the Great Depression, he emerged from destitution to become a powerful figure in a variety of businesses.
Notably, he was instrumental in developing modern Las Vegas, supervising buildings such as the International Hotel, MGM Grand Hotel & Casino, and MGM Grand. Kerkorian established Tracinda Corporation in 1976 and served as president and CEO. He was also a wealthy philanthropist, donating over $1 billion to charities in his ancestral Armenia through his Lincy Foundation.
Personal Life, Death, and Marital Status
Kerkorian was married four times. His first marriage, to Hilda Schmidt, ended in divorce after ten years. In 1954, he married ballerina Jean Maree Hardy, but they divorced after thirty years. Kerkorian died in June 2015, at the age of 98, in Beverly Hills, California.
FAQS
Q: Who was Kirk Kerkorian?
A: Kirk Kerkorian was an Armenian-American businessman, investor, and philanthropist known for his significant contributions to various industries, including aviation, entertainment, and real estate.
Q: What were some of Kirk Kerkorian’s notable achievements?
A: Kerkorian played a crucial role in the development of Las Vegas, was involved in the auto industry, and acquired and managed major entities like Trans International Airlines and MGM Studios.
Q: What was Kirk Kerkorian’s philanthropic work?
A: He established the Lincy Foundation, which made substantial donations to causes in his ancestral land of Armenia, funding projects like earthquake recovery and supporting the film “The Promise” about the Armenian genocide.