Kirk Kerkorian Net Worth, Family, Life, Children and Quotes

Kirk Kerkorian Net Worth, Family, Life, Children and Quotes

Kerkor Kirk Kerkorian was one of the most prolific business tycoons to bring credit to the United States in the mid and late 20th century. By focusing on resorts, he turned Las Vegas into the entertainment mecca it is today.

During his career as a businessman, Kerkorian became a hero to many in the United States, as well as one of the most emblematic figures of his ancestral homeland, Armenia.

Many consider Kirk Kerkorian to be the father of Las Vegas

 

Biography of Kirk Kerkorian

  • Actual full name: Kirk Kirkorian
  • Nickname: Kirk Kerkorian.
  • Profession: Armenian Contractor
  • Born: 6. June 1917, Fresno, California, USA.
  • Deceased: 15. June 2015, Beverly Hills, California, United States.
  • Net assets: $4.0 billion The total value of the project is $1.5 million (June 2015).
  • Husband: Una Davis (m. 2014-2015), PLUS.
  • Children: Tracy Kerkorian, Linda Kerkorian Kemper, Linda Kerkorian…

Beginning of life

Kirk Kerkorian was born on the 6th. June 1917, born in Fresno, California. His first language was Armenian, which he spoke with his parents, who had emigrated from the country. Before taking an interest in the profession, Kerkorian spent some time as an amateur boxer with his brother Nish Kerkorian.

Kerkorian was eventually nicknamed Rifle Right Kerkorian because of his success in the ring. But his days in the boxing ring were numbered. Eventually, Kerkorian began his professional life by obtaining a commercial pilot’s license.

Along the way, Kerkorian, then a twenty-something, met Pancho Barnes. Barnes, the aviator who recently broke the record for Amelia Earhart’s fastest flight, has taken Kerkorian under his wing. Combined with his commercial flying lessons, Barnes helped train the young aviator.

After just six months of flying, Kerkorian found his big business idea in the middle of World War II. He was trying to shorten the time it took the British Royal Air Force to get Canadian fighters from North America to Scotland.

The fall? Kerkorian wants to deliver the aircraft faster, with less fuel than expected. With his Wing Commander, Kerkorian kept his promise and spent the next few years saving his Royal Air Force salary by transporting de Havilland Moskitos across the Atlantic.

After two and a half years, Kerkorian had saved enough money to buy a Cessna airplane. He returned to California and began taking commercial flights to Las Vegas. Three years later, in 1947, Kerkorian saved enough money to buy Trans International Airlines. In just 20 years, a savvy businessman would have boosted the value of the company from the $60,000 he bought to $104 million.

Trans International Airlines was the beginning of his personal fortune.

Employment history and assets

Kerkorian is best known for his Las Vegas businesses, which helped develop the Strip and transformed the desert mecca into an iconic city of lights. In 1962, six years before the sale of Trans International Airlines, Kerkorian bought 80 acres of land along the Vegas Strip.

At the time, Kerkorian was not yet in the resort business. Businessmen Jay Sarno and Stanley Mullin approached Kerkorian with the idea of building a luxury resort that would reflect the heyday of the Roman Empire.

Kerkorian accepts the offer and rents his newly acquired land to the men. Four years later, Caesars Palace was born. Just two years after completion, Kerkorian sold the property for $9 million to the owners of Caesars Palace (the same year he sold his company, Trans International Airlines, for $104 million).

Kerkorian founded his own group, International Leisure, which helped build the highly successful International Hotel. Around the same time, Kerkorian bought Metro-Goldwyn-Meyer Studios and began working on its first projects as MGM.

The MGM Grand Hotel and Casino opened in 1973 as the first project of MGM Resorts International. Other large properties : Bellagio, Mirage, New York-New York, Circus, Mandalay Bay, Luxor, Excalibur and Monte Carlo – although Kerkorian eventually sold MGM Resorts International for $594 million in 1986.

According to Macrotrends, MGM Resorts has net assets of just over $15 billion as of January 2021. The brand’s success in Vegas and beyond is a testament to Kerkorian’s vision in the late 1960s. Today, MGM’s online casino in New Jersey still offers sites alongside other market leaders, although many brick-and-mortar establishments in Las Vegas have more competition in the online space.

In addition to his activities in Las Vegas, Kerkorian was also very involved in the film industry during his tenure at MGM and ventured into the automotive world, working with General Motors and the Chrysler Group.

Most of Kerkorian’s philanthropic efforts were focused on his parents’ native country, Armenia.

Personal life and charitable activities

Kerkorian has been married three times. His second marriage to the English dancer Jean Hardy lasted thirty years. The couple had two daughters, Tracy and Linda, whose names were taken from the Tracinda Kerkorian Corporation.

Aside from his high-profile cases, Kerkorian was very much in his own right. While some people thought he was a maniacal genius who could become a recluse, those close to him knew him as a normal guy.

Although the business tycoon was in love with the bespoke suits of some of the most expensive brands in the world, he was known to drive mid-range cars like Jeeps and Fords. Despite his great wealth at the time of his death in 2015, Kerkorian had a long legacy of philanthropy.

Just as Tracinda used his daughter’s name, so did the Linsey Foundation, established in 1989. The non-profit foundation was established to carry out its charitable activities, much of which initially focused on the reconstruction of the regions after the devastating earthquake in Armenia.

Kerkorian has funded the construction of a transnational highway and numerous infrastructure rehabilitation projects there to the tune of more than $200 million. In addition to the renovation of infrastructure, donations were used for the restoration of museums, theatres and other facilities of cultural importance.

As a result of his work in his parents’ homeland, he received the title of National Hero of Armenia, the highest national award, in 2004. In 2011, however, Kerkorian dissolved the Linsey Foundation. The latest charity initiative is a $200 million donation to the University of California, Los Angeles.

The money was for medical research, but also included a grant from the Dream Foundation to transfer money to other charities across the country. Kerkorian’s last act of philanthropy occurred after his death in 2015.

At that time, his fortune was about $2 billion. Kerkorian appointed a three-member committee to distribute most of his remaining fortune to charities after his death.

His legacy is his philanthropic efforts, the development of Las Vegas and the funding of the film industry in Hollywood. To this day, it remains one of the greatest examples of the American dream.

Kirk Kerkorian Quotes

Life is one big game of dice. I gotta tell you, it was fun. – Kirk Kerkorian.

I thought if I made $50,000, I’d be the luckiest person in the world. -Kirk Kerkorian

I think we can do it. -Kirk Kerkorian

I think I know what I want, and the other side knows what they want, and you play cards on the table. – Kirk Kerkorian.

Fortunately, I have excelled in almost every area I have tackled. You must have been very lucky. Kirk Kerkorian…

I don’t pretend to be mystical. I’m lucky and I work hard. -Kirk Kerkorian

I’ve been very lucky and I’ve achieved a lot. -Kirk Kerkorian

My mother and father came as Armenian immigrants. -Kirk Kerkorian

I wish I could talk like Donald Trump or Steve Wynn. I wish I could. – Kirk Kerkorian.

I think America has been very kind to us. I like to give something back. -Kirk Kerkorian

We have a vision! -Kirk Kerkorian

I don’t think you need 30 years of experience to say anything meaningful. -Kirk Kerkorian

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