Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Kirk Kerkorian
Investors and Entrepreneurs

Businessman Kirk Kerkorian: the billionaire’s story

21.04.2022
2 min read

How Kirk Kerkorian built a successful business in various fields

Kirk Kerkorian is a cult figure in the gambling business. He managed to reach incredible heights, having only the desire and faith in his own strength. The life of the businessman was full of interesting twists and turns.
Kerkorian was born in 1917 in California in the family of immigrants from Armenia. Already at the age of 9 the boy helped his parents to earn money by doing various kinds of work. The family often changed places of residence, and often there were disagreements between Kirk and his new classmates, from which the boy emerged defeated. To protect himself from violent children, he enlisted the help of his older brother, who was a boxer. The sport became a passion for Kirk, and for the sake of lessons, he left school in grade 8, planning to make a career as a boxer, but everything changed with the acquaintance with Ted O’Flaherty. One day he took the young man to fly an airplane, and Kirk realized that he wanted to become a pilot. In 1940 he graduated as a pilot and instructor, and went to serve in the British military. The pay here was good, and for 2.5 years of work the young man was able to earn a good start-up capital. In 1945 he left the service and bought a training plane. On it he flew commercial flights in Los Angeles. Kirk often took players to Las Vegas, and he himself was addicted to gambling pastime. During this time he became an avid gambler, but mostly only lost money rather than making a fortune.Kirk Kerkorian: biographyIn 1947, Kerkorian bought a charter airline that connected Los Angeles and Las Vegas for $60,000. In 1968, he sold the business for $102 million. In 1965, Kirk became the owner of a number of telecommunications companies, and his business was booming. The businessman gained respect among the Armenian Diaspora, which actively supported him by investing money in his companies. In 1968 Kerkorian bought TransAmerica for 85 million dollars, making him the biggest shareholder in the USA.
His gambling business began in 1962, when the entrepreneur bought land in Las Vegas, the amount of the deal was 960 thousand dollars. He leased the land and later sold it, making a total profit of $9 million. In 1967, the businessman bought the land for $5 million, on which he built the world’s largest hotel complex and casino. After a while he also sold it, but the deal was not as profitable as expected by Kirk. Next was the construction of famous hotels and casinos, which are flourishing to this day.
However, not everything went smoothly, and Kerkorian found himself in debt, sold some shares, but succeeded again.

Tags: Investors and Entrepreneurs
0
Previous Post How Nestle appeared: the history of the creation and development of the brand Next Post Taliban: the tax penalty in Afghanistan will be abolished

You Might Also Like

investor Cathie Wood
Investors and Entrepreneurs
Who is investor Cathie Wood and what makes her unique
08.07.2022
Businessman Parker Conrad
Investors and Entrepreneurs
Parker Conrad and his new startup after the Zenefits failure
10.09.2022
Françoise Bettencourt-Meyers
Investors and Entrepreneurs
The richest woman in the world – Françoise Bettencourt-Meyers
16.07.2022
Joe Lewis
Investors and Entrepreneurs
Joe Lewis: the billionaire who does business from a giant yacht
11.01.2022
Leslie Wexner
Investors and Entrepreneurs
Leslie Wexner: the secret to the success of the Victoria’s Secret brand owner
07.03.2021
Pavel Durov
Investors and Entrepreneurs
Programmer and businessman Pavel Durov: the story of the founding of VKontakte
24.07.2022

Recent Posts

  • 1Brookfield
    Brookfield and Closed Loop create the largest recycling company in the U.S.
    30.01.2023
  • 2Bybit
    Cryptocurrency exchange Bybit provided information about the volume of stored assets
    29.01.2023
  • 3Apple Search
    Apple Corporation is working on its own search engine, Apple Search
    28.01.2023
  • 4Tom Ford brand
    Estee Lauder made a deal to buy the fashion brand Tom Ford
    27.01.2023
  • 5Golden Visa
    The Golden Visa program has brought Portugal more than 6 billion euros during its existence
    26.01.2023

Popular Posts

  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses
  • A new gas field has been discovered near Turkey: details

Social media

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Latest Posts

Brookfield
Brookfield and Closed Loop create the largest recycling company in the U.S.
30.01.2023
Bybit
Cryptocurrency exchange Bybit provided information about the volume of stored assets
29.01.2023
Apple Search
Apple Corporation is working on its own search engine, Apple Search
28.01.2023

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh – an expert in marketing and project management, IT consulting, international investments, investor, financial analyst. A commodity trader, private consultant, entrepreneur, lecturer, author of several articles on the stock market.

Popular Posts

  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses
  • A new gas field has been discovered near Turkey: details
  • Morgan Stanley: forecast of global economic development for the near future
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram
  • Biography

Chaslau Koniukh – an expert in marketing and project management, international investments, financial analyst.

Social media

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics