Kirk Kerkorian

Credit: William Cain - Getty Images

Introducing billionaire Kerker 'Kirk' Kerkorian.

Kerkorian was born June 6, 1917 in Fresno, California, the son of Armenian immigrant produce farmers. His net worth is estimated at $16 Billion and Mr. Kerkorian is listed as Forbes Magazine's 41st wealthiest individual in the world. He is the spry ninety-one year old largely credited for the development of Las Vegas.

Kerkorian dropped out of school in the 8th grade. Young Kerkorian took to boxing and earned the moniker Rifle Right Kerkorian en route to claiming a belt as the Pacific amateur welterweight champion. As a twenty-something, Kerkorian generated income by installing water heating wall furnaces. In 1939, he met Ted O'Flaherty while performing this occupation. Kirk Kerkorian developed a passion for aircraft while riding as a guest of O'Flaherty during a flying lesson.

Mr. Kerkorian was to secure his commercial pilot's license in 6 months.

With international conflict looming, this future mogul trained U.S. and British fighter pilots over the course of World War II. He also began ferrying surplus Canadian manufactured de Havilland Mosquito bombers across the Atlantic on behalf of The British Royal Air Force. Kerkorian won business by exploiting the dangerous Iceland Wave route - setting a transatlantic travel record of approximately 7 hours, at the time. Although timely, the route was marred by failed aircraft, frozen controls, and missing pilots. Kerkorian remained undaunted and the calculated gamble was a sign of things to come. 

The gentleman banked the majority of these war-time wages, parlaying the $5,000 into a Cessna plane. He functioned as a short haul pilot, post WWII. Although Kerkorian became increasingly drawn to the allure of Las Vegas in the early '40s, he was to quit small chip casino gambling in 1944 and begin placing wagers on entire businesses.  Kerkorian upped the ante and bought Trans International Airlines for $60,000. The charter flight company specialized in hauling gamblers from Los Angeles to Las Vegas. The businessman later sold Trans International to Transamerica in 1966.

The transaction registered a tidy $104 Million profit for Mr. Kerkorian.

Meanwhile, this eighth grade dropout continued raising the stakes, purchasing prime Las Vegas real estate throughout the sixties. Kerkorian bought 80 acres of raw land across The Strip from The Flamingo in 1962 for $960,000 [Kerkorian later acquired The Flamingo in 1967]. The acreage became the site of Caeser's Palace and the casino rented the land from Kerkorian. Caeser's Palace eventually bought the parcel, committing $9 Million in total rental and purchase payments by 1968.

Kerkorian, along with architect Martin Stern, Jr., developed 82 acres of Las Vegas Paradise Road land into the International Hotel. The venue opened in 1969, with Barbara Streisand and Elvis Presley as the headliners. The King was to tally 58 straight sellouts and draw an additional 4,200 fresh gamblers per night. Both the International Hotel and Flamingo were sold to Hilton in 1970.

Attracted by the stardom and glamour, Kerkorian was to buy filmmaker MGM in 1969. Kerkorian, again partnered with Stern to build MGM Grand Hotel and Casino within his very own image. The mogul increasingly distanced himself from the movie production segment of the company, actually auctioning off Dorothy's Wizard of Oz red slippers amidst the downsizing. He has bought and sold movie studio MGM three times since 1969, earning billions.

Mirage and Mandalay Bay have been added to the Las Vegas portfolio, awarding MGM Mirage with more than half of all available Las Vegas Strip hotel rooms.

Kerkorian is playing with house money, and has increased his personal take via legendary Detroit saber rattling. The billionaire at one time owned 9.9% of General Motors and aong with trusted lieutenant, Jerome York, initiated a campaign directing management into proposed agreements with Renault and Nissan. Kerkorian, rebuffed by GM CEO Rick Wagoner, sold the stock and General Motors shares were subsequently routed by the investment community. He subsequently lost out in a bidding war for Chrysler to Cerberus. 

Kirk Kerkorian has been married 3 times. His investment company, Tracinda is a tribute to his daughters Tracy and Linda by second wife and former Thuderbird dancer, Jean Maree Hardy. His third marriage to professional tennis player Lisa Bonder, forty-eight years his junior, has proven to be a fiasco. The marriage was annulled after one month in 1999.

Kerkorian accused a Mr. Steve Bing of fathering the child of Lisa Bonder. Although Kerkorian has been vindicated by DNA paternity testing, his means to that end have been called into question. Allegedly, private investigators, rifling through the garbage of Bing and Bonder located dental floss with which to procure the DNA to implement the initial tests.

Steve Bing is currently filing suit against Kirk Kerkorian and his legal team for breach of privacy. The billionaire has been associated with high-profile private investigator, Anthony Pellicano. Pellicano is currently facing a 110 count federal indictment for racketeering, wiretapping, and witness tampering.  

Kirk Kerkorian is 91 years old and religiously runs two miles per day. Contrary to his riches and Vegas mystique, Kerkorian has been known to eschew exotic cars in favor of Pontiac Firebirds and Jeep Grand Cherokees.