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Encyclopedia > Kirk Kerkorian
Kirk Kerkorian
Kirk Kerkorian
Born June 6, 1917 (1917-06-06) (age 90)
Flag of California Fresno, California, United States
Occupation CEO of Tracinda Corporation

Kerkor "Kirk" Kerkorian (born June 6, 1917) is an American billionaire, and president/CEO of Tracinda Corporation, his private holding company based in Beverly Hills, California. Kerkorian is known as one of the important figures in shaping the city of Las Vegas, Nevada, and the "father of the megaresort." Image File history File links Kirk_Kerkorian. ... June 6 is the 157th day of the year (158th in leap years) in the Gregorian calendar. ... 1917 (MCMXVII) was a common year starting on Monday of the Gregorian calendar (see link for calendar) or a common year starting on Tuesday of the 13-day slower Julian calendar (see: 1917 Julian calendar). ... Image File history File links Flag_of_California. ... Nickname: Location in the state of California County Fresno Government  - Mayor Alan Autry Area  - City 104. ... Tracinda Corporation is a private investment corporation owned by Kirk Kerkorian. ... June 6 is the 157th day of the year (158th in leap years) in the Gregorian calendar. ... 1917 (MCMXVII) was a common year starting on Monday of the Gregorian calendar (see link for calendar) or a common year starting on Tuesday of the 13-day slower Julian calendar (see: 1917 Julian calendar). ... Forbes magazine annually lists the worlds wealthiest individuals: The Worlds Billionaries. ... A Chief Executive Officer (CEO), or Chief Executive, is the highest-ranking corporate officer, administrator, corporate administrator, executive, or executive officer, in charge of total management of a corporation, company, organization or agency. ... Tracinda Corporation is a private investment corporation owned by Kirk Kerkorian. ... Beverly Hills is a city in the western part of Los Angeles County, California. ... For further information, see Las Vegas metropolitan area and Las Vegas Strip. ... Megaresorts integrate the services offered by a hotel, casino, dining, entertainment, and shopping into a single, large, and highly stylized or themed venue. ...


Kerkorian splits his time between his residences in Beverly Hills and Nevada. there is a jungle in nevada by the park This article is about the U. S. state of Nevada. ...


One of the richest residents of Beverly Hills, he may also be the most private. He almost never gives interviews and seldom appears in public. Even though his charitable foundation has dispensed more than $200 million,[1] he has never allowed anything to be named in his honor.


His net worth in 2007, according to Forbes Magazine, is $15.0 billion. This article or section does not adequately cite its references or sources. ...

Contents

Biography

Kerkor Kerkorian was born in 1917 in Fresno, California, to Armenian immigrant parents.[2] Dropping out of school in 8th grade, under the tutelage of his older brother, became a fairly skilled amateur boxer, fighting under the name "Rifle Right Kerkorian" to win the Pacific amateur welterweight champion. Kerkorian's son is James Davis. 1917 (MCMXVII) was a common year starting on Monday of the Gregorian calendar (see link for calendar) or a common year starting on Tuesday of the 13-day slower Julian calendar (see: 1917 Julian calendar). ... Nickname: Location in the state of California County Fresno Government  - Mayor Alan Autry Area  - City 104. ...


Flying

In 1939 he met Ted O'Flaherty, for whom he fitted install wall furnaces to heat water. O'Flaherty was taking flying lessons, and having taken no interest Kerkorian took a guest seat one day and was converted on the views of the Californian coast. Year 1939 (MCMXXXIX) was a common year starting on Sunday (link will display the full calendar) of the Gregorian calendar. ...


On sensing the oncoming World War Two, and not wanting to join the infantry, he learned to fly at Happy Bottom Ranch in the Mojave Desert - adjacent to the USAF's Muroc Field, now Edwards Air Force Base. He traded flying lessons for looking after, milking and cleaning up the cows owned by instructor Florence "Pancho" Barnes, a pioneer female aviator. This article is becoming very long. ... Infantry of the Royal Irish Rifles during the Battle of the Somme in World War I. Infantry are soldiers who fight primarily on foot with small arms in organized military units, though they may be transported to the battlefield by horses, ships, automobiles, skis, or other means. ... For the indigenous American tribe, see Mohave. ... Seal of the Air Force. ... Edwards Air Force Base (IATA: EDW, ICAO: KEDW) is a United States Air Force airbase located on the border of Kern County and Los Angeles County, California in the Antelope Valley, 7 miles (11 km) due east of Rosamond. ...


On gaining his commercial pilot's license in six months, Kerkorian learned that the British Royal Air Force was ferrying Canadian built de Havilland Mosquitos over the north Atlantic to Scotland. The Mosquito's fuel tank carried enough fuel for 1,400 miles, while the trip directly was 2,200 miles. Rather than take the safer route Montreal-Labrador-Greenland-Iceland-Scotland route (although, going further north could mean the wings icing and distorting, and the plane crashing); Kerkorian preferred the direct "Iceland Wave" route which blew the planes at jet-speed to Europe - but it wasn't constant, and could mean ditching. The fee was $1,000 per flight, but the statistics were that only one in four completed the journey.[3] In May 1944, Kerkorian and his Wing Commander J.D. Woolridge rode the wave and broke the old crossing record. Woolridge got to Scotland in six hours, 46 minutes; Kerkorian, in seven hours, nine minutes. In two and a half years, Kerkorian delivered 33 planes, logged thousands of hours, traveled to four continents and flew his first four-engine plane. The Royal Air Force (RAF) is the air force branch of the British Armed Forces. ... The de Havilland Mosquito[1] was a British combat aircraft that excelled in a number of roles during the Second World War. ... The Atlantic Ocean forms a component of the all-encompassing World Ocean and is directly linked to the Arctic Ocean, the Pacific Ocean, the Indian Ocean, and the Southern Ocean. ... Motto (Latin) No one provokes me with impunity Cha togar mfhearg gun dioladh (Scottish Gaelic)1 Wha daur meddle wi me?(Scots)1 Anthem (Multiple unofficial anthems) Scotlands location in Europe Capital Edinburgh Largest city Glasgow Official languages English, Gaelic, Scots Government Constitutional monarchy  -  Queen Queen Elizabeth II... 1944 (MCMXLIV) was a leap year starting on Saturday. ... Wing Commander (rank) is a rank in the Royal Air Force, equivalent to a Lieutenant Colonel in most Armies, the Royal Marines and the United States Marine Corps. ...


After the war, having saved most of his wages, Kerkorian spent $5,000 on a Cessna. He worked as a general aviation pilot, and made his first visit to Las Vegas in 1944. After spending much time in Las Vegas during the 1940s, Kerkorian quit gambling and in 1947 paid $60,000 for TransInternational Airlines, which was a small air-charter service which flew gamblers from Los Angeles to Las Vegas. He then bid on some war surplus bombers, using money on loan from the Seagrams family. Gasoline, and especially airplane fuel, was in short supply at the time, so he sold the fuel from the planes' tanks, paid off his loan - and still had the airplanes. He operated the airline until 1968 when he sold it for $104 million to Trans-America Corporation.[4] Cessna Aircraft Company, headquartered in Wichita, Kansas, is a manufacturer of general aviation aircraft, from small two-seat, single-engine aircraft to business jets. ... For further information, see Las Vegas metropolitan area and Las Vegas Strip. ... 1944 (MCMXLIV) was a leap year starting on Saturday. ... 1947 (MCMXLVII) was a common year starting on Wednesday (the link is to a full 1947 calendar). ... The Seagram Company Ltd. ... Year 1968 (MCMLXVIII) was a leap year starting on Monday (link will display full calendar) of the 1968 Gregorian calendar. ...


Kerkorian and Las Vegas

Kerkorian made his first visit to Las Vegas in 1944 as a Cessna pilot. In 1962, Kerkorian bought 80 acres (32.3 hectares) in Las Vegas, across The Strip from the Flamingo, for $960,000. This purchase led to the building of Caesars Palace, which rented the land from Kerkorian; the rent and eventual sale of the land to Caesars in 1968 made Kerkorian $9 million. Cessna Aircraft Company, headquartered in Wichita, Kansas, is a manufacturer of general aviation aircraft, from small two-seat, single-engine aircraft to business jets. ... An acre is the name of a unit of area in a number of different systems, including Imperial units and United States customary units. ... A hectare (symbol ha) is a metric unit of surface area, equal to 100 ares (the name is a contraction of the SI prefix hecto + are). ... For further information, see Las Vegas metropolitan area and Las Vegas Strip. ... The south end of The Strip. ... Caesars Palace is a hotel and casino located on the Las Vegas Strip in Las Vegas, Nevada. ...


In 1967, he bought 82 acres (33 hectares) of land on Paradise Road in Las Vegas for $5 million and, with architect Martin Stern,[5] built the International Hotel, which at the time was the largest hotel in the world; The first two performers to appear at the hotel's enormous Showroom Internationale were Barbra Streisand and Elvis Presley. Presley brought in some 4,200 customers (and potential gamblers), every day, for 30 days straight, breaking in the process all attendance records in the city's history. Kerkorian's International Leisure also bought the Flamingo Hotel (which later sold the Flamingo to the Hilton Hotels Corporation in 1970). The International Hotel is known today as the Las Vegas Hilton. Until about 2000, the Flamingo was known as the Flamingo Hilton. Martin Stern, Jr. ... The Las Vegas Hilton is a hotel, casino, and convention center in Las Vegas, Nevada owned by Colony Capital. ... Barbra Joan Streisand (born April 24, 1942) is an Academy Award-winning American singer, theatre and film actress, composer, liberal political activist, film producer and director. ... Elvis Aron Presley (January 8, 1935 – August 16, 1977), often known simply as Elvis and also called The King of Rock n Roll or simply The King, was an American singer, musician and actor. ... The Flamingo Las Vegas is a hotel casino located on the famed Las Vegas Strip in Las Vegas, Nevada, and is owned and operated by Harrahs Entertainment. ... Hilton Hotels Corporation (NYSE: HLT) operates several brands of hotels and is headquarted in Beverly Hills, California. ... The Las Vegas Hilton is a hotel, casino, and convention center in Las Vegas, Nevada owned by Colony Capital. ... The Flamingo in 1947 The Flamingo Las Vegas is owned and operated by Harrahs Entertainment and is located on the Las Vegas Strip in Las Vegas, Nevada. ...


In 1973 he purchased MGM, the famous movie studio. Again with the architect Martin Stern, Kerkorian and MGM opened the original MGM Grand Hotel and Casino, which was the largest hotel in the world at the time it was finished. On November 21, 1980, the original MGM Grand burned in a fire that was one of the worst disasters in Las Vegas history. The Las Vegas Fire Department reported 84 deaths in the fire; there were 87 deaths total, including three which occurred later as a result of injuries sustained in the fire. Amazingly, the MGM Grand reopened after only 8 months. Almost three months after the MGM fire, the Las Vegas Hilton caught fire, killing eight people. The MGM Grand Hotel and Casino was a hotel and casino located on the Las Vegas Strip at the intersection with Flamingo Road. ... November 21 is the 325th day of the year (326th in leap years) in the Gregorian calendar. ... Year 1980 (MCMLXXX) was a leap year starting on Tuesday (link displays the 1980 Gregorian calendar). ... Deadly smoke rises from the casino towards the top floors of the luxurious resort. ... The Las Vegas Hilton is a hotel, casino, and convention center in Las Vegas, Nevada owned by Colony Capital. ...


In 1986, Kerkorian sold the MGM Grand hotels in Las Vegas and Reno for $594 million to Bally. Spun off from Metro-Goldwyn-Mayer, MGM Mirage owns and operates several properties, including the Bellagio, the current MGM Grand resort complex (where the Marina Hotel once stood), The Mirage, Treasure Island, the New York-New York, and what was once the Boardwalk in Las Vegas. They also own the Beau Rivage Casino in Biloxi, Mississippi. City nickname: The Biggest Little City in the World Founded May 9, 1868 County Washoe County Mayor Bob Cashell Area  - Total  - Land  - Water 179. ... Bally Technologies logo Bally (with its distinctive Rolling Ball logo) Bally Technologies, Inc. ... For alternate meanings of MGM, see MGM (disambiguation). ... MGM MIRAGE (NYSE: MGM) is a Las Vegas, Nevada-based business engaged in the development, ownership and operation of hotels and casinos throughout the world. ... Bellagio is a hotel and casino located on the Las Vegas Strip in Las Vegas, Nevada, USA. It is owned by MGM Mirage. ... “MGM Grand” redirects here. ... The Mirage is a 3,049 room hotel and casino resort located on the Las Vegas Strip in Las Vegas, Nevada. ... ti Resort (formerly known as Treasure Island). ... New York-New York Hotel & Casino is a hotel and casino located on the famed Las Vegas Strip at 3790 Las Vegas Boulevard South, Las Vegas, Nevada. ... Categories: Stub | Hotels of the United States | Casinos | Las Vegas ... Biloxi Lighthouse (of 1848) Biloxi () is a city in Harrison County, Mississippi, in the U.S.. The 2000 census recorded the population as 50,644. ...


MGM

In 1969, Kerkorian appointed James T. Aubrey, Jr. MGM's president. Aubrey downsized the struggling MGM and sold off massive amounts of historical memorabilia, including Dorothy's ruby slippers (from The Wizard of Oz). Kerkorian sold MGM's distribution system in 1973, and gradually distanced himself from the daily operation of the studio. In 1979, Kerkorian issued a statement claiming that MGM was now primarily a hotel company; however, he also managed to expand the overall film library and production system with the purchase of United Artists in 1981. In 1986 he sold the studios to Ted Turner. James T. Aubrey, circa 1959. ... Dorothy Gale is a fictional character based on Dorethy (Neilson)(Cartwright)Hughes of Western Australia against her will(born 1915), the protagonist of most of the Oz novels by American author L. Frank Baum. ... The original ruby slippers used in The Wizard of Oz; now on display at the Smithsonean. ... The Wizard of Oz is a 1939 musical fantasy film produced by Metro-Goldwyn-Mayer. ... The current United Artists logo (a variant was used during the 1980s). ... This article or section does not cite any references or sources. ...


Turner kept ownership of the combined MGM/UA for 74 days. Both studios had huge debts and Turner simply could not afford to keep them under those circumstances; to recoup his investment, he sold all of United Artists and the MGM trademark back to Kerkorian. The studio lot was sold to Lorimar-Telepictures, which was later acquired by Warner Bros.; in 1990, the lot was sold to Sony Corporation's Columbia TriStar Pictures in exchange for the half of Warner's lot they'd rented since the 1970s. Also in 1990, the MGM studio was purchased by Italian financier Giancarlo Parretti, but Parretti defaulted on the loans he'd used to buy the studio and sold the studio back to Kerkorian in 1996. Lorimar-Telepictures was a television syndication firm established in 1986 with the merger of Lorimar and Telepictures. ... Warner Bros. ... Sony Corporation ) is a Japanese multinational corporation and one of the worlds largest media conglomerates with revenue of $68. ... The Columbia Pictures logo from 1993 to the present Columbia Pictures Industries, Inc. ... Giancarlo Parretti is an Italian financier. ...


In 2005 Kerkorian sold MGM once more to a consortium led by Sony. He retains a 55% stake in MGM Mirage. MGM MIRAGE (NYSE: MGM) is a Las Vegas, Nevada-based business engaged in the development, ownership and operation of hotels and casinos throughout the world. ...


On 22 November 2006 Kerkorian's Tracinda investment corporation offered to buy 15 million shares of MGM Mirage to increase his stake in the gambling giant to 61.7% from 56.3%, if approved.[6] November 22 is the 326th day (327th on leap years) of the year in the Gregorian calendar. ... For the Manfred Mann album, see 2006 (album). ... MGM MIRAGE (NYSE: MGM) is a Las Vegas, Nevada-based business engaged in the development, ownership and operation of hotels and casinos throughout the world. ...


General Motors

Kerkorian once held 9.9 percent of G.M. shares. According to press accounts from June 30, 2006, Kerkorian has suggested that Renault acquire a 20 percent stake in GM to rescue GM from itself. A private letter sent to Rick Wagoner was released to the public to add pressure upon the General Motors executive hierarchy. Those talks have since failed.[7] June 30 is the 181st day of the year (182nd in leap years) in the Gregorian calendar. ... For the Manfred Mann album, see 2006 (album). ... Renault S.A. is a French vehicle manufacturer producing cars, vans, buses, tractors, and trucks. ... George Richard Rick Wagoner, Jr. ...


On Wednesday November 22, 2006 Kerkorian sold 14 million shares of his GM stake. It is speculated that this action was due to GM's rejection of Renault and Nissan's bids for stakes in the company as both of these bids were strongly supported by Kirk. The sale resulted in GM share prices falling 4.1% from its Monday 20 November price. The sale lowered Kerkorian's holding to approx. 7.4% of GM. On November 30, 2006 Tracinda Corp. investment firm said it had agreed to sell another 14 million shares of General Motors Corp., cutting Kerkorian's stake in the automaker to half of what he owned earlier that year. Later on he sold the remaining shares of GM, and left GM for good.[8] November 22 is the 326th day (327th on leap years) of the year in the Gregorian calendar. ... For the Manfred Mann album, see 2006 (album). ... November 20 is the 324th day of the year (325th in leap years) in the Gregorian calendar. ... November 30 is the 334th day of the year (335th in leap years) in the Gregorian calendar. ... For the Manfred Mann album, see 2006 (album). ...


Daimler-Chrysler

On April 5, 2007 Kirk Kerkorian made a $4.58 billion bid for the Chrysler Group, the U.S. arm of Daimler-Chrysler. Since Daimler-Chrysler announced they were interested in selling the Chrysler division on February 14, large investors such as Cerberus Capital Management, The Blackstone Group and Magna International each announced intentions to bid on the company. Kerkorian's bid, while not expected, is not surprising given his long involvement in the U.S. automobile industry. During the bidding process, he will be aided by his close associate Jerome York who was a former CFO at both Chrysler and IBM. As of May 14, 2007 80% of the Chrysler arm of Daimler-Chrysler was sold to Cerberus for $7.4 billion. April 5 is the 95th day of the year (96th in leap years) in the Gregorian calendar. ... 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... For other uses, see Chrysler (disambiguation). ... DaimlerChrysler AG (ISIN: DE0007100000) is a German car corporation and the worlds fifth largest car manufacturer. ... February 14 is the 45th day of the year in the Gregorian calendar. ... Cerberus Capital Management LP is one of the largest private equity investment firms in USA. The firm is based in New York, N.Y., and run by 47-year-old financier Steve Feinberg. ... The Blackstone Group is a private investment and advisory firm founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman. ... Magna International Inc. ... Jerome B. York, commonly known as Jerry York, is an American businessman, and the Chairman, President and CEO of Harwinton Capital. ... International Business Machines Corporation (known as IBM or Big Blue; NYSE: IBM) is a multinational computer technology and consulting corporation headquartered in Armonk, New York, USA. The company is one of the few information technology companies with a continuous history dating back to the 19th century. ... May 14 is the 134th day of the year (135th in leap years) in the Gregorian calendar. ... 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ...


Personal life

Married three times, Kerkorian met his second wife Jean Maree Hardy, a former dancer at the Thunderbird, in Las Vegas. The marriage produced Kerkorian's two daughters, Tracy and Linda. Kerkorian's personal holding company - Tracinda Corp - is a portmanteau of the two girls names. Also named after his two daughters, Kerkorian's Lincy Foundation has made huge charitable contributions, much of this to Armenian causes. The Thunderbird Hotel was a Las Vegas, Nevada hotel/casino that operated from September 2, 1948 to July 6, 1992, and was the fourth resort to open on the Las Vegas Strip. ... A portmanteau (IPA pronunciation: ) is a word or morpheme which fuses two or more words or parts of words to give a combined or loaded meaning. ...


Kerkorian's third marriage was to professional tennis player Lisa Bonder, which under a prenuptial agreement lasted for one month in 1999. He subsequently was involved in a breach of privacy suit filed against him by Steve Bing. Kerkorian claimed Bing was the father of Bonder's daughter, which was later established by DNA testing. On August 10, 2006, the Los Angeles Times reported that Kerkorian's attorneys were being sued by Bonder because of their connection to former high-profile private investigator Anthony Pellicano, who presently faces a 110-count federal indictment for racketeering, wiretapping, witness tampering, and other charges. Bonder's attorney alleges that Kerkorian's lawyers hired Pellicano to wiretap telephone calls illegally between him and Kerkorian's ex-wife in order to gain a tactical advantage in the divorce proceedings.[9] For other uses, see Tennis (disambiguation). ... // Definition A prenuptial agreement or antenuptial agreement, commonly abbreviated to prenup or prenupt, is a contract entered into by two people prior to marriage or civil union. ... Year 1999 (MCMXCIX) was a common year starting on Friday (link will display full 1999 Gregorian calendar). ... Stephen Leo Bing (b. ... A paternity test is conducted to prove paternity, that is, whether a man is the biological father of another individual. ... August 10 is the 222nd day of the year (223rd in leap years) in the Gregorian calendar. ... For the Manfred Mann album, see 2006 (album). ... The Los Angeles Times (also known as the LA Times) is a daily newspaper published in Los Angeles, California and distributed throughout the Western United States. ... Anthony Pellicano (born March 22, 1944, in Chicago, Illinois) is a former high-profile Los Angeles private investigator who recently served a sentence in federal prison for illegal possession of explosives and who was arrested on February 4, 2006, on unlawful wiretapping and racketeering charges. ...


Kerkorian often plays tennis with Alex Yemenidjian. He has a penchant for expensive clothes (especially custom-made outfits by Italian designer Brioni), but drives relatively low cost vehicles such as a Pontiac Firebird, Jeep Grand Cherokee and a Ford Taurus.[10] Brioni logo Brioni is a high fashion clothing company founded in 1945. ... This article or section does not cite any references or sources. ... The Jeep Grand Cherokee is a mid-size sport utility vehicle produced by the Jeep division of DaimlerChrysler. ... The Ford Taurus is a mid-size, front wheel drive car manufactured by the Ford Motor Company in North America. ...


References

  1. ^ http://www.armenialiberty.org/armeniareport/report/en/2005/05/AB551BCD-E9AC-4259-91B7-6D63E1A8DC60.asp
  2. ^ Los Angeles Business Journal Lists Richest Angelenos
  3. ^ Torgerson, Dial "Kerkorian, An American Success Story" biography pub 1974
  4. ^ http://www.freep.com/apps/pbcs.dll/article?AID=/20060701/BUSINESS01/607010345/1014/BUSINESS01
  5. ^ http://www.library.unlv.edu/speccol/martinstern.html
  6. ^ http://www.forbes.com/markets/commodities/2006/11/22/kirk-kerkorian-update-markets-equity-cx_rs_1122markets11.html
  7. ^ http://www.nytimes.com/2006/10/04/business/04cnd-auto.html?ex=1317614400&en=6862ffe1f804de60&ei=5088&partner=rssnyt&emc=rss
  8. ^ http://money.cnn.com/2006/11/30/news/companies/kerkorian_gm/index.htm?cnn=yes
  9. ^ http://www.latimes.com/entertainment/news/la-me-briefs10.3aug10,1,1738724,print.story?coll=la-utilities-entnews
  10. ^ http://www.latimes.com/classified/automotive/news/la-fi-chrysler6apr06,0,5539938.story?coll=la-classifieds-autos-news

External links


  Results from FactBites:
 
Kirk Kerkorian - Armeniapedia.org (1765 words)
Kerkorian is known as one of the important figures in shaping the city of Las Vegas, Nevada and the "father of the megaresort".
Kerkor "Kirk" Kerkorian was born in 1917 in Fresno, California to Ahron and Lily, Armenian immigrants.
Kerkorian also announced at that time he would not be purchasing additional shares which he had filed with the SEC his intentions to.
Kirk Kerkorian - Wikipedia, the free encyclopedia (1460 words)
Kerkorian is known as one of the important figures in shaping the city of Las Vegas, Nevada, and the "father of the megaresort."
Kerkor "Kirk" Kerkorian was born in 1917 in Fresno, California, to Armenian immigrant parents.
Kerkorian claimed Bing was the father of Bonder's daughter, which was later established by DNA testing.
  More results at FactBites »

 
 

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