Ronald Perelman Net Worth

Ronald Owen Perelman Net Worth

Real Name: Ronald Owen Perelman
Date of Birth: 01/01/1943
Place of Birth: Greensboro, North Carolina

2019 Net Worth: $14.6 Billion
2018 Earnings:

Profession: Investor, Businessman, Owner of MacAndrews & Forbes Holdings, Inc.

Ronald Perelman Biography

Ronald Perelman was born in Greensboro, North Carolina to a father who was a successful businessman in his own right. When Perelman was only 11 years of age, he was already sitting in on board meetings for his father’s company, American Paper Products. Perelman’s father was a harsh teacher, according to interviews Perelman has given. He followed in his father’s educational footsteps, however, and majored in Business at the University of Pennsylvania. He completed his Master’s Degree in 1966.

During his freshman year in college, Perelman and his father bought the Esslinger Brewery for $800,000, and then sold it 3 years later for $1.8 million. Perelman went to work for his father at Belmont Iron Works (now called Belmont Industries) learning how to follow his father’s business model which was to buy an ailing company, sell off division that were not necessary in order to reduce debt, then bring the company back into a profitable status and keep it for the cash flow, or sell it at a profit. After 12 years, Perelman became the vice president of Belmont but his father refused to relinquish power, so Perelman quit and moved to New York.

As an independent investor, he began to follow his father’s business practices, first by buying Cohen-Hatfield Jewelers for $1.9 million, then selling it within one year for $15 million. He then bought MacAndrews and Forbes, which has since become a holding company with a diversified portfolio including Revlon, TransTech Pharma, AM General, Sunbeam, and New World Entertainment.

Perelman is one of the wealthiest men in America with two luxurious yachts, two private jets, a helicopter, an estate in Georgia worth $12.5 million. He loves to vacation on his lavish St Barth Island property. With a net worth of $14.6 billion, Perelman is sure to continue to increase his earnings and overall net worth using his father’s business plan.

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