Kirk Kerkorian Biography

(Former President & CEO of 'Tracinda Corporation')

Birthday: June 6, 1917 (Gemini)

Born In: Fresno, California, United States

Kirk Kerkorian was an Armenian-American businessman, investor, and philanthropist. Known as one of the significant figures who shaped Las Vegas, he is also hailed as the ‘father of the mega resort’ along with architect Martin Stern Jr. Among his other achievements, he had built the world’s largest hotel in Las Vegas three times. Born in Fresno, California, Kerkorian was a boxer in his early days. During the World War II, instead of joining the infantry, he learned to fly and served in the Royal Air Force command. Later, he bought a single engine Cessna plane and offered rides to gamblers from Los Angeles to Las Vegas. After a few years, he bought 82 acres in Las Vegas and along with architect Martin Stern, he built the International Hotel, which at the time, was the largest hotel in the world. His business grew over the next few years, and he became a leading entrepreneur of the country. He was also a renowned philanthropist. Through his Lincy Foundation, he provided over $1 billion for charity in Armenia. He helped rebuild northern Armenia after the 1988 earthquake. In 2004, he was bestowed with the title of National Hero of Armenia, their highest state award.

3
Quick Facts

Also Known As: Kerkor Kerkorian

Died At Age: 98

Family:

Spouse/Ex-: Hilda Schmidt (m. 1942–1951), Jean Maree Hardy (m. 1954–1984), Lisa Bonder (m. 1999–1999)

children: Linda Kerkorian, Tracy Kerkorian

Born Country: United States

CEOs Investors

Died on: June 15, 2015

place of death: Beverly Hills, California, United States

U.S. State: California

City: Fresno, California

  • 1

    What businesses did Kirk Kerkorian invest in?

    Kirk Kerkorian invested in various industries, including airlines, casinos, and automotive companies. Some notable investments include MGM Studios, Chrysler Corporation, and the Las Vegas MGM Grand Hotel.
  • 2

    What impact did Kirk Kerkorian have on the automotive industry?

    Kirk Kerkorian played a significant role in reshaping the automotive industry by acquiring stakes in companies like Chrysler and General Motors. His investments influenced corporate decisions and strategies within these companies.
  • 3

    How did Kirk Kerkorian contribute to the development of Las Vegas?

    Kirk Kerkorian's investments in the Las Vegas casino industry, particularly with the MGM Grand Hotel, helped transform the city into a major entertainment destination. His contributions played a key role in the growth and modernization of Las Vegas.
  • 4

    What was Kirk Kerkorian's approach to business and investing?

    Kirk Kerkorian was known for his bold and strategic approach to business and investing. He was willing to take risks and make substantial investments in industries he believed had growth potential, often leveraging his financial acumen to make profitable deals.
  • 5

    How did Kirk Kerkorian's legacy impact the entertainment industry?

    Kirk Kerkorian's legacy in the entertainment industry is marked by his involvement in MGM Studios and his impact on the film and television business. His investments and influence helped shape the direction of the entertainment sector during his career.
Childhood & Early Life
Kerkor Kerkorian was born on 6th June 1917 in Fresno, California, in the US. He belonged to an immigrant family of Armenian origin. He had an older brother named Nishon Kerkorian and a younger sister whose name was Rose Kerkorian. His first language was Armenian and he learnt English much later.
His family moved to Los Angeles after the Depression of 1920-1921. As a young teenager he dropped out of school and trained himself in boxing. He soon became a skilled amateur boxer who fought under the name ‘Rifle Right Kerkorian’ and eventually won the Pacific amateur welterweight championship.
Recommended Lists:

Recommended Lists:

Continue Reading Below
Career
During the Second World War, Kirk Kerkorian didn’t wish to enter the military. Instead, he decided to spend the World War II as a civilian employee for Britain’s Royal Air Force. He flew Mosquito bombers from Canada to Scotland. Though this was highly profitable, it was also very risky. Kerkorian used to earn $1000 per flight.
Later in 1945, he bought a single engine Cessna plane for $5000, and started giving flying lessons alongside operating an occasional charter service. He primarily flew gamblers between Los Angeles and Las Vegas. Later he also purchased a small charter airline named Los Angeles Air Service. It was renamed to Trans International Airlines. Soon, he also became the first entrepreneur to offer charter jet services.
Kerkorian continued to operate the airline until 1968 when he finally decided to sell it to the Transamerica Corporation for $104 million. He also bought 82 acres of land in Paradise Road. Along with architect Martin Stern, he built the International Hotel, which was the largest hotel in the world at the time.
He also bought the Flamingo Hotel, though both the hotels were sold to the Hilton Hotels later. He purchased the Metro Goldwyn Mayer movie studio as well.
Along with Martin Stern Jr., he opened the MGM Grand Hotel and Casino in 1973, which was the largest hotel in the world at the time. It was even larger than the Empire State Building. Unfortunately, it caught a fire in 1980, which resulted in more than 60 deaths. It is considered as one of the worst disasters in Las Vegas history. Six years later, Kerkorian sold his MGM Grand Hotels in Las Vegas for $594 million.
Kirk Kerkorian became involved with the Chrysler Corporation in 1990. He helped increase the value of the company’s stock through a variety of maneuvers. Though he attempted a hostile takeover of the company in 1994, along with former chairman Lee Iacocca, he was unsuccessful. However, he reaped billions in profits from several stock buybacks from the company.
In 2005, he acquired a 9.9 percent stake in General Motors. In 2008, he started buying Ford Motor Company stock and acquired a 6% stake, for which he had to spend nearly a billion. The same year, he was named the 41st richest person in the world, according to Forbes magazine, with a net worth of $16 billion.
Major Works
Kirk Kerkorian is best remembered for building the world’s largest hotel in Las Vegas three times. In 1969, the International Hotel—with 2,956 hotel rooms including 305 suites—was opened. He proceeded to build even larger hotels twice in the ensuing years: the MGM Grand Hotel (1973) and the MGM Grand (1993).
Awards & Achievements
In 1998, Kirk Kerkorian was declared an honorary citizen of Armenia. He also received the title of ‘National Hero of Armenia’ in 2004.
He was named the 10th largest donor in the US by Time Magazine, in 2000.
Personal Life
Kirk Kerkorian was married three times. His first marriage was to Hilda Schmidt from 1942 to 1952. His next wife was Jean Maree Hardy, to whom he was married from 1954 to 1984. He had two daughters through his marriage, named Tracy and Linda. His third marriage was with professional tennis player Lisa Bonder. However, this marriage was quite short-lived.
Besides his business ventures, Kerkorian also founded the Lincy Foundation, which was named after his daughters Linda and Tracy. It has donated more than one billion dollars to various charities. Kerkorian, however, never allowed any donation to be named in his honor. The organization was dissolved in 2011.
He lived a long life and died of natural causes on June 15, 2015, aged 98.
Facts About Kirk Kerkorian
Kirk Kerkorian was an avid pilot and held a pilot's license, logging thousands of hours flying his own private aircraft.
Kerkorian once owned a small airline called Trans International Airlines, which he later sold for a significant profit.
He was known for his philanthropy, donating millions of dollars to various charitable causes, including education and healthcare.
Kerkorian was a savvy investor and businessman, known for his ability to spot opportunities in various industries, including film, hospitality, and automotive.
Despite his immense wealth, Kerkorian was known for his humble lifestyle and reportedly preferred to live a modest life away from the spotlight.

How To Cite

Article Title
- Kirk Kerkorian Biography
Author
- Editors, TheFamousPeople.com
Website
- TheFamousPeople.com
URL
https://www.thefamouspeople.com/profiles/kirk-kerkorian-35027.php

People Also Viewed

Elon Musk Biography
Elon Musk
(American)
 
Vincent McMahon Biography
Vincent McMahon
(American)
 
Mark Cuban Biography
Mark Cuban
(American)
 
Warren Buffett Biography
Warren Buffett
(American)
 
Jeff Bezos Biography
Jeff Bezos
(American)
 
Bill Gates Biography
Bill Gates
(American)
 
Mark Zuckerberg Biography
Mark Zuckerberg
(American)
 
Larry Ellison Biography
Larry Ellison
(American)