Rainmakers
#9 Kerkorian's Second Act: Redefining Industries
May 9, 2024
Exploring Kirk Kerkorian's investment methods after dealing with debt from MGM, his strategic acquisitions in Hollywood and the casino industry, his bold ventures in creating luxurious resorts in Las Vegas under the MGM brand, and his diversification into the automotive sector through strategic investments.
43:15
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Quick takeaways
- Kirk Kerkorian leveraged strategic moves in airlines and casinos to build wealth.
- Kerkorian navigated challenges in film and automotive industries with strategic decisions and shareholder activism.
Deep dives
Kirk Kirkorian's Success in the Airline Business and Casino Ventures
Kirk Kirkorian's successful ventures in the airline business, starting with a $2.5 million investment turning into $104 million, followed by his entry into the casino business by amassing property on the strip to build a major casino. His strategic moves in the casino industry, such as leasing land to Jay Sarno for the first major resort, and founding the International Hotel. Despite funding challenges for the International Hotel, Kirkorian's IPO success with International Leisure enabled him to build the iconic International Hotel, becoming one of the richest Americans.
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