Ron Burkle Net Worth
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4 min read
Ron Burkle Net Worth and Success Story
| Category | Information |
|---|---|
| Net Worth | $2 billion |
| Salary | Not available |
| Birthdate | November 12, 1952 |
| Birthplace | Pomona, California |
| Gender | Male |
| Height | Not available |
| Profession | Businessman |
| Nationality | American |
Highlights
Ron Burkle, an American businessman and founder of the private equity firm Yucaipa Companies, has a net worth of $2 billion. He is known for his successful career in various industries and his involvement in philanthropic activities. Born in Pomona, California, Ron Burkle has achieved significant success through his business ventures and investments.
Early Life
Ron Burkle was born Ronald Wayne Burkle on November 12, 1952, in Pomona, California. Growing up, he worked at a Stater Bros. grocery store, where his father was the manager. By the age of 13, he became a member of the United Food and Commercial Workers Union Local 770. However, a poolside accident led to two broken legs, forcing him to leave school and his job to recover. Despite these setbacks, Burkle graduated from high school at the age of 16 and briefly studied dentistry at California State Polytechnic University, Pomona.
In his twenties, Burkle ventured into investing, making $30,000 from initial investments in metals companies. He used these earnings to flip grocery stores in underserved neighborhoods. His career in the retail industry progressed as he became the president of Stater Bros.’ parent company, Petrolane Inc. However, he faced adversity when his buyout offer for Stater Bros. was rejected, leading to his termination. Despite this setback, Burkle’s portfolio was already worth around $5 million, which he managed through stock investments and rental properties.
Career
Ron Burkle founded Yucaipa Companies, a private equity firm, in 1986. The firm has invested in various industries, including entertainment, sports, food, and hospitality. Burkle gained recognition during the Los Angeles riots in 1992 when he kept his inner-city stores open, providing essential services to the community.
One of Burkle’s notable investments was his involvement in saving the Pittsburgh Penguins from bankruptcy in 1999, together with former player Mario Lemieux. Under his ownership, the Penguins won the Stanley Cup multiple times, cementing their success as the only championship-winning sports team in North America with ties to private equity.
Apart from his involvement in sports, Ron Burkle has made significant investments in technology startups. He co-founded the venture capital fund A-Grade Investments with Guy Oseary and Ashton Kutcher, which included investments in companies like Uber, SoundCloud, Spotify, and Airbnb. He has also invested in technology startups through Inevitable Venture.
Personal Life
Ron Burkle was married to Janet Steeper, a former Stater Bros. clerk, and they have three children together. Unfortunately, their son Andrew passed away in January 2020. Burkle has owned iconic items such as Jesse Owens’ Olympic gold medal, William Faulkner’s Nobel Prize for literature, and the Ennis House by Frank Lloyd Wright.
In addition to his business pursuits, Ron Burkle is actively involved in philanthropy. He donated $15 million towards the construction of downtown L.A.’s Walt Disney Concert Hall in 1997. He also established The Ronald W. Burkle Foundation, which aims to positively influence communities worldwide through various programs. Burkle has supported charities such as the American Cancer Society, AIDS Project Los Angeles, and Teach for America.
Net Worth Over Time
Ron Burkle’s net worth has steadily grown over the years, reaching an estimated $2 billion. Through his successful investments and business ventures, Burkle has accumulated significant wealth and established himself as a prominent figure in the business world.
Components of Net Worth
Ron Burkle’s net worth is primarily derived from his successful career as a businessman, investor, and founder of Yucaipa Companies. His investments in various industries, including private equity, entertainment, sports, and technology startups, have played a significant role in building his wealth. Burkle’s ownership of the Pittsburgh Penguins also contributes to his net worth. Additionally, his extensive real estate holdings, including luxurious properties in California and other locations, add to his overall net worth.
In conclusion, Ron Burkle’s net worth of $2 billion reflects his remarkable success as a businessman and investor. From his early experiences working in a grocery store to becoming the founder of a private equity firm and owning a championship-winning sports team, Burkle has achieved significant milestones throughout his career. Furthermore, his commitment to philanthropy highlights his desire to make a positive impact on communities around the world. With his diverse investments and business ventures, Ron Burkle continues to solidify his position as a prominent figure in the business and financial world.
