Bloomberg Billionaires Index

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# 316 Kenneth Dart $5.84B

Random fact: Owns 220-foot yacht named after his mother Claire.

Overview

Dart owns Dart Enterprises, a Cayman Islands-based holding company invested in real estate, retail, finance and technology. Dart's subsidiaries include venture capital fund Active Capital, and real estate businesses Dart Realty and Decco. He's developed more than $1.3 billion in projects in the Cayman Islands.

As of :
Last change +$1.43M ( +0.0%)
YTD change +$1.27B ( +27.7%)
Industry Finance
Biggest asset Cash
Citizenship Cayman Islands
Age 64
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Kenneth Dart's net worth of $5.84B can buy ...

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troy ounces of gold
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barrels of crude oil

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Dart's fortune is derived from Dart Enterprises, a closely held holding company whose subsidiaries include real estate developer Dart Realty Cayman, venture capital fund Active Capital and hedge fund EM Ltd. Dart Enterprises includes the billionaire's family office.

Dart Enterprises holds $551 million in real estate, according to data from Real Capital Analytics as of August 2019. Dart Real Estate has developed more than $1.3 billion in projects, according to its website.

Through subsidiary Eastern Capital, Dart holds minority stakes in a number of biotech companies.

In the 1990s, Dart made more than $2 billion with bets on Salomon Inc., Federal Home Loan Mortgage Corp. and Brazilian debt, according to a 1995 Businessweek report. The value of his cash investments is based on past transactions according to the 1995 Businessweek report, other reports detailing his sovereign debt transactions, and an analysis of dividends, market performance and taxes for the years he remained a U.S. citizen. The calculation was updated in August 2019 to reflect Argentinian debt transactions that increased Dart's net worth by about $900 million.

Through Active Capital, Dart has interests in retailer Island Companies, Cayman Distributors, Blackbeard's Fine Wine & Spirits and Cayman Island Yacht Club.

He's one of three sons of William A. Dart, the founder of Mason, Michigan-based cupmaker Dart Container, who died in 2011. The billionaire stepped-down as president in 2014 and is no longer a shareholder, Dart Enterprises spokesman Tony Wilbert said in 2015. The asset is not included in the calculation.

No responses were received to requests for comment on Dart's net worth sent to Dart Enterprises representatives in August 2019.

Biography

Birthdate: 4/21/1955
Family: Married, 3 children
Education: University of Michigan

Kenneth Dart was born to Claire and William Dart in Michigan on April 21, 1955. His father and grandfather developed a machine that turned expandable polystyrene beads into plastic cups and created Dart Container, which remains part of Dart Enterprises.

Kenneth attended the University of Michigan and graduated in 1976 with a degree in mechanical engineering. He joined the family business after graduation and became president of Dart Containers ten years later, the same year the family restructured a trust that divided its assets equally between Kenneth and his two brothers, Tom and Bob. William died in 2011 and Ken stepped down as president in 2014 and continues to advise the company, Dart Enterprises spokesman Tony Wilbert said in 2015.

Dart gave up his U.S. citizenship, moved to Belize and became a citizen of Belize, according to Bloomberg Businessweek, in 1994. His application to become the consul of Belize in Sarasota, Florida was rejected by the State Department. He bought a local resort, the West Indian Club, for $5.3 million in 1995 and has since expanded his holdings to become the largest landholder in Cayman Islands after the crown, according to Dart Enterprises CEO Mark VanDevelde. Dart is now overseeing the expansion of his own resort, Camana Bay, which broke ground in 2005.

The billionaire is also involved in philanthropic activities with the Dart Center for Journalism and Trauma at Columbia's Graduate School of Journalism, and with the family foundation. He lives in the Cayman Islands while his wife Janice and three daughters live in Sarasota, Florida.

Dart's older brother, Thomas, founded Dart Energy in the 1980s. His younger brother, Robert, served as the head of Dart Container.

Milestones
  • 1955 Kenneth Dart is born to Claire and William Dart.
  • 1976 Graduates from the University of Michigan in mechanical engineering.
  • 1986 Becomes president of Dart Containers.
  • 1994 Gives up American citizenship.
  • 1994 Application to become consul of Belize rejected by State Department.
  • 1994 Buys the West Indian Club property in the Cayman Islands.
  • 1999 The Dart Center for Journalism and Trauma is founded in NYC.
  • 2005 Ground breaking on Camana Bay.