Bloomberg Billionaires Index

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# 151 Ron Perelman $10.1B

Random fact: Gave his first on-the-record interview in 1995 to Cigar Aficionado.

Overview

Perelman is chairman and owner of MacAndrews & Forbes, a closely held investment firm with stakes in a group of businesses including Humvee maker AM General, beverage sweetener company Flavors Holdings and payments and marketing business Harland Clarke. He's also a major shareholder of Revlon, a cosmetics company.

As of :
Last change -$86.2M ( -0.8%)
YTD change +$284M ( +2.9%)
Industry Diversified
Biggest asset Art Collection
Citizenship United States
Age 76
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Ron Perelman's net worth of $10.1B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
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
0%
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 Perelman's fortune is controlled through MacAndrews & Forbes, a holding entity that owns stakes in publicly traded and closely held companies.

Perelman's art assets are valued based on a $6 billion replacement price, according to a person familiar with the collection and insurance documents seen by Bloomberg. The amount is reduced by $3 billion, which is the assumed cost of the artwork.

Business services provider Harland Clarke Holdings had revenue of around $3.4 billion in 2018, according to a May 2019 Moody's report. It's valued using the average enterprise value-to-Ebitda of four publicly traded peers.

Liquorice maker Flavors Holdings had revenue of about $292 million last year, according to a January 2019 Moody's report, and is valued using the enterprise value-to-sales and enterprise value-to-Ebitda multiples of four publicly traded peers.

Perelman owns about 70% of Humvee maker AM General, according to October 2013 court filings with the State of Delaware. An October 2018 article cited earnings of $160 million and the company valued using the price-to-earnings ratio of publicly traded peer Oshkosh Corp.

Cash investments and other liquid assets, including real estate holdings, are valued based on information provided by the person familiar and uncorroborated.

Entertainment services company Deluxe Entertainment Services was removed from the analysis on Sept. 11, 2019 following reports that the company had agreed to hand over all of its equity in return for erasing some of its debt. It had previously been valued at about $2 billion. Another change, on Sept. 24, 2019, led to an increase in the carrying value of his AM General stake and a reduction to Harland Clarke, resulting in a fall of more than $1 billion on that day.

Biography

Birthdate: 1/1/1943
Family: Married, 8 children
Education: Wharton School of the University of Pennsylvania, Wharton School of the University of Pennsylvania

Born on New Year's Day 1943, Ronald Perelman learned the art of the deal from his father, Raymond, with whom he consummated his first buyout when he was 18 years old. After working for his father at night as foreman of a galvanizing factory while earning his MBA from the Wharton School, Ronald moved to New York and began buying and selling companies.

Perelman focuses on companies that are sometimes beleaguered, other times uncared for -- and almost always undervalued. Otherwise, there is little preference for industries where he invests, having profited in fields as diverse as tobacco (Consolidated Cigar), mortgage lending (Golden State Bancorp) and television stations (New World Communications Group).

Perhaps known best for his majority stake in cosmetics company Revlon, in which he first invested in 1985, Perelman has been an active supporter of breast cancer research, as well as medical research at several institutions in the New York and Philadelphia area. He owns one of the last large undivided Hamptons estates and an art collection that ranks among the world's most valuable, as measured by the Bloomberg Billionaires Index. He entered into his fifth marriage in 2010; his previous four often played out in the pages of the New York Post.

Milestones
  • 1966 Graduates with a master's degree from the Wharton School.
  • 1985 Wins control of Revlon after bidding war with Forstmann Little.
  • 2002 Sells Golden State Bancorp to Citigroup for $5.8 billion.
  • 2004 Purchases majority of AM General from Ira Rennert.
  • 2006 After five years of marriage, divorces actress Ellen Barkin.
  • 2006 Buys Hollywood film supplier Deluxe for $750 million.
  • 2010 Seventh child born. Dr. Anna Chapman is the mother.
  • 2013 Sells Harland Financial for $1.2 billion to Davis and Henderson Corp.