Kirk Kerkorian - From a street boy to an American billionaire thanks to his blood

Kirk Kerkorian is an Armenian-American businessman, investor and philanthropist. He is the chairman and CEO of Tracinda Corporation, his private equity firm based in Beverly Hills, California. But few people know that, before having a billion-dollar fortune, Kirk Kerkorian tried and made efforts from empty hands.

Billionaire with a poor background

Kirk Kerkorian was born in 1917 into an impoverished Armenian family. His family was among the poorest among immigrants to the United States at that time. His family had to live in the slums and had to spend every difficult day in America. Kirk Kerkorian had to drop out of school early to help his family earn a living. He had to work from a very young age to support himself and help his parents through the difficult first years of immigrating to the United States.

The boy Kirk Kerkorian is very hardworking and hardworking. From selling newspapers to jobs that are too much for a boy such as kitchen assistant, waiter... he can't earn a living from any job. Growing up on the street, Kirk Kerkorian became a cunning, experienced and money-hungry boy. He is willing to quit his current job if there is a higher paying job.

Besides the cunning, cunning of a street boy, God has endowed Kirk Kerkorian with a very good health. At just 14 years old, Kirk Kerkorian was already a young man. He took on quite hard jobs such as gardening for hire, harvesting fruit for farm owners. Kirk Kerkorian loves to learn martial arts and loves to play boxing. But it's also a livelihood, he is more eager to earn money than that.

And in order to have money to live, the boy did not even get tired of practicing as a boxer, despite the risk of permanent injury for life or losing his life like playing. Kirk Kerkorian has dared to challenge many people just for money. He once risked his life to challenge even boxers who were judged on absolute strength by the attractive prize money.

Perhaps the blood of Kirk Kerkorian, a later wealthy businessman, was there and followed him throughout his life. Until later, when he was the richest billionaire in America, people still mentioned his name as a boxer of an old time.

When he no longer had to worry about food and clothing every day, Kirk Kerkorian immediately thought about getting rich. Just like being willing to make a living in any profession, Kirk Kerkorian seeks to get rich in many ways. He did all sorts of things to make a lot of money.

Over the past few decades, no matter how the industry and economic situation has changed, Kerkorian has executed this model quite well. Kerkorian is especially fond of cars. Kirk Kerkorian's first business career began in the world of used cars. The cunningness from childhood and the desire to make money gave Kirk Kerkorian his first lessons and success in trading in the market.

He seemed to fit in well and reveled in this kind of money-making over and over again. In his business life, Kirk Kerkorian traded all sorts of things. And the buying and selling style of Kirk Kerkorian is unlikely to be imitated by many. It was both a mischief and a reckless venture.

Make money any way

Kerkorian first invested in a Chrysler car company in 1990, when Chrysler's stock fell to just $9 due to the U.S. recession and its very poor management model. Kerkorian believes that Chrysler's share price reflects economic problems, but it does not at all reflect economic resilience. So, Kerkorian bought 36 million Chrysler shares for $10, or 10% of the company's value, and became Chrysler's largest shareholder. By early 1994, the value of his shares had grown to $60 per share.

In 1995, Kerkorian said through his research that he thought Chrysler might have better strategies for increasing stock value. Then, under the leadership of CEO Lee Lacocca, the company's stock price reached a new high. Kerkorian determined that his more than 500% return on investment was not enough. He believes that Chrysler's value is still undervalued. So he decided to invest $23 billion to buy the entire company.

Chrysler at the time turned down Kerkorian, but he continued to buy the company's stock. Later, another car company, Daimler-Benz, bought Chrysler for $36 billion and founded DaimlerChrysler. In the process, Kerkorian also bought a stake in Daimler-Benz. After closing the deal, he made $2.7 billion in profit, a rate of return of more than 500%, surpassing the gross domestic product of all oil producing countries in Africa at the time. there. This is the second time Kerkorian has invested in a car company and it has been a huge success.

Kirk Kerkorian once surprised the world when he bought and sold MGM Studio - the most famous studio of the center of Hollywood world cinema exactly 4 times. When he got the price, he sold it right after his first purchase of this MGM studio. But shortly after, when predicting that he could sell for a higher price, Kirk Kerkorian immediately bought back the Studio MGM he had sold before. Kirk Kerkorian was right and "won big" when he found a buyer at even higher prices. So every time he buys and sells, Kirk Kerkorian's assets are significantly increased before the respect and admiration of the business world for the "monster moves" of Kirk Kerkorian.

After World War II, Kerkorian took flying lessons and then collected it all to buy a sports plane. The above action was also a rather reckless decision of Kerkorian at that time. He has his own business since then. It is a private airline owned by Kerkorian and piloted by himself.

He is also considered the father of the famous Mekkas game in the casino world in Las Vegas. Kerkorian figured early on that the casino sector was going to be huge and become an industry. In the 1960s, Kerkorian bought many properties at relatively cheap prices then. He invested to become attractive casinos and sold them at many times the price.

He has no industrial giants, nor is he a professional manager or investor. Kirk Kerkorian used to own a small airline with two sport jets. He is also not a technical expert or a genius inventor like many other billionaires.

Kirk Kerkorian always has many hotels, casinos for sale when someone asks to buy. Even so, billionaire Kirk Kerkorian is not a professional real estate investor. He made money and got rich by all means.

Throughout his business life, it seems that Kirk Kerkorian always foresaw, knew in advance what to buy and when to resell. Kerkorian is very selective in investing. But he doesn't seem to be interested in financial analysis, feasibility analysis. Many people even suspect that Kerkorian may not even be sure or understand the concepts of financial analysis. But the miracle is that Kerkorian has always been very lucky and spectacularly successful with many of his investments.

To date, many entrepreneurs and competitors have not found a complete and precise answer to the question of why. They can only admire and envy Kerkorian's rather unique deals. As the absolute owner of MGM-Studio, the most important film studio in the Hollywood film industry today, Kerkorian did not run or manage this corporation. Even the supervisory positions he did not hold. This is very unusual for many people.

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