Rank #1127
Ira Rennert
Net worth $3.8B
Investments · United States
- Born
- May 31, 1934
- Age
- 91
- Source
- Investments
- Residence
- New York, New York
- Citizenship
- United States
- Marital status
- Married
- Children
- 3
- Education
- Bachelor of Arts/Science, Brooklyn College; Master of Business Administration, Leonard N. Stern School of Business
Net worth over time
Biography
- Ira Rennert is the founder of the Renco Group, an industrial empire with estimated annual revenues of $5 billion.
- Renco's holdings include a stake in military truckmaker AM General, lead and zinc producer Doe Run Company and U.S. Magnesium Corp., among others.
- His mother emigrated to the U.S. from Poland at age 3 and his father came from Romania at age 14.
- A Brooklyn native and former credit analyst, he began building his fortune by investing in junk bonds in the 1980s.
- In 2015, a court ruled that Rennert was liable for improperly diverting money from his business to pay for a lavish home in Southampton, New York.
- Rennert has a 114,000-square-foot Hamptons estate with an assessed value of $268 million.
- Rennert reportedly donated funds to help restore the Western Wall in Jerusalem.