Forbes Magazine
September 30, 2002
www.forbes.com
The Forbes 400 20th Anniversary Edition (2002 Special Issue)
The Richest People in America
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Gold Diggers (page 174)
Taking risks remains the essence of capitalism. These investors — some
white knights and angels, others hostile — gambled on an array of
companies.
1.) Kirk Kerkorian, ranked as the 32nd richest American, $4.5 billion
dollars
– Category: Investments
– Company: Tracinda Corporation
– Home(s): Las Vegas, Los Angeles
– Age: 85
– Marital Status: Thrice divorced, 2 children (Tracy and Linda)
Kerkorian’s third fling with studio MGM is rocky: stock down over 40%
this year. New James Bond flick may help. Kerkorian’s third marriage is
also a bust; ex-wife Lisa Bonder asks for $3.8 million a year in child
support, though Kerkorian isn’t the natural father. Kerkorian is
currently pursuing a lawsuit versus DaimlerChrysler over 1998 merger.
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Widgeters (page 222)
Manufacturing may seem mundane, but there’s nothing boring about the
billions being made from Beanie Babies and birthday cards.
1.) Richard Alexander Manoogian, ranked as the 249th richest American,
$930 million dollars
– Category: Manufacturing
– Company: Masco Corporation
– Home: Grosse Pointe Farms, Michigan
– Age: 66
– Marital Status: Married, 3 children
Father Alex Manoogian (d. 1996) emigrated from Armenia, formed Masco
Corp. in 1929. After Yale, Richard helped dad transform a $55 million
(in sales) company into a home and building products giant: Delta
faucets, Behr paints, Weiser locks. Current Masco chairman and chief
executive is also a big art collector, and supporter of civic and
cultural causes in Michigan. Manoogian sits on the boards of Bank One,
Ford, and Metaldyne.
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