As one of the most talked-about figures, Ron Burkle has built a significant fortune. In this article, we dive deep into the assets and career highlights.
What is Ron Burkle's Net Worth?
Ron founded the private equity firm Yucaipa Companies in 1986, and the firm has invested in companies involved in entertainment, sports, food, hospitality, and other industries. During the Los Angeles riots in 1992, Burkle earned praise for refusing to close his inner-city stores. In 1999, Ron and former Pittsburgh Penguin Mario Lemieux saved the Penguins from bankruptcy, and he was involved in negotiations to build the PPG Paints Arena for the team and to end the 2012–2013 NHL lockout. Under Ron's ownership, the Penguins won the Stanley Cup in 2009, 2016, and 2017, making them the only championship-winning sports team in North America to have ties to private equity. In January 2021, it was announced that Burkle would be the lead investor of the future Major League Soccer franchise, the Sacramento Republic, but he pulled out in February 2021 due to the COVID-19 pandemic.
Ron Burkle is an American businessman who has a net worth of $4 billion. A college dropout, Ron Burkle earned his fortune as the founder of the private equity firm Yucaipa Companies. He also manages the Ronald W. Burkle Foundation and has been chairman of the board for Ralphs, Fred Meyer, Dominick's, Food4Less, and Alliance Entertainment.
In his twenties, Burkle invested $3,000 in two metals companies, including American Silver, and made $30,000, which he used to flip grocery stores in neighborhoods that were "abandoned or underserved by other chains." Ron eventually became manager at Stater Bros., and by his late twenties, he had been named president of the store's parent company, Petrolane, Inc. When Petrolane decided to sell Stater Bros., Burkle secretly arranged a buyout with Berkshire Hathaway vice-chairman Charles Munger, with Berkshire putting up half the equity. The bid Ron made to Petrolane's board was 20% lower than the company's internal valuation, and the board didn't just reject his offer – they fired him as well. By that point, Burkle's portfolio was worth around $5 million, and he spent the next five years investing in stocks and overseeing rental properties that belonged to his family.
Ron co-founded the venture capital fund A-Grade Investments withGuy OsearyandAshton Kutcher, and today, the fund's investment portfolio includes companies such as Uber, SoundCloud, Spotify, and Airbnb. He has also invested in technology startups through the venture capital fund Inevitable Venture, which was founded by Chris Hollod and D.A Wallach. In the entertainment industry, Burkle has invested in Artist Group International and Three Lions Entertainment, and he purchased Artist Group International in 2014. Ron has acquired minority stakes in the Primavera Sound Music Festival and Independent Talent, and in 2020, he invested in the musical festival Danny Wimmer Presents.
Ron was married to Janet Steeper, a former Stater Bros. clerk (and the great-grandniece of the Wright brothers) from 1974 to 2006, and they had three children together: Andrew, Carrie, and John. Sadly, Andrew was found dead in his home in January 2020 at the age of 26. Burkle has ownedJesse Owens' Olympic gold medal, William Faulkner's Nobel Prize for literature, and the Ennis House byFrank Lloyd Wright, which he sold for $18 million in 2019. In late 2018, Ron was named the United States honorary consul of Serbia after a Serbian consulate was opened in Montana. He applied for Serbian citizenship and was naturalized in November 2019.
Ron Burkle was bornRonald WayneBurkle on November 12, 1952, in Pomona, California. He grew up with mother, Betty, father, Joseph, and a younger brother. Joseph was the manager of a Stater Bros. grocery store, and Ron worked in the store during his youth, stocking shelves and retrieving shopping carts. By the time Burkle was 13, he was a member of the United Food and Commercial Workers Union Local 770, and two years later, he had to leave school and his job to recover from a poolside accident that resulted in two broken legs. He graduated from high school at age 16 and briefly studied dentistry at California State Polytechnic University, Pomona. Ron dropped out of college after less than two years and went back to stocking shelves at Stater Bros.
Burkle has served on the boards of Occidental Petroleum Corporation, Yahoo!, and KB Home as well. He is co-owner of the National Hockey League team, the Pittsburgh Penguins, along withMario Lemieux, and he has invested in technology startups and Three Lions Entertainment. Burkle was the largest shareholder of Wild Oats Markets before it was acquired by Whole Foods Market, and he has been involved with Safeway, Kmart, Pathmark, Sean John, Primedia, Barnes & Noble, American Apparel, Inc., and Relativity Media.
In summary, the total wealth of Ron Burkle reflects strategic moves.
Disclaimer: All net worth figures are estimates based on public data.
