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Ceo's show business isn't always a young man's game
1. CEO's Show Business Isn't Always a Young Man's Game
1. Leslie Wexner, 73. Wexner is CEO of Limited Brands and had a personal
fortune of $3.2 billion in 2010. That made him the 112th richest American,
according to forbes.com. His parents were Jewish immigrants from Russia
who opened a clothing store in Columbus, Ohio. Wexner got the idea for a
specialty operation catering to young women, and started The Limited with
the help of a $5,000 loan from an aunt. In a year, his parents closed their
store and joined their son, who acquired a retailing empire that includes
Victoria's Secret and Bath & Body Works, among other holdings. Married
with four children, Wexner also is a notable philanthropist. In 2011, he
donated $100 million to Ohio State, his alma mater, the largest gift ever
received by the huge university.
2. Mortimer Zuckerman, 73. Zukerman is CEO of Boston Properties and
owns the "New York Daily News." He was born in Canada and is a
naturalized U.S. citizen. Zuckerman, who earned degrees from both the
Wharton School of Business at the University of Pennsylvania and Harvard
Law School, spent nine years in academia before joining a real estate firm as
its chief financial officer. Over the years, he combined his expertise in
journalism and real estate to build a fortune. He bought "The Atlantic
Monthly" in 1980. Four years later, Zuckerman purchased the "U.S. News &
World Report," where he remains both owner and editor-in-chief.
Zuckerman has been publisher and owner of the "New York Daily News"
since 1993. He co-founded Boston Properties in 1970 and became wealthy
by selling some lush New York City real estate, among other ventures. In
2010, he earned $5.5 million as Boston Properties CEO.
3. J. Willard Marriott Jr., 78. Marriott followed his father as chairman and
CEO of Marriott International, the hotel chain. Marriott joined the
corporation in 1956. He became president in 1964 and CEO in 1972.
Marriott, who earned a degree in finance from the University of Utah, is
very active in the Church of Jesus Christ of Latter-day Saints. In 2010, he
earned total compensation of approximately $6.55 million. Marriott
International had about 3,150 hotels and other properties located throughout
the United States, as well as in 68 other countries, in 2010.
4. James Sinegal, 75. Sinegal is CEO of Costco Wholesale, the largest U.S.
wholesale club, with stores located throughout the world. He became
attracted to retailing after working as a bagger at Fed Mart in 1954. He
2. became executive vice president of that company and worked for others in
the food industry before co-founding Costco in 1983 with Jeff Brotman, a
successful retailer in Seattle. Sinegal has been president and CEO of Costco
since 1983, and his innovations helped to make the company a huge
international success. It was Sinegal who first introduced fresh food, eye-
care clinics, pharmacies and gas stations to warehouse clubs. His total
compensation in 2010 from Costco was $4.62 million.
5. Robert Wilmers, 76. Wilmers, CEO of M&T Bank in Buffalo, NY, is
one of the most respected bank executives in the country. He has been
chairman and CEO of M&T since 1983. When he started with M&T, the
regional bank has assets of about $2 billion. Today, the bank boasts assets of
more than $68 billion. Perhaps even more impressively, M&T was one of
only two banks in the entire Standards & Poor index that didn't cut or
suspend its dividend during the financial crisis that began in 2007. The
graduate of Harvard Graduate School of Business Administration spent his
early years working mostly in the banking industry, with a brief stint in New
York City government. In 2010, Wilmer's total compensation package was
$2.33 million, according to forbes.com.
6. Howard Solomon, 83. Solomon is CEO of Forest Laboratories, a leader
in the biotechnology/pharmaceutical field. He has served as CEO of Forest
since 1977 and also is the company's chairman and president. Solomon, who
has a law degree from Yale University, started his career in some of New
York City's leading law firms. He became a board member for Forest in
1964. Solomon has been very active in civic endeavors in New York City, as
a trustee for the New York Presbyterian Hospital and on the Board of
Directors of the Metropolitan Opera and the New York City Ballet. In 2010,
his total compensation package was $8.8 million.
7. Sheldon Gary Adelson, 77. Adelson is CEO of Las Vegas Sands Casinos
and the visionary behind The Venetian Hotel. Adelson had a modest
beginning in his hometown of Boston. He did not finish college and worked
as a mortgage broker and financial consultant. Adelson later team up with
some partners to develop a computer trade show, COMDEX, considered the
leading trade show in the booming computer industry in the 1980s and
1990s. That provided the capital for his plan for a mega-resort hotel and
casino in Las Vegas. Adelson got the idea for The Venetian while on his
honeymoon in Italy in 1991. He tore down the Sands and built The Venetian
at a cost of $1.5 billion. The resort opened in 1999, leading to a flurry of
3. other mega-resorts in Sin City, such as Wynn Las Vegas and the Bellagio
Hotel and Casino. After some expansion over the years, The Venetian in
2011 had 4,049 suits, 18 restaurants and a shopping mall with access to
gondolas who can take visitors on a trip both inside and outside the huge
facility.
8. Walter J. Zable, 95. Zable is CEO of Cubic, an aerospace and defense
conglomerate headquartered in San Diego. Zable ended a career in the
National Football League and became a professional engineer. In 1951, he
founded Cubic, which would eventually become one of the largest
manufacturers in the nation for defense electronics systems. Zable oversaw
Cubic's expansion into passenger and electronic freight elevators, as well as
into the business of providing equipment that automatically collects fares
from riders of mass transit systems. In 2010, Zable's total compensation
package totaled about $1.378 million. His wealth was estimated at $14.7
billion in 2010, making his the 13th richest person in the United States,
according to forbes.com.
9. K. Rupert Murdoch, 80. Murdoch, a media magnate, was born in
Australia and became a naturalized U.S. citizen in 1981. He has owned and
operated media outlets in Australia, New Zealand, the United States and
Britain. As chairman and CEO of News Corporation, he owned the second-
largest media empire in 2011. Murdoch bought troubled papers in Australia
and New Zealand during the 1950s and 1960s before moving to Britain in
1969. He bought the "News of the World" and "The Sun" newspapers.
Under Murdoch's leadership, "The Sun" became the best-selling daily in the
UK. In 1985, he expanded into the United States, buying Twentieth Century
Fox in 1985, HarperCollins in 1989 and "The Wall Street Journal" in 2007.
In the U.S. Forbes founded the "Star" supermarket tabloid and purchased the
New York Post in 1976. Forbes stopped publication of "News of the World"
in the summer of 2011, after a scandal that revealed reporters and executives
with the paper used illegal wiretaps to gain information from unsuspecting
citizens. He is worth an estimated $6.2 billion, according to forbes.com,
making him the 38th richest person in the United States.
10. Ralph Lauren, 71. Lauren, one of the most renowned fashion designers
in the world, and CEO of "Polo Ralph Lauren," grew up in the Bronx in
New York City as Ralph Lifshitz. When he was 16, he and his brother,
Terry, changed their last names after years of teasing in school. Lauren
studied business in college, but did not earn a degree. After a two-year stint
4. in the U.S. Army, he worked as a salesman at Brooks Brothers in 1967. He
used the financial backing of New York clothing manufacturer Norman
Hilton to open a tie store. He expanded his designs into other fashions,
including the popular Polo label. In 2010, Lauren was listed as the 60th
richest American by forbes.com, which estimated his wealth at $4.4 billion.
11. Melvin J. Gordon, 91. Gordon has been on the board of directors of
Tootsie Roll Industries, Inc., since 1952. He has been chairman of the board
since 1962. The company has been around for more than 100 years and
Gordon grew wealthy by overseeing the production and marketing of dozens
of products, in addition to Tootsie Rolls and Tootsie Roll pops. The
company also sells Junior Mints, Charleston Chew, Sugar Daddy and Sugar
Babies, Charms, Blow Pop, Cella's chocolate covered cherries, Nik-L-Nip,
Razzles and other popular candy products. In 2010, Gordon's total
compensation was $4.1 million.
12. Warren Buffet, 80. Buffet is perhaps the best-known and most trusted
investor and financial wizard in the country. Often at or near the top of the
list of wealthiest people on the planet, Buffet's personal frugality and
philanthropy have earned him acclaim throughout his career. Born and still
located in Omaha, Neb., he is chairman and CEO of Berkshire Hathaway,
and his investing advice is followed religiously by thousands. Buffet, who
has pledged to give away 99 percent of his fortune to charitable causes, was
No. 2 on the list of richest Americans in 2010, with an estimated fortune of
$45 billion.