Word: bluhdorn
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Dates: during 1960-1969
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...year, moved into consumer products for the first time by reaching an agreement to buy out Consolidated Cigar, the nation's biggest cigar maker (Dutch Masters, El Producto, Muriel), in a $150 million stock swap. At the same time, Gulf & Western's young (40), acquisitive chairman, Charles Bluhdorn, sweetened his company's stock offer for E.W. Bliss Co., an Ohio-based tool-equipment manufacturer that, like Consolidated, had 1966 sales of about $158 million. If the Bliss deal goes through on the heels of the Consolidated takeover, Gulf & Western's annual sales level, currently $700 million...
...stock. Desilu produces four TV series (The Lucy Show, Mission: Impossible, Star Trek and You Don't Say), rents production facilities to 13 others, including I Spy and Corner Pyle. All of this earned Desilu $734,000 on revenues of $18.8 million in fiscal 1966. Charles G. Bluhdorn, 40, the Vienna-born immigrant who whipped G&W into a $317 million corporation (TIME cover, Dec. 3, 1965), sees "great potential" in the entertainment field, which now accounts for 30% of his company's sales. Last December Bluhdorn hired former CBS-TV President John T. Reynolds, who will...
...they sold out to seemed likely to stage an even bigger drama of his own. At 39, Vienna-born Charles G. Bluhdorn is already a millionaire (TIME cover, Dec. 3), has swiftly built his Gulf & Western Industries into a $300 million collection of auto-parts companies. Last week G. & W. moved to add another by a merger with Universal American, which does a $150 million business in tools, auto parts and machinery. Bluhdorn makes no secret of his urge to make Gulf & Western even bigger. As he handed Siegel and Martin a certified check for their $11.8 million, he observed...
...life to be their own bosses. Most of them started earning money while still children: by the time he was 13, Arthur Carlsberg had been a caddy, gardener, seed salesman and fruit trader. Many of them, like Merlyn Mickelson, never went to college; others, like Arthur Decio and Charles Bluhdorn, impatiently dropped out of college in order to study in the marketplace. At the beginning of their careers, they lived lean, often taking shoestring salaries in order to pump profits back into their enterprises. In his first plant, Mickelson doubled as a floor-sweeping janitor. Many of them suffered...
More than Just Money. The motivation of the millionaire is seldom purely materialism. To him, the accumulation of a million is usually just a milestone on the road to a greater goal. Charles Bluhdorn seeks "the joy of putting something together and seeing it grow." Says Arthur Carlsberg: "Accumulating money is a hobby, a game, a drive. I enjoy it." Perhaps the best explanation comes from Manhattan's Robert K. Lifton, 37, head of the widely .diversified Transcontinental Investing Corp., who has earned $4,750,000 through real estate and other ventures. Says he: "This is our form...