Word: perelman
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Dates: during 1980-1989
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...billion). Last October the magazine estimated Walton's wealth at $6.7 billion. Forget about it, says Institutional Investor, noting that a portion of Walton's wealth is shared with four grown children. In its May issue the financial monthly says the richest man in the U.S. is Ronald Perelman, 46, of New York City, who has amassed a personal fortune of $5 billion in a mere ten years by assembling companies in businesses ranging from cosmetics to groceries to camping equipment to licorice extract...
There is nothing folksy about Perelman. His favored car is a chauffeur- driven Bentley, and he has never owned a pickup. And if he is indeed the fattest of the fat cats, he didn't exactly start from scratch. He began sitting in on board meetings of Belmont Industries, his family's $300 million Philadelphia conglomerate, at age 11. At 35, Perelman got restless, moved to New York City and started collecting his own companies. Beginning with a chain of jewelry stores, he added MacAndrews & Forbes, a producer of licorice extract, in 1979. Then, with the help of financing provided...
Married to celebrity reporter Claudia Cohen, a contributor to the chatty Live with Regis and Kathie Lee morning show, Perelman appears at his share of gala events but refuses to grant interviews. His only known hobbies are hunting acquisitions and smoking cigars -- made, naturally, by Consolidated Cigars, a company he used to own. Last year he burst into the headlines by leading a $315 million takeover of five ailing Texas thrifts. The Federal Government sweetened the deal by providing $900 million in tax breaks...
Unlike some takeover artists, Perelman has a reputation as a hands-on manager who tends to retain and operate the companies he captures rather than break them up. When Revlon embarked on an advertising campaign featuring portraits of "unforgettable women," Perelman took a personal interest in picking the models. Even for America's richest man, some tasks are just too important to delegate...
...attempted reconciliation with his wife. But the tone and dynamics of this scene are indistinguishable from the rest of a film that looks as if it had been shot in a brownout. Depression, obviously, is not amusing. But depressives, as the history of humor from Mark Twain to S.J. Perelman proves, can be. Anyway, it should be possible to analyze an illness without falling prey...