Ceo's show business isn't always a young man's game


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Ceo's show business isn't always a young man's game

  1. 1. CEOs Show Business Isnt Always a Young Mans Game1. 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 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 Victorias 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. 2. became executive vice president of that company and worked for others inthe food industry before co-founding Costco in 1983 with Jeff Brotman, asuccessful retailer in Seattle. Sinegal has been president and CEO of Costcosince 1983, and his innovations helped to make the company a hugeinternational success. It was Sinegal who first introduced fresh food, eye-care clinics, pharmacies and gas stations to warehouse clubs. His totalcompensation in 2010 from Costco was $4.62 million.5. Robert Wilmers, 76. Wilmers, CEO of M&T Bank in Buffalo, NY, isone of the most respected bank executives in the country. He has beenchairman and CEO of M&T since 1983. When he started with M&T, theregional bank has assets of about $2 billion. Today, the bank boasts assets ofmore than $68 billion. Perhaps even more impressively, M&T was one ofonly two banks in the entire Standards & Poor index that didnt cut orsuspend its dividend during the financial crisis that began in 2007. Thegraduate of Harvard Graduate School of Business Administration spent hisearly years working mostly in the banking industry, with a brief stint in NewYork City government. In 2010, Wilmers total compensation package was$2.33 million, according to Howard Solomon, 83. Solomon is CEO of Forest Laboratories, a leaderin the biotechnology/pharmaceutical field. He has served as CEO of Forestsince 1977 and also is the companys chairman and president. Solomon, whohas a law degree from Yale University, started his career in some of NewYork Citys leading law firms. He became a board member for Forest in1964. Solomon has been very active in civic endeavors in New York City, asa trustee for the New York Presbyterian Hospital and on the Board ofDirectors 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 Casinosand the visionary behind The Venetian Hotel. Adelson had a modestbeginning in his hometown of Boston. He did not finish college and workedas a mortgage broker and financial consultant. Adelson later team up withsome partners to develop a computer trade show, COMDEX, considered theleading trade show in the booming computer industry in the 1980s and1990s. That provided the capital for his plan for a mega-resort hotel andcasino in Las Vegas. Adelson got the idea for The Venetian while on hishoneymoon in Italy in 1991. He tore down the Sands and built The Venetianat a cost of $1.5 billion. The resort opened in 1999, leading to a flurry of
  3. 3. other mega-resorts in Sin City, such as Wynn Las Vegas and the BellagioHotel and Casino. After some expansion over the years, The Venetian in2011 had 4,049 suits, 18 restaurants and a shopping mall with access togondolas who can take visitors on a trip both inside and outside the hugefacility.8. Walter J. Zable, 95. Zable is CEO of Cubic, an aerospace and defenseconglomerate headquartered in San Diego. Zable ended a career in theNational Football League and became a professional engineer. In 1951, hefounded Cubic, which would eventually become one of the largestmanufacturers in the nation for defense electronics systems. Zable oversawCubics expansion into passenger and electronic freight elevators, as well asinto the business of providing equipment that automatically collects faresfrom riders of mass transit systems. In 2010, Zables total compensationpackage totaled about $1.378 million. His wealth was estimated at $14.7billion in 2010, making his the 13th richest person in the United States,according to K. Rupert Murdoch, 80. Murdoch, a media magnate, was born inAustralia and became a naturalized U.S. citizen in 1981. He has owned andoperated media outlets in Australia, New Zealand, the United States andBritain. As chairman and CEO of News Corporation, he owned the second-largest media empire in 2011. Murdoch bought troubled papers in Australiaand New Zealand during the 1950s and 1960s before moving to Britain in1969. He bought the "News of the World" and "The Sun" newspapers.Under Murdochs leadership, "The Sun" became the best-selling daily in theUK. In 1985, he expanded into the United States, buying Twentieth CenturyFox in 1985, HarperCollins in 1989 and "The Wall Street Journal" in 2007.In the U.S. Forbes founded the "Star" supermarket tabloid and purchased theNew York Post in 1976. Forbes stopped publication of "News of the World"in the summer of 2011, after a scandal that revealed reporters and executiveswith the paper used illegal wiretaps to gain information from unsuspectingcitizens. He is worth an estimated $6.2 billion, according to,making him the 38th richest person in the United States.10. Ralph Lauren, 71. Lauren, one of the most renowned fashion designersin the world, and CEO of "Polo Ralph Lauren," grew up in the Bronx inNew York City as Ralph Lifshitz. When he was 16, he and his brother,Terry, changed their last names after years of teasing in school. Laurenstudied business in college, but did not earn a degree. After a two-year stint
  4. 4. in the U.S. Army, he worked as a salesman at Brooks Brothers in 1967. Heused the financial backing of New York clothing manufacturer NormanHilton to open a tie store. He expanded his designs into other fashions,including the popular Polo label. In 2010, Lauren was listed as the 60thrichest American by, which estimated his wealth at $4.4 billion.11. Melvin J. Gordon, 91. Gordon has been on the board of directors ofTootsie Roll Industries, Inc., since 1952. He has been chairman of the boardsince 1962. The company has been around for more than 100 years andGordon grew wealthy by overseeing the production and marketing of dozensof products, in addition to Tootsie Rolls and Tootsie Roll pops. Thecompany also sells Junior Mints, Charleston Chew, Sugar Daddy and SugarBabies, Charms, Blow Pop, Cellas chocolate covered cherries, Nik-L-Nip,Razzles and other popular candy products. In 2010, Gordons totalcompensation was $4.1 million.12. Warren Buffet, 80. Buffet is perhaps the best-known and most trustedinvestor and financial wizard in the country. Often at or near the top of thelist of wealthiest people on the planet, Buffets personal frugality andphilanthropy have earned him acclaim throughout his career. Born and stilllocated in Omaha, Neb., he is chairman and CEO of Berkshire Hathaway,and his investing advice is followed religiously by thousands. Buffet, whohas pledged to give away 99 percent of his fortune to charitable causes, wasNo. 2 on the list of richest Americans in 2010, with an estimated fortune of$45 billion.