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Ronald Perelman

Picture of Ronald Perelman

Date of Birth: 1943

Age: 72

Place of birth: Philadelphia

Citizenship: United States

corporations Invader

September 24, 1987 Salomon Brothers office, one of the largest United States investment companies, was like a disturbed beehive. And all because of the fact that the famous American "corporations invader" Ron Perelman announced its intention to purchase and the company. Thank Perelman as a destroyer of the traditional bastions of corporate confirmed - this time he was the first who dared to carry out a hostile takeover of one of the bosses of Wall Street. While employees Salomon Brothers tried to reassure customers that literally terminated phones guide frantically tried to repel the attack Perelman. In the evening in the investment company was born a joke: "Soon everyone who buys a bond for a million dollars, we will give a free set of lipstick." This was an allusion to the fact that Perelman already owned Revlon, one of the world`s largest beauty companies. By the way, I bought them for two years before that as a result of the same brazen "attacks".

Buy to sell

Born Ronald Perelman (Ronald Perelman) in 1943 in Philadelphia, the son of a businessman. His father, Raymond Perelman owned Belmont Industries, which is engaged in metalworking and still controlled about a dozen enterprises Philadelphia.

Dad saw Ronald primarily his successor and the head of the family business. With 11 years, Ron had to appear at the meetings of the Board of Directors, and the father did not hesitate to demand from the son of the same competent responses, as well as other members of the council. And when Ronald walked into the University of Pennsylvania, his future seemed quite certain. But the Rhone, which at that time to the basketball vymahal growth - 195 cm, loved to play the drums and saw himself not a businessman, and a drummer in a rock band. And at the university he first received his Bachelor of Arts and only then - Master of Business Administration.

What Ronald preferred music business, I did not like his father. In the end Raymond chose to put at the head of her other son - Geoffrey. So, having worked in the family Belmont Industries to 35 years, Ron was left with nothing: no musician career, without a lot of capital and without influence. Then, spitting on the family business, he went to New York and decided to start all over again - and this time, to work only for themselves.

Now Ron was nothing other than the experience of some bonds and arrogance. Unlike his father, Perelman did not intend to raise capital in dribs and drabs. To get rich, he decided to go for broke: took loans for $ 1.9 million and bought a network of jewelry stores in New York.. The highlight of this transaction was that Ron was sure that the jewelry chain greatly underestimated, and therefore, he will be able to resell it more expensive. And so it happened. Soon Perelman sold store bought for $ 15 million., Earned on transactions greater than $ 10 million. After the return of the loan taken by large percentages.

The deal was so pleased Perelman that based leveraged-buyout (purchase of companies in the credit), he decided to create for themselves the real "money machine". Now Ron buying undervalued companies with borrowed money, and then singled out from them the most "delicious" units and sold them. The price of such "ragged" is often greater the value of the purchased business - in fact, Perelman learned to make money out of thin air. He had only to hone the process.

A real boon for Perelman was the emergence of a new financial instrument - the so-called junk bonds. They produced almost anyone and different from the "classic" bonds insufficient collateral and, accordingly, a very high yield. Interest on them in US dollars surpasses 20% per annum. Having released in 1980 such bonds by $ 35 ppm, Perelman bought a major producer of licorice extract - a company MacAndrews & Forbes. Restructure its business, Ronald made it the core of its future empire. Until now, many official documents he is listed as its CEO and Chairman of the Board of Directors.

In the past, after the purchase of MacAndrews & Forbes Perelman five years I spent on the purchase of a variety of undervalued companies about $ 360 ppm, of which $ 140 ppm accounted for junk bonds. By 1985, through Ron Hand Held Consolidated Cigars, Movie Labs, Technicolor Inc., Video Corporation of America and Pantry Pride.

Case Revlon

Stuffed his hand on the small firms, Perelman decided to aim a blow at one of the world`s largest cosmetic companies - Revlon. With his characteristic sense of humor to attack the cosmetics giant chose it recently bought a network of small grocery shops Pantry Pride. Joke appreciated, and when Perelman put forward a proposal to purchase Revlon, giant leadership did not accept it seriously. The head of the Revlon Michel Bergerac is now called the Pantry Pride not otherwise Panty Pride ( "trousers pride" instead of "pantry pride").

The essence of the attack on the Revlon was always to offer for its shares more than anyone. But it took a lot, a lot of money. In fact, it was a question of who has previously run out of money - at the invader, or at the beginning of a counter-buying Management Revlon. The trick was to Ron that he was under the unsecured bonds, and certainly could offer the most.

And when Perelman has said it will automatically offer per share for a quarter more than any management proposals, Bergerac was not joking. Perelman received a controlling stake in Revlon, when the share price doubled to $ 56.25. Total cost Ron taking Revlon $ 2 ppb, another $ 1 ppb, he had to pay later. Shortly after completion of the transaction Perelman sold all medical Revlon division for $ 1.4 billion., Leaving now only the production of cosmetics.

It is worth noting that most of Perelman`s success falls on his phenomenal ability to sell. Even in the early 1990s, Revlon got in a difficult financial position and had to sell his unit Max Factor company Procter & Gamble for $ 1.1 ppb However, a few years before that Ron spent on the acquisition of Max Factor only $ 500 ppm

Even when Ron could not buy kakuyu-to company, his opponents is so costly that victory looked like a defeat. So, while trying to Ron in 1985 to capture one of the largest investment companies in the US Salomon Brothers its management is urgently needed $ 809 million. To kill the proposal Perelman to buy a 14% stake. only $ 109 million possessed Of this amount, the company itself. In the end, the leadership of Salomon Brothers help fend off Perelman helped second-richest man in the world Warren Buffett. Instead, Buffett got converted bonds Salomon Brothers, yielding 9% per annum. A loss of investment only from this transaction amounted to about $ 126 million.

About the ladies, and not let

But business success has never been for Perelman`s main goal in life. As once I said another American billionaire - Donald Trump: "In the meetings we have with Ron Perelman spend 95% of time for discussion of women and only 5% - to talk about business." Subordinate Ronald generally believe that its main activity is collecting women. For example, when the US scandal iz-za warm personal relations White House intern Monica Lewinsky, and then-President Bill Clinton, Ron took Lewinsky a job immediately after her discharge from the presidential administration. Probably Perelman personally wanted to hear from her the details of the scandal.

Not surprisingly, the divorce Perelman have to quite often. His first wife, Faith Golding, Ronald dropped as soon as he got rich. To prove adultery, she hired a private investigator, and in 1983 they introduced the extracted materials in court. As a result, she sued Perelman`s $ 8 million Ron remarried two years later -. To the journalist Claudia Cohen, a New York obozrevatelnitse secular life. Their union lasted for 9 years, and in 1994, she has also filed a lawsuit for divorce. By this time, Perelman became much richer, and Claudia had on the lives of US $ 80 million.

Third darling Perelman became a functionary of the Democratic Party Patricia Duff. The marriage did not last two years, after which millions of Americans enthusiastically watched court battle for custody of their daughter Caylee. In particular, Perelman presented the court with his daughter`s diet. And the whole country was surprised to learn that the daughter of a billionaire is powered by $ 3 per day - much worth her favorite food: cereal, hot dogs and chicken legs.

Perelman fourth marriage - to the Hollywood actress Ellen Barkin - continued for the fifth year. His greatest achievement was the fact that for a new wife and children billionaire quit smoking your favorite cigar, which is practically not issued from the mouth to the 26-year-olds.

Status

Ronald Perelman American magazine Forbes estimates at $ 4.9 ppb, which provides him with 103rd place in 2005 among the world`s richest people. In addition to Revlon he controls companies like Scientific Games and Panavision.

The most profitable trade

Ron Perelman was the sale in 2002 for $ 6 billion. Small bank group Golden State Bancorp one of the largest banks in the world Citigroup. It is not known what guided the bankers, but now for the Golden State assets do not provide more than $ 1.7 billion.

Friends

Ron Perelman his friend find such famous musicians as Rod Stewart and Jon Bon Jovi. Ron Stewart helped even realize childhood dream - to one of his concerts Perelman played drummer. And, according to the audience, did not spoil the overall picture. In gratitude Perelman shared with Rod her experience of divorce. "Ron called every day - Stewart says - to find out how I was doing."

Last Wedding

Ronald Perelman took place in June 2000. His fourth choice was the actress Ellen Barkin. The ceremony and dinner party was short-lived, because on the same day Ron had to appear at the court hearing on the divorce from third wife Patricia Duff.

The chair at the table

Perelman is a remarkable thoroughness in all that comes to money. Recently, an antique dealer De Vos and Girand from New York gave him to court because he refused to pay a few items of antique furniture worth about $ 1 ppm Perelman justifies his behavior by the fact that he recently bought from De Vos and Girand antique dining Buffet for $ 1 million., which proved to be skillful forgery. Now, according to its representatives, they De Vos and Girand quits.

How to cheat billionaire

In May this year the US Supreme Court has recognized the investment bank Morgan Stanley guilty of cheating Ronald Perelman. In 1998 the businessman sold the company Coleman - manufacturer of equipment for camping. The consultant in this transaction was Morgan Stanley. Part of the sum was paid in shares of Sunbeam, which Perelman bought from Coleman. Naturally, assessment of Sunbeam stock value is carried out specialists Morgan Stanley. However, three years later Sunbeam went bankrupt, and later found out that her statements were falsified. As a result, Perelman has lost $ 604 million., Which successfully strebovat with the investment. In addition, the court sought to Morgan Stanley in favor of billionaire and penalties in the amount of $ 850 ppm