Ira Leon Rennert or simply Ira Rennert is an American investor and business magnate. Rennert was born on May 31, 1934 in Brooklyn New York. Presently he controls nation’s largest industrial empire and his net worth is USD 6.5 Billion.
Rennert took his graduation degree from Brooklyn College in 1954 and took his master’s degree from New York University’s Stern School of Business in 1956. Rennert lives in Sagaponack, New York along with his wife Ingeborg Hanna and three children.
Personal Biography
In 1956, after completing his MBA, he started his carrier as an analyst at Wall Street. Rennert served as a partner at Rubin, Rennert & Co. in 1962. He was born to a Polish mother who emigrated from Poland at age 3 and a father who emigrated from Romania at age 13. Ira Rennert is a self made billionaire and his worth is USD 3.9 billion as of Jan 2017. He is at 148th spot in the Forbes 400 in 2016. He was at 435th spot in Forbes list of billionaires in 2016 and at 154th spot in United States.
Ira Rennert’s Family
Rennert is married to Ingeborg Hanna who was an airline ticket agent and is Judaism convert. Hanna serves as the director of Lincoln centre for the performing arts, Inc. They have three children.
- Tamara Rennert Winn
- Yonina Rennert Davidson
- Ari Rennert
Hanna acknowledges her husband as loving, caring and extremely charming.
Ira Rennert’s Children
Ira has three children as named above. Tamara Winn is the daughter of Ira. Tamara is married to Randy Winn. They are involved in real estate business and were in news for selling and purchasing grand mansions. The duo sold their 2,745-square-foot condo at the Chatham, just little blocks southeast of the edifice they now call home, for $6.85 million. Randy Winn is a managing director at Standard & Poor and also manages their IQ business.
Ira gifted an apartment to his two daughters Tamara and Yohina worth USD 30 million. Yohina Davidson is the second daughter of Ira and Hanna. Ira Rennert gifted Yohina an apartment worth USD 30 million and she along with her husband Davidson have shifted to the house in Park Avenue. There were some renovations done in order to comply with the needs the couple needed.
Ira Rennert and Ingeborg Hanna Rennert have a son named Ari Rennert who is associate member in Rennert’s business empire and is most likely the viable candidate to take up the job of his father.
Rennert’s Net Worth
Ira Rennert basically is a self made investor. He has total worth of USD 3.9 billion. Rennert ranks on the 29th spot on The Jerusalem Post list of the World’s 50 Richest Jews in the year 1988. Renco bought a Warren steel company in Ohio from its bankrupt parent, LTV Steel Co., worth $140 million. The company later became WCI Steel Inc., and Ira Rennert was able to ultimately sell bonds totaling USD 300 million, paying USD 108 million of the proceeds as a dividend to Renco. In 1998, Renco Steel Holdings Inc. was created to provide as a holding company for WCI. The holding company then sold $120 million in junk bonds, this moment paying an additional $100 million dividend to Renco.
In 1989, Renco acquired the U.S.’s largest magnesium manufacturer in Utah. In 1993, Renco acquired AM General from the LTV Corporation to assist LTV emerge from bankruptcy. Terms included a $67.5 million cash imbursement with the remainder to be paid in various forms over a 10-year period. AM General produced vehicles for military, industrial and government use, which includes the Humvee.