Introduction
Frank Fertitta is a self-made billionaire who has been called one of the most influential people in the gaming industry. He has built his fortune through a variety of businesses, including casinos, hotels, and mixed martial arts promotions. But how did he make his staggering net worth? Let’s take a closer look.
Early Life and Education
Frank Fertitta was born in Las Vegas, Nevada, in 1962. His father, Frank Fertitta Jr., was a casino executive who owned several casinos in Las Vegas, including the famous Stardust. Frank Fertitta attended Bishop Gorman High School in Las Vegas and then went on to study at the University of Southern California, where he earned a degree in Business Administration.
Starting in Business
Frank Fertitta started his first business when he was still in college. In 1983, he and his brother, Lorenzo Fertitta, founded a company called “Lorenzo’s Food Group,” which sold frozen Mexican food to supermarkets. After graduation, Frank and Lorenzo started a travel agency and then went on to found a company called “Station Casinos.”
Growing His Net Worth with Station Casinos
Station Casinos was a huge success and grew quickly, eventually becoming one of the largest gaming companies in the country. Frank and Lorenzo took the company public in 1993, and it continued to experience significant growth over the years. Today, Station Casinos owns and operates 20 different properties in Las Vegas.
Investments Beyond Station Casinos
Frank Fertitta’s success with Station Casinos allowed him to invest in other businesses as well. He bought the UFC (Ultimate Fighting Championship) in 2000 for just $2 million and ended up selling it for $4 billion in 2016. He also owns a hotel and resort company called “Red Rock Resorts” and has investments in various other businesses.
Philanthropy
Frank Fertitta is known for his philanthropy and has donated millions of dollars to various causes over the years, including education, health, and the arts. He and his brother also donated $10 million to the University of Nevada, Las Vegas, for the construction of a new football stadium.
Personal Life
Frank Fertitta is married with three children. He is known for being somewhat private, but he has shared that he enjoys playing golf and spending time with his family in his free time.
Conclusion
Frank Fertitta’s staggering net worth is a testament to his hard work, business acumen, and willingness to take risks. He has made his fortune through a variety of businesses and has given back generously to his community.
FAQs
Q: What is Frank Fertitta’s net worth?
A: As of 2021, Frank Fertitta’s net worth is estimated to be around $2.7 billion.
Q: What businesses does Frank Fertitta own?
A: Frank Fertitta owns Station Casinos, Red Rock Resorts, and has investments in various other businesses.
Q: How did Frank Fertitta make his fortune?
A: Frank Fertitta made his fortune through business ventures, including casinos, hotels, and mixed martial arts promotions.
Q: What is Frank Fertitta’s philanthropic work?
A: Frank Fertitta has donated millions of dollars to various causes, including education, health, and the arts.
Q: What are Frank Fertitta’s hobbies?
A: Frank Fertitta enjoys playing golf and spending time with his family in his free time.