Burkle was co-owner of the Pittsburgh Penguins, and the team was invited to a celebration at the White House following their Stnaley Cup victory. Even some of his friends look at the contrast between such ostentatious displays of wealth and the more down-to-earth image Burkle tries to cultivate and scratch their heads. Stern allegedly asked Burkle for a $220,000 investment in his clothing business in exchange for better coverage. She previously worked for the Washington Posts Style section, where she juggled writing with acting roles in small theaters and even a couple of TV shows. Billionaires often have private jets at their beck and call. It was extensively covered in the Los Angeles Business Journal before the records were sealed. He has been the target of two dreaded media figures: The infamous Hollywood sleaze-digger and private eye Anthony Pellicano, whom Burkle feared was investigating him; and a freelancer for the New York Post who (says Burkle) tried to extort $100,000 from him to keep Burkle out of the tabloids dreaded gossip column, Page Six. He had a highly publicized falling-out with Michael Ovitz, the former Hollywood power broker, several years ago, and came under the news media microscope in late 2000 for soliciting Mr. Clinton about a possible pardon for Michael Milken, the former junk-bond king and convicted felon. Stern was subsequently fired by the Post. T hough Burkle's business interests take him around the globe, that doesn't prevent him from keeping up with how the Penguins are faring. Carla Hall is an editorial board member who writes about homelessness, reproductive rights, popular culture, animal welfare, and human rights in Asia and Africa, among other topics. Curious, given what happened later, that Janets parents worried about protecting her small inheritance from her new husband. After last week's sale of four of the papers to rival bidder MediaNews Group, Yucaipa reportedly is still interested in pursuing the remaining eight papers on the block, which include the Philadelphia Inquirer and Philadelphia Daily News. [85], In 1997, Burkle donated $15 million for the construction of Walt Disney Concert Hall. . The documents include a sworn declaration by the Burkles adult daughter that her father had told her that his security staff had pictures and videos of Janet Burkle and her boyfriend having sex. Unfortunately, he passed away on January 6, 2020. Even if he's not exactly a household name, most real estate aficionados know who Ron Burkle is. Burkle poses with Princess Beatrice and her mother, Sarah Ferguson, Duchess of York, at the 2017 launch of The Ned, a hotel in London. But the reporter was too smart to take the proffered gym bag full of greenbacks, and the ensuing scandal coverage (my own rival tabloid was only too happy run it on the front page for weeks) was as messy as it was inconclusive. It was common for me to spend $15,000 at one time at Barneys, and my average monthly expense for clothing was at least $10,000 (a conservative estimate), she said. (Burkle had fired the caretaker for taking the boy to the apartment of her boyfriend, a convicted drug felon.). Yucaipas profit: $1.8 billion. Listed on Forbes magazine's 400 and . He still owns a majority stake today but wont specify it. Most recently, Burkle and his Yucaipa Cos. spearheaded a bid for the 12 Knight Ridder papers put up for sale by McClatchy Co. in March. By the time Whole Foods Market, a natural-foods grocer, agreed to pay $565 million for Wild Oats, Burkle was the largest shareholder of Wild Oats. A Los Angeles court late Friday unsealed documents revealing details of billionaire Ronald W. Burkles bitter divorce fight -- records that he went to extraordinary lengths over the last three years to keep private. I just do what I like doing -- that's it.". Owns 26% stake in Americold Realty Trust; Merged Alliance Entertainment with Source Interlink; Purchased Enthusiast Media publications and assets of, Burkle offered to purchase the financially troubled. It was purchased on February 5, 1999, for $15.3 million and the current tax assessment is $34 million. ". Janet, in one of her filings, said the couple had six residences -- a Yucaipa ranch, a Laguna Beach estate, an oceanfront mansion in La Jolla, the historic Greenacres mansion in Beverly Hills, and two properties in Palm Springs. TRD Staff. VIDEO: Michal Czerwonka for The Wall Street Journal. The couple wed in . Burkle has long enjoyed appearing in the New York gossip columns. But he lost badly in trying to get his 5,000-page divorce record sealed to protect his familys privacyand his own image. Burkle says he realized the impact his next fund could have after talking to the veteran investor Kirk Kerkorian, who now rankles the executive ranks of [48][49], In 2019, Burkle sold a 50% stake in the Sydell Group to MGM Resorts International. Now he wants to buy the National Enquirer. This page was last edited on 10 January 2023, at 22:57. (It was unusual to hear from a billionaire personally, and he shared this habit with only one other peer: Donald J. Ronald Wayne Burkle (born November 12, 1952) is an American businessman. Burkle's investments and transactions include: Burkle has personally contributed millions of dollars to the Democratic Party and raised an estimated $100 million at celebrity-studded fundraising events he hosted for Democratic Party candidates at his Green Acres Estate in Beverly Hills, California. Ronald Wayne Burkle, 54, the California-born son of a grocery store manager, worked for his dad as a box boy, dropped out of college and put in 15 years at his dads store and the company that owned it. The effort failed. My father wanted me to go to college and become a dentist. Burkle tried college, but it didnt stick. Burkle parlayed a $3,000 investment in American Silver and another metals company into $30,000 and began investing in and flipping undervalued grocery stores. Ronald W. Burkle, one of California's richest men, has quietly amassed billions of dollars over the years, along with a collection of houses -- including the silent film star Harold Lloyd's former Beverly Hills estate -- and a prized art collection. We are delighted that you'd like to resume your subscription. The Yucaipa Companies is a premier investment firm that has established a record of fostering economic value through the growth and responsible development of companies. With a remarkable career as a businessman and investor, Ronald has been able to amass a sizable amount of income. Joe moved to San Diego from Oklahoma during World War II and took a job at a 11723. By this time Burkle had forged one of the most important connections of his career: In 1992 he met candidate Bill Clinton in Los Angeles, in the aftermath of the citys riots. [1] They had three children together. He had been ranked No. Pittsburgh Penguins co-owner Ron Burkle's abandoned attempt to bring the 30th MLS franchise to Sacramento has instead brought him legal troubles. A piker in a game dominated by $10 billion funds, Burkle built his fortune buying where no one else cared to gojunky companies with tense union relations, tortured finances and tattered physical surroundings. The son of a grocer, Ron Burkle started working at the market at age 13. Biography of Ronald Burkle. Janet Burkle claimed she was defrauded when she signed a 1997 post-marital agreement limiting her divorce settlement to roughly $40 million. Berkshire Hathaway Many gossip columnists at Rupert Murdochs New York Post were known to take money from personalities they covered through various side-hustles. Among the disclosures were that he reportedly had a private investigator follow and harass his ex-wife and her personal-trainer boyfriend -- allegations Burkle has denied -- and that he won a lawsuit filed by his 30-year-old daughter, Carrie, who claimed he owed her money taken from an investment fund. [8] In 2002, Burkle hired Clinton as a senior advisor on two Yucaipa domestic investment funds. [1][11], By age 13, Burkle had joined United Food and Commercial Workers Union Local 770. "He's probably the best employer we ever dealt with," said Ricardo Icaza, president of the Los Angeles local of the United Food and Commercial Workers union, who negotiated a number of labor contracts with Burkle when the billionaire owned supermarket chains like Ralphs and Food 4 Less. He also ingratiated himself with unions that could be cantankerous and difficult to deal with, including the Teamsters and the United Food workers. Yucaipa arranged for Clinton to make a speech at a Teamsters conference in 2003, and later Clinton urged Teamsters President James Hoffa Jr. to trust Burkle and present him with possible deals. Ron Burkle was born on Nov. 12, 1952 in Pomona, Calif., the first of two sons born to Joseph and Betty Burkle. The associate, who requested anonymity because of the criminal investigation, added that Mr. Burkle enjoyed his relative anonymity. Also in Epstein's address book are supermarket mogul Ron Burkle, Chelsea Clinton, former Secretaries of State Henry Kissinger and John Kerry, and media titan Rupert Murdoch, New York magazine noted. The son of California billionaire Ron Burkle was found dead at his home in Beverly Hills, California, the Los Angeles County coroner said Tuesday. [44], In 2020, Burkle made a major investment in the musical festival production Danny Wimmer Presents. What did Disney actually lose from its Florida battle with DeSantis? She has a bachelors degree in the history of science from Harvard University. They would raise three children; today the youngest, a son, is 14. "Supermarket Billionaire Ron Burkle's Lavish Mediterranean Trophy Estate in La Jolla, California." It is plausible that, in a decade, Clinton could walk away with tens of millions of dollars. [4][83] He has received numerous honors and awards from labor including the AFL-CIO Murray Green Meany Kirkland Community Service Award[84] and the Los Angeles County Federation of Labor Man of the Year. It backfired. "But he never acted like he was one of those billionaires you read about. [79][80], Burkle's honors and awards include the Los Angeles County, California Boy Scouts Jimmy Stewart "Good Turn" Award,[81] the AIDS Project Los Angeles Commitment to Life Award,[82] and the Los Angeles Urban League Whitney M. Young Award. Clinton writes of noticing that some stores were spared the widespread looting and arson in the riots and that he learned these outlets were owned by Ron Burkle, benefactor of the working poor. But to those who know Burkle, its just also another step in his risky, decades-long tango with the gossip press. Senator Hillary Clinton (D-NY) expressed concern that such investments could be used by foreign governments as "instruments of foreign policy. [78] In an interview with The Wall Street Journal, then-U.S. Ronald Burkle multiplied his fortune by merging, buying and selling supermarket chains, including Ralphs Grocery Co. and Food4Less. Burkle is also close with Bay Area power brokers, like former San Francisco Mayor Willie Brown and former state Sen. John Burton. With the Page Six imbroglio, that image of a powerful man with a low-key personality has now been turned on its head. The mainstream business press beats up on him, essentially for buying access and influence among politicians and leaders of the pension funds that invest with him (FORBES included). In 2006, this strategy backfired spectacularly. Ronald W. Burkle and Janet E. Burkle were married on March 23, 1974. Financiers Ron Burkle, Bob Yari, Marc Leder, Marvin Peart, Dan Schryer and East West Bank have partnered with CEO David Glasser and COO David Hutkin to launch of 101 Studios, a new global entertain Burkle and Ovitz also failed in a high-profile campaign to win a professional football franchise for Los Angeles. Burkle wont reveal the details, but it appears that Clinton gets a cut of any profits the company makes on two funds so long as their returns exceed 8% a year. He used the jet to fly himself, their young son, Andrew, and Clinton and his family to South Africa in 2003 for Nelson Mandelas birthday celebration, she said. By Doha Madani and Diana Dasrath. Burkle, in the court records, said he had a partnership with Clinton and the California Public Employees Retirement System, which invests in labor-friendly companies. He is joined by Eli Broad, who made his fortune (larger than Burkles) building homes and selling insurance. Ron Burkle, who has long been obsessed with gaining control over the hidden levers of power and celebrity, is like a boy who can't resist playing with fire. One of Burkle's closest pals is former President Bill Clinton, who heads a group of high-flying politicians with whom he is close. Republican Ohio Gov. His personal Boeing 757, which included a private bedroom suite, and was often used to transport important pals like the former president, was known colloquially among gossip journalists as Air F**k One., Burkle would often call reporters directlymyself included, during my years at the Daily Newsto spin the item of the day. Ron Burkle was born on Nov. 12, 1952 in Pomona, Calif., the first of two sons born to Joseph and Betty Burkle. You may change your billing preferences at any time in the Customer Center or call Burkle says he has no idea why he generates all the sniping, and he dismisses it as unimportant, even as his $500-an-hour lawyers churn out warning letters admonishing detractors and protesting his innocence. Mr. Burkle routinely refuses to grant interviews (though he is a front-runner in the scramble to purchase a dozen Knight Ridder newspapers) and has pushed in the courts and in the California Legislature to keep his divorce records confidential. , which owns the Chicago Tribune and the Los Angeles Times. LAND MAN Burkle is the son of a grocer who began working . He eventually sold the chains, including Alpha Beta, Ralphs and Food 4 Less, to Kroger for nearly $13 billion in 1999. Talking about Ronald's Career, he began his journey in 1986 after founding the private equity . But if Burkle and his phalanx of publicists and lawyers thought the "gotcha!" You will be charged News that the liberal, California billionaire has emerged as a .css-gegin5{-webkit-text-decoration:underline;text-decoration:underline;text-decoration-thickness:0.0625rem;text-decoration-color:inherit;text-underline-offset:0.25rem;color:#9a0500;-webkit-transition:all 0.3s ease-in-out;transition:all 0.3s ease-in-out;}.css-gegin5:hover{color:#595959;text-decoration-color:border-link-body-hover;}likely buyer for the National Enquirer is the latest startling twist in the long history of that tabloid, which was founded as a muck-raking New York weekly in 1926. April 8, 2006. He added, "It is also important in the newsrooms. At the time, his public image was of a supremely eligible, billionaire bachelor. Follieri is just making this stuff up. She purchased business suits, gowns, cocktail dresses and garden party outfits. Arnold Schwarzenegger that would have shielded Burkles financial information from public view. "It doesn't do me any good for people to know about me or know what I'm doing because if you're low key, I think you can get a lot more done," Mr. Burkle, now 53, told an interviewer for Talk magazine several years ago. In 1981 he mounted a botched buyout attempt of the chain and was fired. Burkle has a Boeing 757 with its own bedroom suite. Meanwhile, industry chatter about a Wasserman transaction spurred . Union leaders, Burkle said, could shun him because working closely with someone who purportedly lives that kind of lifestyle might upset the unions rank and file.. Its going to be mighty hard to keep up performance numbers like those, now that private equity investing is getting to be a fad, many billions are sloshing around and sellers expect to reap the benefit in the form of bidding wars. To ferret out new steals and deals, he counts on rainmaker Clinton. "[88][89] The Center has hosted UN Secretary-General Ban Ki-moon, and former U.S. presidents Bill Clinton and Jimmy Carter. [13], During the 1992 Los Angeles riots, Burkle refused to close his inner-city stores, a move for which he received praise. He does not look forward to competing in bidding wars. To some, it might seem odd that a major Democratic Party donor and longtime friend of Bill Clinton would want to buy such a lowbrow, conservative outlet. Burkle made his bid to the board at 6:30 one morning and hurried off to work, but the price was 20% less than what Petrolanes bankers had said they could get. Safeway Arnold Schwarzenegger and Los Angeles Mayor Antonio Villaraigosa. These he offered to Burkle for sale in bulkperhaps as holiday gifts for his large staff, or so went one suggestion. He left with $8,450 in pay, vacation and severance; he still keeps that pay stub and the handscrawled rsum he wrote summarizing his one-company career. Mr. The body of Andrew Burkle, who helped run a Hollywood production company, was discovered by autho Billionaires generally have big houses. Billionaires generally have big houses . Yet, according to those who know him, Burkle almost never seems to discuss politics or to seek special access or favors from the influential people he works so hard to befriend. When one item unfavorably contrasted him with a financier he detests, Burkles lawyers launched a letter demanding a retraction and an apology. [1][10][12] Less than two years later, Burkle dropped out. [8] Following "months" of negotiations, the two were not able to agree on a final payment for Clinton's advisory services, estimated at up to $20 million, and Clinton "walked away" from the potential payout. Burkle, in the papers, called the accounts exaggerated, saying that the aircraft, for example, belonged to his company and was not used for personal trips. Burkle's usual means of transport is the custom-converted Boeing 757 that Clinton calls "Ron Air" and that Burkle's own circle of young aides privately refer to as "Air Fuck One . Ronald Burkle. . As a mogul used to running a grocery retail and investment empire, however, he was driven to try and control the narrative. [23][24][25], The Penguins, under the ownership of Burkle, are the only North American sports team with ties to private equity that has won a championship. His father was an executive at the Stater Bros. supermarket chain and Burkle, armed with nothing more than a high school diploma, started at the stores as a bag boy, said Frank Quintero, Burkle's political adviser and the son of a Glendale City Council member. A bitter battle ensued, and Burkle won every round. He got us in with the Teamsters, and thats important for deal flow going forward.. He has been a corporate board member of the boards of Occidental Petroleum Corporation,[16] KB Home, and Yahoo! "As the Penguins enter a new chapter, I will continue to be as active and engaged with the team as I always have been and look forward to continuing to build on our success with our incoming . Billionaire Ron Burkle's son Andrew was remembered as a "giant among men" in an emotional tribute posted this week by his heartbroken brother. Ronald Burkle, Andrew Burkle (R) and John Burkle (L). Burkle's portfolio was by then worth some $5 million, and during the next five years, he continued to invest in stocks and oversaw his family's rental properties. [86], Burkle is founder and chairman of The Ronald W. Burkle Foundation. November 17, 2021 11:00 AM. When Petrolane decided to sell Stater, Burkle, then 28, worked in secret to line up a leveraged buyout; Munger agreed to have Berkshire put up half of the equity. [42] That same year, Burkle acquired a minority stake in Independent Talent through Yucaipa fund. [3][4], Yucaipa has executed grocery-chain mergers and acquisitions involving supermarket chains including Fred Meyer, Ralphs, and Jurgensen's, and once owned stakes in about 35 companies, including the grocery chains A&P and Whole Foods Market, before their respective demise and takeover. In the meantime Burkle, just like his competitors, can cover the light bills with an asset fee of 1.5% to 2% per year while waiting for the big payoffs that generate the 20% carry. We sustained losses, he says, but they were far less than at the other stores and chains.. Bill Clinton visited Ron Burkle at home in Santa Monica in July, 1997. paying Pellicano to investigate each other, Your Privacy Choices: Opt Out of Sale/Targeted Ads. And Stern, who has been suspended by the Post but was recently the guest editor for Gawker, a gossipy Web site, and Page Six have continued to attack Burkle with undisguised glee. [17], Burkle is often seen as a businessman who maintains close relationships with labor unions and works with unions to solve business problems. Subscribe to Forbes and Save. "[110][111], In April 2006, Burkle accused New York Post columnist Jared Paul Stern of attempting to extort money from him in exchange for stopping the publication of stories in Page Six, the paper's gossip column, about his private life. 2006-05-02 04:00:00 PDT Los Angeles-- Billionaires often seem more or less alike, doing what all superrich people do, only more so.Then there's Ron Burkle. Ronald W. Burkle, the co-founder of the . From the mid-1980's to the late 1990's, Yucaipa became Mr. Burkle's platform for assembling supermarket holdings in Southern California and elsewhere that made him one of the biggest grocers in the nation -- with stakes in stores like Food 4 Less, Ralph's, Dominick's and Fred Meyer. Meanwhile, industry chatter about a Wasserman transaction spurred . Californias then $165 billion state pension plan, Calpers, committed $760 million to Burkles funds. Along the way, Mr. Burkle has made an art of keeping his financial, political and personal lives as private as possible. Linked companies : Membership Collective Group Inc. They have insinuated, for instance, that Burkle, who is divorced, and Clinton were first introduced by a "lovely young lady;" that Burkle carefully avoided sitting next to some beautiful models at a Lionel Ritchie concert recently to conceal his womanizing; and that another mansion of his, in La Jolla (San Diego County), is a love nest. "[78], In 2009, Bill Clinton ended his relationship with Yucaipa due to potential conflicts of interest. He made at least one deal with the assistance of junk bond financier Michael Milken. Hes invaluable, Burkle says of his idol. According to numerous stories, Janet Steeper's ex-husband charged her with having an illicit relationship with her partner, an ex-con. The application accused her husband of spying on her, their young son and her boyfriend. He reportedly lost money in online ventures with former Hollywood super-agent Michael Ovitz. [22], Burkle played an active part in negotiations to construct the PPG Paints Arena for the Penguins. Every item on this page was chosen by a Town & Country editor. But for the most part, Mr. Burkle, who sits on the boards of the Occidental Petroleum Corporation and Yahoo, has avoiding engaging in high-profile business disputes. They got around in a fleet of luxury cars. The Greenacres estate -- once owned by silent-film star Harold Lloyd -- had a dining room that sat 20. "All I know him to be is a very decent guy," said Burton, who described Burkle as unassuming and earnest in his efforts to use his wealth to help working-class people. $ + tax He also writes the "No Regrets" column for the New York Times. This is such a tragic situation. After losing Florida Gore decided to buy a cable channel broadcasting Canadian news with 14 million subscribers from In December 2004 Burkle persuaded a judge to seal his recordsand took another media hit: He had contributed $20,000 to California Governor Arnold Schwarzenegger and $26,000 to the state Democratic Party a few months before the bill passed. He operates from a clutch of relatively nondescript offices on Sunset Boulevard in Los Angeles that once belonged to David Geffen, the DreamWorks co-founder. Los Angeles billionaire investor Ronald Burkle is the buyer of the Bob and Dolores Hope estate that recently sold in Palm Springs for $13 million, according to real estate sources not authorized . Her claims were rejected Thursday by a California appellate court. He worked stocking the shelves of his dads Stater Bros. store. [47], In 2014, Burkle acquired Soho House, a chain of hotels and private members clubs. The property formerly known as Neverland Ranch, home to the late Michael Jackson, has been purchased by Pittsburgh Penguins co-owner Ron Burkle, Burkle's spokesman confirmed to CNN Saturday. Burkle and Clinton spend hours flying together onboard Burkles The grocery magnates family life, the unsealed records show, was supremely up-market. Clinton got it to the point where Hoffa actually helped us with that deal, something I couldnt have gotten on my own, Burkle says. Burkle started buying Wild Oats stock in February 2005. [31] As of 2020, A-Grade's investment portfolio includes SeatGeek, SoundCloud, Uber, Warby Parker, Spotify, Foursquare, and Airbnb. Hearst Magazine Media, Inc. All Rights Reserved. Best coffee city in the world? Business triumphs: Sold Alpha Beta, Ralphs and Food 4 Less chains to Kroger for nearly $13 billion in 1999. [102] Burkle owns Greenacres, an estate built for Harold Lloyd. The two men would become close friends, albeit in the Presidents memoir, published in 2004, Burkle is cited only twice in 969 pages: He is one of 57 people named in the twelfth paragraph of 4 pages of acknowledgments; and their first meeting shows up on page 409.