Self-made billionaire Kirk Kerkorian died Monday, June 16, at his home in Beverly Hills, CA. A spokesman for MGM Resorts International made the statement, but gave no cause of death.
Kerkorian was an eighth grade dropout who made his money by buying and selling stakes in airlines, auto companies, Nevada casinos and Hollywood Studios. He was the controlling shareholder of MGM Grand, which is now known as MGM Resorts International, until May 2009 when he reduced his stakes in the company from 54 percent to 37 percent.
According to The New York Times, Kerkorian was born poor in Fresno, CA in 1917 to Armenian fruit growers. He was one of four children, and dropped out of school to become a boxer before he bought and sold a tiny airline named Trans International Airlines.
Kerkorian's net worth equaled out to $4.2 billion, and over his lifetime he gave away more than $1 billion through a foundation he named after his two daughters. This generous amount of money included a $200 million donation to The University of California at Los Angeles in 2011.
Kerkorian is survived by his daughters, Tracy Kerkorian and Linda Kemper, as well as three grandchildren.