Ira Rennert’s profile picture

Ira Rennert

Ira Rennert’s profile picture
Net worth 2018: $3.85 Billion
Industry: Investments
Residence: New York, New York
Country: United States
BirthDay: 31 May 1934
Sigh: Gemini
Children: 3
Education: Bachelor of Arts / Science, Brooklyn College; Master of Business Administration, Leonard N. Stern School of Business
BIOGRAPHY

Ira Rennert was bornon 31 May 1934 in New York, New York, United States. Ira Rennert is #578 in List Billionaires People In The World. Ira Rennert is the founder of the Renco Group, an industrial empire that claims to have revenues of over $5 billion annually. Renco's holdings include a stake in military truckmaker AM General, lead and zinc producer Doe Run Company, and U.S. Magnesium Corp., among others. His mother emigrated from Poland at age 3 and his father came from Romania at age 14. A Brooklyn native and former credit analyst, he began building his fortune by investing in junk bonds in the 1980s.

NET WORTH STATISTIC
2009

$5 Billion

2010

$4.5 Billion

2011

$5.9 Billion

2012

$6.5 Billion

2013

$5.5 Billion

2014

$6.3 Billion

2015

$4.8 Billion

2016

$3.9 Billion

2017

$4.1 Billion

2018

$3.85 Billion

TIMELINE
2013

In 2013, Doe Run shut down its lead smelter, entirely discontinuing emissions in Missouri

2011

On January 14, 2011, the United States Court of Appeals sided with the EPA and upheld placing the site on the National Priority List

2010

The Rennert family also funded the construction for a new mikvah at the Fifth Avenue Synagogue, which was completed in May 2010

2009

USM filed its petition for review of the listing in the United States Court of Appeals for the District of Columbia Circuit on November 5, 2009

2008

The EPA published its proposal to place the US Magnesium facility on the National Priorities List (NPL, a "Superfund site" under CERCLA) in the Federal Register on September 3, 2008

2006

and won an MEP award in 2006 for Environmental Consciousness

2005

By 2005, the most recent year of data released by the EPA, emissions had been reduced by 97%

2004

US Magnesium was the recipient of a 2004 Climate Protection Award from the EPA

2002

A 2002 study showed more than half of the children living within a quarter mile of the smelter had high blood-lead levels

2001

An EPA fact sheet noted the following: "Since 2001, EPA, MDNR and The Doe Run Company have addressed lead contamination in Herculaneum through a series of actions which have included residential soil replacements, home interior cleanups, and a voluntary residential buyout program

2000

In 2000, the EPA and the Missouri Department of Natural Resources tested area lead levels and ordered Doe Run to clean up locations where lead levels exceeded EPA standards

1998

) By 1998, the year the Renco was placed on the EPA list, Renco had reduced emissions at US Magnesium by 50%

1997

As part of the sale to Renco, Centromin agreed to pay to remediate pre-existing (pre-1997) environmental problems and Doe Run Peru agreed to make substantial environmental investments

1995

In a series of junk bond issues since 1995, Renco’s subsidiaries have borrowed an estimated $1

1993

In 1993, Renco acquired AM General from the LTV Corporation to help LTV emerge from bankruptcy

1992

His purchase of AM General in 1992 was bought with a down payment of just $10 million

1991

the 1991 book Den of Thieves about the junk bond scandal)

1989

(US Magnesium was purchased by Renco in 1989 in the year in which its emissions peaked at 119,000 tons per year

1988

In 1988, Renco bought a Warren (Ohio) steel company from its bankrupt parent, LTV Steel Co

1987

The EPA data recognizes this as the single largest reduction in air emissions in the category of hazardous air pollutants since the TRI began in 1987 at any single facility

1976

Magnesium was not following regulations promulgated under the Resource Conservation and Recovery Act of 1976, which dictates how waste byproducts must be disposed

1964

This occurred again in 1963 and as a result, his license was revoked on November 29, 1964, effectively banning him from the securities industry

1956

Rennert started his career as a credit analyst on Wall Street in 1956

1954

Rennert is a graduate of Brooklyn College in 1954, and earned his master's degree from New York University's Stern School of Business in 1956, where he later was on the Board of Overseers

1934

Ira Leon Rennert (born May 31, 1934) is an American investor and businessman

1922

The La Oroya smelter began operations in 1922 and was operated for many years by Centromin, a Peruvian government agency, without any environmental controls

1892

Locals in Herculaneum claimed their children were suffering from lead poisoning traceable to toxic emissions coming from Renco's Doe Run lead smelting plant, which had been in operations locally since 1892

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