What is Ron Burkle’s Net Worth?
Introduction
As of July 2022, Ron Burkle’s net worth is estimated to be roughly $2 Billion.
Ron Burkle is an American billionaire entrepreneur.
Burkle is co-founder and managing partner at The Yucaipa Companies. The Yucaipa Companies is a private investment company that specializes in U.S. companies in the distribution and logistics, food, retail and consumer, hospitality, sports and light industrial sectors.
The company has completed grocery chain mergers or acquisitions that involved Fred Meyer, Ralphs and Jurgensensen’s. It once owned shares in around 35 companies, including Whole Foods Market, A&P, and Whole Foods Market.
Early Life
Ronald Wayne Burkle, a Californian, was born on the 12th of November 1952.
Burkle is the child of Betty Burkle and Joseph Burkle. Burkle stocked the shelves of his father’s grocery store with bread and used corralled shopping carts to get groceries. Burkle joined the United Food and Commercial Workers Union Local 7770 when he was thirteen years old.
At 16 years old, he graduated high school and enrolled at California State Polytechnic University Pomona in dentistry. Burkle dropped out two years later. Burkle was 21 years old when he invested $3,000 in American Silver.
Career
Yucaipa Companies was established by Burkle in 1986. This private equity firm invests in U.S.-based companies in hospitality and sports, entertainment as well as logistics, logistics, food, consumer, industrial, retail, manufacturing and distribution.
He refused to close down his city stores in 1992 during the Los Angeles riots. He was a chairman of numerous companies including Golden State Foods, Alliance Entertainment, Dominick’s Foods, Fred Meyers, Ralphs, Food4Less and Dominick’s.
Burkle is often described as a businessman that has close relationships with labor organizations and works with them in solving business problems. Burkle was part-owner in the 1999 saving of the Pittsburgh Penguins.
He was involved in negotiations to construct PPG Paints Arena. Burkle’s union connections led him to become one of the owners who helped Commissioner Gary Bettman to end the NHL lockout 2012-13.
Burkle, through A-Grade Investments, has made investments in technology startups.
Burkle invested in Artist Group International in 2012, a concert-booking firm that has served clients like Rod Stewart, Metallica, Billy Joel and Metallica.
Burkle also invested in Three Lions Entertainment, a branded entertainment company that focuses on entertainment events and cross-platform promotion.
How Does Ron Burkle Spend His Money
Ron Burkle uses his money for charity and real estate.
Burkle has a California house. The home has 9 bedrooms and 13 baths. It’s located on a 5.5-acre property in La Jolla Farms. One of the most exclusive and wealthy enclaves of California.
Burkle has contributed to charities such as The Scripps Research Institute, The Carter Center and the National Urban League. He also helped to create The Frank Lloyd Wright Building Conservancy. In 1997, Burkle donated $15 Million to construct Walt Disney Concert Hall.
Three Business Lessons From Ron Burkle
Now that we know everything about Ron Burkle’s networth and how he became successful, let’s see some of the lessons that can be learned from him.
1. Supermarkets
One of the best ways to increase profitability is to reevaluate how supermarket companies do logistics.
2. Never lose sight of your dreams
Burkle started as a boy in a box. Burkle didn’t go on to college. He did well in supermarkets.
3. Bad things will happen
Accept that you will not only achieve success but that failures will also be part of your journey to becoming successful.
Favorite Quotes From Ron Burkle
We didn’t have the commitment to win, I thought. Someone was saying. This is how to close the year without writing a check. This is the best way to close the year with a few dollars in your bank account. That was the wrong direction, I thought.
There are extremes in all aspects of investing and perhaps even general investing. I was the chairman of Kroger’s executive committee in the late nineties when there were many supermarkets. I thought multiples were too expensive and that Wal-Mart was not being paid enough attention.
There are many opportunities for capital expenditures when it comes to remodeling stores. There are also many opportunities in terms of re-merchandising. Their team, while I believe they have many loyal and good people, probably has very little energy.