|Ira L. Rennert|
|Born||May 31, 1934
Brooklyn, New York
|Residence||Sagaponack, New York|
|Alma mater||B.A. Brooklyn College
M.B.A. New York University
|Net worth|| US $ 6.5 billion
Ira Leon Rennert (born May 31, 1934) is an American investor and businessman. Today he controls one of the nation’s largest privately held industrial empires, and his personal fortune is estimated to be $6.5 billion.
Background and education
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.
Rennert started his career as a credit analyst on Wall Street in 1956. He also served as a partner at Rubin, Rennert & Co., before launching his own business, I. L. Rennert & Co. in 1962. At this time he was censured by the National Association of Securities Dealers for operating with insufficient capital.This occurred again in 1963 and as a result, his license was revoked on November 29, 1964, effectively banning him from the securities industry. According to a company spokesman, Jon Goldberg: “Due to market conditions, the firm found itself in violation of the net capital rule and Rennert raised capital and put it into the firm to bring it into compliance. However, the firm once more fell beneath the net-capital requirements and he shut the company down.”