Theo Paphitis

Hi mates Theo Paphitis is one of my favorite entrepreneur, he born in Limassol, Cyprus on September 24, 1959, His family immigrated to England in 1965. He attended a local school in North London, where he gained an entrepreneurial interest at the age of 15, after working in the schools snack shop, selling confectionery finger-food, such as sweets, crisps and fizzy drinks. At 16, he sought a job at Lloyds of London as a tea boy and filing clerk, which he later described as the worst job he ever had. In his search for a better job and looking to make more money he took a job at Watches of Switzerland, when he was 18. By the age of 20, he decide to move into finance and specialize in corporate turnarounds. In his quest to find a good paying job Theo remarked “no one would give me a job and I couldn’t understand how any of the half-wits that interviewed me got their jobs.” In 1982, He formed a company with his close friend Mark Moran in the property finance business, the boom in commercial property market helped him amass a sizeable profit. Soon afterward Theo noticed a trend in the mobile phone market and bought into NAG Telecom, eventually becoming a chairman. He used his financial position to negotiate a deal with Ryman Stationary, a company founded more than 100 years earlier, that had gone into receivership. Theo approached the accountants in 1995 and offered to buy the company. After acquiring Ryman, he paid off the suppliers and creditors and turned the company into a 350+ store chain, introduced a mail order catalog in 1996 and an online store and website in 1998. This venture has turned into a $250 Million (GBP) turnaround for Theo.

During this time, Theo spent eight years as Chairman of Millwall Football Club The Lions, taking them out of administration and into a championship and eventually the FA Cup Final. His additional business ventures include La Senza, a lingerie company which he sold in 1996 for $148 Million (USD) , Contessa another lingerie concern, and Partners Stationary. He also has acquired Red Letter Days, an ‘experience company’, that for a fee will give your gift recipient the thrill of driving a Lamborghini, play secret agent for a day,  skydiving, or orbing.Theo also has starred on BBC’s Dragons Den as a celebrity judge. The reality TV show invites entrepreneurs to come on and pitch their business ideas. The judges will select a winner in which they will invest money into partnering with the entrepreneur on their business venture.

      Theo Paphitis is ranked 581st in the Sunday Times Rich List with a net worth of 135 Million (GBP), equivalent to about $200 million (USD). Theo attributes his success to common sense, and his favorite quote is: “KISS: Keep It Simple Stupid”. His view on business is: “There are three reasons for going to work, one to make money, two to have fun, and three don’t forget to make some money.” Theo Paphitis is also a philanthropist, giving generously to children’s charities.

Liliane Bettencourt

Liliane Bettencourt is the only child of L’Oreal founder, Eugene Schueller. Her mother passed away when she was just five years old. This certainly made conditions difficult for a young and maturing girl but Bettencourt met life with great success with her father’s aide.In 1957, she inherited the L’Oreal fortune. This, accompanied with her marriage to the French politician Andre Bettencourt gave her notice. However, Liliane is a private individual and has always made an effort to stay out of the public’s focus. She is the second richest person in France, one of the largest in the world, and not surprisingly, the richest woman. Though modest, she must uphold some esteem for her successes in life.

One of her biggest achievements is in the creation of the Bettencourt Schueller Foundation. It was a foundation created in her father’s memory. Its mission is to help initiate support and develop projects within the medical, cultural, and humanitarian areas. It devotes approximately 60% of its budget in support of medical research. It is extremely active in the effort to treat HIV and AIDS. It also provides awards in the medical arena. The Liliane Bettencourt Life Sciences Award is given to a European researcher of at least 45 years in age, who is well known in his field and shows essential promise in his/her research project. The Young Researchers’ Award awards up to 14 prizes annually to young researchers involved in life sciences. French laboratories also gain reward for their biochemical research if they are selected. Gain is also obtained through ORVACS which focuses on a vaccine for HIV/AIDS. SOLTHIS is also hugely supported for its ongoing efforts in the research of HIV/AIDS.In areas of culture, the foundation supports talented artist or craftsmen in an attempt to make known works of great quality.  As an expression for her enjoyment in choral music, the Foundation also awards an annual prize for choir singing. An award is also given to a skilled manual craftsman in recognition of his work which most often goes without notice.

In regards to humanitarian efforts, programs are developed to help children, as well as their parents, with reading and other incentives to accommodate them in a productive life. The efforts made here are a significant indicator in the make up of a woman who is hushed in audience regard. Funding for the foundation is contributed by her and family. Any capital made from programs involved in the foundation, are reinvested in the usage of these programs as well as the development of others. In respect to this woman, who at first glance had seemed to accomplish so little, I can only say that silence is most honorable.

Jera Deal

All parents enjoy playing little games with their children from time to time.  We are told that playing games with our children helps their little brains to develop and their personalities to become better rounded.  So, we play all sorts of games with them to help with their overall adjustment.  Some parents buy games at the local department store that are geared towards fun or education.  That is the normal pattern followed.  Then there are those who make up little games to deliver fun and education to their toddlers.  That is all good but one parent took it a step further.  Jera Deal, a 34-year-old housewife from Illinois turned her family’s game into a fortune.

She and her husband Brad had developed a game that was meant to assist their toddler to learn the letters of the alphabet.  They created a game of letter finding that could be played almost anywhere.  There was no game board and no pieces of any kind.  This activity was geared towards finding letters in architecture and nature.  Sometimes you can find sticks or stones in the shape of a letter.  You can find letters in many things around you if you just look.  She began to take pictures of these and then use them to play with her daughter.  Little did she know that she had stumbled upon am entrepreneurs dream.  She had found a niche in the gift giving market and it was about to explode.While she was helping out at her daughter’s preschool class it was announced that the teacher was getting married.  She was torn over what special present she could come up with that would create a special memory that would last a lifetime.  She took it up with her husband Brad and they came up with a very clever idea.  They went through the photos of letters that they had taken and spelled out the bride to be last name.  In addition they framed these letters and created a quaint little keepsake.  The teacher loved the gift and so did everyone who saw it.  Can you say entrepreneur fever?

She knew that they had stumbled upon a unique gift idea.  They decided to create a website in 2005.  ‘Sticks and Stones’ was born. They put together a catalog of their favorite letter pictures in frames and began the effort of marketing it everywhere they could think of.  Getting your brand out there can be a long and tiresome journey, unless you think out of the box.  The new business was starting to hold it’s own but they needed a big break.  That break came in the form of Oprah Winfrey.  They visited her show and somehow managed to get her attention and offer her a free gift from their company.  Oprah loved it and the rest is history.  Oprah wanted one to give to Tom Cruise and family.  Her endorsement gave ‘Sticks and Stones’ an incredible boost.

This young entrepreneur had taken a game played with her child and turned it into a multi-million dollar empire.  Through it all this family has remained grounded.  Their entrepreneur spirit has made many of their dreams come true but they remain devoted to their community and the family that made it all possible.

Alki David

Alki David was born in 1968 in Lagos, Nigeria, West Africa, His family owned a Greek shipping and trading company. He attended the Stowe School in the UK as well as Le Rosey in Switzerland. He entered London’s prestigious Royal College of Art and graduated from the film program. Alki was never quite sure what he wanted to do as a young man. His employment history includes such jobs as a laboratory analyst for Coca-Cola, a fish-farm laborer, a commodities broker on world markets, a water skiing instructor, advertising salesman, scuba instructor, radio jock and a brief stint in the British Army. Although his past was uncertain, presently, he is number 47 on the Sunday Times Rich List with an estimated fortune of over ?1.5 billion. After graduating from the Royal College of Art, he ventured into movie production, which led him to Beverly Hills California in the United States. In 1991, he moved to California, where he founded and operated a post-production facility called Beverly Hills Video Group. For the following seven years, he operated his studio, most likely this is where he made the majority of his early contacts in the business that would later prove to be profitable in his acting and directing career.At 27 years old, Alki founded the non-profit BIOS organization to conserve, protect and educate on marine conservation around the Greek Isles. BIOS also sponsors an annual free-diving event held at David’s Greek-island home of Spetses.

In 1998, he sold his Beverly Hills Video Group and returned to his London home. In London, he entered a joint venture with Duncan Heath, chairman of ICM Europe. The joint venture included a television production company and the now-famous modeling Agency, ICM Models.

In 2004, Alki returned to acting in TNT’s hit mini-series, The Grid. He also is an accomplished writer and producer, having to his credit The Freediver and Fishtales. He has produced a series of mini videos on ‘youtube’ promoting a reality show, called ‘Killing the Cheeky Girls’ and prank videos he calls “Road to Hell’.Alki partnered with veteran film producer Elliot Kastner in 2006 to form 111 Pictures LTD in the UK. His independent production and international sales company to produce and market films. His most recent film, Fishtales, stars Kelly Brook and Billy Zane. Alki co-wrote, directed and starred in this family comedy-fantasy. Some filming took place on the Greek Island of Spetses where Alki has a home. The film premiered at the Cannes Film Festival in 2007 and released in theaters that August in the UK, USA and Canada.

Today, Alki David operates and manages a media company, which he founded, Full On Entertainment. Full On has film and television production companies in Los Angeles and London, in addition, owns a recording label Rock label, which he distributes through Universal Music UK, a modeling agency and Internet content development. His most recent project is FilmOn.com, a video-on-demand website that netted more than £7 million in profits in 2008, its first year of operation.

Deborah Meaden

Deborah Meaden born In Somerset on February 11, 1959, Deborah’s parents divorced when she was young. Her mother moved to Essex taking along Deborah and her sister Gail. Deborah’s mother re-married Brian and they built a leisure park known as West star  Deborah and her sister, along with two stepsisters attended boarding school. After graduating boarding school, Deborah attended Brighton Technical College studying business and then working part-time as a sales-room model. Three months later she left for Italy and at the age of 19 she opened her first business, with limited capital she launched a glass and ceramics import company supplying upscale stores like Harvey Nichols. After 18 months, financial problems plaguing the young entrepreneur, she chose to close down her business.

         She later would be quoted as saying, I consider it a failure to slog on with a business that is going to die sooner rather than later, and that’s a skill I’ve had from my very, very early days. It’s very difficult to realize that you’re not going to make any money out of something. A lot of people are blinded, they think, ‘I can’t give this up. I’d feel like a failure. Walking away from her first business venture and determined not to give up on her entrepreneurial dreams, Deborah along with a partner bought a franchise in the Italian footwear and clothing company Stefanel. This would be the first Stefanal franchise in the UK. She recalls what a fantastic experience this was because it helped teach her a lot about retail marketing and the franchising industry.Nevertheless, after two years she wanted to move on and having become dissatisfied with the business, she sold her share to her partner for £10,000, deciding to try her hand at other ventures. After several successful ventures, her Mother and Brian offered her a position at the family’s amusement park WestStar Holidays. Within two years, she became managing director and built the company up from one to five holiday parks, providing more than 150,000 people per year a family holiday.

During this time, she married a former employee of the park, Paul. As she became more involved in Weststar, she decided in 1999, to take over the business. Securing the funds from Lloyds, she finally was able to exercise full control over the business and establish it as the best. She sold two of the smaller parks, keeping the larger, more profitable sites. She described this transformation of the company into a ‘lean mean fighting machine’.In 2005, after receiving several offers from interested parties, Deborah sold a 77% stake in Weststar to Phoenix Equity Partners for £33 million. She held a 23% stake and an active role within the firm. In 2007, She sold her remaining stake in the business when Parkdean Holidays bought Weststar for £83 million. Currently she is a Judge on the BBC2 edition of Dragons Den; a reality based show that has entrepreneurs come on TV to pitch their business ideas. Deborah has invested personally in several of these ideas. Her and her husband, Paul, reside in Somerset on a restored model farm with their two horses and three cats. The couple also has a home in Primrose Hill, London.

Jenna Jameson

Jenna Jameson was Born Jennifer Marie Massoli on April 9, 1974 in Las Vegas, Nevada. Her father was a police detective with the Las Vegas Police department, and her mother was a showgirl. In 1976, her mother died from skin cancer, leaving her father and grandmother to raise her. As a child she entered several beauty pageants and took up ballet class. According to her autobiography, The family moved to a cattle ranch in Fromberg Montana where in October 1990, she was beaten with rocks and gang raped by four boys after a football game. She also claims she was raped a second time, that same year, by her boyfriend’s biker uncle, Preacher. Scared to tell her father, she left home and moved in with Jack in her first serious relationship. They later moved back to Las Vegas, where Jenna sought employment as a showgirl, like her mother. She found employment at the Vegas World show; however, she quit after two months because of the brutal schedule and low pay. Her live in boyfriend, Jack, encouraged her to apply for a job as a stripper, and in 1991, at 17 years old, she began dancing in Las Vegas strip clubs using a fake I.D. She applied at The Crazy Horse Too strip club, and was told they would not hire her because of the braces on her teeth. That night, she removed them with a pair of needle-nose pliers and the following day they hired her. Within six months, Jenna was earning about $2,000 per night. A bout with drug addiction from 1991 until 1994 slowed her career considerably. She went to live with her father in Redding California in 1994 to detox. On December 20, 1996, Jenna married porn star Brad Armstrong Rodney Hopkins. They were only together for 10 weeks, informally separating in March 1997, and divorcing in 2001.

      In the summer of 1998, Jenna met Jay Grdina a former pornographic studio owner and heir to a wealthy cattle-ranching family. Jay began his pornographic film production career after college. The two fell in love and developed a hugely successful business relationship. Since 1998, Jay is the only on-screen male sex partner to Jenna, acting under his stage name, Justin Sterling. Jay proposed in December 2000 and they married June 22, 2003.

Jay helped Jenna further her career, by 2001, she was earning $60,000 for a day and a half of filming a single DVD, and $8,000 per night dancing at strip clubs. In 2000 Jenna and Jay formed ClubJenna as an Internet pornography company. ClubJenna.com provided explicit diaries, relationship advice, and even stock tips to paid members in addition to pictures and videos. Within three weeks, the site was turning a profit. The business later diversified into multimedia pornographic entertainment, first by administering other porn stars’ websites, then, in 2001, by production of pornographic films. The first ClubJenna film, Briana Loves Jenna (2001), co-produced with Vivid, cost just under $300,000 to make, and grossed over $1 million in its first year. Jenna’s films averaged sales of 100,000 copies, compared with industry standard pornographic films, which would sell about 5,000 copies. Her success in ClubJenna turned into a multimillion-dollar enterprise grossing more than $30 million in 2007.  In 2008, Jenna announced her retirement from pornography, yet she will continue the more than 150 websites owned by ClubJenna.

Philip H Knight

Philip H Knight born in Portland Oregon on February 24, 1938, Philip H. Knight would become “the most powerful person in sports.” He is the co-founder and current Chairman of the Board for Nike, Inc. Phil Knight attended Cleveland High school in Portland Oregon and after graduation, went on to attend the University of Oregon in Eugene, where he earned a journalism degree in 1959. It was at the University of Oregon that Knight found his love for athletics as a middle distance runner in track and field under the tutelage of Coach Bill Bowerman. He received varsity letters in 1957, 1958 and 1959 for track and had achieved a personal best mile of 4:10. After graduating in 1959, Knight enlisted in the US Army, serving one year active and the following seven as a reservist. During his reserve duty, he attended Stanford Graduate School of Business, to obtain his Master of Business Administration. It was in a business class that Knight discovered he had a passion other than athletics, and that was as an entrepreneur. His instructor, Frank Shallenberger, had assigned him to write a business plan on something he enjoyed and knew about.

     That assignment led to the inspiration by Knight to form a company selling shoes to athletes. His paper, titled, “Can Japanese Sports Shoes Do to German Sports Shoes What Japanese Cameras Did to German Cameras?” was directed at answering the question whether a shoe could be designed and manufactured for less with better quality than the current leader in athletic shoes, Adidas. The paper he wrote inspired him so much that after graduating from Stanford with an MBA in 1962, he actually put his fictitious work into practice by flying to Japan and meeting with executives of Onitsuka Tiger Co, a manufacturer of Adidas knockoffs. He told the Tiger executives he was the head of Blue Ribbon Sports (a fictitious company he created to convince Tiger he was a serious buyer), and that he wanted to distribute their shoes in the United States. Tiger officials agreed to send him samples after Knight convinced them he would place a large order once he was able to show the samples to his partners. Upon returning to the United States, Knight borrowed $500 from his father to pay for the samples and start up his business. Shortly thereafter he received the samples and immediately sent a few pairs to his former coach Bill Bowerman in hopes that coach Bowerman would buy them and help promote the shoes to his athletes. Bowerman, instead offered to put up $500 and join Knight as a partner in this new venture.

   The two new partners officially formed Blue Ribbon Sports in 1964, purchased 200 pairs of shoes from Tiger, and began selling to athletes at Track meets throughout the Oregon and Washington region. Knight’s storefront was his early 1960s Plymouth Valiant. Knight had to maintain his job as an accountant, while selling shoes, however by 1969, he was able to leave his job and begin working full-time for Blue Ribbon Sports.

In 1971, with sales exceeding $3 million, Knight decided to break with Tiger and start designing their own line of shoes named Nike suggested by a friend, Jeff Johnson, after the Greek winged goddess of victory. Knight commissioned Portland Sate art student Carolyn Davis to create the ‘swoosh’ logo as Bowerman devised the waffle sole for better traction. The new Nike shoe debuted in 1972. Utilizing sports figures to promote his shoes, Knight embarked on an advertising campaign that included the likes of John McEnroe, and later Micheal Jordan.

Sales flourished tremendously and in December, 1981 the company name officially became Nike, Inc. By 1986 Nike sales hit a tremendous $1 billion, becoming the number one selling shoe in the world. In 2004, Philip Knight stepped down as CEO, and remains as chairman of the board. Utilizing creativity and inspired by his own driving desire to build a better shoe, Philip Knight created from a fictitious ‘paper’ company, a billion dollar Industry and as of 2008 is the 30th richest man in the world with assets of nearly $10 Billion.

Ray Kroc

Ray was an American entrepreneur.  He had been most famous for expanding the McDonald Corporation from 1955.  He did not actually find the restaurant chain himself but had bought the corporation from Dick and Mac McDonald in the year of 1940. Ray had been born in Oak Park, Illinois.  He was the first businessman to apply principles of a mass production in an industry.  Ray was a school drop out but a master at creating everlasting brands such as McDonalds which has taught many corporations how to maintain effective and productive business.

Ray had believed that an opportunity only came once and that he took his chances as they appeared to him.  He had lied about his age around his 15th year and landed himself the job of an ambulance driver for the Red Cross, during the First World War, with Walt Disney.  He had soon finally settled down as a salesman.  He had started selling paper cups.  He eventually became a multi-mixer milkshake machine salesman who had traveled all over the country peddling his wares.

       Ray Kroc had realized that one of his largest customers was a California restaurant owned by the McDonald brothers.  The salesmanship of Ray Kroc convinced the McDonald brothers to make him their exclusive agent and in 1954 Kroc had opened his own McDonald’s drive-in in Des Plaines, Illinois and later had established the McDonalds Corporation officially.  He guaranteed that the French Fries customers bought in California would taste the same as the ones purchased in New York City.  By 1960, there were over 200 McDonald’s franchises spread across the US. But low franchise fees led to minimal profits. He had had a difficult life, and had suffered from arthritis and diabetes.  His gall bladder and thyroid gland were already surgically removed but he had the desire to succeed burnt throughout his body.  Eventually Kroc had succeeded in convincing the McDonald brothers to sell the company to him and had paid $2.7 million for it.

Kroc made two major decisions which enabled McDonalds to grow and thrive.  He began buying up land and became the landlord to eager franchisees. Kroc also introduced national advertising programs to support the rapidly growing franchise.  These two subsidiaries generated substantial profits.Ronald McDonald made his debut in 1963 and within 6 years the clown was known to 96% of American kids. In 1965, McDonalds went public with franchises in 44 states and sales of $171 from its 710 stores.  Kroc made $3 million from the sale.

The “Big Mac” was invented in 1967 in Pittsburgh by Jim Delligatti, who was looking for ways to increase sales. In less than a year, the sandwich spread throughout the chain, becoming the chains mainstay.  In the 1970’s Kroc took the company overseas and McDonalds became a global juggernaut. In January, 1974, Ray Kroc purchased the baseball team, the San Diego Padres.  Unfortunately for Ray, he died a few months before they won their first penant. They were the team of a true champion.

Roman Abramovich

Abramovich’s life started out very difficult.  His mother passed away when he was 18 months old and his father was killed in a construction accident when Abramovich was at the age of 4.  He was raised by 2 different uncles and lived in many different Russian orphanages. Abromovich attended the Industrial Institute before he was drafted into the Soviet Army.  He later earned a correspondence degree from the Moscow State Law Academy. In the late 80’s Soviet president Mikhail Gorbachev’s allowed for individual ownership of small businesses. The entrepreneur, Abramovich started 5 companies between 1992 to 1995, all specializing in the oil industry.

Abamovich chose a great industry.  With his partner, Boris Berezovsky, he became majority owners of Sibneft, a major oil company.  During the 90’s Abrmovich also acquired private aluminum holdings and merged them with holdings of Oleg Deripaska to form the world’s second largest aluminum producer, Russian Aluminum. Abrmovich got into politics in 1979 representing the poor region of Chukorta Autonomous Okrug in the State Durma.  He was elected governor of Chukorta in 2000 and also started the charity Pole of Hope which which sends children to summer camps and sends shipments of food aid to Chukotkan villages.  .Abmovich has invested hundreds of millions of pounds in Chukotka building a college, a hospital, a pre-school, hotels, renovating the local airport and funding new or renovated schools in many towns and villages.  His company, Sibneft, used Chukotka as a tax haven, but also reinvested much of the tax savings in the district

In September 2005, he sold 73% of Sibneft to Gazprom, a company controlled by the Russian government for $13 billion pounds. In May 2006, Abromovich announced plans to purchase 54% of Russia’s biggest Steel producer, Evraz.

Abromavich is a big fan of European football (soccer).  In June 2003, he bought the Chelsa Football club in the United Kingdom.  Abrromavich began a plan to make Chelsa a worldwide brand. He has been pouring million of GBP into the club.  Chelsa announced a loss of GPB 140 million for the year ending June 2005 but the purchase and subsequent investment in the English club, caused problems in Russia.  To remedy the pressure in Russia, Abramovich invested $58 million in CSKA Moscow.

Abromovich is a firm supporter of Jewish causes in both Russia and Israel.  The Abromovich neighborhood in Tel Aviv has received donations for several projects. Other interests include the “Abromovich Navy” which consists of 3 luxury yachts and he is a patron of the Arts, including sponsoring an exhibit of photographs of Uzbekistan by Max Penson.  Abromovich   has acquired homes in the South of France (former home of the exiled Duke of Windsor), a 440 acre estate in West Sussex and a residence in London.

Howard Hughes

               

      Hello all my mates, my first entrepreneur is Howard Hughes, he was a complex man.  He was a pioneer aviator, engineer, industrialist, film producer and a playboy.  He became one of the world’s wealthiest men, a billionaire.Hughes first 2 films, Everybody’s Acting and Two Arabian Knights, were financial successes in 1927.  Two Arabian Knights won Academy Awards for Best Director of a Comedy Picture in 1929.  Other Hughes films nominated for Academy awards were, The Racket in 1928 and The Front Page in 1931.  One of the first big budget films, Hell’s Angels, cost $3.8 million.  Hughes not only wrote and directed the movie, but he financed the movie himself.  In 1932, Hughes also produced Scarface, which was loosely based on the life of Al Capone.  The 1941 film, Outlaw, made a star of Jane Russell  but caused the industry censors concern due to the special bra that Hughes, the engineer designed for the revealing costume Jane Russell wore.

       Hughes the playboy, spent much of his time in Hollywood with many famous women such as Katharine Hepburn, Olivia DeHavilland, Ava Gardner, Bette Davis, Lana Turner, Gene Tierney and Joan Fontaine, whom he proposed to on two separate occasions. Hughes father, Howard Robard Hughes Sr, found of the Hughes Tool Company.  His wealth came from inventing the ‘rock eater’, a drill bit that revolutionized oil drilling .Hughes Aircraft Company was founded in 1932 by Hughes as a division of  Hughes Tool Company.

Hughes designed and built several aircraft himself while heading Hughes Aircraft and the most technologically important aircraft was the Hughes H-1 Racer., Hughes, flying the H-1, set the airspeed record of 352 mph in September 1935.  The H-1 Racer featured a number of design innovations including retractable landing gear and all rivets and joints set flush into the body of the plane, to reduce drag.  The H-1 Racer was donated to the Smithsonian in 1975 and is on display at the National Air and Space Museum.  On July 10, 1938 Hughes set another record by completing a flight around the world in just 91 hours.

     Due to his aviator feats, he received numerous awards, including the Harmon Trophy in 1936 and 1938, the Collier Trophy in 1939, the Octave Chanute Award in 1940, and a special Congressional Gold Medal in 1939..in recognition of the achievements of Howard Hughes in advancing the science of aviation and thus bringing great credit to his country throughout the world.Hughes took control of RKO studio’s in 1948.  Within weeks of taking control, Hughes fired ¾ of the employees causing production to be shut down for six months.    His over controlling style continually caused disruption with shooting schedules.  After the settlement of the antitrust case, United States v. Paramount Pictures, Inc, Hughes was forced to sell the profitable the RKO theaters chain in 1953.By the end of 1954, at a cost of nearly $24 million, he had gained near total control of RKO.  Six months later, Hughes sold the studio to the General Tire and Rubber Company for $25 million.  This was the end of his 25-year involvement in motion pictures. Despite the fact that Hughes had destroyed a major Hollywood studio, his reputation as a financial wizard emerged unchanged since he reportedly made $6.5 million in personal profit from RKO.

One of the least known endeavors of Hughes was the Howard Hughes Medical Institute, one of the richest charities ever created.   It’s $11 billion, making the Hughes Institute the second-largest philanthropy in the country, behind Bill Gates’ foundation.  The goal of the institute is basic bio medical research including trying to understand, “genesis of life itself. In the late 1950’s, Hughes became a recluse.  He died in April 1976, at the age of 70 in an airplane crash on the way to The Methodist Hospital in Houston. His hair, beard, fingernails, and toenails had grown grossly long, and he weighed 90 pounds despite being 6’4″. The FBI had to resort to fingerprints to identify the body. Thats how he got his success and became on of the best entrepreneur