SELLER: Ron BurkleLOCATION: New York City, N.Y.PRICE: $37 millionSIZE: 8,074 square feet, 5 bedrooms, 6.5 bathroomsYOUR MAMA’S NOTES: Ron Burkle hoisted his titanic triplex penthouse pied-a-terre in lower Manhattan on the open market this week, as was first reported by the eagle-eyed kids at Curbed, with a king-sized asking price of $37 million.Property records show the penthouse was purchased by the multibillionaire supermarket tycoon, venture capitalist and quickly up-and-coming movie producer (“August, Osage County,” “The Family”) in 2005 for $17.5...
Ron Burkle’s story reads like a classic retelling of the American dream. He got his start in business at the age of 13, stocking shelves at the Pomona, Calif. Stater Bros. grocery store where his father worked as manager before dropping out of college to launch his career investing in regional grocery chains and then flipping them for cash.
In 1986, Burkle founded The Yupaica Companies, LLC, a private equity and venture capital firm with an investment portfolio that is heavy on the supermarket and grocery-chain industry but also includes industrial, retail and distribution clients. At its core, Yupaica is a growth capital and consolidation firm, purchasing and investing in middle market companies and overseeing mergers and leveraged buyouts.
Around the year 2000, Burkle began investing in Hollywood projects as well. He served as a major backer to a string of films from the Weinstein Brothers, as well as picking up concert-booking agency Artist Group International. In 2012, he doubled down once again on Hollywood, pouring an estimated $800 million into Ryan Kavanaugh’s Relativity Media Group.
Today, Burkle’s net worth is estimated to be close to $1.5 billion, and in 2017 Forbes listed him at number 1,198 on their world billionaires list.