Ron Perelman

Ron Perelman
Name	Ronald S. Perelman
Birth date	February 1, 1943
Birth place	Greensboro, North Carolina, United States
Alma mater	University of Pennsylvania (B.S.), New York University School of Law (J.D.)
Occupation	Businessman, investor, philanthropist
Known for	Chairman and CEO of MacAndrews & Forbes Incorporated
Spouse	Claudia Cohen (m. 1985; div. 1994), Patricia Duff (m. 1995; div. 1999), Denise "Dede" Henretta (m. 2000)

Ron Perelman is an American businessman, investor, and philanthropist known for leading the holding company MacAndrews & Forbes Incorporated and for a string of high-profile leveraged buyouts and media investments. Over several decades he acquired and restructured companies across sectors including cosmetics, entertainment, and confectionery, becoming a prominent figure in Wall Street finance and corporate restructuring. Perelman’s career has intersected with major institutions, philanthropies, and legal disputes, shaping debates about corporate governance and private equity.

Early life and education

Perelman was born in Greensboro, North Carolina, into a family connected to the textile and retail industries and moved to New York City during his youth. He attended The Fieldston School and studied at the University of Pennsylvania, where he earned a B.S. from the Wharton School; he later received a J.D. from New York University School of Law. His early exposure to retail and finance included ties to the family firm Revlon, Inc. through his father’s business interests and interactions with figures from Sears, Roebuck and Co. and other consumer brands.

Business career

Perelman founded MacAndrews & Forbes Incorporated, building it into a diversified holding company with investments spanning media, consumer goods, and financial services. He became known for leveraged buyouts in the 1980s and 1990s, engaging with firms such as Forbes Group, Revlon, Marvel Entertainment, and Panavision. His dealmaking brought him into contact with financiers and institutions including Salomon Brothers, Lehman Brothers, Bear Stearns, Goldman Sachs Group, Inc., and private equity peers like Carl Icahn, Henry Kravis, and George Soros. Perelman’s strategies involved complex capital structures and corporate governance battles with boards, shareholders, and regulators such as the Securities and Exchange Commission.

Major acquisitions and investments

Perelman’s notable transactions include the acquisition of Revlon in a protracted takeover battle, the purchase and later sale of Marvel Entertainment assets, and the control of Panavision and other media-related companies. He acquired Forbes magazine assets and maintained ties to brands in the beauty and consumer products space like Elizabeth Arden. His portfolio at various times included holdings in Concord Bakery, Schottenstein Stores, and technology and media ventures that put him in the orbit of companies such as Time Warner, ViacomCBS, and The Walt Disney Company. Perelman’s activities also touched on currency markets and international finance involving institutions like the Federal Reserve and counterparties in London and Hong Kong.

Philanthropy and civic involvement

Perelman has been an active philanthropist, supporting cultural, educational, and medical institutions. Major gifts have gone to organizations including Yale University, The Metropolitan Museum of Art, New York University, The Juilliard School, and medical centers such as Mount Sinai Health System and Memorial Sloan Kettering Cancer Center. He has served on boards and advisory councils linking him with entities like Columbia University, Princeton University, and arts organizations including the Lincoln Center for the Performing Arts and Museum of Modern Art. Perelman’s giving has also intersected with political fundraising involving figures and institutions such as The Republican National Committee and campaigns associated with notable politicians.

Personal life

Perelman’s personal life has included marriages to social figures and media personalities, and residences in prominent locales such as Manhattan, Palm Beach, Florida, and The Hamptons. He has been linked socially and philanthropically to celebrities, financiers, and political figures including members of the Kennedy family, Donald Trump associates, and cultural patrons in New York City and Los Angeles. His family connections extend to business dynasties and legal practitioners active in corporate law and private equity.

Controversies and legal issues

Perelman’s career has involved litigation, regulatory scrutiny, and disputes with creditors, partners, and former executives. High-profile courtroom encounters included battles over control of Revlon, shareholder lawsuits invoking principles established in Revlon, Inc. case law, and disputes related to leveraged buyouts that drew attention from the Securities and Exchange Commission and bankruptcy courts. He has faced litigation concerning fiduciary duties, loan agreements with banks such as JPMorgan Chase, and arbitration over art and estate matters involving collectors and auction houses like Sotheby's and Christie's. Some transactions precipitated broader debate about takeover tactics associated with 1980s-era financiers and later private equity practices championed by firms like KKR and The Blackstone Group.

Honors and recognition

Perelman has received awards and honorary degrees from universities and cultural institutions recognizing philanthropy and business leadership, with honors tied to Yale School of Medicine, arts organizations including the Metropolitan Opera, and civic groups in New York City and Palm Beach. He has been profiled in publications such as The New York Times, Forbes (magazine), The Wall Street Journal, and Bloomberg News, and his transactions have been cited in business case studies at institutions like Harvard Business School and INSEAD.

Category:American businesspeople Category:Philanthropists from New York