Ronald Perelman

Ronald Perelman is a renowned American businessman and investor, known for his significant holdings in various industries, including Revlon, MacAndrews & Forbes, and Harland Clarke. Born on January 1, 1943, in Greensboro, North Carolina, Perelman has built a business empire through strategic investments and acquisitions, often working with prominent financial institutions like Goldman Sachs and Morgan Stanley. His business career has been marked by notable deals, including the acquisition of Revlon in 1985, which was financed by Drexel Burnham Lambert and advised by Michael Milken. Perelman's investments have also been influenced by his relationships with other prominent business leaders, such as Carl Icahn and Nelson Peltz.

● Early Life and Education

Perelman was born to a Jewish family in Greensboro, North Carolina, and grew up in Philadelphia, Pennsylvania, where he developed an interest in business and finance at a young age. He attended The Wharton School at the University of Pennsylvania, where he earned a bachelor's degree in 1964, and later received an MBA from Wharton School in 1966. During his time at University of Pennsylvania, Perelman was influenced by the teachings of prominent economists, including Milton Friedman and George Stigler, and was also exposed to the ideas of Warren Buffett and Benjamin Graham. Perelman's early life and education were shaped by his relationships with his family, including his father, Raymond Perelman, a successful businessman and Philadelphia philanthropist, and his mother, Ruth Perelman, a Bryn Mawr College graduate.

● Business Career

Perelman's business career began in the 1960s, when he worked for his father's company, Perelman Enterprises, which was involved in various industries, including textiles and manufacturing. In the 1970s, Perelman began to build his own business empire, making strategic investments in companies like Cohen-Hatfield Industries and Consolidated Cigar Corporation. His acquisition of Revlon in 1985 marked a significant turning point in his career, and he has since become known for his holdings in various industries, including cosmetics, pharmaceuticals, and financial services. Perelman has worked with prominent investment banks, including Lazard Frères and Lehman Brothers, and has been advised by notable lawyers, such as Skadden, Arps, Slate, Meagher & Flom and Kirkland & Ellis. His business dealings have also involved partnerships with other influential investors, including Kohlberg Kravis Roberts and The Blackstone Group.

● Philanthropy

Perelman is also known for his philanthropic efforts, particularly in the areas of education and healthcare. He has made significant donations to various institutions, including New York University, Columbia University, and Weill Cornell Medical College. Perelman has also supported various charitable organizations, such as the American Red Cross and the United Jewish Appeal, and has been recognized for his philanthropic work by organizations like the Jefferson Awards and the National Association of Social Workers. His philanthropic efforts have been influenced by his relationships with other prominent philanthropists, including Bill Gates and Warren Buffett, and have been advised by organizations like the Bill and Melinda Gates Foundation and the Ford Foundation.

● Personal Life

Perelman has been married four times, including to Faith Golding, Claudia Cohen, and Ellen Barkin. He has four children, including Steven Perelman and Joshua Perelman, and is known for his high-profile social life, which has included relationships with celebrities like Elaine Irwin Mellencamp and Anna Nicole Smith. Perelman's personal life has been marked by notable events, including his divorce from Ellen Barkin in 2006, which was reported by The New York Times and People Magazine. His personal relationships have also been influenced by his friendships with other prominent business leaders, including Donald Trump and Rupert Murdoch.

● Controversies

Perelman has been involved in several high-profile controversies throughout his career, including a highly publicized lawsuit against Morgan Stanley in 2005, which was reported by The Wall Street Journal and Bloomberg. He has also faced criticism for his business practices, including his use of leveraged buyouts and hostile takeovers, which have been opposed by organizations like the AFL-CIO and the Service Employees International Union. Perelman's controversies have been influenced by his relationships with other prominent business leaders, including Carl Icahn and Nelson Peltz, and have been advised by organizations like the Securities and Exchange Commission and the Federal Trade Commission. His controversies have also been reported by various media outlets, including CNBC and Forbes, and have been the subject of several books, including "The Predator's Ball" by Connie Bruck.