|Date of Birth:
|November 19, 1938 (85 years old)
|Entrepreneur, Businessperson, Screenwriter, Film Producer, Television producer, Media proprietor
|United States of America
What is Ted Turner’s net worth? How does Ted Turner make his money? Below is the current net worth of Ted Turner and how Ted Turner makes his money.
What is Ted Turner’s Net Worth?
Ted Turner is an American media mogul and entrepreneur who has a net worth of $2.2 billion. Ted Turner made his money by creating CNN, TNT, and TBS as well as by formerly owning the Atlanta Braves. By founding CNN, WTBS, MGM, TNT, and Cartoon Network, Ted Turner put his mark on the media world.
Ted controls Ted’s Montana Grill brand in addition to his media empire, and he ranks as the second-largest landowner in the country.
Ted Turner was born on 19 November 1938 in Cincinnati, Ohio. Turner went to The McCallie School, a private all-boys school in Chattanooga, Tennessee. He later enrolled at Brown University, where he served as vice president of the Brown Debating Union and captain of the sailing team.
He was rusticated from Brown University after being found in a dormitory with a girl, which prevented him from obtaining his degree.
Turner Advertising Company
After being dismissed from school, Turner in Macon, Georgia, took over his father’s successful Billboard company. He assumed the position of president and CEO of Turner Advertising Company when his father committed suicide in March 1963.
Turner Broadcasting Systems
After selling the radio stations, he acquired WTCG, a UHF television station. Later, he purchased channel 36 of UHF station WRET. Turner acquired the Atlanta Braves in 1976, followed by the Atlanta Hawks in 1977, primarily to supply WTCG with programming. He made the Braves well-known before their success in the ’90s and the early 2000s by using the WTBS superstation’s prominence to broadcast games into almost every home across the country.
Regarding intentions to launch a 24-hour news channel, Turner contacted media executive Reese Schonfeld in 1978. The following year, Ted Turner set up shop in Atlanta and sold WRET to pay for the acquisition. The Cable News Network today known as CNN appointed Schonfeld as president and CEO. In 1982, Ted Turner was named CNN’s CEO.
Turner Entertainment was founded in 1986 by Ted Turner to manage the company’s film and television holdings. Turner bought the 2,200 MGM movies released before 1986 and had them broadcast on his national TV stations. Turner broadcast colorized copies of older films that were originally shot in black and white, which infuriated cinephiles across the country.
AOL Time Warner
Turner acquired Jim Crockett Promotions in 1988, Turner renamed it World Championship Wrestling and it was the primary opponent to Vince McMahon’s World Wrestling Federation (WWF.)
The film “Gone with the Wind” served as his introduction to Turner Network Television (TNT). TNT began by airing older films and TV episodes, and then added original content and more recent reruns. He would later founded Turner Classic Movies in 1994, which showed movies from his pre-1986 MGM library with pre-1950 Warner Bros. films.
He founded the Turner Foundation in 1990 and developed the Captain Planet environmental superhero concept. In 1993, he and a Russian journalist named Eduard Sagalejev co-founded The Moscow Independent Broadcasting Corporation.
Ted Turner became Time Warner’s vice chairman and leader of the cable networks segment in October 1996 after Turner Broadcasting System and Time Warner merged. Gerald Levin, CEO of Time Warner, fired Turner as head of cable networks, but he remained vice chairman.
He left the board of directors and his position as chairman in 2003 and 2006, respectively.
AOL acquired Time Warner in 2001, resulting in the creation of AOL Time Warner. In October 2003, the company eliminated “AOL” from its name due to poor financial results and stock performance. In December 2009, Time Warner fully separated AOL from its parent company.
Rupert Murdoch‘s 21st Century Fox made an offer to buy the business in June 2014 for $80 billion. The offer was turned down by Time Warner, and in August 2014, it was officially retracted.
Personal Life/Real Estate
Turner has had three failed marriages. He has a total number of five children.
He is one of North America’s greatest individual landowners by acreage thanks to Turner Enterprises, which he uses to acquire 15 ranches in the United States totaling 1,910,585 acres. In Vermejo Park, New Mexico, he has the biggest ranch, which is also the biggest privately held piece of property in the country.
Turner, an ardent sailor, competed in a number of sailing events at the Savannah Yacht Club when he was 26 years old.
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