186. Ira Ren­nert

Forbes - - PROMOTION -

In 2015, a jury found Ren­nert li­able for loot­ing his Mag­ne­sium Corp. of Amer­ica, from which the plain­tiff claimed he took div­i­dends to build his $249 mil­lion (ap­praised value) man­sion in the Hamp­tons. An ap­peals court judge ruled in March that Ren­nert owed $213 mil­lion to the trustee of the mag­ne­sium com­pany’s es­tate. He pe­ti­tioned the U.S. Supreme Court in Au­gust, though as of press time the case has not been ac­cepted by the court. Ren­nert, a former credit an­a­lyst, made a for­tune is­su­ing junk bonds se­cured by metal com­pa­nies he ac­quired and has built an in­dus­trial em­pire that claims to haul in more than $5 billion in rev­enue a year.

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