Ronald Wayne Burkle (born November 12, 1952) is an American businessman. He is the co-founder and managing partner of
The Yucaipa Companies, LLC, a
private investment firm that specializes in U.S. companies in the distribution, logistics, food, retail, consumer, hospitality, entertainment, sports, and light industrial sectors.
[
Yucaipa has executed grocery-chain mergers and acquisitions involving supermarket chains including Fred Meyer, ]Ralphs
Ralphs is an American supermarket chain in Southern California. The largest subsidiary of Cincinnati-based Kroger, it is the oldest such chain west of the Mississippi River. Kroger also operates stores under the Food 4 Less and Foods Co. nam ...
, and Jurgensen's, and once owned stakes in about 35 companies, including the grocery chains A&P and Whole Foods Market
Whole Foods Market IP, Inc., a subsidiary of Amazon, is an upscale American multinational supermarket chain headquartered in Austin, Texas, which sells products free from hydrogenated fats and artificial colors, flavors, and preservatives. A US ...
, before their respective demise and takeover.
Burkle's net worth was estimated at US$
The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official ...
2 billion in February 12, 2018. He had been ranked No. 633 on Forbes' list of "The Richest People on The Planet 2014."[
Burkle is a prominent Democratic activist and fundraiser.]
Early life and education
Ron Burkle was born on November 12, 1952, the elder of two sons, to Betty and Joseph Burkle in Pomona, California
Pomona is a city in Los Angeles County, California. Pomona is located in the Pomona Valley, between the Inland Empire and the San Gabriel Valley. At the 2020 census, the city's population was 151,713. The main campus of California State Polyte ...
. Joseph worked seven days a week, managing a Stater Bros. grocery store in Pomona and investing his savings in apartment buildings. To see his father, Burkle stocked shelves in his father's store with bread and corralled shopping carts.
By age 13, Burkle had joined United Food and Commercial Workers Union Local 770.[ At age 16, he graduated from high school and entered ]California State Polytechnic University, Pomona
California State Polytechnic University, Pomona (Cal Poly Pomona, CPP, or Cal Poly"Cal Poly" may also refer to California Polytechnic State University, San Luis Obispo in San Luis Obispo. See the '' name'' section of this article for more info ...
to study dentistry. Less than two years later, Burkle dropped out.[
At age 21, he married Janet Steeper, a Stater Bros. clerk and great-grandniece of the aviation pioneers, the Wright brothers.][ They had three children together. Burkle parlayed a $3,000 investment in American Silver and another metals company into $30,000 and began investing in and flipping undervalued grocery stores. He made at least one deal with the assistance of ]junk bond
In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit events, ...
financier Michael Milken
Michael Robert Milken (born July 4, 1946) is an American financier. He is known for his role in the development of the market for high-yield bonds ("junk bonds"), and his conviction and sentence following a guilty plea on felony charges for vio ...
.[
Burkle was promoted to store manager at Stater Bros. and later became a vice president at Petrolane, Inc., Stater's parent company. When he was 29, Petrolane decided to sell Stater Bros.][ Burkle secretly organized a leveraged buyout with ]Charles Munger
Charles Thomas Munger (born January 1, 1924) is an American billionaire investor, businessman, and former real estate attorney. He is vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett; Buffett has described Mung ...
, vice-chairman of Berkshire Hathaway
Berkshire Hathaway Inc. () is an American Multinational corporation, multinational conglomerate (company), conglomerate holding company headquartered in Omaha, Nebraska, United States. Its main business and source of capital is insurance, from ...
, who agreed to put up half of the equity.[ Burkle made his bid to Petrolane's board that was 20% lower than Petrolane's internal valuation. The board rejected Burkle's offer and fired him. Burkle's portfolio was by then worth some $5 million, and during the next five years, he continued to invest in stocks and oversaw his family's rental properties.][
]
Career
In 1986, Burkle founded Yucaipa Companies
The Yucaipa Companies, LLC is an American private equity firm founded in 1986 by Ronald Burkle. It specializes in private equity and venture capital, with a focus on middle-market companies, growth capital, industry consolidation, leveraged buy ...
, a private equity
In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a ty ...
firm which invests in U.S. companies in the hospitality, sports, entertainment, logistics, food, consumer, light industrial, retail, manufacturing, and distribution.
During the 1992 Los Angeles riots
The 1992 Los Angeles riots, sometimes called the 1992 Los Angeles uprising and the Los Angeles Race Riots, were a series of riots and civil disturbances that occurred in Los Angeles County, California, in April and May 1992. Unrest began in S ...
, Burkle refused to close his inner-city stores, a move for which he received praise.
He has served as chairman of the board and controlling shareholder of numerous companies, including Alliance Entertainment, Golden State Foods
Golden State Foods (GSF) is an Irvine, California-based wholly management-owned and -run business-to-business foodservice company that primarily serves McDonald's. Through a joint venture with Taylor Fresh Foods Inc., GSF is one of the biggest a ...
, Dominick's
Dominick's was a Chicago-area grocery store chain and subsidiary of Safeway Inc. Dominick's distribution center was located in Northlake, Illinois, while its management offices were located in Oak Brook, Illinois.
History
Founding
Dominick DiMa ...
, Fred Meyer, Ralphs
Ralphs is an American supermarket chain in Southern California. The largest subsidiary of Cincinnati-based Kroger, it is the oldest such chain west of the Mississippi River. Kroger also operates stores under the Food 4 Less and Foods Co. nam ...
, and Food4Less. He has been a corporate board member of the boards of Occidental Petroleum Corporation
Occidental Petroleum Corporation (often abbreviated Oxy in reference to its ticker symbol and logo) is an American company engaged in hydrocarbon exploration in the United States, and the Middle East as well as petrochemical manufacturing in the ...
, KB Home
KB Home is a homebuilding company based in the United States, founded in 1957 as Kaufman & Broad in Detroit, Michigan. It was the first company to be traded on the NYSE as a home builder and was a Fortune 500 company from 2000 through 2008. It ...
, and Yahoo!
Yahoo! (, styled yahoo''!'' in its logo) is an American web services provider. It is headquartered in Sunnyvale, California and operated by the namesake company Yahoo Inc., which is 90% owned by investment funds managed by Apollo Global Man ...
Burkle is often seen as a businessman who maintains close relationships with labor unions and works with unions to solve business problems.
NHL
Burkle is part owner of the Pittsburgh Penguins
The Pittsburgh Penguins (colloquially known as the Pens) are a professional ice hockey team based in Pittsburgh. They compete in the National Hockey League (NHL) as a member of the Metropolitan Division of the Eastern Conference, and have playe ...
of the National Hockey League
The National Hockey League (NHL; french: Ligue nationale de hockey—LNH, ) is a professional ice hockey league in North America comprising 32 teams—25 in the United States and 7 in Canada. It is considered to be the top ranked professional ...
, although his stake in the team is unknown. In 1999, he helped save the team by partnering with former Penguin Mario Lemieux
Mario Lemieux (; ; born October 5, 1965) is a Canadian former professional ice hockey player. He played parts of 17 seasons in the National Hockey League (NHL) for the Pittsburgh Penguins between 1984 and 2006, and he assumed ownership of the f ...
to bring the team out of bankruptcy.
Burkle played an active part in negotiations to construct the PPG Paints Arena
PPG Paints Arena is a multi-purpose indoor arena in Pittsburgh, that serves as the home of the Pittsburgh Penguins of the National Hockey League (NHL). It previously was the home of the Pittsburgh Power of the Arena Football League (AFL) from 2 ...
for the Penguins.
Burkle's strong ties to union work also led him to be one of the owners helping Commissioner Gary Bettman
Gary Bruce Bettman (born June 2, 1952) is an American sports executive who serves as the commissioner of the National Hockey League (NHL), a post he has held since February 1, 1993. Previously, Bettman was a senior vice president and general cou ...
negotiate an end to the 2012–13 NHL lockout
The 2012–13 NHL lockout was a labor dispute between the National Hockey League (NHL) and the National Hockey League Players' Association (NHLPA) that began at 11:59 pm EDT on September 15, 2012. A tentative deal on a new collective barga ...
.
The Penguins, under the ownership of Burkle, are the only North American sports team with ties to private equity that has won a championship.
MLS
On January 22, 2019, Burkle was announced as the new lead investor of soon-to-be Major League Soccer
Major League Soccer (MLS) is a men's professional soccer league sanctioned by the United States Soccer Federation, which represents the sport's highest level in the United States. The league comprises 29 teams—26 in the U.S. and 3 in Canada ...
franchise, the Sacramento Republic FC
Sacramento Republic FC is an American professional soccer team based in Sacramento, California, that plays in the Western Conference of the USL Championship, the second level in US soccer. Co-founded by Warren Smith and Joe Wagoner in 2012, the ...
.
On February 26, 2021, Burkle announced that he was pulling out his interests in Major League Soccer
Major League Soccer (MLS) is a men's professional soccer league sanctioned by the United States Soccer Federation, which represents the sport's highest level in the United States. The league comprises 29 teams—26 in the U.S. and 3 in Canada ...
expansion club in Sacramento due to the COVID-19 pandemic in California
Ten of the first twenty confirmed COVID-19 cases in the United States occurred in California, the first of which was confirmed on January 26, 2020. All of the early confirmed cases were persons who had recently travelled to China, as testing wa ...
. This move placed Sacramento expansion hopes in doubt.
NWSL
In January 2021, Lisa Baird Lisa or LISA may refer to:
People
People with the mononym
* Lisa Lisa (born 1967), American actress and lead singer of the Cult Jam
* Lisa (Japanese musician, born 1974), stylized "LISA", Japanese singer and producer
* Lisa Komine (born 1978), J ...
, the commissioner of the National Women's Soccer League
The National Women's Soccer League (NWSL) is a professional women's soccer league at the top of the United States league system. It is owned by the teams and, until 2020, was under a management contract with the United States Soccer Federatio ...
(NWSL), announced that an expansion team in Sacramento
)
, image_map = Sacramento County California Incorporated and Unincorporated areas Sacramento Highlighted.svg
, mapsize = 250x200px
, map_caption = Location within Sacramento ...
, led by Ron Burkle and in conjunction with Sacramento Republic FC's expansion bid into Major League Soccer, would join the NWSL in 2022. However, Burkle never confirmed the news publicly before exiting the Sacramento Republic's ownership group. Instead, on June 8, 2021, the NWSL announced San Diego as the location for an expansion team owned by Burkle, which began play as San Diego Wave FC
San Diego Wave FC is a National Women's Soccer League expansion team that began play in 2022. The team is based in San Diego, San Diego, California. The team is owned by Ron Burkle.
The team is the San Diego area's first women's professional soc ...
in the 2022 NWSL season
The 2022 National Women's Soccer League season was the tenth season of the National Women's Soccer League, the top division of women's soccer in the United States. Including the NWSL's two professional predecessors, Women's Professional Soccer ( ...
.
Technology investments
Burkle has invested in technology startup companies
A startup or start-up is a company or project undertaken by an entrepreneur to seek, develop, and validate a scalable business model. While entrepreneurship refers to all new businesses, including self-employment and businesses that never intend t ...
through A-Grade Investments
A-Grade Investments is a venture capital firm founded in 2010 by actor Ashton Kutcher, entertainment manager Guy Oseary, and billionaire investor Ron Burkle to invest in technology start-up companies. The company is headquartered in Los Angeles, C ...
, a venture capital
Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which ha ...
fund he founded with Ashton Kutcher
Christopher Ashton Kutcher (; born February 7, 1978) is an American actor, producer, entrepreneur, and former model. He is the recipient of various accolades, including a People's Choice Award, and nominations for two Young Artist Awards, a S ...
and Guy Oseary
Guy Harley Oseary ( he, גיא עוזרי; born October 3, 1972) is an Israeli-American talent manager and writer. His clients include Madonna, U2 and the Red Hot Chili Peppers.
Biography
Guy Oseary was born on October 3, 1972, in Jerusale ...
. As of 2020, A-Grade's investment portfolio includes SeatGeek
SeatGeek is a mobile-focused ticket platform that enables users to buy and sell tickets for live sports, concerts and theater events. SeatGeek allows both mobile app and desktop users to browse events, view interactive color-coded seatmaps, compl ...
, SoundCloud
SoundCloud is an online audio distribution platform and music sharing website that enables its users to upload, promote, and share audio. Founded in 2007 by Alexander Ljung and Eric Wahlforss, SoundCloud is one of the largest music streaming se ...
, Uber
Uber Technologies, Inc. (Uber), based in San Francisco, provides mobility as a service, ride-hailing (allowing users to book a car and driver to transport them in a way similar to a taxi), food delivery (Uber Eats and Postmates), package ...
, Warby Parker
Warby Parker is an American online retailer of prescription glasses, contact lenses, and sunglasses, based in New York City. Warby Parker was founded as primarily online retailer, but now sells primarily (about 90%) through approximately 160 p ...
, Spotify
Spotify (; ) is a proprietary Swedish audio streaming and media services provider founded on 23 April 2006 by Daniel Ek and Martin Lorentzon. It is one of the largest music streaming service providers, with over 456 million monthly active us ...
, Foursquare
Four square is a ball game.
Four square may also refer to:
Internet and entertainment
* Foursquare City Guide, a local search and discovery app
* ''4 Square'' (game show), a British game show
* ''4 Square'' (TV series), a Canadian children's s ...
, and Airbnb
Airbnb, Inc. ( ), based in San Francisco, California, operates an online marketplace focused on short-term homestays and experiences. The company acts as a broker and charges a commission from each booking. The company was founded in 2008 b ...
.
He has also invested in technology startup companies
A startup or start-up is a company or project undertaken by an entrepreneur to seek, develop, and validate a scalable business model. While entrepreneurship refers to all new businesses, including self-employment and businesses that never intend t ...
through Inevitable Venture, a venture capital
Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which ha ...
fund founded by D.A Wallach and Chris Hollod. Inevitable Ventures's investment include Picnic Health, 8i, Thrive Market, and Wiser Care.
Media investments
In January 2012, Burkle invested in Artist Group International, a concert-booking firm whose clients include Billy Joel, Metallica, and Rod Stewart. In March 2013, Burkle invested in a branded entertainment company, Three Lions Entertainment, which focuses on branded entertainment events and cross platform marketing. In 2014, he bought Artist Group International and, through the Paradigm Talent Agency, partnered with London's CODA Music Agency and X-ray Touring. That same year, Burkle acquired a minority stake in Independent Talent through Yucaipa fund.
In 2018, Burkle's investment firm Yucaipa acquired a minority stake in the Spanish music festival Primavera Sound
Primavera Sound (commonly referred to as simply Primavera) is an annual music festival held in Parc del Fòrum in Barcelona, Spain that takes place between the end of May and beginning of June. The first edition took place in 2001 in Poble Espany ...
.
In 2020, Burkle made a major investment in the musical festival production Danny Wimmer Presents
Danny Wimmer Presents (DWP) is a music festival production and promotion company headquartered in Los Angeles, California. Focusing primarily on the rock music scene, DWP is one of the smallest high-capacity national promoting companies in the U ...
.
Other investments
Wild Oats Markets was an operator of natural foods stores and farmers' markets in North America. Burkle started buying Wild Oats stock in February 2005. By the time Whole Foods Market
Whole Foods Market IP, Inc., a subsidiary of Amazon, is an upscale American multinational supermarket chain headquartered in Austin, Texas, which sells products free from hydrogenated fats and artificial colors, flavors, and preservatives. A US ...
, a natural-foods grocer, agreed to pay $565 million for Wild Oats, Burkle was the largest shareholder of Wild Oats.
Burkle sold his majority stake in supplier Golden State Foods
Golden State Foods (GSF) is an Irvine, California-based wholly management-owned and -run business-to-business foodservice company that primarily serves McDonald's. Through a joint venture with Taylor Fresh Foods Inc., GSF is one of the biggest a ...
to St. Louis-based Wetterau Associates for about $110 million. Golden State, one of McDonald's
McDonald's Corporation is an American Multinational corporation, multinational fast food chain store, chain, founded in 1940 as a restaurant operated by Richard and Maurice McDonald, in San Bernardino, California, United States. They rechri ...
biggest suppliers, operates 11 distribution centers in the United States and abroad and two U.S. processing plants.
In 2014, Burkle acquired Soho House
Soho House is a museum run by Birmingham Museums Trust, celebrating Matthew Boulton's life, his partnership with James Watt, his membership of the Lunar Society of Birmingham and his contribution to the Midlands Enlightenment and the Ind ...
, a chain of hotels and private members’ clubs.
In 2019, Burkle sold a 50% stake in the Sydell Group to MGM Resorts International. He maintains ownership stakes in a number of other hotel properties.
Burkle's investments and transactions include:
* Sold Dominick's
Dominick's was a Chicago-area grocery store chain and subsidiary of Safeway Inc. Dominick's distribution center was located in Northlake, Illinois, while its management offices were located in Oak Brook, Illinois.
History
Founding
Dominick DiMa ...
chain to Safeway
Safeway is an American supermarket chain founded by Marion Barton Skaggs in April 1915 in American Falls, Idaho. The chain provides grocery items, food and general merchandise and features a variety of specialty departments, such as bakery, d ...
in 1998 for over $200 million in profits;
* Owns 26% stake in Americold Realty Trust;
* Leveraged buyouts of Jurgensen's, Fred Meyer, Food 4 Less
Food 4 Less is the name of several grocery store chains, the largest of which is currently owned by Kroger. It is a no-frills grocery store where the customers bag their own groceries at the checkout. Kroger operates Food 4 Less stores in the ...
, and Ralphs
Ralphs is an American supermarket chain in Southern California. The largest subsidiary of Cincinnati-based Kroger, it is the oldest such chain west of the Mississippi River. Kroger also operates stores under the Food 4 Less and Foods Co. nam ...
supermarket chains, and sold to Kroger
The Kroger Company, or simply Kroger, is an American retail company that operates (either directly or through its subsidiaries) supermarkets and multi-department stores throughout the United States.
Founded by Bernard Kroger in 1883 in Cincin ...
for $13.5 billion;
* Signed Fleming Companies, Inc
Fleming Companies was founded as Lux Mercantile in Topeka, Kansas, in 1915 by O. A. Fleming, Gene Wilson and Samuel Lux. In 1921 the company's name was changed to Fleming-Wilson, and in 1941, the company name was changed to The Fleming Company, ...
. as sole food supplier to Kmart
Kmart Corporation ( , doing business as Kmart and stylized as kmart) is an American retail company that owns a chain of big box department stores. The company is headquartered in Hoffman Estates, Illinois, United States.
The company was inc ...
;
* Majority stake in Pathmark
Pathmark is a supermarket brand owned by Allegiance Retail Services, a retailers’ cooperative based in Iselin, New Jersey, USA. Pathmark currently has one location in East Flatbush, Brooklyn, New York, which it has operated since 2019.
From ...
grocery stores;
* Cyrk, the former Beanie Baby
Beanie Babies are a line of stuffed toys created by American businessman H. Ty Warner, who founded Ty Inc. in 1986. The toys are stuffed with plastic pellets ("beans") rather than conventional soft stuffing. They come in many different forms, m ...
promotion agency;
* Merged Alliance Entertainment with Source Interlink;
* 49% of British jewelry brand Stephen Webster
Stephen Webster MBE (born 1959) is a British jewellery designer best known as founder of his eponymous jewellery brand.
Biography
Born in Gravesend, Kent, Stephen Webster was educated at Gravesend Grammar School and later at the Medway College ...
purchased in 2007;
* Invested $100 million in Sean Combs
Sean Combs (born Sean John Combs; November 4, 1969), also known by his stage names Puff Daddy, P. Diddy, Puffy, or Diddy, is an American rapper, actor, record producer, and record executive. Born in New York City, he worked as a talent directo ...
's (P. Diddy
Sean Combs (born Sean John Combs; November 4, 1969), also known by his stage names Puff Daddy, P. Diddy, Puffy, or Diddy, is an American rapper, actor, record producer, and record executive. Born in New York City, he worked as a talent directo ...
) Sean John
Sean John is a privately held fashion lifestyle company created by music mogul Sean Combs. The line made its fashion debut with a men's sportswear collection for the spring 1998 season.
Individuals of note who have represented the brand in advert ...
clothing line in 2003;
* Purchased Enthusiast Media publications and assets of Primedia
Primedia is a South African media group, headquartered in Sandton, Johannesburg.
History
Primedia was established in 1994 and its listing on the JSE Securities Exchange was completed in April 1995. Primedia remained listed on the JSE until 1 O ...
for $1.2 billion;
* Burkle's investment firm, Yucaipa Cos., owns 18.7% of the common stock of Barnes & Noble
Barnes & Noble Booksellers is an American bookseller. It is a Fortune 1000 company and the bookseller with the largest number of retail outlets in the United States. As of July 7, 2020, the company operates 614 retail stores across all 50 U. ...
. In early 2010 he sought to raise his stake to 37% without triggering the shareholders' rights plan. B&N Chairman Len Riggio, with 27.8% ownership of the bookseller's common stock, is Barnes & Noble
Barnes & Noble Booksellers is an American bookseller. It is a Fortune 1000 company and the bookseller with the largest number of retail outlets in the United States. As of July 7, 2020, the company operates 614 retail stores across all 50 U. ...
's largest shareholder.
* Burkle offered to purchase the financially troubled Sacramento Kings
The Sacramento Kings are an American professional basketball team based in Sacramento, California. The Kings compete in the National Basketball Association (NBA) as a member of the Western Conference Pacific Division. The Kings are the oldest ...
franchise and prevent the team from relocating to Anaheim; however, a conflict of interest as a part-owner of Relativity Sports forced him to drop out.
* Debt holdings of Relativity Media
Relativity Media is an American media company founded in 2004 by Lynwood Spinks and Ryan Kavanaugh. The company brokered film finance deals and later branched into film production and other entertainment ventures. The company was commerciall ...
, an independent studio company. As part of the deal, Burkle joined the board of directors of the company.
* Burkle provided Amalgamated Bank
Amalgamated Bank () is an American financial institution. It is the largest union-owned bank and one of the only unionized banks in the United States. Amalgamated Bank is currently majority-owned by Workers United, an SEIU Affiliate.
Founded on ...
with a $100 million loan in 2011, taking a combined 41% stake in Amalgamated along with Wilbur Ross.
Political activities
Burkle has personally contributed millions of dollars to the Democratic Party Democratic Party most often refers to:
*Democratic Party (United States)
Democratic Party and similar terms may also refer to:
Active parties Africa
*Botswana Democratic Party
*Democratic Party of Equatorial Guinea
*Gabonese Democratic Party
*Demo ...
and raised an estimated $100 million at celebrity-studded fundraising events he hosted for Democratic Party candidates at his Green Acres Estate in Beverly Hills, California
Beverly Hills is a city located in Los Angeles County, California. A notable and historic suburb of Greater Los Angeles, it is in a wealthy area immediately southwest of the Hollywood Hills, approximately northwest of downtown Los Angeles. B ...
. Burkle has hosted fundraisers for Bill
Bill(s) may refer to:
Common meanings
* Banknote, paper cash (especially in the United States)
* Bill (law), a proposed law put before a legislature
* Invoice, commercial document issued by a seller to a buyer
* Bill, a bird or animal's beak
Plac ...
and Hillary Clinton
Hillary Diane Rodham Clinton ( Rodham; born October 26, 1947) is an American politician, diplomat, and former lawyer who served as the 67th United States Secretary of State for President Barack Obama from 2009 to 2013, as a United States sen ...
,[ ]John Kerry
John Forbes Kerry (born December 11, 1943) is an American attorney, politician and diplomat who currently serves as the first United States special presidential envoy for climate. A member of the Forbes family and the Democratic Party (Unite ...
,[ ]Cory Booker
Cory Anthony Booker (born April 27, 1969) is an American politician and attorney who has served as the junior United States senator from New Jersey since 2013. A member of the Democratic Party, Booker is the first African-American U.S. sena ...
,[ and ]Terry McAuliffe
Terence Richard McAuliffe (born February 9, 1957) is an American businessman and politician who served as the 72nd governor of Virginia from 2014 to 2018. A member of the Democratic Party, he was co-chairman of President Bill Clinton's 1996 ...
, as well as former Republican
Republican can refer to:
Political ideology
* An advocate of a republic, a type of government that is not a monarchy or dictatorship, and is usually associated with the rule of law.
** Republicanism, the ideology in support of republics or agains ...
California Governor
The governor of California is the head of government of the U.S. state of California. The governor is the commander-in-chief of the California National Guard and the California State Guard.
Established in the Constitution of California, the g ...
Arnold Schwarzenegger
Arnold Alois Schwarzenegger (born July 30, 1947) is an Austrian and American actor, film producer, businessman, retired professional bodybuilder and politician who served as the 38th governor of California between 2003 and 2011. ''Time'' ...
,[ among others.
In January 2011, he hosted a fundraiser to support efforts to overturn ]Proposition 8
Proposition 8, known informally as Prop 8, was a California ballot proposition and a state constitutional amendment intended to ban same-sex marriage; it passed in the November 2008 California state elections and was later overturned in cou ...
, California's ban on same-sex marriage
Same-sex marriage, also known as gay marriage, is the marriage of two people of the same Legal sex and gender, sex or gender. marriage between same-sex couples is legally performed and recognized in 33 countries, with the most recent being ...
.
In 2004, Burkle helped finance the launch of Al Gore's Current TV
Current TV was an American television channel which broadcast from August 1, 2005, to August 20, 2013. Prior INdTV founders Al Gore and Joel Hyatt, with Ronald Burkle, each held a sizable stake in Current TV. Comcast and DirecTV each held a smalle ...
, which was sold in January 2013 to Qatar
Qatar (, ; ar, قطر, Qaṭar ; local vernacular pronunciation: ), officially the State of Qatar,) is a country in Western Asia. It occupies the Qatar Peninsula on the northeastern coast of the Arabian Peninsula in the Middle East; it sh ...
-based cable news
Cable news channels are television networks devoted to television news broadcasts, with the name deriving from the proliferation of such networks during the 1980s with the advent of cable television.
In the United States, the first nationwide ca ...
channel Al Jazeera
Al Jazeera ( ar, الجزيرة, translit-std=DIN, translit=al-jazīrah, , "The Island") is a state-owned Arabic-language international radio and TV broadcaster of Qatar. It is based in Doha and operated by the media conglomerate Al Jazeera ...
.
During Bill Clinton's presidency, Burkle was a key fundraiser and they became close friends.[ In 2002, Burkle hired Clinton as a senior advisor on two Yucaipa domestic investment funds.] Clinton invested in a Yucaipa global fund focused on foreign companies.[ In an interview with '']The Wall Street Journal
''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...
'', then-U.S. Senator Hillary Clinton
Hillary Diane Rodham Clinton ( Rodham; born October 26, 1947) is an American politician, diplomat, and former lawyer who served as the 67th United States Secretary of State for President Barack Obama from 2009 to 2013, as a United States sen ...
(D-NY) expressed concern that such investments could be used by foreign governments as "instruments of foreign policy."[
In 2009, ]Bill Clinton
William Jefferson Clinton ( né Blythe III; born August 19, 1946) is an American politician who served as the 42nd president of the United States from 1993 to 2001. He previously served as governor of Arkansas from 1979 to 1981 and agai ...
ended his relationship with Yucaipa due to potential conflicts of interest
A conflict of interest (COI) is a situation in which a person or organization is involved in multiple interests, financial or otherwise, and serving one interest could involve working against another. Typically, this relates to situations i ...
.[ Following "months" of negotiations, the two were not able to agree on a final payment for Clinton's advisory services, estimated at up to $20 million, and Clinton "walked away" from the potential payout.
]
Awards and recognition
Burkle's honors and awards include the Los Angeles County, California
Los Angeles County, officially the County of Los Angeles, and sometimes abbreviated as L.A. County, is the List of the most populous counties in the United States, most populous county in the United States and in the U.S. state of California, ...
Boy Scouts
Boy Scouts may refer to:
* Boy Scout, a participant in the Boy Scout Movement.
* Scouting, also known as the Boy Scout Movement.
* An organisation in the Scouting Movement, although many of these organizations also have female members. There are ...
Jimmy Stewart
James Maitland Stewart (May 20, 1908 – July 2, 1997) was an American actor and military pilot. Known for his distinctive drawl and everyman screen persona, Stewart's film career spanned 80 films from 1935 to 1991. With the strong morality h ...
"Good Turn" Award, the AIDS Project Los Angeles
APLA Health is a non-profit organization that is focused on building health equity and promoting wellbeing for the LGBT and people living with HIV."
APLA Health is one of the largest non-profit HIV service organizations in the United States. Its ...
Commitment to Life Award, and the Los Angeles Urban League
The National Urban League, formerly known as the National League on Urban Conditions Among Negroes, is a nonpartisan historic civil rights organization based in New York City that advocates on behalf of economic and social justice for African Am ...
Whitney M. Young Award. He has received numerous honors and awards from labor including the AFL-CIO Murray Green Meany Kirkland Community Service Award and the Los Angeles County Federation of Labor The Los Angeles County Federation of Labor was started in 1885. Originally, the Los Angeles County Federation of Labor was split into five individual unions of bakers, cigar makers, printers, tailors, and carpenters. Now they represent over 300 unio ...
Man of the Year.
Philanthropy
In 1997, Burkle donated $15 million for the construction of Walt Disney Concert Hall
The Walt Disney Concert Hall at 111 South Grand Avenue in downtown Los Angeles, California, is the fourth hall of the Los Angeles Music Center and was designed by Frank Gehry. It was opened on October 24, 2003. Bounded by Hope Street, Grand Ave ...
.
Ronald W. Burkle Foundation
Burkle is founder and chairman of The Ronald W. Burkle Foundation.[ The foundation's stated mission is to "positively influence people around the world and their communities" by supporting programs that "strengthen international understanding, foster worker's rights, empower underserved communities, nurture the arts and architecture, engage children in learning and advance scientific research."
]
Board memberships
Burkle serves as co-chairman of The Ronald W. Burkle Center for International Relations at UCLA
The University of California, Los Angeles (UCLA) is a public land-grant research university in Los Angeles, California. UCLA's academic roots were established in 1881 as a teachers college then known as the southern branch of the California St ...
, to promote "research on and promotes discussion of international relations, U.S. foreign policy, and complex issues of global cooperation and conflict." The Center has hosted UN Secretary-General Ban Ki-moon
Ban Ki-moon (; ; born 13 June 1944) is a South Korean politician and diplomat who served as the eighth secretary-general of the United Nations between 2007 and 2016. Prior to his appointment as secretary-general, Ban was his country's Minister ...
, and former U.S. presidents Bill Clinton
William Jefferson Clinton ( né Blythe III; born August 19, 1946) is an American politician who served as the 42nd president of the United States from 1993 to 2001. He previously served as governor of Arkansas from 1979 to 1981 and agai ...
and Jimmy Carter
James Earl Carter Jr. (born October 1, 1924) is an American politician who served as the 39th president of the United States from 1977 to 1981. A member of the Democratic Party (United States), Democratic Party, he previously served as th ...
.[
Burkle is a trustee of ]The Scripps Research Institute
Scripps Research, previously known as The Scripps Research Institute (TSRI), is a nonprofit American medical research facility that focuses on research and education in the biomedical sciences. Headquartered in San Diego, California, the institu ...
, The Carter Center, the National Urban League
The National Urban League, formerly known as the National League on Urban Conditions Among Negroes, is a nonpartisan historic civil rights organization based in New York City that advocates on behalf of economic and social justice for African Am ...
,[ ]Frank Lloyd Wright Building Conservancy The Frank Lloyd Wright Building Conservancy is an organization devoted to the historic preservation of buildings and their furnishings and decoration designed by Frank Lloyd Wright, as well as to the study of Wright's career. The organization has gr ...
and AIDS Project Los Angeles
APLA Health is a non-profit organization that is focused on building health equity and promoting wellbeing for the LGBT and people living with HIV."
APLA Health is one of the largest non-profit HIV service organizations in the United States. Its ...
. He is a past board member of the J. Paul Getty Trust
The J. Paul Getty Trust is the world's wealthiest art institution, with an estimated endowment of US$7.7 billion in 2020. Based in Los Angeles, California, it operates the J. Paul Getty Museum, which has two locations—the Getty Center in the ...
, the Los Angeles County Museum of Art
The Los Angeles County Museum of Art (LACMA) is an art museum located on Wilshire Boulevard in the Miracle Mile, Los Angeles, California, Miracle Mile vicinity of Los Angeles. LACMA is on Museum Row, adjacent to the La Brea Tar Pits (George C. Pa ...
, the Los Angeles Music Center
The Music Center (officially named the Performing Arts Center of Los Angeles County) is one of the largest performing arts centers in the United States. Located in downtown Los Angeles, The Music Center is composed of the Dorothy Chandler Pavilion ...
, John F. Kennedy Center for Performing Arts, and the Museum of Contemporary Art, Los Angeles
The Museum of Contemporary Art, Los Angeles (MOCA) is a contemporary art museum with two locations in greater Los Angeles, California. The main branch is located on Grand Avenue in Downtown Los Angeles, near the Walt Disney Concert Hall. MOCA's o ...
.[
]
Fundraising events
Burkle hosts fundraising events for the non-profit Share Our Strength
Share Our Strength is a national organization working to end childhood hunger and poverty in the United States. Share Our Strength holds culinary events, solicits individual donations, and uses social media to raise funds, which are then used to ...
and its No Kid Hungry campaign, which focuses on helping end childhood hunger in the United States.
Burkle also hosts events for The Rape Foundation at his Greenacres Estate.
Personal life
Burkle is a fan of historic architecture. In 2011, he purchased the partially restored Ennis House
The Ennis House is a residential dwelling in the Los Feliz neighborhood of Los Angeles, California, United States, south of Griffith Park. The home was designed by Frank Lloyd Wright for Charles and Mabel Ennis in 1923 and was built in 1924.
Fol ...
, a Los Angeles landmark designed by Frank Lloyd Wright
Frank Lloyd Wright (June 8, 1867 – April 9, 1959) was an American architect, designer, writer, and educator. He designed more than 1,000 structures over a creative period of 70 years. Wright played a key role in the architectural movements o ...
. In 2019, Burkle sold the house for $18 million. Burkle owns Greenacres, an estate built for Harold Lloyd
Harold Clayton Lloyd, Sr. (April 20, 1893 – March 8, 1971) was an American actor, comedian, and stunt performer who appeared in many silent comedy films.Obituary ''Variety'', March 10, 1971, page 55.
One of the most influential film co ...
. Burkle owns two of entertainer Bob Hope
Leslie Townes "Bob" Hope (May 29, 1903 – July 27, 2003) was a British-American comedian, vaudevillian, actor, singer and dancer. With a career that spanned nearly 80 years, Hope appeared in more than 70 short and feature films, with 5 ...
's properties, acquiring his John Lautner
John Edward Lautner (16 July 1911 – 24 October 1994) was an American architect. Following an apprenticeship in the mid-1930s with the Taliesin Fellowship led by Frank Lloyd Wright, Lautner opened his own practice in 1938, where he worked for th ...
-designed Palm Springs
Palm Springs (Cahuilla: ''Séc-he'') is a desert resort city in Riverside County, California, United States, within the Colorado Desert's Coachella Valley. The city covers approximately , making it the largest city in Riverside County by land ...
home for $13 million in 2016 and Toluca Lake, CA
Toluca Lake is an affluent neighborhood in the city of Los Angeles, California, located in the San Fernando Valley northwest of downtown. The name is also given to a private natural lake fed by wells and maintained by neighboring property ow ...
home, originally designed by Richard Finkelhor in the 1930s and expanded in the 1950s by John Elgin Woolf, for $15 million in 2017.
In December 2013, Burkle purchased an Olympic gold medal
Olympic or Olympics may refer to
Sports
Competitions
* Olympic Games, international multi-sport event held since 1896
** Summer Olympic Games
** Winter Olympic Games
* Ancient Olympic Games, ancient multi-sport event held in Olympia, Greece b ...
won by Jesse Owens
James Cleveland "Jesse" Owens (September 12, 1913March 31, 1980) was an American track and field athlete who won four gold medals at the 1936 Olympic Games.
Owens specialized in the sprints and the long jump and was recognized in his lifet ...
at the 1936 Berlin Games for $1.4 million and owns William Faulkner's Nobel Prize for Literature
)
, image = Nobel Prize.png
, caption =
, awarded_for = Outstanding contributions in literature
, presenter = Swedish Academy
, holder = Annie Ernaux (2022)
, location = Stockholm, Sweden
, year = 1901
, ...
.
Burkle owns the Mediterranean-styled mansion overlooking the bluffs of Black's Beach on a nearly six-acre plot in the La Jolla Farms neighborhood of San Diego, California. It was purchased on February 5, 1999, for $15.3 million and the current tax assessment is $34 million.
Burkle has worked with Novak Djokovic
Novak Djokovic ( sr-Cyrl, Новак Ђоковић, translit=Novak Đoković, ; born 22 May 1987) is a Serbian professional tennis player. He has been ranked world No. 1 for a record total 373 weeks, and has finished as the year-end No. 1 ...
, world No.1 tennis player at the time, on strategic marketing and charitable initiatives.
In December 2018, the Serbian Government opened a consulate in Montana and Burkle was named honorary consul of Serbia in the US. On account of that, he applied for Serbian citizenship, which Serbian Government accepted and he was formally naturalized on November 25, 2019, making him the third Serbian billionaire after Philip Zepter
Philip Zepter ( sr, Филип Цептер / Filip Cepter, born Milan Janković; 23 November 1950) is a Serbian businessman and entrepreneur. He is the president of the Zepter International Group.
Early years and education
Philip Zepter was bor ...
and Miroslav Mišković
Miroslav Mišković ( sr-cyr, Мирослав Мишковић; born 5 July 1945) is a Serbian oligarch, business magnate, investor and owner of Delta Holding.
Mišković's net worth was estimated to be $2 billion in 2007, according to the l ...
, according to Forbes' list.
On January 6, 2020, Burkle's son Andrew was found dead in his Beverly Hills Home.
In December 2020, Burkle, a former family friend of Michael Jackson
Michael Joseph Jackson (August 29, 1958 – June 25, 2009) was an American singer, songwriter, dancer, and philanthropist. Dubbed the "King of Pop", he is regarded as one of the most significant cultural figures of the 20th century. Over a ...
, purchased Jackson's former Neverland Ranch
Sycamore Valley Ranch, formerly Neverland Ranch["Neverland Never More"](_blank)
, by William Etling (author ...
property for $22 million as a "land banking opportunity."
Controversies
In April 2006, Burkle accused ''New York Post
The ''New York Post'' (''NY Post'') is a conservative daily tabloid newspaper published in New York City. The ''Post'' also operates NYPost.com, the celebrity gossip site PageSix.com, and the entertainment site Decider.com.
It was established ...
'' columnist Jared Paul Stern
Jared Paul Stern is an American writer who currently serves as the Executive Editor for Maxim Magazine, where his byline has appeared since 2015. He had previously served as editor, publisher, photographer, designer, reporter and columnist for th ...
of attempting to extort money from him in exchange for stopping the publication of stories in Page Six, the paper's gossip column, about his private life. He secretly videotaped two private meetings between himself and Stern, with the second meeting orchestrated and monitored by the FBI
The Federal Bureau of Investigation (FBI) is the domestic Intelligence agency, intelligence and Security agency, security service of the United States and its principal Federal law enforcement in the United States, federal law enforcement age ...
. Stern allegedly asked Burkle for a $220,000 investment in his clothing business in exchange for better coverage. Stern was subsequently fired by the ''Post''.
On April 30, 2008, a Delaware
Delaware ( ) is a state in the Mid-Atlantic region of the United States, bordering Maryland to its south and west; Pennsylvania to its north; and New Jersey and the Atlantic Ocean to its east. The state takes its name from the adjacent Del ...
judge dismissed Burkle's lawsuit against Raffaello Follieri, ex-boyfriend of actress Anne Hathaway
Anne Jacqueline Hathaway (born November 12, 1982) is an American actress. The recipient of List of awards and nominations received by Anne Hathaway, various accolades, including an Academy Award, a Golden Globe Award, and a Primetime Emmy Awar ...
, after Follieri agreed to repay $1.3 million Burkle loaned to him in the Vati-Con scandal
The Vati-Con Scandal involved accusations that Italian real estate developer Raffaello Follieri misappropriated a $50 million investment from Bill Clinton and billionaire Ronald Burkle meant to buy Roman Catholic churches in the United States. Foll ...
. In 2018, Follieri, who was deported back to Italy in 2012 after serving years in prison for the scandal, stated that he and Burkle were once again on good terms and that Burkle was among the group of investors helping him acquire 50 percent in the Foggia Calcio soccer club in Southern Italy. Burkle’s lawyer, Tom Harvey, denied this to Page Six on January 3, 2018, saying: “Ron is not involved with Follieri. He’s not involved with the Foggia team. Follieri is just making this stuff up. There is absolutely zero chance that Ron would invest with Follieri, directly or indirectly.”
Ronald Burkle name was found in Jeffrey Epstein
Jeffrey Edward Epstein ( ; January 20, 1953August 10, 2019) was an American sex offender and financier. Epstein, who was born and raised in Brooklyn, New York City, began his professional life by teaching at the Dalton School in Manhattan, des ...
’s black book and on Epstein’s private jet log.
Burkle took what were described as humanitarian trips to Africa with Bill Clinton
William Jefferson Clinton ( né Blythe III; born August 19, 1946) is an American politician who served as the 42nd president of the United States from 1993 to 2001. He previously served as governor of Arkansas from 1979 to 1981 and agai ...
on Epstein’s private Boeing 727, the Lolita Express. Following the Africa trip, Burkle reportedly returned home via a commercial jet, referring to Epstein as "creepy".
See also
* List of billionaires
''The World's Billionaires'' is an annual ranking by documented net worth of the wealthiest billionaires in the world, compiled and published in March annually by the American business magazine ''Forbes''. The list was first published in March ...
References
Further reading
*Bruck, Connie: "Cashier du Cinema – After supermarkets, private equity and politics, Ron Burkle makes a move on Hollywood". ''The New Yorker'', October 8, 2012 (pp. 76 to 87).
External links
Ron Burkle's federal campaign contributions
at newsmeat.com
2005
The Complete Ron Burkle
Jason Horowitz, ''The New York Observer'' April 12, 2007
''The Washington Times'', August 2, 2005
Ron Burkle, ''Wall Street Journal'', April 19, 2006, about the Payola Six Scandal
''New York Times'', April 12, 2006
Ex-Post Keyholer Says He’s Cleared on Extortion Rap
Choire Sicha, ''The New York Observer'', January 29, 2007
Burkle's Source Agrees to Buy Primedia Magazine Group (Update4)
Leon Lazaroff, ''Bloomberg.com'', May 14, 2007
Forbes, 1 October 2007
Washington Post, 5 April 2008
Aloha Bankruptcy Scheme Approved
BBC News, 30 November 2005; accessed 31 March 2008
*
{{DEFAULTSORT:Burkle, Ronald
1952 births
American billionaires
American chief executives of financial services companies
American chief executives of food industry companies
American financiers
American media executives
American philanthropists
American political fundraisers
American venture capitalists
Businesspeople from California
Living people
National Hockey League executives
National Hockey League owners
Sportspeople from Pomona, California
Pittsburgh Penguins owners
Stanley Cup champions
People from Claremont, California
San Diego Wave FC owners