Lorenzo Fertitta Biography & Net Worth
|Popular Name:||Lorenzo Fertitta|
|Real Name:||Lorenzo Joseph Fertitta|
|Birth Date:||3 January 1969|
|Birth Place:||Las Vegas, Nevada, United States|
|Years active:||1993 Till Date|
|Net Worth:||$2.5 Billion|
|Last Updated:||December, 2020|
Lorenzo Fertitta is an American businessman, investor entrepreneur, and the former Chief Executive Officer of the Ultimate Fighting Championship (UFC). Lorenzo and his brother inherited the family business from their father, Frank Fertitta Jr. and established an empire from the foundation of Fertitta Enterprises. He, alongside his brother Frank III, built the famous Station Casinos leading it to its first IPO, raising $294 million. He also expanded the franchise by establishing the Palace Station Hotel & Casino and also the Red Rock Casino, Resort & Spa. Later on, he and his brother set up Zuffa, LLC to acquire the rights of the popular mixed martial arts promotion called Ultimate Fighting Championship (UFC). The brothers ran the business until 2016 when they sold it. Lorenzo served as Chief Executive Officer and Chairman of UFC until its sale. He and his brother set up the private business firm “Fertitta Capital” in 2017. Apart from being involved in businesses, Lorenzo Fertitta net worth has also benefitted from his countless investments. He has also won love as a humanitarian who has contributed so much to the less fortunate in terms of donating towards providing sports and academic facilities for underprivileged youth, both in the United States and internationally.
Lorenzo Fertitta’s Early Life
Lorenzo Joseph Fertitta was born in Las Vegas, Nevada, United States on 3 January 1969. He completed his studies at Nevada at a private catholic prep school named Bishop Gorman High School. He attended the University of San Diego, completing his education with a bachelor’s degree in business administration in 1991. In 1993, he earned an MBA from New York University’s Stern school of business.
Lorenzo Fertitta’s Career
Lorenzo and his younger brother inherited their father’s casino in 1993 soon after completing his studies at New York University’s Stern school of business. He assumed several positions in the family business including serving as vice president, then later president and CEO. In 2001, he collaborated with his brother Frank and proceeded to acquire the authorities of joined-martial-arts confederation UFC for a minute portion. UFC is aired in over a billion houses across 150 countries, in over 30 languages. It leads the biggest pay-per-view viewers in the entire world having headquarters in London, Toronto, Sao Paulo, and Singapore.
Lorenzo kept his place as a co-creator and one of the main investors of Station Casinos Inc, where he also served on the board of directors as an associate in 1991. He became president in 2000, but left anyway, to work at Zuffa, LLC. Station’s Casinos. He and his brother initiated ultimatepoker.com in 2013, but closed it a year later due to a demanding dogmatic setting and operational errors. Their creation became the first authentic online gaming site, though it was short lived. The brothers again announced the Fertitta Veterans Program at New York University Stern school in 2016. It is a comprehensive MBA program designed to fund veterans’ of the United states military shifted to business school. In 2017 the brothers also invested their money to the creation of a private investment company Fertitta Capital . The company has a stable investment and firmly contributes to several areas including media, technology, and entertainment.
Awards & Achievements
Lorenzo Fertitta has associated with many organizations who recognized him for most of his contributions in different ways. Asides being an ex-Chairman of the Nevada Resort Association, he is an ex-member of Nevada State Athletic Commission. He was formerly affiliated with the American Gaming Association. Additionally, he was formerly an Advisory Board Member of Nevada First Bank.
Personal Life & Family
The 51-year old entrepreneur has fathered three children with his wife, Teresa.
Mr. Fertitta is a strong charity donor. He spends some of his wealth by giving to charity groups. He donates to Las Vegas charities on a regular basis, and his beneficiaries include Three Square, Nathan Adelson Hospice, Catholic Charities of Southern Nevada, and the Lou Ruvo Center for Brain Health.
Lorenzo Fertitta Net Worth
For a fact, Lorenzo is one of the richest business owners in the world. He made his money in the last two to three decades from being an industrialist, sports advertiser, casino executive, and businessman. While details of his salary and properties have been kept away from the public, it is on record that he earns well from managing his father’s casino business which he inherited and has led to massive expansion. He also served as the President and Chief Executive Officer of Gordon Biersch Brewing Company, and has also remained the administrator of Station Holdco LLC. Lorenzo and his younger brother inherited their father’s casino in 1993 soon after completing his studies at New York University’s Stern school of business. He assumed several positions in the family business including serving as vice president, then later president and CEO.
The wealthy entrepreneur is said to be worth around $2.5 billion. Apart from being involved in businesses, Lorenzo Fertitta net worth has also benefitted from his countless investments.