Legendary tycoon Kirk Kerkorian, pictured in 2003, who
built iconic Las Vegas resorts and was a major investor in automakers and film
studios, died at age 98 .
New York (AFP) - Legendary tycoon Kirk Kerkorian, who
built iconic Las Vegas resorts and was a major investor in automakers and film
studios, died late Monday, MGM Resorts International spokesman Clark Dumont
said.
"Mr. Kerkorian was a quiet but powerful force behind
the transformation of the Las Vegas Strip into one of the world’s most popular
tourist destinations," MGM Resorts said in a statement.
"He was also a generous humanitarian who donated
hundreds of millions of dollars to charities worldwide."
An eighth grade dropout from an Armenian-American family,
Kerkorian built the foundation of his empire in Las Vegas, constructing the
iconic MGM International in 1969 and MGM Grand in 1973.
Kerkorian was also a major auto investor, sparring for
control of Chrysler in the 1990s before pushing a deal to sell the US giant to
Germany's Daimler-Benz.
In the 2000s he also took stakes in General Motors and
then Ford.
He continued to do major deals well into his 80s, buying
big Las Vegas casinos for billions early in the new millennium.
Kerkorian took a hit after the 2008 financial crisis, but
remained the largest shareholder in MGM Resorts International at the time of
his death.
MGM chief executive Jim Murren paid tribute to Kerkorian,
listed by Forbes as the world's 393rd richest person with net worth of $4
billion.
"MGM Resorts and our family of 62,000 employees are
honoring the memory of a great man, a great business leader, a great community
leader, an innovator, and one of our country's greatest generation,"
Murren said.
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