In May 1989, four years after he shocked Wall Street by buying the cosmetics company Revlon for $2.7 billion, Ronald Perelman, then 46, was named America's richest man by Institutional Investor. At the time, Perelman had a net worth estimated at $5 billion, derived from a decade of buying and selling all manner of companies, from a grocery store chain and a group of jewelry stores to a cigar manufacturer and an obscure maker of licorice extract. In achieving this pinnacle of success in American capitalism, Perelman surpassed Sam Walton, the founder of Walmart, who had long occupied the top spot. Perelman, the magazine proclaimed, was a "latter-day Midas."
In a way it was fitting that Perelman was the country's richest person at the end of the 1980s, a decade that celebrated greed and glory on Wall Street and in its various practitioners. The '80s gave us Michael Milken and the junk bond, Lew Ranieri and the securitization of car loan, mortgage, and credit card receivables, and a murderer's row, including Carl Icahn, Asher Edelman, and Saul Steinberg, of newly dubbed "corporate raiders." Towering above them all was Perelman, an unlikely-looking titan who shaved his head before it was fashionable and wore tight dress shirts before they were fashionable too, but who nonetheless had all the trappings of modern moguldom.
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Denne historien er fra September 2022-utgaven av Town & Country US.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Jersey, JE ΤΙΜΕ
Nearly 50 years ago a museum opened in Paris.
THE HUNGER GAMES
Two former bons amis grew up in the same expensive suburb and cut their teeth together in the Paris nightclub scene. Then they launched competing restaurant empires, and the gloves came off. Now one of them is facing a suspended prison sentence and a huge fine. Welcome to the city's most delicious grudge match.
HIDDEN in Plain Sight
T&C was invited into the private archives and secret workshops of Paris, to glimpse the treasures that have made this city famous for its style and craftsmanship. It's a reputation worth fighting for.
GUARDIAN of Objects
Laura Kugel is the go-to art dealer for the world's most discerning clients, but her family's Paris wonderland is open to all. Come inside, won't you?
Ecole! Elysée! SCANDALE!
The path to the French White House requires a political education at one of the country's elite universities. As controversy swirls around Sciences Po-class treason, #MeToo à la française, creeping le wokisme-will its grip on power finally slip?
Are There Still Mysteries in Paris?
Surely not, in the world's most visited city! And yet: Why is the Louvre called the Louvre? Why do the upper stories of its 17th-century buildings tilt in? Why do even familiar streets feel so enticing, unknown? One thing is clear: So many of us return because the City of Light is really one of mesmerizing shadows.
High SEAS
How seductive is a cruise on an ultraluxury ship (yes, that's a category) like the new Regent Seven Seas Grandeur? So much so that a 132-day sailing sold out in three hours. It was time to investigate.
The Cruise Cure
One definition of bliss at sea is padding down a ship's hallway from your suite to the spa in a robe and slippers. Here's what awaits.
Only a Day to Spare?
These hotel spas-mini-me's of destination, health retreats punch way above their weight. So, if you're in the neighborhood...
So, Where Do You Ride in Paris?
A fancy equestrian's guide to the best of Gallic galloping.