On his 55-year journey from penniless Italian immigrant to multibillionaire cable magnate, Rocco Commisso has shown an uncanny knack for being at the right place at the right moment—and taking full advantage of it.
Rocco Commisso darts around his office, gnawing a stick of nicotine gum and playing show-and-tell.
“Look at the rates,” he says, holding up a plaque celebrating a $2.4 billion financing round from 2001, his cable firm’s largest ever. Up next are some personal keepsakes: A picture with fellow billionaire Charles Dolan, a golden telescope to take in views of the Catskill Mountains, a signed photo of Pelé, the Brazilian footballer. Every few minutes Commisso calls out to his assistant as if this tour is taking place against his will. “Jen, this guy wants to see all of my personal stuff!” he yells. Then he scans the room for another prize to trot out.
Forgive him the braggadocio. Commisso, 68, has risen farther than nearly anyone in America. The son of a penniless carpenter, he immigrated from Italy at age 12 unable to speak a word of English. A quirky talent for playing the accordion got him into Catholic school, the first step on a prosperous path that included stops at Columbia University and the Royal Bank of Canada before he founded his cable company, Mediacom, in 1995.
Mediacom focused on buying cable assets in rural areas, where prices were low and competition scant. The firm has increased its top line every year since its founding; revenue neared $1.9 billion in 2017. Commisso owns the company outright, and its value constitutes virtually his entire fortune. Thanks to a white-hot mergers-and-acquisitions market, the business is worth an estimated $4.3 billion—and Commisso, who makes his debut on Forbes’ Billionaires list this year, seems ready to cash out.
This story is from the April 27, 2018 edition of Forbes India.
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This story is from the April 27, 2018 edition of Forbes India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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