Lorenzo Fertitta Net Worth - Pulptastic

Publish date: 2024-05-07

What is Lorenzo Fertitta’s Net Worth?

Lorenzo Fertitta is a successful American businessman, with a net worth of $3 billion. He is known for his work as a casino executive, sports promoter, and entrepreneur.

Fertitta currently serves as chairman of Fertitta Capital and director of Red Rock Resorts Inc. He was also a majority owner in the Ultimate Fighting Championship Organization before it was sold to WME-IMG for $4 billion in 2016.

Prior to his current roles, Fertitta served as President of Station Casinos Inc. from 2000 to 2008.

Lorenzo Fertitta’s Background

Lorenzo Joseph Fertitta was born on January 3, 1969, in Las Vegas, Nevada. He is the son of Frank Fertitta Jr and Victoria Broussard Fertitta. Frank became a casino dealer and eventually moved into management at several properties on the Las Vegas Strip. In 1976, Fertitta Jr. built The Casino, which eventually became Palace Station and catered to Las Vegas residents.

Lorenzo graduated from Bishop Gorman High School in Las Vegas in 1987, where he played football. He attended the University of San Diego, where he was a member of Sigma Pi fraternity, and graduated with a B.A. in Business Administration in 1991. In 1993, he received his MBA from New York University. Throughout high school and college, Lorenzo worked for his father at a Station Casino.

Lorenzo Fertitta’s Career Highlights

Lorenzo and Frank III led Station Casinos to its first IPO in 1993, raising $294 million. The company went private again in 2007 and filed for Chapter 11 bankruptcy in 2009 before emerging in 2011. In 2015, Lorenzo and Frank III filed with the SEC to take Station Casinos public again through an IPO. The Fertitta brothers established Zuffa, LLC in 2001 to buy the Ultimate Fighting Championship for $2 million and ran the UFC until it was sold in 2016 for $4 billion. Fertitta Capital, a private investment firm, was launched in 2017 with an initial seed investment of $500 million from the Fertitta brothers.

Lorenzo served as a Commissioner on the Nevada State Athletic Commission, Chairman of the Nevada Resort Association, and Vice Chairman and manager of Station Casinos LLC. He also served as a Member of the Board of Directors of the Las Vegas Visitors and Convention Authority and Director of American Gaming Association. In 2014, the brothers debuted ultimatepoker.com, the first U.S. legal online gambling site. In 2020, Lorenzo and Frank III announced they will not take salaries as long as the coronavirus continues disrupting the gaming industry and are donating $1 million to Nevada’s COVID-19 response efforts.

Philanthropy

Lorenzo Fertitta actively supports Bishop Gorman High School, spearheading fundraising for their $96 million campus and donating to the football facilities, which have resulted in 11 state championships and three national championships. He has also donated $10 million to fund a football facility at his hometown university, UNLV. Additionally, he has donated to veterans’ organizations such as the Lone Survivor Foundation and created the Fertitta Veterans Program at New York University’s Stern School of Business to support military veterans’ transition to business school.

Fertitta has also donated to the Fisher House and the Intrepid Fallen Heroes Fund, which provides support for the families of military personnel lost or severely wounded while serving in a branch of the military. However, he has faced criticism for his donation to Donald Trump’s campaign for President.

Lorenzo and Teresa’s Las Vegas Home

Lorenzo Fertitta and his wife Teresa primarily reside in their 13,400-square-foot mansion located in Las Vegas.

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