Isaac Perlmutter – Billionaire

Isaac “Ike” Perlmutter (Hebrew: יצחק “אייק” פרלמוטר‎‎; December 1, 1942) is an Israeli-American businessperson and financier. He has been the CEO of Marvel Entertainment since January 1, 2005. He was also the owner of Remington Products and Marvel Toys.

Early life

Isaac Perlmutter was born to a Jewish family in pre-statehood Israel. He emigrated to the United States after serving in the Israeli Army during the Six-Day War of 1967. Arriving in New York City with only $250, he earned a living standing outside Jewish cemeteries in Brooklyn, leveraging his Hebrew skills to lead funeral services for tips.

Later he sold toys and beauty products on the streets of New York City, which eventually evolved into selling surplus stock and end-of-line items at a big profit. Although he never attended a university, he taught himself how to read a balance sheet and became very good at spotting overlooked value in weak and distressed companies.

Career

Revco

With a new partner, Bernard Marden, and leveraging the skills he attained as a wholesaler, he formed a company called Odd Lot Trading, a wholesaler and retailer of closeout items. In May 1984, they sold Odd Lot to Revco Discount Drug Stores in exchange for 12% of Revco stock. He soon challenged Revco management for control of the company but, after initial positive feedback, was rejected. Perlmutter and his partner threatened a hostile takeover but eventually refrained and sold their share back to Revco for $120 million.

Source:wikipedia