David H. Murdoch net worth
David H. Murdoch Net Worth: David H. Murdoch is an American businessman and philanthropist with a net worth of $3.7 billion. David H. Murdoch was born on April 11, 1923, and moved to Detroit after the war, where he was homeless and destitute. Came across a nice guy who took out a $1,200 loan to buy a diner that was closing and managed to flip it into a $700 profit 10 months later.
He moved to Arizona to work first in housing and then commercial real estate. When the housing market collapsed in the ’60s, he moved to Los Angeles, where he continued to develop real estate opportunities, leading to a series of acquisitions. He took control of International Mining in 1978 and became Occidental’s largest shareholder in the early 1980s by selling his 18% stake in Iowa Beef to Occidental. In 1985, Murdoch took over the nearly bankrupt Hawaiian company Castle & Cooke, which owned pineapple and banana producer Dole Foods. He grew Castle & Cooke’s real estate portfolio into residential and commercial properties and turned Dole into the world’s largest fruit and vegetable producer. He acquired Dole privately in 2003 and completed a $446 million IPO in October 2009, which traded on the New York Stock Exchange under the ticker symbol DOLE until the private merger agreement on October 31, 2013 Approval. As a result of Castle & Cook’s acquisition of Cook, Murdoch has acquired a 98 percent ownership of Lanai, Hawaii’s sixth-largest island. In June 2012, he sold his stake in Lana’i to American businessman Larry Ellison. As of March 2013, Forbes ranked Cohen as the 190th richest person on the Forbes 400 list and 613th on the “World’s Billionaires” list. Murdoch also owns a number of manufacturing companies and cancer drug developer NovaRx, whose son Justin is chief executive. At Duke University in North Carolina, he is funding a major study into the leading causes of disease and death.
