Ted Turner Net Worth
Ted Turner has an estimated net worth of $2.3 billion. He is a television and media magnate who founded CNN, the first 24-hour cable news network. He earned the majority of his income from CNN.
Ted Turner was born in 1938 in Ohio. In 1963, he became president and CEO of his father’s company, Turner Advertising. He later renamed the company Turner Broadcasting Company and launched CNN, the first 24-hour cable news network, in 1980. In 1996, Time Warner paid $7.5 billion for Turner Broadcasting. From 1991 to 2001, Turner was married to actress Jane Fonda.
To calculate the net worth of Ted Turner, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as loans and personal debt, are included in total liabilities.
Here’s the breakdown of his net worth:
|Net Worth:||$2.3 billion|
|Monthly Salary:||$10 Million+|
|Annual Income:||$100 Million+|
|Source of Wealth:||Entrepreneur, Businessperson, Screenwriter, Film Producer, Television producer, Media proprietor|
Ted Turner was born on November 19, 1938, in Cincinnati, Ohio, as Robert Edward Turner III. His parents are Robert Edward (Ed) Turner Jr. and Florence (Rooney) Turner. Turner Advertising was owned by Turner’s father. Ed made a lot of money selling billboard ads, so the business was a success. Although Ed was a good provider, he suffered from bipolar disorder’s mood swings and vented his rage by physically abusing Turner. Turner would later discover as an adult that he, too, was bipolar.
Ed enlisted in the Navy when World War II broke out. In 1941, he brought his wife and Turner’s sister to the Gulf Coast, but he abandoned Turner, who felt horribly abandoned. Turner attended a Cincinnati boarding school while his family was away. Ed relocated the family to Savannah, Georgia, after the war, and enrolled his son in the Georgia Military Academy.
Turner began attending McCallie, an elite boarding school in Chattanooga, Tennessee, in 1950. Turner’s favorite subject was military training, which was included in his curriculum. Turner hoped to join the United States Naval Academy after finishing his course load at McCallie, but his father insisted he apply to Harvard. Turner’s grades were insufficient for admission to Harvard, so he enrolled at Brown University instead in 1956. However, before he could graduate, Turner was expelled from college for having a woman in his dorm room in 1959, the same year his parents divorced.
Turner’s father appointed him manager of Turner Advertising’s Macon, Georgia, branch in 1960. Turner quickly demonstrated a natural business talent by more than doubling the office’s revenue in his first year. Turner’s father bought out a competitor in 1962, but the expensive buyout and subsequent debt put the company in jeopardy. Ed committed suicide in March 1963, fearing bankruptcy and struggling to cope with bipolar disorder. Turner coped with his grief by immersing himself in his work. He became president and CEO of Turner Advertising, which was renamed Turner Communications in the late 1960s after the company purchased several radio stations. By 1970, he was the owner of the largest advertising company in the southeastern United States. Turner eventually ventured into television, acquiring the rights to old films and situation comedies. The decision proved to be extremely profitable.
Turner made a strategic decision in 1976 to use satellite technology to reach an even larger audience. He rebranded once more, changing the name of his company to Turner Broadcasting Company. He had the idea for an all-news network in the late 1970s. Cable News Network (CNN) debuted in 1980, but it was profitable six years later. Turner used some of his profits to purchase Metro-Goldwyn-Mayer in 1985. (MGM). Turner began coloring films in the 1980s as well, but soon realized the expense was prohibitive.
He founded the Cartoon Network in 1992, as well as Turner Network Television (TNT) and Turner Classic Movies (TCM). Turner Broadcasting, a leader in both the television and Internet industries, was sold to Time Warner for $7.5 billion in 1996. Turner stayed on after the merger to run the company’s cable networks, including Home Box Office (HBO). Time Warner and America Online merged in 2001. (AOL). Turner tried his hand at an entirely new business venture the following year, Ted’s Montana Grill, a steakhouse serving bison.
Turner married and divorced three times during his successful broadcasting career. His third marriage, to actress and activist Jane Fonda, was his most well-known. The couple married in 1991 and divorced a decade later due to religious differences. Turner has five children in total, two from his first marriage to Judy Gale Nye and three from his second marriage to Jane Shirley Smith.
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