Frank Joseph Fertitta III was born on the 24th February 1962, in Las Vegas, Nevada USA, and is an entrepreneur and the current CEO of Station Casinos, co-owner of Fertitta Entertainment, and the owner of Zuffa LLC, the company that runs the mixed martial arts Ultimate Fighting Championship.
Have you ever wondered how much wealth this talented businessman has accumulated so far? How rich Frank Fertitta III is? According to sources, it is estimated that the total net worth of Frank Fertitta III, as of mid-2016, counts at the impressive amount of $1.98 billion including residences in Las Vegas and Laguna Beach in California, as well as a collection of post-war and contemporary art. His wealth has been acquired mostly throughout his casino business and ownership of the UFC.
Frank Fertitta Net Worth $1.98 Billion
Frank was raised in “The Gambling Capital of the World” – Las Vegas, alongside his brother, and later business partner, Lorenzo, in a family of Sicilian Americans. His father Frank Fertitta Jr. was the founder and the owner of the gaming company Station Casinos, so it is no wonder that Frank became such a successful businessman. He attended Bishop Gorman High School in his home town, and later enrolled at the University of Southern California from which he graduated in 1984 with a double Bachelor of Arts and Science degree.
After graduation, in 1985 Frank Fertitta III became an Officer and General Manager of Stations Casinos. Just a year later, he transferred to the positions of the Director, Executive Vice-President and Chief Operating Officer where he stayed for the next three years. Then between 1989 and 2000, Frank Fertitta III served as the president of the company. Since 1992, when he, alongside his brother Lorenzo, officially took over the corporation from their father, Frank Fertitta III has been the Chief Executive Officer of the Station Casinos. All these accomplishments have provided the basis for his rather impressive overall net worth.
In 2001, Frank and his brother Lorenzo, alongside their childhood friend Dana White, purchased the declining fight club, mixed martial arts league – Ultimate Fighting Championship. Immediately after buying the UFC, the Fertitta brothers founded Zuffa LLC, an entity which now runs the league. Frank Fertitta III, with his business skills, has managed to expand the enterprise quickly – in just a few years, Zuffa acquired the World Extreme Cagefighting and Pride Fighting Championships. With the popularity of fighting rising rapidly, the overall net worth of Frank Fertitta III has been increased dramatically.
In 2011, Frank led Zuffa LLC in buying the rival MMA organization – Strike Force LLC. In the same year, the company scored an 8-year deal with Fox Broadcasting Company, with an annual worth of $90 million. It is certain that these accomplishments made a huge, positive impact on the net worth of Frank Fertitta III.
Over the years, the guidance of Frank Fertitta III has led the UFC from one of the worst in the USA to becoming a highly successful international sports enterprise and one of the most profitable businesses in the world, with an annual sales of $500 million. The UFC currently has offices in Toronto, Singapore, São Paulo and London. It counts 442 fighters from 38 countries and it is broadcast in 149 countries with almost 1 billion viewers. Doubtlessly, it has been the main source of net worth of Frank Fertitta III.
Although he inherited millions from his father’s business, Frank Fertitta III has managed to multiply his inheritance several times. With his brother, Lorenzo Fertitta, Frank is one of the leading investors in the Meadows Bank. He is also the co-owner of the hotel management company – Fertitta Entertainment.
When it comes to his personal life, Frank Fertitta III is married to Jill with whom he has 3 children; they currently reside in Las Vegas, Nevada.
In 2012, Frank and his wife donated a major sum to the University of Southern California which provided the funds for building the USC Marshall School of Business and established the Jill and Frank Fertitta Endowed Chair in Business.
Apart from his professional business career, Frank Fertitta III is a passionate art collector with an accent on American Pop and Abstract Expressionism. His collection contains artists such as Christopher Wool, Richard Prince, Damien Hirst and Brice Marden, and also includes William Bouguereau’s Morning Breakfast from 1887.
