function getOneTrustCookie() { Rennert's parents were immigrants from Poland and Romania. 'pubdate' : '1341942417' , } else { The initial lawsuit DOJ filed on behalf of EPA in 2001 claimed U.S. Magnesium was not following regulations promulgated under the Resource Conservation and Recovery Act of 1976, which dictates how waste byproducts must be disposed. Ira Rennert is no stranger to controversy | Baltimore Brew [19] US Magnesium was the recipient of a 2004 Climate Protection Award from the EPA[20] and won an MEP award in 2006 for Environmental Consciousness. We're a nonprofit (so it's tax-deductible), and reader support makes up about two-thirds of our budget. Renco's holdings include a stake in military truckmaker AM General, lead and zinc producer Doe Run Company and U.S. Magnesium Corp., among others. Media related to Ira Rennert at Wikimedia Commons, The website address for the US Magnesium Superfund Site is, Toxic Lead Smelting Operation in La Oroya, Peru, Last edited on 17 February 2023, at 14:42, New York University's Stern School of Business, National Association of Securities Dealers, United States Court of Appeals for the District of Columbia Circuit, List of investors in Bernard L. Madoff Securities, New York University Leonard N. Stern School of Business, "SEC News Digest - Dixie Dinettes Files for Secondary", "Ira Rennert's House of Debt: How leverage made millions for a tarnished financier--and investors lost out", "Doe Run owner built empire on junk bonds", "US: U.S. Moves to Seize Pension Fund in Dispute With Renco | corpwatch", "U.S. Moves to Seize Bankrupt Steel Maker's Pension Plan", "Perelman Seeks Controlling Stake in Maker of Hummer", "Summaries of the 2004 Climate Protection Award Winner's Accomplishments", "Herculaneum Facility to Close After 120 Years in Operation", The Nation: "Religious Leaders Challenge Polluter" by Sara Shipley Hiles, "Poisoned city fights to save its children", "-Yeshiva University News - Gifts Boost Medical Research: Ten Professors Invested in Endowed Chairs at Albert Einstien College of Medicine", "Members of Congress, Obama Administration Go to Bat For Billionaire Investor", Vanity Fair: Letter from the Hamptons: Sand Simeon, New York Observer: "Big Deal! According to a company spokesman, Jon Goldberg: "Due to market conditions, the firm found itself in violation of the net capital rule and Rennert raised capital and put it into the firm to bring it into compliance. {key:e[2],parent:a(e[1],window)}:{key:t,parent:window}}var c=t("ee").get("jsonp"),f=t(24)(c);if(e.exports=c,o()){var u=/[?&](?:callback|cb)=([^&#]+)/,d=/(.*)\.([^.]+)/,p=/^(\w+)(\.|$)(. Mother Jones was founded as a nonprofit in 1976 because we knew corporations and billionaires wouldn't fund the type of hard-hitting journalism we set out to do. May 2011 - Sep 20115 months. Dalene and his neighbors near the East Hampton Airport might have abided Rennerts choppershe owns twohad they been an anomaly. Renco Group Inc, Rennerts holding company, said neither it nor the mining mogul would have been liable had Kaye Scholer and partner Peter Haveles objected to faulty jury instructions that Rennert has said led to an irrational February 2015 verdict. } mps.response.dart.adunits[i].data = ''; The deal reportedly cost close to US$1 billion. Ira Rennert - Family, Family Tree - Celebrity Family - celebfamily Looking to lower your 2022 taxes? In 1989, Renco acquired the U.S.s largest, to assist LTV emerge from bankruptcy. Junk bond billionaire Ira Rennert has a massive house in the Hamptons. 'cat' : 'Business News|Wealth|Inside Wealth' , script.setAttribute("src", "//www.npttech.com/advertising.js"); mps._urlContainsEmail = function() { } Roth IRA contribution limits have increased for 2023. Then, in 2007, not long after Sagaponack was incorporated as a village, its trustees voted to cap future abodes at 12,000 square feet. }; The case arose from the 2001 bankruptcy of Magnesium Corp of America. AM General produced vehicles for military, industrial and government use, which includes theHumvee. Reporting by Jonathan Stempel in New York; Editing by Chris Reese. Ira Rennert and his wife Ingeborg in 2013. 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[6] The suit went on until 2007, when a judge ruled in favor of Renco and against the DOJ. An intensely private 78-year-old with a leonine mane of white hair, he emerged from a middle-class home in East Flatbush, Brooklyn, to become one of Wall Streets most renowned bad boys. Tamara is married to Randy Winn. }; TRD Staff | January 10, 2018 06:05PM. The house faces the Atlantic Ocean and its grounds measure 63 acres (250,000m2). (Suspecting an Israeli plot to dig under the al-Aqsa mosque, Arabs faced off against security forces, and at least 70 were killed.) Ira Rennert - Philanthropy - LiquiSearch [citation needed], Rennert's strategy for building Renco was to acquire all the shares of struggling companies and to finance the acquisition by issuing junk bonds. (function(){ mps._debug('[MPS]: email address detected in url, bypass gpt. [30] More recently, Rennert has provided cash and support for groups like the Elad Association and Ateret Cohanim, which promote the construction of Jewish homes in Arab sections of Jerusalem. Rennert ranks on the 29th spot onThe Jerusalem Postlist of the Worlds 50 RichestJews in the year 1988. The smelter was sold to Doe Run in 1997 primarily because the Peruvian government passed a law that required environmental improvement at the business. const blockedCategories = decodeURIComponent(matches[1]) I am so happy to have some good news for Roth IRA investors finally. Sign up for free newsletters and get more CNBC delivered to your inbox. This is real, he insists. But nothing Rennert has touched is as controversial as his lead smelters, Dickensian monuments to human misery. Just like WCI, the company paid Renco $90 million in dividends by the year end. window.location.href = `/opt-in-check?pub_referrer=${encodeURIComponent(url)}`; Rennert has since filed a countersuit claiming Perelman diverted as much as $175 million that should belong to Renco. On the dunes just behind Rennerts estate, Im confronted by a security guard who springs from the bushes. Ira Rennert net worth: Ira Rennert is an American businessman who has a net worth of $4 billion and that makes him one of the richest people in New York. Greater New York City Area. 'byline' : 'Robert Frank' , On this Wikipedia the language links are at the top of the page across from the article title. return _regex.test(_qs); Frank Dalene, a luxury homebuilder-turned-anti-chopper-activist, told Rennert in an email that burdening residents with chopper traffic was like throwing your garbage on the side of the tracks for us poor folks to live with., A spokesman for Rennert said that: "Singling out Mr. Rennert in this manner is unfair. Billionaire Ira Rennert has filed a $214 million malpractice lawsuit against his former law firm, after a jury found him liable for looting his magnesium company to build a huge mansion in New . Here's a video he recorded of Rennert's . Terms included a $67.5 million cash payment with the remainder to be paid in various forms over a 10-year period. The business mogul, who Forbes says is worth $5.9 billion, was recently in court defending the funding of his Sagaponack estate. var dynamic_yield_enabled = 1 A Pocket Guide to Environmental Bad Guys, (New York: Thunder's Mouth Press). If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2023 demands. [citation needed] In 2013, Doe Run shut down its lead smelter, entirely discontinuing emissions in Missouri. He was at 435th spot in Forbes list of billionaires in 2016 and at 154th spot in United States. Its a fucking monster! marvels a bulldozer operator from Westhampton Beach, who takes a break from shaping sand dunes to gaze up at Rennerts 12 chimneys. cStart = cStart + name.length + 1; First he was sued by a business partner. 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