Karl Eller was born in 1928, in Chicago, Illinois USA, and is an entrepreneur and businessman, best known for becoming one of the founding investors of the National Basketball Association (NBA) team, the Phoenix Suns. He’s been active in business since the 1960s, and all of his efforts have helped put his net worth to where it is today.
How rich is Karl Eller? As of mid-2017, sources estimate a net worth that is at $400 million, mostly earned through success in business. He’s worked with various companies, and is considered one of the biggest names in the advertising industry. All of his achievements have ensured the position of his wealth.
Karl Eller Net Worth $400 million
Karl grew up in Tucson, Arizona, where later he would attend the University of Arizona and play college football during his time there. After completing his studies, he went on to focus on a business career.
Eller’s net worth grew over the years, and he made one of his most significant purchases in 1962, when he acquired the Arizona operations of the billboard advertising company Foster and Kleiser which was based in New York. He built his purchase into a big regional business and garnered success in the next few years. He then became one of the founding investors of the Phoenix Suns six years later, leading his own investor group; he would also be responsible for hiring Jerry Colangelo as the team’s inaugural general manager.
Eller would then merge his advertising business with KTAR television and radio to form Combined Communications, Inc. The company would continue to grow and later absorb Gannett in 1979. During the height of the success of Combined Communications, they owned two Canadian outdoor advertising companies, two metropolitan daily newspapers, 12 American outdoor advertising companies, 14 major metropolitan radio stations, and seven major metropolitan television stations, all of which boosted Karl’s net worth significantly.
He would then become the head of Columbia Pictures, and helped the company merge with The Coca-Cola Company in 1983. Later on, the merger would be joined by the convenience chain store Circle K which Eller handled for the next seven years, helping Circle K become one of the largest convenience store operations in the US, gaining more than 4000 stores in 32 states. The chain also had venture stores in 13 other countries. However in 1990, the company went into bankruptcy leading to Karl’s resignation as CEO of the company.
Thanks to his achievements, Eller has been inducted into the Advertising Hall of Fame by the American Advertising Federation, just the second outdoor advertising executive to be inducted and the first Arizonian. The College of Management at the University of Arizona is also named after him.
For his personal life, it is known that Karl has been married to Stevie since 1952, and the couple is very active in charity efforts in Arizona. He was also the head of the state’s Centennial Commission which helped raise money for Arizona during the time of celebration. In 2012, Karl was hospitalized after a bicycle accident in which he had to undergo a medically induced coma. He recovered after several months; he still resides in Phoenix with his wife.
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