I created this video with the YouTube Slideshow Creator (http://www.youtube.com/upload) Post Comments You edit it by entering text in the "Biographical Info" field in the user admin panel. Turkey-Greece earthquake: 14 killed, over 100 injured as strong tremors hit... Twitter took votes away from Trump in 2016 US polls: Study, German economy grows at record pace before second wave of pandemic. Here's why Prince William was extremely upset with Prince Harry-Meghan... Sharad Purnima 2020: Know date, significance, mahurat, vrat rituals, 'Bigg Boss Tamil' Season 4: Kamal Haasan introduces 16 contestants - See 16 pics. On August 20, 2004, it was announced that Ronald Perelman's MacAndrews & Forbes Holdings company would buy 70% of AM General from Renco. Antillia -- $1 billion Owned by Indian billionaire industrialist Mukesh Ambani, this 27-story, 400,000 square-foot south-Mumbai estat... 1.
He has contributed money to John McCain, Rudy Giuliani and other candidates..
Mukesh Ambani's Antilia is actually the most expensive private residential home in the world. This improvement was beyond the economic and technical capability of Centromin. The smelter was sold to Doe Run in 1997 primarily because the Peruvian government passed a law that required environmental improvement at the business.  The house outraged locals, who claimed Rennert originally planned to use it as a spa, a hotel, or a religious retreat. 18-19 Kensington Palace Gardens -- $222 Million, 4. 5. Rennert's strategy for building Renco was to acquire all the shares of struggling companies and to finance the acquisition by issuing junk bonds. They also donated hundreds of Torah scrolls to communities in Israel. The deal reportedly cost close to US$1 billion. ) By 1998, the year the Renco was placed on the EPA list, Renco had reduced emissions at US Magnesium by 50%. The house faces the Atlantic Ocean and its grounds measure 63 acres (250,000 m2). Police: Bodies of father, daughter recovered from Fairfield pond; passerby rescues boy, 4 Breaking News Staff 10/1/2019.  Backed by blue-chip mutual funds and hedge funds such as John Hancock Funds LLC and Putnam Investment Management LLC, Rennert now didn't have to invest much of his own money.  Newspaper reports speculated that the Pension Benefit Guaranty Corporation had threatening to put a lien on Rennert's personal estate in order to ensure the steelworkers' benefits. Villa Leopolda -- $750 million This palatial series of villas and gardens located in the town of Villefranche-sur-Mer on the French R... 10.
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Interestingly, since the Buckingham Palace belongs to the crown, Mukesh Ambani's Antilla is actually the most expensive private residential home in the world.
Along the way, Rennert paid substantial dividends out of the business to himself. Top 10 Most Prolific Goal Scorers in The Premier League of All Time. Its property taxes in 2007 were $397,559.00. Terms included a $67.5 million cash payment with the remainder to be paid in various forms over a 10-year period.  Magcorp declared Chapter 11 bankruptcy shortly after the lawsuit began and a federal judge allowed Rennert to restructure MagCorp — now U.S. Magnesium — which exempted it from previous legal liability. This property was built for the King of Belgium back in 1830. Rennert is a major Republican donor. Name of property: Four Fairfield Pond Location: Sagaponack, New York Owner: Ira Rennert—Owner the Renco Group VALUE: 248.5 MILLION US DOLLARS. Another US unit of Renco also faced environmental issues in Herculaneum, Missouri and has made substantial improvements.  The suit went on until 2007, when a judge ruled in favor of Renco and against the DOJ. The larger than life palace costs approximately $1 billion. Located in Sagaponack, N.Y., two villages over from ultra-chic East Hampton, this 29-bedroom estate has its own power plant, basketball court, bowling alley, squash courts, tennis courts and a 91-foot long formal dining room. Reliance Industries Limited Chairman, Mukesh Ambani's 27-storey Antilia in Mumbai was buit at an estimated cost of $1-2 billion in 2010. At this time he was censured by the National Association of Securities Dealers for operating with insufficient capital. Mar 9, 2015 . Hilarious Things That Happen When The Girlfriend is on Bed. Rennert's wife and children are named as the donors of The Jonas Mendel (Yonah Menachem Ben Mendel) Rennert Memorial Chapel at the Center for Jewish History.  and won an MEP award in 2006 for Environmental Consciousness.
As part of the sale to Renco, Centromin agreed to pay to remediate pre-existing (pre-1997) environmental problems and Doe Run Peru agreed to make substantial environmental investments. In 1997, Doe Run went on to pay $247 million for a similarly environmentally troubled lead smelting complex from the Peruvian government, as well as borrowing more money to service its Fluor Corporation debt. The 63-acre home comes with 29 bedrooms, 39 bathrooms, a basketball court, bowling alley, squash courts, tennis courts, three swimming pools, and a …  In 1998, Renco Steel Holdings Inc. was created to serve as a holding company for WCI. In 1988, Renco bought a Warren (Ohio) steel company from its bankrupt parent, LTV Steel Co., for a price tag of $140 million. The agencies demanded nearly $1 billion in fines, alleging MagCorp (a Renco Metals Inc. subsidiary) dumped toxic waste in ditches and ponds on the Great Salt Lake.  In August 2007, it was reported that air levels of arsenic levels were 85 times more than the "safe" level, cadmium 41 times, and lead 13 times more.  In a series of junk bond issues since 1995, Renco's subsidiaries have borrowed an estimated $1.1 billion and transferred $322 million (29 percent) to Renco Group, according to documents filed with the U.S. Securities and Exchange Commission (SEC).
Just like WCI, the company paid Renco $90 million in dividends by the year end. Seven the Pinnacle -- $155 million Owned by Tim Blixseth, an American real-estate developer and musician, and his ex-wife Edra, this h... 2.
Sep 19, 2014.  A 2002 study showed more than half of the children living within a quarter mile of the smelter had high blood-lead levels. Doe Run, Peru, (a Renco Group holding) operated a smelting plant in La Oroya, Peru until 2010, that had similar types of environmental challenges to those faced in Herculaneum, but on a larger scale.  US Magnesium was the recipient of a 2004 Climate Protection Award from the EPA. Share. , Rennert started his career as a credit analyst on Wall Street in 1956.  In 2000, the EPA and the Missouri Department of Natural Resources tested area lead levels and ordered Doe Run to clean up locations where lead levels exceeded EPA standards. Its owner, Ira Rennert, built his personal fortune of an estimated $5.9 billion through acquiring companies by raising junk bonds. , The Renco Group's environmental record in the U.S. related to Doe Run provides a good example of this development.
But do you know who owns the second most expensive home in the world? , In 2001, the Justice Department and EPA took action against Renco, filing suit against the company. It is worth $750 million. Kensington Palace Gardens -- $140 million, 6.  The La Oroya smelter began operations in 1922 and was operated for many years by Centromin, a Peruvian government agency, without any environmental controls. In 1996, Renco established Renco Metals, Inc. as a holding company for Magnesium Corp. and issued $150 million in bonds. Situated in France, this property is ownbed by Lily Safra, a Brazilian philanthropist and widow of Lebanese banker William Safra, the 50-acre estate includes a massive greenhouse, a swimming pool and pool house, an outdoor kitchen among other attractions. Rennert named his home after the adjoining body of water, Fairfield Pond. On January 14, 2011, the United States Court of Appeals sided with the EPA and upheld placing the site on the National Priority List. A Pocket Guide to Environmental Bad Guys, (New York: Thunder's Mouth Press).  MagCorp maintained it was exempt from the federal Resource Conservation and Recovery Act, which requires companies to monitor certain kinds of hazardous waste. Ira Rennert is married to Ingeborg Hanna Rennert. His purchase of AM General in 1992 was bought with a down payment of just $10 million.
EPA and MDNR continue to work with Doe Run to address stabilization, erosion control, flood protection, stormwater collection and treatment, and wetland mitigation related to the slag pile area at the site. It won't come as a surprise when we will tell you that World's most expensive residence belong to the Queen of England, Bukingham Palace. . Contact 132 North Main Street 2nd Floor East Hampton, NY 11937 T 631.725.0229 email  Harbinger sold the business to Severstal, a steelmaker based in Russia.. In the end, Doe Run ended up investing more than $300 million in environmental remediation during its ownership and was not able to clean up the site to achieve the standards required by Peruvian law. " In the first quarter of 2007, Doe Run met all of the National Ambient Air Quality Standards (NAAQS).
 They also established the Ira Leon Rennert Professor of Entrepreneurial Finance at New York University and founded the Ingeborg Rennert Center for Jerusalem Studies at Bar-Ilan University.  In 2013, Doe Run shut down its lead smelter, entirely discontinuing emissions in Missouri.  Doe Run agreed to buy 160 homes in the contaminated area around the smelter at a cost of more than $10 million. 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, Learn how and when to remove this template message, 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!