var script = document.createElement("script"); mps._adsheld = []; [16] The suit claimed PCB-laced sludge and dust choked the plant's plumbing, wastewater ponds, landfill and ditches, where contaminants were 12 times the allowed limit for accidental release. They 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. https://en.wikipedia.org/w/index.php?title=Ari_Rennert&oldid=1106482882, American people of Romanian-Jewish descent, New York University Stern School of Business alumni, Pages using infobox person with multiple parents, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 24 August 2022, at 20:58. All quotes delayed a minimum of 15 minutes. Looking to lower your 2022 taxes? 'content_id' : '48136349' , With twin 2,520-horsepower engines and up to 19 seats, the Sikorsky S-92 is among the worlds most powerful civilian helicopters. } Rennert paid himself and his holding company, the Renco Group, hundreds of millions in management fees and dividends. [32] She serves as the Director of Lincoln Center for the Performing Arts, Inc.[33] They have three children: Rennert is a member of the Fifth Avenue Synagogue, an Orthodox synagogue[38] where he is also honorary chairman.[39]. )[14] By 1998, the year the Renco was placed on the EPA list, it had reduced emissions at US Magnesium by 50%. This company then became WCI Steel Inc., and Rennert was able to ultimately sell bonds totaling $300 million, paying $108 million of the proceeds as a dividend to Renco. He was born to a Polish mother who emigrated from Poland at age 3 and a father who emigrated from Romania at age 13. //end OneTrust Redirect Ira Rennert denies looting firm to build huge mansion. Rennert was born on May 31, 1934 in Brooklyn New York. [15] The EPA data recognizes this as the single largest reduction in air emissions in the category of hazardous air pollutants since the TRI began in 1987 at any single facility. He reportedly donated funds to help restore the Western Wall in Jerusalem. About Ira Leon Rennert. Ira Rennert's Hamptons Mansion - Business Insider {key:e[2],parent:a(e[1],window)}:{key:t,parent:window}}var c=t("ee").get("jsonp"),f=t(24)(c);if(e.exports=c,o()){var u=/[?&](?:callback|cb)=([^&#]+)/,d=/(.*)\.([^.]+)/,p=/^(\w+)(\.|$)(. Ira Rennert Net Worth | Celebrity Net Worth But they have nothing on Fair Field, the Italianate estate Rennert finished building nine years ago in Sagaponack. console.log('PUB-GDPR-CHECK oneTrustCookie: ', oneTrustCookie); [citation needed] And in 1998, Doe Run sold $305 million in junk bonds for financing its Peruvian acquisition as well as more lead mines in Missouri (according to Doe Run filings with the SEC). Watch popular content from the following creators: Captiv8(@captiv8_official), Itsjennarennert(@itsjennarennert), Itsjennarennert(@itsjennarennert), Itsjennarennert(@itsjennarennert), Itsjennarennert(@itsjennarennert) . mps._queue.adview = mps._queue.adview || []; [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. [30] mps._queue.mpsloaded.push(function(){ if (typeof window === 'undefined') return; Rennert and his wife Ingeborg have made many charitable donations to various organizations. 'adunits' : 'Top Banner|Badge A|Badge B|Badge C|Badge D|Flex Ad First|Box Ad 1|Non Iframe Custom|Inline Custom|Movable Box Ad|Responsive Rectangle' , On January 14, 2011, the United States Court of Appeals sided with the EPA and upheld placing the site on the National Priority List. return; mps._queue.refreshads = mps._queue.refreshads || []; } They also gave over $1 million to the World Trade Center Memorial and established the Rennert Entrepreneurial Institute of Sy Syms School of Business at Yeshiva University. This page was last edited on 17 February 2023, at 14:42. (function() { Rennert took his graduation degree from Brooklyn College in 1954 and took his masters degree from New York Universitys Stern School of Business in 1956. Talk with you tax planner to see how much you can contribute to a SEP IRA for l2022. 'keywords' : '~' , We're assuming this based on the fact that he purchased apartments for his two daughters in January 2008 for more than $30. // } Ira Rennert - Biography (t&&t instanceof Function&&t.apply&&!t[a])}var o=t("ee"),i=t(22),a="nr@original",s=Object.prototype.hasOwnProperty,c=!1;e.exports=function(t,e){function n(t,e,n,o){function nrWrapper(){var r,a,s,c;try{a=this,r=i(arguments),s="function"==typeof n?n(r,a):n||{}}catch(f){p([f,"",[r,a,o],s])}u(e+"start",[r,a,o],s);try{return c=t.apply(a,r)}catch(d){throw u(e+"err",[r,a,d],s),d}finally{u(e+"end",[r,a,c],s)}}return r(t)?t:(e||(e=""),nrWrapper[a]=t,d(t,nrWrapper),nrWrapper)}function f(t,e,o,i){o||(o="");var a,s,c,f="-"===o.charAt(0);for(c=0;c He is at 148th spot in the Forbes 400 in 2016. 'title' : '1% Feuds: The Hampton Helicopter Spat' , In a rare victory, about 1,350 retirees will be paid in full for pensions that were cut when the Renco subsidiary they worked for . Create a book; Download as PDF; Printable version; In other projects. mps.__timer = Date.now ? let cEnd = document.cookie.indexOf(';', cStart); Today's Social Security column addresses questions about the effect of rolling a public pension over into an IRA, survivor's benefits and the earnings test and how military credits can be applied to benefit amounts. The Cost Of Battery Production Tax Credits Provided In The IRA, A Limited Return Of The Stretch IRA? [27] He also ranks #29 on The Jerusalem Post list of the World's 50 Richest Jews.[28]. The trial judge, Alison Nathan, later added interest. The environmental problems were not solved despite huge investment by Renco, and Renco never made any financial profit from its investment. var dynamic_yield_enabled = 1 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. The company has spent more than $3.5 million on defense lobbying and made a killing off the wars in Iraq and Afghanistan. Subscribe today and get a full year of Mother Jones for just $14.95. He was born to a Polish mother who emigrated from Poland at age 3 and a father who emigrated from Romania at age 13. [1], Rennert joined Renco Group in 2005, and was chief investment officer before becoming president in 2011. The holding company then sold $120 million in junk bonds, this time paying an additional $100 million dividend to Renco. 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. His purchase of AM General in 1992 was bought with a down payment of just $10 million. "[citation needed] In the first quarter of 2007, Doe Run met all of the National Ambient Air Quality Standards (NAAQS). Heres a step-by-step process you can start today. 'cag[attribution_author]' : 'Robert Frank' , } Reporting by Jonathan Stempel in New York; Editing by Chris Reese. let cStart = document.cookie.indexOf(`${name}=`); [8] Newspaper reports speculated that the Pension Benefit Guaranty Corporation had threatened to put a lien on Rennert's personal estate in order to ensure the steelworkers' benefits. Wikipedia; 'cag[template]' : 'story_simple' , His mother emigrated to the U.S. from Poland at age 3 and his father came from Romania at age 14. [15], In 2001, the Justice Department and EPA filed suit against Renco. 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! Ira Rennert basically is a self made investor. // }); cEnd = document.cookie.length; By signing up, you agree to our privacy policy and terms of use, and to receive messages from Mother Jones and our partners. 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