How A Homeless High Schooler Built America's Biggest Media Empire

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#entrepreneur #History #business
Link To Our Other Channel: / howmoneyworks
Written By: Sam
Video Created By:
Svibe Multimedia Studio
Editor: Cardan
Media Gatherer: Andrea Rivas
Footage Courtesy of: Getty Images
Music Provided By: Epidemic Sound
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Even if you’ve never heard of John Kluge, you’re definitely living in the world he created.
For a few years he was the wealthiest man in America - when he died his net worth was a
staggering $6.5 billion. That’s enough to buy the New York Knicks and still have enough
pocket change for a private island!
But the reason his legacy as a pioneering media mogul has flown under the radar for so long
is because he hated the showboating that’s so common in modern billionaires.
But Kluge knew education was going to be his key to success. He reasoned that he’d gotten
this far from what he could teach himself, then utilising a real education would take him to
great heights.
So he persuaded his step-father to let him attend high school for a single year - seriously
how many kids beg their parents to let them go to school!
Once that year was up, his step-dad forbade Kluge from attending school again so John did
the riskiest thing of his life: he ran away from home to make a name for himself.
So how did he do it?
It’s time to learn How History Works as we unearth the business wisdom of John Kluge: The
Richest Man That History Forgot.
Sources:
1. John Kluge, Jr., John Kluge Stories (New York: Columbia University Press, 2009)
2. northernvirginiamag.com/cultu...
3. web.archive.org/web/201510240...
4. www.britannica.com/topic/DuMo...
5. c250.columbia.edu/c250_celebr...
6. / why-laser-disc-was-way...
7. www.encyclopedia.com/social-s...
8. web.archive.org/web/200802092...
9. www.immigrantentrepreneurship...

[@HowHistoryWorks]

Visit drinktrade.com/howhistoryworks to sign-up and save $15 on select plans -- and get your first bag of coffee free.

[@raylopez99]

A nice man. Gave a lot to charity in the end, for example: "In 2001, Kluge donated his 7,378-acre (29.86 km2) estate in Albemarle County, Virginia to the University of Virginia. The estate, valued in excess of $45 million, was the largest gift in the university's history.[10] UVa has been holding classes and seminars in the various buildings and on the grounds of Morven Farm in an effort to incorporate the land grant into their various course offerings. Many developments are in the works to improve the farm and make it part of the landscape of Charlottesville."

[@michaelangelo6818]

I remember also playing marbles for keeps in my early school years, nothing hurts more than losing your favorite one, it will teach you lessons you'll remember for life

[@wgohere]

It's amazing how much opportunity was available for those willing to work for it in the US in those days. I wonder if a story like this would still be possible today?

[@HowHistoryWorks]

It's true it was probably less competitive back then, but there are still lots of people raising money every day to build the multi-billion dollar businesses of tomorrow.

[@elir5573]

Done every day

[@rajadarbha4961]

Ever heard of 1) Elon Musk, 2) Rihanna

[@the-fantabulous-g]

⁠@@rajadarbha4961Rihanna yes, Elon Musk was born with a golden spoon in his mouth.

[@jermainemyrn19]

Probably not. Much better back then. Today, most people are struggling

[@PXAbstraction]

It's crazy weird that this came out at the same time as Company Man's video about Ponderosa Steakhouse, which John Kluge and Metromedia owned for a while.

[@AHoboWithAStick]

I just stumbled onto that coincidence as well and had one of those “woah wtf” moments 😂

[@Yourmission9]

Seems like a billionaire with integrity. If he’s the same person I’m thinking of he donated so much he ended up a millionaire in the end

[@finnovator6565]

No, that’s Chuck Feeney, who got rich off duty-free stores in airports.

[@KC-Mitch]

2:35 "aboard the USS George Washington." _shows photo of Titanic_ 😂

[@utkarshkothimbire1484]

Thanks a lot for making this video.

[@diegolikescode]

such a great video, I love your content and your newsletter are the only worth of my time right now (and Morning Brew, although I like your style more)

[@HowHistoryWorks]

Glad you like them!

[@gregoryferraro7379]

Funny how his last name means "Smart Guy" in German. He seems to have lived up to his name!

[@Newsopathy-gf2ug]

Love the video. Which coffee machine do you use?

[@stephanebelizaire3627]

Bravo and Vivat !

[@Alpha-co3dp]

great video

[@davidglad]

I knew of him by one of those finance history books discussing him as the original management-led leveraged buyout, MBO, which he of course did lucratively. Otherwise this video is right on him keeping a low profile, unlike another video dedicated to his ex-wife who squandered a massive settlement on losing ventures. Including the wine business she started going to the Don.

[@mikitz]

This reminds me: you should definitely make a video on Timothy Dexter some day.

[@sourabhmayekar3354]

Nice

[@peanutbutterjellytme]

You should do a video on K.C. Irving

[@Blaqjaqshellaq]

The Irvings own half New Brunswick, the McCains own the other half!

[@AHoboWithAStick]

Yoooooo, I’ve never heard of this man’s until today but I just watched Company Man’s new video and he also talks about John Kluge buying Pondorosa and steak houses. Wack coincidence

[@ccubsfan94]

Probably the saddest thing, is his deal with the students. The school probaly got like 40 mil, and that means 200 studens a year get a scholarship. The univerisity puts it in an account to grow, and like 10% of the growth is spent on the students, while the other 90 is pocketed

[@sierrapyatt8748]

17:51-17:55 what a weird clip 😂

[@azangaming8684]

yea dude i tought the same

[@MCorpReview]

The company is famous but this is first time anyone mentioned the founder 😅

[@Joel_J779]

bro said fuck the east india company

[@JoeRogansForehead]

Funny, now the salaries don’t even cover expenses . That deal wouldn’t even work these days . Covering expenses would cost more than if they just paid him. Sad

[@maddog9213]

Mansa Musa

[@XMR02R]

"While the rest of the country was doing well.." Oh, really?

[@JoeRogansForehead]

They weren’t having tea with the teacher . The lawyers and judges were blowing her back out

[@AwesomeHairo]

10:56 Hah

[@JoeRogansForehead]

Paying for KZbin premium, still see ads

[@jimb1580]

Good info and video clips --- but the (artificial?) voice is delivering every single line with the same exact tonality and emphasis. UUUUGH! 😕

[@TheMafia24]

YOOOOOOOOOoO. Should I start a business??????

[@jedidiahmck]

Probably, NOOOOOOOOOoO

[@ry-zen]

are you bog?

[@luismiguel69able]

premium didnt skip his ad. So i stopped watching the video once that coffee ad started. Next.

[@jedidiahmck]

Congratulations!

[@absorbed_3969]

14 views in 3 minutes, he fell off

[@janpaulcurran9659]

Bro wdym😭😭😭

[@hyperionsama8114]

KZbin locks views in like that for abit at first. It’s a common thing… Look it up,

[@absorbed_3969]

@@hyperionsama8114 its a joke lol

[@iVETAnsolini]

Seeing everyone’s channels with this comment of late. It’s the new thing I guess

[@samatar1025]

6566 views in 6 hours (3600) = 18.2 views per minute

[@robertsontirado4478]

I don’t like this silly graphics.

[@adeliaadel2867]

🙏😊,, ny,, barack asia obama's

[@D33pEndR3cords]

Hay what was the song used in the beginning of the video, I must know my guy @HowHistoryWorks

[@legalise.nuclearbombs]

1:30 what the hell do you mean "while the economy was booming" ? In Germany ? After WWI ? Do your research my guy

[@sierrapyatt8748]

Yeah I was confused by that, too

[@AsgardVenture]

Golden 20s… for a few years the economy was indeed booming

[@user-vx8mj3ne5r]

There was a short period of prosperity before the famous inflation problems. The transition between the two made you know who seem prophetic once the economy turned. And then the usual history you know happens. But again, there was a very short period of prosperity between then and the war.

[@sourabhmayekar3354]

Nice