Phil Ruffin is a name that resonates with success, resilience, and a touch of flamboyance in the world of business and entertainment. Born on March 14, 1935, in Potter County, Texas, Ruffin’s journey from humble beginnings to becoming a billionaire is nothing short of inspiring
1
.
Ruffin’s early life was marked by hard work and determination. Raised in Wichita, Kansas, he was the son of a grocer and one of four siblings
1
. His entrepreneurial spirit emerged early on, and by the age of 18, he was already selling hamburgers to make ends meet
2
. This venture laid the foundation for his future success in the business world.
In 1972, Ruffin pioneered self-serve gasoline in Kansas, creating a chain of 60 convenience stores across the Midwest
1
. His knack for identifying and capitalizing on business opportunities didn’t stop there. In 1987, he used the profits from his convenience stores to build his first hotel, a Marriott in Wichita
1
. This marked the beginning of his foray into the hospitality industry.
Ruffin’s big break came in 1998 when he purchased the New Frontier Hotel and Casino in Las Vegas for $165 million
1
. He later sold it for a staggering $1.2 billion in 2007, making it one of the largest per-acre prices in the history of the Las Vegas Strip
1
. This success cemented his reputation as a savvy investor and deal-maker.
One of Ruffin’s most notable acquisitions was the Treasure Island Hotel & Casino in Las Vegas, which he bought from MGM in 2009 for $775 million during the Great Recession
2
. His ability to see potential where others saw risk has been a hallmark of his career. In 2019, he added another gem to his portfolio by purchasing Circus Circus and the Las Vegas Festival Grounds from MGM for $825 million
3
.
Ruffin’s business ventures extend beyond hotels and casinos. He is also involved in oil production, real estate, and even owns one of the world’s largest manufacturers of hand trucks
1
. His diverse portfolio and keen eye for profitable investments have contributed to his net worth, which is estimated to be around $4.7 billion as of January 2025
2
.
Phil Ruffin’s personal life is as colorful as his business ventures. He is married to Oleksandra Nikolayenko, a former Miss Ukraine, and the couple has two
وجهتك للاخبار الجديدة