Phillip Ruffin – Billionaire

Phillip Ruffin co-owns the Trump International in Las Vegas, and Ruffin has stayed a steadfast supporter of the president: “He’s an alpha male–in spades. He’s strong, competitive–extremely competitive. ” The real source of Ruffin’s wealth comes from another Vegas property: the Treasure Island Resort & Casino. He purchased it in 2009, near the bottom of the financial crash, for $755 million. It’s worth more than double that now. He’s made that kind of risky bet before. In 1998 Ruffin bought the Vegas Strip’s New Frontier Hotel & Casino for $165 million, then sold it for $1.2 billion nine years later to Israeli billionaire Yitzhak Tshuva. As a young man Ruffin dropped out of college to sell hamburgers with his buddies (“We were making more than lawyers”), then used the profits to buy convenience stores. From there he expanded into a variety of real estate: strip malls, office parks, and hotels, including Marriotts in Alabama, California and the Bahamas. Ruffin once beat out five other billionaires, including Ron Burkle, at a charity poker game.

Source:

1. forbes