'I have been holding onto too many things': Billionaire Ron Perelman says he wants a 'less leveraged business life' and sells nearly everything he owns as the pandemic rocks his business empire
Billionaire Ron Perelman has revealed that he is parting ways with numerous assets that he no longer uses or even wants in order to live a more simpler life as the coronavirus pandemic continues to impact his business empire.
'I realized that for far too long, I have been holding onto too many things that I don’t use or even want,' the 77-year-old said in a statement.
'I concluded that it’s time for me to clean house, simplify and give others the chance to enjoy some of the beautiful things that I’ve acquired just as I have for decades,' he added.
Last month, Perelman released a statement to Vanity Fair, where he explained that he wanted a 'less complicated and less leveraged business life.'
That 'would allow me to focus on what I love most about MacAndrews & Forbes Inc, seek new investment opportunities, as well as allow me to have better and more present time with my family,' he said.
'A simpler life, with less running around and more time with my family, including homeschooling our youngest children, has energized me and taught me new things.
'For the future, I will spend my time more with my family and all my children, seeking new investment opportunities, and running our companies.'
The most recent talk of Perelman selling his assets came last week when it was reported that the affluent Revlon chairman is considering offers for his sprawling 57-acre estate in East Hampton.
The estate, dubbed 'The Creeks', is being offered for about $180million, sources told the New York Post.
A Perelman spokesperson told the publication that the luxurious estate, which sits right near Georgica Pond and is shrouded in privacy, was not for sale 'officially or unofficially'.
But brokers linked to wealthy clients have reportedly gotten indications from Perelman insiders that the property may be available as a 'whisper' listing.
'The Creeks,' is one of the largest estates in the Hamptons, which has an average household income estimated at $155,649 and a median household income of $100,474.
In East Hampton, the US Census reported that the per capita income in 2018 was $68,386.
The most recent talk of Perelman selling his assets came last week when it was reported that the affluent Revlon chairman is considering offers for his sprawling 57-acre estate in East Hampton (pictured)
The stunning estate which sits on the Georgica Pond is seen in this aerial shot. 'The Creeks,' is one of the largest estates in the Hamptons
Perelman has hosted a plethora of celebrities from Jon Bon Jovi to Jennifer Hudson at the estate for his annual Apollo in the Hamptons bash
People gather during a party at Perelman's house on Aug. 3, 2019 in East Hampton
Perelman has hosted a plethora of celebrities from Jon Bon Jovi to Jennifer Hudson at the estate for his annual Apollo in the Hamptons bash.
The floors are still splattered with paint drippings from the legendary artist Jackson Pollack from when 'The Creeks' was much more of an artists colony. Although noted for it's gorgeous exterior and appeal, the home took some damage two years ago when an attic fire sparked.
Perelman was not home at the time and, fortunately, no one was injured by the frightening inferno. The fire was contained to the third-floor of the home.
It appeared that Perelman's extensive art collection remained unscathed. His collection includes pieces by the famous Andy Warhol and sculptures from Jeff Koons.
A source told NY Post that there could be multiple reasons for the alleged home sale.
'He was sick and had an operation on his leg. Maybe this is part of estate planning. You just don’t know. But this is a pre-vaccine Covid market and the impact and reach of it is worldwide,' they said.
His daughter Samantha, from his second wife and Page Six editor Claudia Cohen, has also reportedly offered up her beautiful East Hampton mansion for $150million.
The estate, which is nestled on 8.5 acres, is where Samantha celebrated her 30th birthday and lived during the COVID-19 pandemic.
A Perelman spokesperson told the publication that the luxurious estate, which sits right near Georgica Pond and is shrouded in privacy, was not for sale 'officially or unofficially'
Chairman and CEO of MacAndrews & Forbes Holdings Inc, Perelman speaks at Revlon's Annual Philanthropic Luncheon in support of the Revlon Women's Health Mission in 2016
Perelman's extensive art collection included 'Danseuse dans un interieur, carrelage vert et noir' by Henri Matisse
The home has 'all the bells and whistles' like a tennis court, pool and spacious lawn, sources told NY Post.
'I was supposed to see it yesterday but it was raining — and it is way overpriced,' said one broker.
Perelman's supposed sale comes after the businessman continued to do away with his assets amid gossiping from Wall Street to Washington D.C. about the fairly recent decision.
He sold his enormous 70 per cent stake in Humvee maker AM General last July, in addition to his $37.3million auction for paintings by Joan Miro and Henri Matisse.
Perelman's private jet is grounded on a runway
Perelman's showy possessions include a large yacht
Perelman sought help from Goldman Sachs in 2019 to 'explore strategic alternatives' for Revlon's finances after $3billion in loans was due.
He's also reportedly considered to drop his 39 per cent share in Scientific Games, which provides gambling products to casinos, and Perelman has already sold The Independent, a popular East Hampton paper in June.
Meanwhile, Perelman's net worth has plummeted from $20million in 2018 to $4.55billion,NY Post reports.
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