What is Isaac Perlmutter's Net Worth?
Isaac "Ike" Perlmutter is an Israeli-American businessman and financier who has a net worth of $5 billion. Isaac Perlmutter previously served as the chairman and CEO of Marvel Entertainment.
Perlmutter initially became involved with Marvel through Toy Biz, a toy company he co-owned. Toy Biz held a license to produce Marvel character toys, which was a crucial relationship for both companies. In the early 1990s, Marvel was diversifying and expanding aggressively, which included buying other companies and expanding its own product lines. However, this strategy eventually led to financial difficulties.
Marvel declared bankruptcy in 1996, which led to a complex and contentious battle for control of the company. Perlmutter and his business partner, Avi Arad, through their control of Toy Biz, were key players in this struggle. They proposed a plan where Toy Biz would merge with Marvel, effectively bringing Marvel out of bankruptcy. This plan was opposed by other stakeholders, notably Carl Icahn, a notable investor, leading to a protracted legal and corporate battle.
Eventually, Perlmutter's plan prevailed. In 1998, the merger was completed, with Toy Biz and Marvel forming a new company, Marvel Enterprises.
Perlmutter's tenure at Marvel saw the company's significant expansion into movies with the launch of the Marvel Cinematic Universe, which greatly increased the company's value. In 2009, The Walt Disney Company acquired Marvel Entertainment for about $4 billion.
Outside of his Marvel dealings, Ike is known for his often unorthodox business deals and his investments in such corporations as Revco, Remington, and Coleco Industries. Perlmutter also acted as an unofficial advisor in the Trump presidential administration, overseeing the US Department of Veterans Affairs.
Early Life
Isaac Perlmutter was born on December 1, 1942 in Mandatory Palestine, which six years later became Israel. He is Jewish. As a young adult, Perlmutter immigrated to the United States with just $250 in his pocket. Settling in New York City, he made a living by lending his Hebrew-speaking skills to funeral services at Jewish cemeteries in Brooklyn. Later, Perlmutter sold toys and beauty products on the streets, which eventually grew into selling surplus stock and end-of-line items.
Revco
With business partner Bernard Marden, Perlmutter formed the company Odd Lot Trading, a wholesaler and retailer of closeout items. The pair sold the company to Revco Discount Drug Stores in 1984 in return for 12% of Revco stock. Perlmutter and Marden went on to threaten a hostile takeover of Revco, but ultimately refrained. They subsequently sold their share back for $120 million.
Coleco
During his early business career, Perlmutter developed a close relationship with the management of the toy company Coleco, as he had frequently purchased its unsold inventory. He would buy the unsold inventory in exchange for 50% cash and 50% in advertising credits. In 1988, as Coleco struggled under debt due to competition from the increasingly popular personal computer, Perlmutter bought all of the company's senior debt, valued at $85 million, for a discount of $50 million. Coleco soon filed for Chapter 11 bankruptcy, and Perlmutter was sued by the company's management on allegations of fraudulent conveyance related to his advertising credits. Following a long negotiation, a settlement was reached that entailed the sale of Coleco to Hasbro for $85 million, with Perlmutter receiving $64 million in exchange for the withdrawal of the lawsuit.
Remington
In 1994, Perlmutter purchased controlling interest from Victor Kiam in the personal care brand Remington. He subsequently became the vice president of the company. In 1996, Perlmutter and Kiam sold Remington to the private equity firm Vestar Capital Partners.
(BRENDAN SMIALOWSKI/AFP via Getty Images)
Marvel
Perlmutter began his association with Marvel Entertainment in 1993, when he became a member of the company's board of directors. He then became chairman of the board, a position he held until 1995. Perlmutter also co-owned Toy Biz, which later became a subsidiary of Marvel. When Marvel Entertainment went bankrupt in 1996, Perlmutter was engaged in lengthy legal battles over control of the company. By the following year, he had established control alongside his business partner Avi Arad, pushing out Ronald Perelman and Carl Icahn. In 1998, Marvel merged with Toy Biz to bring it out of bankruptcy.
Perlmutter became the vice chairman of Marvel in late 2001, and in early 2005 became the CEO. He remained CEO after the company's acquisition by the Walt Disney Company in late 2009 for $4 billion, a deal that earned him $800 million in cash and $590 million in Disney stock. Perlmutter oversaw the development of the company's film and television production division, Marvel Studios, until 2015. Reportedly, he had clashed with studio head Kevin Feige and made racist comments about casting black actors. However, Perlmutter still continued working at Marvel until March of 2023, when he was laid off as part of a restructuring of the company.
Political Activity
Perlmutter has donated to the presidential campaigns of Republican candidates such as Marco Rubio and Donald Trump. He also served as an unofficial advisor in the Trump administration, overseeing the Department of Veterans Affairs with Bruce Moskowitz and Marc Sherman. Like Moskowitz and Sherman, Perlmutter was a member of Trump's Mar-a-Lago Club, and was reportedly appointed to the Department of Veterans Affairs as a reward for his loyalty to Trump.
Personal Life and Philanthropy
Perlmutter is married to Laura Perlmutter, whom he first met at a resort in the Catskills. They have no children. The two are significant contributors to the New York University Langone Health medical center, where they have established the Laura and Isaac Perlmutter Cancer Center and the Laura and Isaac Perlmutter Cosmetic Plastic Surgery Center. Elsewhere, the couple has contributed to the Innocence Project, which works to exonerate wrongly convicted individuals and reform the criminal justice system.
