Victor Posner Net Worth

What was Victor Posner's net worth?

Victor Posner was an American businessman who had a net worth of $600 million at the time of his death. Victor Posner passed away on February 11, 2002, at 83 years old.

Victor Posner was an American corporate raider and investor who rose to national prominence in the 1970s and 1980s as one of the most aggressive practitioners of hostile takeovers and asset stripping. He became infamous for pioneering the strategy of acquiring undervalued companies, installing himself as chairman, and then extracting value through massive dividends, pension fund raiding, and real estate deals that enriched him personally. At his peak, Posner controlled dozens of companies across industries including fast food, steel, homebuilding, and furniture. His personal fortune was estimated to be in the hundreds of millions, and his tactics helped shape modern corporate governance laws. But his career was also marked by scandal: he faced multiple SEC investigations, tax fraud charges, and corporate governance violations. He died in 2002 at the age of 83, leaving behind a legacy of wealth, controversy, and lasting influence on American business.

Victor's daughter Tracey Posner is married to "Batman" actor Burt Ward. Together, Burt and Tracey founded a dog charity called Gentle Giants Rescue and Adoptions. At any given time they take care of around 50 dogs of their own, plus hundreds of other dogs that are up for adoption. They operate a 15,000-square-foot dog shelter and produce a healthy dog food that has helped some animals greatly improve their health and lifespan.

Early Life and Business Foundations

Victor Posner was born in 1918 in Baltimore, Maryland. He dropped out of high school and got his start in business as a homebuilder, forming the company that would later become National Properties. By the 1950s, he had moved into commercial real estate and was acquiring large tracts of land in Florida. He relocated to Miami Beach, where he operated quietly as a successful land developer and amassed a growing personal fortune.

Posner's true rise began in the 1960s, when he discovered the power of publicly traded holding companies. He began buying up shares in small-cap, undervalued companies, gaining control of their boards and installing himself as chairman. Over time, this evolved into a highly structured corporate raiding strategy. One of his first major coups was taking over DWG Corporation, a holding company originally based in Ohio. Through DWG and other entities, Posner would go on to control or influence more than 40 public companies at various points in his career.

Corporate Raiding and Business Empire

During the 1970s and 1980s, Victor Posner became one of the most feared and financially successful corporate raiders on Wall Street. He specialized in hostile takeovers, often financing his deals with junk bonds or by leveraging the assets of the target companies themselves. Posner became known for stripping company assets, reducing workforces, selling off subsidiaries, and redirecting profits into dividends or insider-controlled real estate.

Among the companies Posner controlled or influenced were:

• DWG Corporation, which he used as his primary vehicle for holding other companies
• Shoney's (a restaurant chain)
• Royal Crown Cola
• Arby's
• Southeast Banking Corporation
• Evans Products Company (homebuilding and lumber)
• Birdsboro Steel
• McCrory Stores (a five-and-dime retail chain)

At one point, Posner reportedly sat on the board of more than 20 companies simultaneously and earned personal compensation exceeding $10 million per year — an astronomical figure at the time.

His investment style earned both admiration and criticism. Supporters said he unlocked value in stagnant companies. Critics accused him of enriching himself at the expense of employees, pension funds, and long-term shareholders. Posner's name became synonymous with corporate excess, and he was a central figure in the 1980s financial era dominated by figures like Carl Icahn, T. Boone Pickens, and Michael Milken.

Legal Troubles and Regulatory Scrutiny

Victor Posner's business practices eventually drew the attention of regulators. In 1987, the U.S. Securities and Exchange Commission barred him from serving as an officer or director of any public company due to widespread governance abuses. He was also forced to pay millions in fines and restitution for using corporate pension funds for self-dealing transactions.

In 1993, Posner pleaded guilty to tax evasion and agreed to pay $3 million in fines and back taxes. That same year, he lost control of DWG Corporation, which was taken over by a group led by businessman Carl Lindner. DWG would eventually evolve into what is now known as National Beverage Corp., the company currently chaired by Nick Caporella — who was brought in originally by Posner to run the company before breaking away and taking it public.

Personal Life and Legacy

Victor Posner was married once and had two children, including his son Steven Posner, who later became involved in his father's business dealings and had his own run-ins with the SEC. Victor lived for much of his later life in a lavish Miami Beach mansion. He maintained a reputation as a reclusive figure, rarely granting interviews and refusing to speak publicly about his wealth or tactics.

He died in 2002 from pneumonia at the age of 83. Though much of his empire had unraveled by the 1990s, Posner's impact on American corporate law and business remains significant. His aggressive tactics led to changes in securities regulation, pension fund protections, and board governance requirements.

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