Meshulam Riklis

Meshulam Riklis was an Israeli-American businessman who pioneered the use of high-yield bonds and leveraged buyouts to acquire and restructure companies. He was born in Istanbul to a Russian-Jewish family and grew up in Tel Aviv, where he attended the Herzliya Hebrew Gymnasium. He served in the British Army during World War II and later moved to the United States in 1947 with his first wife, Judith Stern. He studied mathematics and finance at Ohio State University and worked as a junior stock analyst for Piper Jaffray. He started his business career by taking over American Colortype Company and Rapid Electrotype Company in 1956 and merged them into Rapid-American Corporation. He then embarked on a series of acquisitions, mergers, and divestitures that involved many well-known brands such as Elizabeth Arden, Fabergé, Samsonite, Playtex, Riviera Hotel and Casino, and Schenley Industries. He also founded Carnival Cruise Line in 1972 and sold it to Ted Arison for $1 in 1974. He established Riklis Family Corporation in 1980 as a private holding company for his assets and interests. He was married three times and had five children. He was also known for his marriage to actress and singer Pia Zadora, whom he supported in her entertainment career and allegedly influenced the Golden Globe Awards to give her a prize for her performance in Butterfly, a film he co-produced. He was also involved in philanthropic activities, such as donating to Ohio State University and establishing Beit Riklis in Jerusalem. He died in Tel Aviv in 2019 at the age of 95.