What is Frank Fertitta’s Net Worth?

Frank Fertitta III is a prominent American businessman, entrepreneur, and casino executive with a net worth of $3 billion.

As CEO of Station Casinos, Fertitta has established himself as a leading figure in the gaming industry.

He is also known for co-founding Zuffa LLC, which operates the Ultimate Fighting Championship (UFC) alongside his brother, Lorenzo Fertitta.

Under their leadership, the UFC became a major force in the world of mixed martial arts, and the Fertitta brothers were the majority owners of the organization until its sale to WME-IMG for $4 billion in 2016.

Early Life and Career

Frank Fertitta III was born in Las Vegas, Nevada on February 12, 1962. His father, Frank Fertitta Jr., was a casino executive who noticed that none of the Las Vegas casinos catered to local residents. In 1976, Frank Jr. built The Casino, which eventually became Palace Station.

Frank III attended Bishop Gorman High School in Las Vegas and graduated in 1980. He then attended the University of Southern California and graduated with a B.A. in Business Administration in 1984. Throughout high school and college, Frank III and his younger brother Lorenzo worked for their father at a Station Casino.

Frank Fertitta III: Career Highlights

Frank Fertitta III was named Officer and General Manager of Station Casinos in 1985, and later became President and CEO. He led the company through its first IPO in 1993, and helped it recover from bankruptcy in 2011, ultimately growing the company to 21 casinos.

In 2001, Frank III and his brother Lorenzo established Zuffa, LLC to buy the Ultimate Fighting Championship. Lorenzo became the CEO of UFC, which they ran until it was sold in 2016 for $4 billion.

In 2015, Frank III and Lorenzo filed with the SEC to take Station Casinos public again through an IPO. The new holding company, Red Rock Resorts, raised $531.4 million in its IPO in 2016. Lorenzo was named Vice Chairman of Red Rock Resorts in 2017.

Most recently, Frank and Lorenzo launched Fertitta Capital, a private investment firm, with an initial seed investment of $500 million.

Philanthropy and Family Life

Frank Fertitta III and his wife Jill have three children and reside in Las Vegas. The couple donated a substantial sum to the University of Southern California in 2012, resulting in the construction of a new building for the USC Marshall School of Business. They also established the Jill and Frank Fertitta Endowed Chair in Business. In 2016, Frank and his brother Lorenzo pledged $7.5 million each to establish the Fertitta Veterans Program at New York University’s Stern School of Business. This program aims to aid transitioning U.S. military veterans in attending business school. Additionally, the Fertitta family donated $10 million to UNLV to fund a football facility in 2016, named The Fertitta Football Complex.

Fertitta’s daughters, Kelley and Victoria, attended the University of Southern California and run a lifestyle blog called Wilson Gabrielle. In September 2018, Kelley got married at a lavish wedding held at Red Rock Resorts, which reportedly cost Fertitta $25 million. The event featured performances by John Mayer, Bruno Mars, and Seal. Kelley married Tyler Chad Nemiro, who is the director of enterprise sales at Shopify Plus and a graduate of the University of Southern California.

Frank and Lorenzo Fertitta Sell UFC for $4 Billion

In July 2016, the Fertitta brothers sold their combined 81% stake in UFC to Hollywood talent agency WME-IMG for $4 billion. The brothers initially bought their stake in 2001 for $2 million.

Real Estate Investments

Frank Fertitta purchased a six-bedroom duplex penthouse at 520 Park Avenue in Manhattan for $70 million in September 2017. The 9,138 square feet unit also includes 279 square feet of balconies/terraces, making it one of the most expensive units at the 54-story condo tower.

In June 2009, Fertitta acquired an oceanfront mansion in the guard-gated Emerald Bay community in Laguna Beach, California for $28 million.

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