Charlie Ergen Net Worth $16.7 billion
Charlie Ergen salary $2,000,000,000
Charlie Ergen Net Worth: How rich is Charlie Ergen? & How much money is Charlie Ergen worth? Time to find out!
Charlie Ergen is an American businessman and his current net worth is $16.7 billion.
Born in Oak Ridge, Tennessee, as the fourth of five children of Viola, and William Ergen, he grew up into an Episcopalian family.
His mother used to be one of the first female accountants in the state of Minnesota, while his father used to work in Sweden as a nuclear physicist.
Growing up he attended University of Tennessee at Knoxville, from where he received a Bachelor of Arts, and an M.B.A. from Wake Forest University.
In his youth, he used to be a professional blackjack and poker player. Now, he is an avid mountain climber who scaled Mount Kilimanjaro, Mount Aconcagua in Argentina as well as Mount Everest base camp in Nepal.
How did Charlie Ergen get famous?
As a member of the Colorado Mountain Club, his passions are, besides mountain climbing, poker and pickup basketball.
He is the co-founder and current Chairman of the Board, as well as former President and CEO of Dish Network and EchoStar Communications Corporation.
In the company, he owns about 52% shares, and holds 88% of its total voting power. In 2011 he stepped down as a CEO of the company, but had to come back in 2015.
How does Charlie Ergen make money?
His net worth is estimated around $16.7 billion in 2017, according to Forbes magazine, which makes him the richest man in Colorado.
In 1980 he began selling satellite dishes in rural Denver from the back of a truck, which became DISH Network, a billion-dollar company.
His is married to Cantey, Candy, McAdam, and have five children together.
Alongside his wife, Candy, and James DeFranco, they started a new business called EchoSphere Corporation, investing $60,000.
With the money, they bought two C-Band antennas and targeted rural Colorado. They used to drive around Denver on a small budget and sell satellite dishes from the back of their truck.
In the 1990s, Ergen pushed the company into big leagues by raising $335 million in junk bonds and buying orbital slots for satellites.
In 1992, the company received DBS license, giving them its own geostationary orbital slot.
Under his leadership, EchoStar’s net income doubled to $20.4 million, and after it became a part of EchoStar Communications.
Under Ergen, EchoStar and DISH acquired multiple companies, after an $8 million deal for 22 channel assignments of DBSC.
EchoStar purchased a 40% stake in Direct Broadcast Satellite Corporation (DBSC) in 1994. Then two years later he bought the remaining 60%.
EchoStar continued to acquire many other companies and expanded their range.
Under Ergen, DISH became the first satellite provider to offer two-way high-speed internet access. They are also the first to introduce a Digital video recorder in a set-top box.
He also insisted to make the satellite receivers available for under $200.
Now, the company is working on building a wireless network, with Google and AT&T speculated to be potential partners.
Charlie Ergen’s companies are for their use of legal tactics, winning several lawsuits.