Robert Edward Turner III (born November 19, 1938) is an American entrepreneur, television producer, media proprietor, and philanthropist. He founded CNN, the first 24-hour cable news channel, and WTBS, which pioneered the superstation concept.
Turner donated $1 billion to create the United Nations Foundation and co-founded the Nuclear Threat Initiative. His media empire began with his father’s billboard business and expanded to Turner Broadcasting and CNN. Turner also owned the Atlanta Braves and WCW, and is a major environmental advocate and landowner.
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Table of Contents
Ted Turner Net Worth
Ted Turner has a net worth of $2.2 billion. In his divorce from Jane Fonda, he reportedly paid over $100 million in cash and stock, including stock in his company before its merger with AOL.
Fonda also received several real estate assets, including a 2,500-acre ranch. However, this is a small portion of Turner’s vast portfolio. He is the second-largest landowner in the U.S., owning around two million acres, enough to ride a horse from Canada to Mexico without leaving his property.
Early life
Robert Edward Turner III was born on November 19, 1938, in Cincinnati, Ohio, to Florence and Robert Edward Turner II, a billboard magnate. The family moved to Savannah, Georgia, where he was raised as an Episcopalian.
Turner attended Brown University, where he was vice-president of the Brown Debating Union and captain of the sailing team. Expelled for having a female student in his dorm, he later received an honorary degree from Brown. He joined the U.S. Coast Guard Reserve to avoid the Vietnam draft, serving in Charleston and Fort Lauderdale.
Career
After being expelled, Ted Turner took over his father’s billboard business and expanded it into a successful venture. He later purchased WTCG, a UHF station, and transformed it into TBS, broadcasting shows like I Love Lucy and Star Trek.
In 1978, Turner founded CNN, the first 24-hour news network. He also acquired MGM’s film library and created Turner Classic Movies. Turner purchased World Championship Wrestling in 1988 and merged Turner Broadcasting with Time Warner in 1996, where he remained as vice chairman until 2006.
Personal Life
Ted Turner has been married and divorced three times: to Judy Nye (1960–1964), Jane Shirley Smith (1965–1988), and actress Jane Fonda (1991–2001). He has five children. His son, Robert Edward “Teddy” Turner IV, ran for South Carolina Republican primary in 2013, finishing 4th.
In 2010, Turner joined The Giving Pledge, committing to donate most of his fortune to charity. Turner has openly discussed his struggles with mental illness and lithium use and was diagnosed with Lewy body dementia in 2018.
Does Ted Turner still own TNT?
Ted Turner no longer owns TNT. The network, along with TBS, CNN, TCM, Cartoon Network, and Adult Swim, is now part of Warner Bros. Discovery. David Zaslav, CEO of Warner Bros.
Discovery, acknowledged Ted Turner’s transformative impact on the media industry. Turner revolutionized the broadcasting landscape by launching CNN, the first 24-hour news channel, and creating the superstation concept with TBS, which reshaped television programming and broadcasting.
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Conclusion
Ted Turner’s net worth reflects a legacy of bold moves and pioneering strategies in the broadcasting industry. His visionary leadership at CNN and his dedication to various philanthropic causes have left an indelible mark on the world.
FAQs about Ted Turner’s Net Worth
1. How did Ted Turner accumulate his wealth?
Turner’s wealth largely stems from his ventures in the broadcasting industry, including CNN and TBS, as well as his successful management of his father’s billboard business.
2. What is Ted Turner’s most successful investment?
CNN stands out as Ted Turner’s most successful investment, revolutionizing news media and establishing a 24-hour news cycle.
3. How has Ted Turner’s net worth been affected by his philanthropy?
While Turner’s philanthropy, including a $1 billion donation to the United Nations, may have reduced his net worth, it also solidified his status as a globally respected philanthropist.
4. Has Ted Turner’s approach to business changed over the years?
Turner’s business approach has evolved from aggressive expansion and risk-taking in his early years to a focus on environmental conservation and philanthropy in his later years.
5. What is Ted Turner’s financial legacy?
Turner’s financial legacy is two-fold: a testament to the profitability of media and entertainment, and a blueprint for using wealth to advance humanitarian and environmental causes.
