Mike Ilitch Net Worth is$1.6 Billion
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Profession: Entrepreneur, Businessperson
Date of Birth: Jul 20, 1929
Country: United States of America
Mike Ilitch was born in Michigan and has an estimated net worth of $1.6 billion dollars. A businessman and entrepreneur, Mike Ilitch founded the national chain, Little Caesar's Pizza, and also owns the Detroit Red Wings and the Detroit Tigers. He also formed and owned the Detroit Caesars, a successful softball team that played throughout the 70s.
Michael "Mike" Ilitch Sr. (July 20, 1929) is an American entrepreneur, founder and owner of the international fast food franchise Little Caesars Pizza. He owns both the Detroit Red Wings of the National Hockey League, and Detroit Tigers of Major League Baseball.
Ilitch has been at the center of Detroit's downtown redevelopment efforts, purchasing and renovating the Fox Theatre and relocated his business headquarters there. A first generation American of Macedonian descent, he is married to Marian Bayoff Ilitch.
A graduate of Cooley High School, Mike Ilitch entered the U.S. Marine Corp for four years. After his return home to Detroit, the Detroit Tigers offered him $3000 if he would sign to play baseball, and Ilitch had a three-year minor league career before he was forced out of his playing career due to a knee injury. After leaving baseball, Ilitch started a pizza business. With the help of his wife, Marian, the Ilitches opened Little Caesars Pizza Treat in Garden City, Michigan, the first of what would become many thousands of restaurants through franchising.
Today, the family's entities remain privately held. In 1999, the Ilitches established Ilitch Holdings, Inc. to provide their various enterprises with professional and technical services. They hold the titles of Chairman and Vice Chairwoman, respectively. The combined total revenues for these enterprises in 2007 reportedly exceeded $1.8 billion. Mike Ilitch had fallen off Forbes Magazine's annual list of the "400 Richest Americans," but in 2006 he returned to the list at #242. As of 2010 he rose to #238 with an estimated net worth of $1.7 billion.
Marian Ilitch reportedly divested herself of any personal interest in the Detroit Tigers organization in 1998 to pursue interests in Detroit's emerging casino gambling industry. She acquired a significant interest in the Motor City Casino and, in 2005, purchased sole controlling interest. She independently pursues other gambling interests, doing business

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Mike Ilitch Latest News

Detroit Tigers remain in baseball's top tier in Ultimate Standings but manager Brad Ausmus ranks low

Meanwhile, off the field, the Tigers have a powerful combination of committed ownership (fans appreciate that 87-year-old Mike Ilitch is still passionately pushing his team to win and ranked him 28th in ownership), rabid fan base and sizable market ...
Posted: October 20, 2016, 9:17 pm

Tigers eye younger, less expensive team for 2017

Payroll limits will be worked out between Tigers owner Mike Ilitch and general manager Al Avila. But even ahead of a firm number, it is the clear understanding by Tigers brass player salaries will shrink from this year’s nearly $210 million. Thus ...
Posted: October 13, 2016, 1:51 am

Tigers new game plan: Invest further in advanced analytics

After the season, Tigers General Manager Al Avila met with team owner Mike Ilitch to discuss plans for 2017. What emerged was a consensus to pare back the spending on players while still trying to contend. "We certainly want to be able to try to get back ...
Posted: October 23, 2016, 5:30 am
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