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

Avalon is opening a Wayne State University location

Avalon International Breads is opening a new 700-square-foot location inside Wayne State University's Mike Ilitch School of Business. Though the new store is geared toward students, the public will be able to access the space — which will have a cafe ...
Posted: June 12, 2018, 8:17 am

Detroit Tigers paying Miguel Cabrera because of Mike Ilitch's sentiment

Detroit Tigers paying Miguel Cabrera because of Mike Ilitch's sentiment Detroit Tigers' Miguel Cabrera is out for the season. While that hurts the lineup, it also hurts the bottom line due to his big, and length, contract. Check out this story on Freep.com ...
Posted: June 16, 2018, 9:26 pm

Ronald Ilitch found dead in Troy hotel

Ronald Ilitch, son of Detroit legend Mike Ilitch, was found dead in a Troy hotel on Friday. He was 61 years old. The cause of death is not yet known, as it will take time for completed autopsy reports due to toxicology tests that need to be completed ...
Posted: February 24, 2018, 9:03 pm
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