Born in Chicago, Illinois, USA in 1928, Karl Eller is an entrepreneur and businessman best known for becoming one of the founding investors of the National Basketball Association (NBA) team, the Phoenix Suns. He has been in business since the 1960s and all of his efforts have helped make his fortune what it is today.
How rich is Karl Eller? As of mid-2017, Sources estimate a net worth of $ 400 million, mostly made through business success. He has worked with various companies and is considered one of the biggest names in the advertising industry. All of his accomplishments have secured the position of his wealth.
Karl Eller net worth of $ 400 million
Karl grew up in Tucson, Arizona, where he later attended the University of Arizona and played college football while there. After completing his studies, he focused on a commercial career.
Eller’s fortune grew over the years, and he made one of his major purchases in 1962 when he acquired the Arizona, Arizona-based businesses of Foster and Kleiser, an Arizona-based Billboard advertising firm based in New York. He expanded his purchasing department into a large regional company and enjoyed success over the next few years. Six years later he became one of the founding investors of the Phoenix Suns and led his own group of investors; he would also be responsible for hiring Jerry Colangelo as the team’s first general manager.
Eller then merged its advertising business with KTAR TV and Radio to form Combined Communications, Inc. The company would continue to grow, later adding Gannett in 1979. During the success of Combined Communications, they owned two Canadian outdoor advertising companies, two metropolitan dailies, 12 American outdoor advertising companies, 14 major metropolitan radio stations, and seven major metropolitan television stations, all of which significantly increased Karl’s fortunes.
He then became the head of Columbia Pictures and helped the company merge with The Coca-Cola Company in 1983. The convenience chain Circle K, which Eller managed for the next seven years, was added later, and Circle. helped K grows to become one of the largest convenience store companies in the US, adding more than 4,000 stores in 32 states. The chain also had venture stores in 13 other countries. In 1990, however, the company went bankrupt, which led to Karl stepping down as CEO of the company.
Thanks to his accomplishments, Eller was inducted into the Advertising Hall of Fame by the American Advertising Federation, only the second outdoor advertising director to be inducted and the first Arizonian. The University of Arizona College of Management is also named after him.
For his personal life, Karl is known to have been married to Stevie since 1952 and the couple are very active in charity in Arizona. He was also the head of the state’s Centennial Commission, which raised money for Arizona during the celebrations. In 2012, Karl was hospitalized after a bicycle accident in which he fell into a medically-related coma. He recovered after several months; he still lives in Phoenix with his wife.
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