The television industry mogul
John Kluge has evolved as one of the most popular television industry moguls in the recent years of America. He was born in Chemnitz, Germany on the 21st of September, 1914 and immigrated along with his family to the United States as a little child. He earned his bachelor’s degree in Economics from the Columbia University in 1937. He had also been a student of the Wayne State University prior to joining the Columbia University.
During the middle of the last century, Kluge purchased stocks of the Metropolitan Broadcasting Corporation. This was his first venture in to the media industry as well as his first step towards becoming a millionaire. This Corporation was basically preceded by the DuMont Television Network and the Corporation comprised of two stations. The WABD located in the New York City and the WTTG located in Washington, D.C. today, both these DuMont outlets operates as independent stations. He emerged as the largest stockholder which was worth $6,000,000. He rechristened the company’s name to Metromedia and later in 1986; he sold off the television stations to the 20th Century Fox. The company’s worth is currently an estimated $4 billion.
The Forbes Magazine declared John Kluge as one of the richest men in America. Kluge is also an avid philanthropist. He took an active initiation in the creation of the John W. Kluge Center at the Library of Congress and donated a whopping $60 million.