Early Career
Murdock grew up in Montgomery Township, Ohio and dropped out of high school in the 9th grade. He was drafted by the U.S. Army in 1943 during World War II.
After relocating to Detroit after the war, Murdock was homeless and destitute. However, due to a chance encounter with a good samaritan, he got a $1,200 loan to buy a closing diner, flipping it for a $700 profit ten months later.
He moved to Arizona and began working there first in housing and then commercial real estate. When the real estate market collapsed in the 1960s, he moved to Los Angeles where he continued developing real estate opportunities, leading to a string of acquisitions.
In 1978, he acquired control of International Mining. In early 1980s, he became the largest shareholder in Occidental Petroleum by selling the company his 18 percent interest in Iowa Beef.
Read more about this topic: David H. Murdock
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