Biography
Vesco was born in Detroit, Michigan, where he grew up and attended, and then dropped out of, Cass Technical High School. Vesco was the son of a Detroit autoworker. He dropped out of engineering school while he was in his early twenties to go to work for an investment firm. After a short period he struck out independently with an $800 stake matching buyers and sellers in the aluminum market, until he eventually acquired a portion of the profits of a floundering aluminum plant. By 1965, he was in a position to borrow enough money to acquire International Controls Corporation. Through aggressively hostile expansions and debt-financed takeovers of other businesses he grew ICC quickly. By 1968 the company owned an airline and several manufacturing plants, and Vesco held shares totaling US$50 million.
Read more about this topic: Robert Vesco
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