Career
Of Russian descent, he was born in Baltimore, Maryland, one of nine children of grocers Morris and Mary Posner. Though he left school at age 13, he claimed to have earned his first million dollars by the age of 21 by investing in real estate, although financial records do not bear this out. Taking advantage of the post-World War II demand for housing in America, in 1948, he began to develop land and build houses in the Baltimore area and by 1952 was building more than 1,100 dwellings per year. In 1954 he moved to Miami Beach, Florida where he continued to invest in real estate and publicly traded companies. He became the head of numerous companies over his career, including Security Management Corporation (owner of rental property in Maryland and Florida), DWG Corporation (Arby's and Royal Crown), NVF Company, Sharon Steel Corporation, Pennsylvania Engineering Corporation, Salem Corporation, APL Corporation, Evans Products, Graniteville, and Southeastern Public Service Company.
Read more about this topic: Victor Posner
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