Charles Ergen Net Worth

Age, Biography and Wiki

💰 Net worth: $3.2 Billion (2024)

Charles Ergen, the esteemed Founder and Chairman of DISH Network in the United States, is renowned for his significant net worth. As of 2024, Ergen's net worth is estimated to reach an astounding $3.2 billion. His entrepreneurial journey began with the establishment of DISH Network, which grew into a dominant force in the television industry. With his remarkable business acumen and strategic vision, Ergen has successfully spearheaded the company's expansion and solidified its position in the market. Ergen's impressive net worth is a testament to his unparalleled contributions and unwavering dedication in revolutionizing the way Americans consume television services.

Some Charles Ergen images

Awards and nominations:

In June 1991, Ergen was named ‘Master Entrepreneur of the Year’ for the Rocky Mountain region by INC Magazine. Two years prior, he had been honoured with a Home Satellite TV Association Star Award. Ergen played a key role in fighting for American consumers’ rights to watch local television channels via satellite, which became a reality after the Satellite Home Viewer Improvement Act was passed in 1999. He has been an advocate of video competition issues and testified before the Congress, in this regard, on numerous occasions. He was recognized with a Rocky Mountain News’ Business Person of the Year Award in 1996, and honoured a second time in 2001.

Ergen also won the Frost & Sullivan 2001 CEO of the Year of the Satellite Industry. In 2000 he was named ‘Space Industry Business Man of the Year.’ Ergen was named one of the ‘World’s Best CEOs’ by Barron’s magazine in 2007. He was also mentioned in Forbes Magazine ‘Top Ten CEOs’ list. Ergen co-founded the Satellite Broadcasting and Communications Association.

Biography/Timeline

Ergen was born into an Episcopalian family in Oak Ridge, Tennessee, on March 1, 1953, the fourth of five children born to Viola (née Siebenthal) and william Krasny Ergen. His mother was one of the first female accountants in the state of Minnesota. His Father was an Austrian immigrant who was working in Sweden as a nuclear Physicist, and left Europe prior to World War II. His Father coined the phrase "China Syndrome". His parents married in Minnesota in 1944 and then moved to Camden, New Jersey, before settling in Oak Ridge where his Father accepted a position at the Oak Ridge National Laboratory. Ergen received a Bachelor of Arts from the University of Tennessee at Knoxville, and an M.B.A. from Wake Forest University. He was a professional blackjack and poker player.

In 1980 Ergen, his Future wife Candy, and Jim Defranco started a new Business called EchoSphere Corporation, investing $60,000 to purchase two C-Band antennas, targeting rural Colorado. They drove around the Denver metro area on a small budget, selling satellite dishes from the back of their truck.

In 1990 Ergen pushed EchoStar into the big leagues by raising $335 million in Jun K bonds and purchasing orbital slots for satellites. Two years later, EchoStar got a DBS license from the Federal Communications Commission, giving the company its own geostationary orbital slot. In 1993, EchoStar Communications was incorporated. Under Ergen, EchoStar’s net income doubled to $20.4 million, in 1993.

In June 1991, Ergen was named ‘Master Entrepreneur of the Year’ for the Rocky Mountain region by INC Magazine. Two years prior, he had been honoured with a Home Satellite TV Association Star Award. Ergen played a key role in fighting for American consumers’ rights to watch local television channels via satellite, which became a reality after the Satellite Home Viewer Improvement Act was passed in 1999. He has been an advocate of video competition issues and testified before the Congress, in this regard, on numerous occasions. He was recognized with a Rocky Mountain News’ Business Person of the Year Award in 1996, and honoured a second time in 2001.

Ergen also won the Frost & Sullivan 2001 CEO of the Year of the Satellite Industry. In 2000 he was named ‘Space Industry Business Man of the Year.’ Ergen was named one of the ‘World’s Best CEOs’ by Barron’s magazine in 2007. He was also mentioned in Forbes Magazine ‘Top Ten CEOs’ list. Ergen co-founded the Satellite Broadcasting and Communications Association.

Under Ergen, DISH was the first satellite provider to offer two-way high-speed internet access and the first to introduce a Digital video recorder in a set-top box. He was also instrumental in making satellite receivers available for under $200. In 2012, the Big Four Broadcasters, NBC, CBS, ABC and Fox filed a suit against Dish Network after it launched AutoHop, a Technology that records broadcasting programming and plays it back without commercials. DISH filed a suit seeking a declaratory judgment asserting the legality of the judgment. Preliminary injunction by Fox to block the Service was denied. Ergen has stated that DISH’s present focus is on acquiring a significant share of the spectrum for cellular wireless services. Dish is also looking for a partner to build a wireless network, with Google and AT&T speculated to be potential partners.

Ergen is perceived as being difficult and unpredictable in negotiations. AT&T attempted to acquire Dish only to have the deal fall apart at the last minute. In 2013, Ergen angered his counterparts in negotiations to acquire Sprint by making a direct bid for Sprint's Clearwire subsidiary. Dish later walked out of those negotiations. Ergen's supporters call his negotiating style patient and prudent.

With an estimated 2014 net worth of $17B, Ergen is reportedly the wealthiest person in Colorado.

He is married to Cantey ("Candy") McAdam. They have five children. They live in Littleton, Colorado. Ergen is an avid mountain climber who has scaled Mount Kilimanjaro, Mount Aconcagua in Argentina and Mount Everest base camp in Nepal. He is a member of the Colorado Mountain Club and has climbed all of Colorado’s 14,000-foot peaks. Besides mountain climbing, his interests include poker and pickup basketball.

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