Charlie Ergen Biography
Charlie Ergen is an American businessman. He is the co-founder and current Chairman of Dish Network and EchoStar. He stepped down as CEO of Dish in May 2011 in favor of Joseph Clayton. Ergen resumed as CEO upon Clayton’s March 31, 2015 retirement and served as CEO until December 5, 2017, when he promoted President and COO Erik Carlson to CEO. He owns 48 percent of Dish: 6 and 46 percent of Echostar shares. :8 He holds 78 percent of DISH’s: 6 and 72 percent of EchoStar’s: 8 total voting power.
Charlie Ergen Age
Charlie Ergen was born on March 1, 1953, in Oak Ridge, Tennessee, United States. Charlie Ergen is 66 years old as of 2019.
Charlie Ergen Net Worth
Charlie Ergen acquires his net worth from his business investments and other organizations. He got many businesses and organizations that he manages. He got luxurious homes, cars and well up family. He got an estimated net worth of 15.5 billion USD.
Charlie Ergen Family
Charlie Ergen was born into the Episcopalian family in Oak Ridge, Tennessee, on March 1, 195 to Viola Ergen (mother) and William Ergen (father). 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”. :83 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.
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Charlie Ergen Wife
Charlie Ergen married Cantey Ergen, and they were blessed with five children. They both live with their children in The Village at Castle Pines, Colorado.
Charlie Ergen EchoStar
In 1980, Charlie Ergen and his future wife Cantey, and Jim DeFranco started a new business called EchoSphere Corporation, by 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, he elevated EchoStar’s profile by raising $335 million in junk 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.
Charlie Ergen Dish
Charlie Ergen 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 after it launched AutoHop, a technology that records broadcasting programming and plays it back without commercials.
He filed a suit seeking a declaratory judgment asserting the legality of the judgment. A 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. The dish is also looking for a partner to build a wireless network, with Google and AT&T speculated to be potential partners. Under Ergen, EchoStar and Dish Network acquired multiple companies, after an $8 million deal for 22 channel assignments of DBSC.
Charlie Ergen Litigation
Charlie Ergen has been involved in various significant lawsuits in which he was being involved which include: In 2013 and 2014, Harbinger Capital Partners, a hedge fund managed by Philip Falcone, sued Dish Network and Charles Ergen personally in federal court in New York City, alleging racketeering and claiming that Dish Network had illegally tried to take away the hedge fund’s control over LightSquared Inc. during its bankruptcy. In 2015, the federal court dismissed the suit. The Iron Workers Mid-South Pension Fund filed suit against Ergen in federal court in Colorado in September 2013.
Ergen bought large amounts of LightSquared’s debt at deep discounts while it was in bankruptcy. Ergen then made a personal bid of $2 billion to acquire LightSquared’s assets. This increased the price that Dish had to bid in order to acquire LightSquared’s rights to wireless spectrum. Indeed, Ergen ordered Dish to bid $2.2 billion on these assets. The suit claims this was a breach of Ergen’s fiduciary duties to Dish shareholders. Dish and Ergen prevailed in the litigation. In 2005, a discrimination lawsuit was filed against EchoStar in federal court in Denver by an employee who said that EchoStar had engaged in “hostile conduct” against her after she had a baby in 2001. The lawsuit was settled for an undisclosed amount in August 2005.
Charlie Ergen Awards
In June 1991, he was named the ‘Master Entrepreneur of the Year’ for the Rocky Mountain region by INC Magazine. Two years prior, he had been honored 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 honored a second time in 2001. He 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. He was in the 2012 class of inductees to the Consumer Electronics Hall of Fame.
Charlie Ergen Personal life
Charlie Ergen is the fourth of five children born to Viola (née Siebenthal) and William Krasny Ergen. He received a Bachelor of Arts from the University of Tennessee at Knoxville, where he was a member of Phi Gamma Delta Fraternity. and an M.B.A. from Wake Forest University. He was a professional blackjack and poker player. He is well known for his frugality. His office is furnished with second-hand couches and he does not fly first class.
He used to sign all the checks his company issued but currently signs only checks for $100,000 or more. His supporters call his negotiating style patient and prudent. He is married to Cantey (“Candy”) McAdam. He 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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