Surprising fate of CNN founder Ted Turner’s multibillion-dollar fortune after thrice-married father-of-five died aged 87
Ted Turner donated at least a third of his fortune to charity before he died on Wednesday.
The late CNN founder funneled at least $1.3 billion into various causes over the years, including a $1 billion pledge to the United Nations back in 1997.
He called the gift ‘the best investment I’ve ever made’ in a 2017 op-ed.
Turner further framed the organization as ‘humanity’s greatest hope for a better planet for my grandchildren and for people everywhere.’
Turner is survived by five children, 14 grandchildren, and two great-grandchildren. He was 87.
He also donated millions to conservation and education-related causes, including a trust to be split between Brown University, The Citadel and a Tennessee prep school.
The donations continued even after Turner lost 80 percent of his then-$10 billion fortune in 2002, following Time Warner’s disastrous merger with America Online.
‘I don’t measure success in numbers, but I consider my contributions of more than $1.3 billion to various causes over the years to be one of my proudest accomplishments,’ he wrote afterward in 2010.
At the time, the tycoon was part of an effort organized by Bill and Melinda Gates and Warren Buffett, which encouraged the world’s wealthiest to offer up at least half of their fortunes during their lifetime or in their wills.
Ted Turner – above, with then-ex-wife Jane Fonda at a benefit for the United Nations Foundation he helped create in 2013 – donated more than $1.3 billion of his personal fortune
The CNN founder died ‘surrounded by family’ on Wednesday. He was 87
It is unclear how much more money Turner gave away in subsequent years. An estimate from Forbes pegged his net worth at roughly $2.8 billion as of Wednesday.
He died ‘surrounded by family’, according to his company, Turner Enterprises.
The businessman was not married at the time of his death. He has been wed three times, including a decade-long union with Jane Fonda that ended in 2001.
Fonda – after also marrying three times – has since called Turner her ‘favorite ex-husband.’
She attended an event in honor of a charity she and Turner cofounded while together in November, where she told the audience: ‘Ted’s not here, but he is here in my heart, and I know he is here in a lot of our hearts.’
All of Turner’s children come from his first two marriages, to Judy Nye in the 60s, and Jana Smith Turner from 1965 to 1980.
Turner founded CNN in 1980. The station was the first 24-hour cable news channel in history and was widely credited with revolutionizing how Americans consume news.
He made billions over the next 20 years, while building up a cable and satellite empire and a lofty legacy not only in media but also in philanthropy.
He founded CNN in 1980. The station was the first 24-hour cable news channel in history and earned him billions of dollars
The businessman was not married at the time of his death but had three wives. Above, with Fonda, mere months before their 1991 wedding in Los Angeles
Turner with producer Mimi Bean and granddaughter Laura Elizabeth Seydel at the 2019 Turner Classic Film Festival in Hollywood
Turner’s wealth primarily sits in land ownership. He was the second-largest individual landowner in North America, with roughly two million acres of land spread across eight states.
The land is managed by Turner Enterprises. The company’s intent is to manage the land in ‘an economically sustainable and ecologically sensitive manner while promoting the conservation of native species,’ according to its website.
Turner’s cause of death was not immediately made available.
He was hospitalized with a mild case of pneumonia in June last year and had been suffering from Lewy body dementia.
