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KIRK KERKORIAN

Net Worth: $10.6 billion -34%

Last Year: $16.1 billion

Age: 90 – Residence: Beverly Hills

Source of Wealth: Investments

The Money: Kerkorian stayed at the table too long last year and big 2006 Vegas winnings evaporated. The majority owner of MGM Mirage saw shares lose half their value as soft economy kept tourists home. Decline forced Kerkorian to turn to the Middle East and bring in Dubai World as an investor. Personally sold 10 million shares to the investors. Other holdings include 100 million shares of Ford recently acquired.

Buzz: Despite advanced age and the haircut he took last year, the billionaire investor still not slowing down. His 100 million shares of Ford gives him a 4.7 percent stake in struggling auto maker the third one he’s taken a run at. Made unsuccessful $4.5 billion low-ball bid for Chrysler in 2006, same year he acquired 9.9 percent of GM. Unloaded GM stake after board rejected his shakeup proposals, including Nissan alliance. Meanwhile, in Vegas, Kerkorian was in negotiations last year to purchase the MGM City Center development and Bellagio casino from MGM Mirage. Part of an attempt to reorganize the company in which he holds a 51 percent stake. Instead, Kerkorian brought in Dubai World as an investor in its casinos and $9 billion City Center project. Company also announced a joint venture with Kerzner International Holdings to develop 40 acres of land into a multibillion-dollar casino resort at the northern end of the Strip. Since 2000, Kerkorian has purchased Steve Wynn’s Mirage Resorts for $6.4 billion and the Mandalay Bay Resort group for $7.9 billion. MGM Mirage now owns more than half of the hotel rooms on the Strip. Kerkorian has been an active investor for decades. Bought and sold film studio Metro-Goldwyn-Mayer three times. In his youth was an amateur boxer and flew planes in World War II. Helped develop Caesars Palace.