Ira Leon Rennert is an American businessman, the self-made billionaire Chairman and CEO of Renco Group, a private holding company with interests in steel, mining, magnesium, and military vehicles. Born in New York City, in 1934, to immigrant parents (Poland and Romania), he graduated from Brooklyn College in 1954 and earned a Master's degree from NYU Stern School of Business in 1956.

Rennert began his career as a credit analyst on Wall Street in 1956. His early financial career was controversial: his license was revoked by the NASD in 1964 for operating with insufficient capital, banning him from the securities industry. His strategy for building Renco was audacious: acquire all the shares of struggling industrial companies and finance the acquisition by issuing junk bonds (LBO model), often paying substantial dividends to himself along the way.

• Renco Group (Founder, Chairman & CEO): The core private asset, a holding company that owns industrial assets in steel (WCI Steel), mining (Doe Run), and military vehicles (AM General).
• Investment Strategy: He pioneered the Leveraged Buyout (LBO) model for acquiring struggling industrial companies and using junk bonds for financing.
• Financial Controversy: His securities license was revoked in 1964, effectively banning him from the securities industry.
• Environmental Controversy: His company's subsidiaries faced major issues regarding lead poisoning (Doe Run) and toxic emissions (Magnesium Corp.).

Ira Rennert founded the Renco Group in the late 1980s, acquiring major industrial assets like a Warren (Ohio) steel company (WCI Steel) and the U.S.'s largest magnesium producer (Magnesium Corp.). His genius was identifying undervalued, financially distressed industrial assets with high barrier-to-entry production capabilities (e.g., magnesium for bombs to bicycles).

His career is marked by controversy and massive legal challenges: he faced a multimillion-dollar judgment upheld against Renco for inappropriately diverting dividends from a bankrupt subsidiary (WCI Steel). His companies also faced intense scrutiny and lawsuits over environmental contamination (lead poisoning and toxic emissions) at plants in Herculaneum, Missouri, and La Oroya, Peru. His immense wealth is tied to the financial restructuring and continued profitability of his vast, often environmentally challenging, industrial assets.

Ira Rennert's social impact is structural, stemming from Renco Group's role as an industrial employer and foundational supplier of steel, magnesium, and military vehicles (including AM General, which produced the Humvee). His career is often cited for illustrating the high-leverage, extractive nature of some LBO strategies.

His personal philanthropy supports various educational and community initiatives. His structural contribution is tied to the financial restructuring of distressed industrial assets, albeit often amid significant labor and environmental disputes.

Ira Rennert maintains the professional, composed style of an industrial executive. His attire is consistently formal and high-quality, favoring tailored suits. His aesthetic reflects stability and immense financial power, often associated with his massive private residence in Sagaponack, New York.

Residing in New York City, his luxury is the immense security and financial reward derived from his multi-billion dollar fortune. His life is dedicated to industrial acquisition, financial restructuring, and the management of his complex, diverse conglomerate.