Reversal of Fortune

Huntington Hartford inherited The Great Atlantic and Pacific Tea Company, a 16,000 locations-strong national retailer akin to a modern-day Wal-Mart.

He’s more known, however, for squandering his fortune on a series of unfortunate investments. He bought what is now Paradise Island (that of Atlantis fame) and then sold it at a loss. He built the Gallery of Modern Art in New York City, and spent similarly large amounts trying to get his laggard magazine Show off the ground.

At one point, Hartford declared bankruptcy, but had a $500,000/year trust to keep him living the good life.

Yesterday, Mr. Hartford died at 97 years of age in the Bahamas.

Curiously, the man who successfully developed Paradise Island into what it is today, Sol Kerzner, has had just about the opposite life experience as the often failing Mr. Hartford.

Kerzner began life not as an heir but as the youngest of 4 children in a family of Jewish Russian immigrants. He put together a successful hotel chain, Sun International, and then got into development of gambling resorts. Since, he’s put together some of the most successful on earth, including Connecticut’s Mohegan Sun and Paradise Island’s Atlantis, in addition to building a luxury hotel portfolio with his One&Only hotels group (famous for their Cabo San Lucas resort of the same name).

He’s had 4 marriages, including former Miss World 1974 Anneline Kriel, and his current wife, the stunning Heather Murphy.

Great life for Mr. Kerzner, but quite the polar opposite of the first developer of Paradise Island, Mr. Hartford.

Just goes to show that it’s not about what straw you draw, it’s the fight inside you that determines your contribution in life.

A.& P. Heir Famous For Losing All His Money Dies At 97 – Luxist

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