When it comes to successful American businessmen, Kenny Troutt is a name that should not be missed. He has been known for his expertise in the telecommunications industry, but there is more to him than just that. In this article, we will delve deeper into who Kenny Troutt is, his early life, his business ventures, and his philanthropic efforts.
Early Life and Education
Kenny Troutt was born on May 2, 1948, in Mount Vernon, Illinois. He was raised in Texas by his grandparents after his parents divorced when he was only four years old. Troutt attended Southern Illinois University and later transferred to the University of North Texas to pursue a degree in business administration. However, he dropped out of college to start his own business.
Despite not finishing his degree, Troutt's business acumen was evident from a young age. He started his first business at the age of 25, selling life insurance policies door-to-door. This experience would set him on the path to becoming a successful entrepreneur.
Business Ventures
Troutt's most notable business venture is arguably his co-founding of Excel Communications, a long-distance telecommunications company, in 1988. The company grew rapidly and became one of the largest long-distance providers in the United States. In 1996, Troutt sold Excel Communications to Teleglobe for $3.5 billion, making him a billionaire.
After selling Excel Communications, Troutt continued to invest in various business ventures. He co-founded the thoroughbred horse racing and breeding operation, WinStar Farm. The farm has produced numerous successful racehorses, including the 2010 Kentucky Derby winner, Super Saver. Troutt has also invested in real estate and the oil and gas industry.
Philanthropic Efforts
Despite his success in business, Troutt has never forgotten the importance of giving back. He has donated millions of dollars to various charitable causes, including education and healthcare. In 2007, Troutt and his wife, Lisa, donated $25 million to the University of Texas Southwestern Medical Center to establish the W.W. Caruth Jr. Scholar in Biomedical Research. The endowment supports research in the fields of neuroscience, cancer, and cardiovascular disease.
Troutt has also donated to education, particularly to his alma mater, the University of North Texas. In 2000, he donated $5 million to the university to establish the Kenny G. and Lisa L. Troutt Faculty Endowment to support faculty salaries and research. He has also donated to various other education initiatives, including charter schools and scholarships for disadvantaged students.
Conclusion
Kenny Troutt's success in the telecommunications industry and his philanthropic efforts have made him a prominent figure in the business world. His story shows that with hard work and determination, anyone can achieve success in their chosen field. Troutt's dedication to giving back to his community is also an inspiration to us all.
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