“There is no doubt about it,” affirms Maheu. Most historians agree that it was Dietrich who transformed Hughes from a wealthy man to a billionaire. In Los Angeles, Hughes met Noah Dietrich, a former race-car driver turned accountant, and hired him in 1925. By the time it was over, Hughes owned all stock in the company and had alienated his entire family. Not content to be the majority stockholder in a family business, he tried to buy his relatives’ stock. Instead, he dropped out and announced his plans to take over his father’s tool company. His uncle, Rupert Hughes, and the rest of his extensive family expected the orphaned 18-year-old to finish Rice University. The first bit that could easily penetrate solid rock, it revolutionized oil drilling, and made Hughes and Sharp rich. The Hughes fortune is based on a drill bit patented in 1909 by Howard Hughes Sr. “I have had the heads of large corporate entities tell me they would never have thought of coming here before Hughes came.” Maheu, who spent 13 years working for Hughes. “He cleaned up the image of Las Vegas,” said Robert A. If one of the richest men in the world, one of the nation’s largest defense contractors and a genuine national hero, was willing to invest in Las Vegas, it must not be such a sordid, evil place after all. Just by showing up, Hughes changed Las Vegas forever. Mob activity declined during Hughes’ four years in Las Vegas, partly because he bought out many of the old-timers, but more because the federal government was turning up the heat. He would de-mob Las Vegas, make the city safe for legitimate business. The eccentric billionaire, it was speculated, was on a mission. The good news came when billionaire Howard Hughes arrived quietly and began buying casinos and real estate. The bad news was that mobsters were skimming Las Vegas casinos. The year 1966 brought Las Vegas bad news, and good news.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |