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Larry King - Career & Financial Facts

Trivia questions about Larry King. Personal financial and career trivia facts about TV news journalist Larry King.1. Larry King started working as a janitor and gopher at a Miami Beach radio station in 1957. He first went on the air when one of their announcers quit without notice. Source

2. Even though Larry King was doing better and better at his career in the 1960s he was terrible at managing his money. He often got calls at the radio station from creditors looking for payments. Page 80 Source

3. When he was 37 Larry King lost his job and was couple hundred thousand dollars in debt. By May 1972 he only had $42 left in cash and no job. Page 107 Source

4. Feeling depressed King spent all the money he had at the race track, except for the $2 he would need to pay the valet, while having lunch with a friend. He found one particular horse he liked and made several bets on the race. He won and collected $8,000.00. With his winnings he paid his child support for an entire year, bought 20 cartons of cigarettes, and stocked his refrigerator. Page 109 Source

5. Larry King was making $100,000 a year in radio when he was approached by Ted Turner of CNN who offered him a 3 year contract paying $200,000 in year one, $225,00 in year two, and $250,000 in year three. Page 127 Source

6. By 1989 Larry King was making about $800,000 a year. His contract was up and Ted Turner offered him $1.5 million per year. Page 164 He would eventually be paid a base salary of $7 million a year, with stock options and other bonuses that can bring him an additional $7 million. Source 1   Source 2

7. Larry King lost $2.8 million in a Ponzi scheme run by Bernard Madoff. Page 240 Source

8. King established a $1 million scholarship program for aspiring journalists from disadvantaged backgrounds. Source

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