183:." The strategy of vulture funds is to buy government debts at sharply reduced prices when weak governments are in crisis, and eventually force these governments to pay the full amount of the debt. Dart employed this strategy in 1994 by acquiring Brazilian debt instruments and eventually generating a profit of about $ 600 million.
143:
Dart
Enterprises is a group of companies that holds Cayman Islands real estate and operates businesses. In 1995, Ken Dart purchased the Coral Caymanian Hotel and is 236 acres of land which was developed into the town of Camana Bay. Other Ken Dart properties include the Ritz-Carlton, the Yacht Club,
190:, Ken Dart was part of a group of investors that held more than $ 8.2 billion in bonds and did not participate in a proposed exchange in 2012. Greek officials chose to repay Dart and other creditors in full for a total of €436 million. Dart received almost 90% of the initial payout.
848:
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and the
Kimpton Seafire Resort and Spa. Dart has his own construction company, Decco. Dart Interests is Ken Dart’s Dallas-based national real estate and development firm in the U.S..
93:(born 1955) is a Cayman Islands-based billionaire businessman. He is also a citizen of Belize and Ireland. His wealth was estimated in 2013 at US$ 6.6 billion. His family founded
128:. Kenneth took Caymanian, Belizean and, later, Irish citizenship. Robert holds Belizean and Irish citizenship, and resides in London. Kenneth Dart moved his residence to the
171:
of 1996, a tightening of U.S. tax laws concerning expatriates, was partially spurred by the Dart brothers' renunciation of their citizenship to avoid paying taxes.
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In 2012, a New York State judge ruled in favor of the holdout creditors ordering
Argentina to pay $ 1.3 billion and Argentina's appeal of the ruling at the
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was rejected in 2014. The rulings forced
Argentina to miss bond payments in July 2014, which caused the country to be declared in selective default by
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rejected
Argentina's restructuring offer in contrast to most other investors and brought their claim to the US court system. In response to Dart's
644:
700:
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and was named president in 1986. His brother Robert succeeded him in this role in 2001, when
Kenneth moved to the board of directors.
828:
704:
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224:, meaning that Argentina failed to meet some of their obligations while meeting others. By 2017, Argentina's new president
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209:, rebuked Dart's activities, while in the Argentinian press Dart was named "Enemy Number One of Argentina".
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with himself as its consul. This would have allowed him to live in the United States full-time as a foreign
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In 2021, Dart made a $ 6.7 billion bet on tobacco stocks, considered a contrarian move in regards to
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Ken Dart is an investor involved in various industries including real estate and finance.
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496:"Reed Offers Amendment to prevent Ex-Citizen Tax Dodgers from Reentering the U.S."
228:
settled with holdouts and was able to access the international capital markets.
782:"Secretive Billionaire Kenneth Dart Makes $ 6.7 Billion Bet on Tobacco Stocks"
132:
and converted what was the beachfront West Indian club into his home in 1994.
534:
299:"Report lists Michigan's wealthiest person, but doesn't tell the full story"
156:
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703:[Kenneth Dart: "Enemy Number One" of Argentina] (in Spanish).
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51:
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In the mid-1990s Dart and his brother, Robert, both renounced their
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with a degree in mechanical engineering in 1976. He then joined the
442:"Dart Interests plans two-tower development in downtown Fort Worth"
179:
Dart owns Dart
Management, "one of the best known of the so-called
675:"The vulture funds about to flap their wings for the last time"
419:"Dart: billionaire's business drives Cayman's development boom"
523:"Why Is a Secretive Billionaire Buying Up the Cayman Islands?"
258:"Why Is a Secretive Billionaire Buying Up the Cayman Islands?"
677:. Embassy of Argentina in Washington, D.C. Archived from
353:
97:, a food and beverage packaging company and the owner of
167:; the State Department rejected the arrangement. The
849:
University of
Michigan College of Engineering alumni
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72:
58:
43:
28:
21:
701:"Kenneth Dart, el enemigo numero uno de Argentina"
755:"Argentina Debt Outlook Improving, Moody's Says"
561:"Bet on Greek Bonds Paid Off for 'Vulture Fund'"
195:resolve the Argentinian financial crisis of 2001
854:People who renounced United States citizenship
233:Environmental, social and corporate governance
205:, the then Argentinian ambassador in the US,
151:. At that time Dart offered his residence in
8:
729:Argentina makes debt case in U.S. newspapers
591:"'Vulture funds' circle as Greek fears grow"
584:
582:
287:, bloomberg.com; accessed September 6, 2015.
741:Argentina rules to be in selective default
645:"Billionaire Hedge Funds Snub 90% Returns"
467:"The U.S. cracks down on rich tax evaders"
377:"The Darts: Fear, Loathing, And Foam Cups"
18:
743:, yahoo.com; accessed September 6, 2015.
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109:Kenneth “Ken” Dart was born in 1955 in
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84:Formerly Michigan's wealthiest person
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834:Caymanian people of American descent
618:"Greece:here come the vulture funds"
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824:Belizean people of American descent
417:Jonathan Kent (February 14, 2020).
155:, to the government of Belize as a
753:DeFotis, Dimitra (March 6, 2017),
465:Kathy M. Kristof (June 15, 2008).
147:In 1994, Dart became a citizen of
14:
589:Nathalie Savaricas (2012-05-17).
559:Landon Thomas, Jr. (2012-05-15).
256:Katy Lederer (October 18, 2019).
844:Irish people of American descent
643:Drew Benson (January 23, 2012).
375:Elizabeth Lesly (July 9, 1995).
440:Staff, T. R. D. (2023-02-17).
325:"Bloomberg Billionaires Index"
220:and in restrictive default by
113:. Ken Dart graduated from the
1:
699:Gustavo Sierra (2005-04-24).
297:Melissa Anders (2013-10-31).
193:In the prolonged attempts to
521:Lederer, Katy (2019-10-18).
163:avoiding any actions by the
780:Maloney, Tom (3 May 2021).
731:, yahoo.com, June 23, 2014.
616:Nick Dearden (2012-05-17).
494:, Senator (June 12, 2013).
32:1955 (age 68–69)
870:
119:Dart Container Corporation
67:Cranbrook Kingswood School
165:Internal Revenue Service
16:Billionaire businessman
829:Caymanian billionaires
381:Bloomberg Businessweek
188:Greek financial crisis
115:University of Michigan
63:University of Michigan
819:Belizean billionaires
235:related investments.
218:Standard & Poor's
105:Early life and career
681:on December 14, 2012
126:American citizenship
421:. The Royal Gazette
839:Irish billionaires
566:The New York Times
527:The New York Times
350:"Ken Dart profile"
91:Kenneth Bryan Dart
23:Kenneth Bryan Dart
471:Los Angeles Times
153:Sarasota, Florida
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707:. Archived from
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502:on June 17, 2013
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214:US Supreme Court
203:holdout strategy
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596:The Independent
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111:Mason, Michigan
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59:Alma mater
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36:Mason, Michigan
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671:Jorge ArgĂĽello
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649:Bloomberg News
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498:Archived from
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262:New York Times
242:
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226:Mauricio Macri
207:Jorge ArgĂĽello
176:
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169:Reed Amendment
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130:Cayman Islands
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95:Dart Container
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81:Known for
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76:Businessperson
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48:Cayman Islands
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814:Living people
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711:on 2014-04-13
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446:The Real Deal
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356:on 2014-02-08
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329:Bloomberg.com
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181:vulture funds
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786:. Retrieved
775:
764:, retrieved
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724:
713:. Retrieved
709:the original
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683:. Retrieved
679:the original
664:
652:. Retrieved
638:
627:. Retrieved
623:The Guardian
621:
611:
600:. Retrieved
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570:. Retrieved
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538:. Retrieved
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504:. Retrieved
500:the original
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476:February 22,
474:. Retrieved
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449:. Retrieved
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435:
423:. Retrieved
391:February 22,
389:. Retrieved
385:the original
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360:February 22,
358:. Retrieved
354:the original
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333:. Retrieved
331:. 2024-09-12
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303:. Retrieved
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265:. Retrieved
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809:1955 births
784:. Bloomberg
669:Ambassador
199:Paul Singer
197:, Dart and
186:During the
175:Controversy
44:Nationality
803:Categories
715:2014-04-09
685:2014-03-01
629:2014-02-26
602:2014-02-22
572:2014-02-26
540:2019-11-29
451:2024-09-30
335:2024-09-13
305:2014-02-22
239:References
136:Businesses
73:Occupation
535:0362-4331
492:Jack Reed
157:consulate
54:, Ireland
766:April 4,
760:Barron's
506:March 1,
425:April 3,
267:April 3,
161:diplomat
99:Solo Cup
654:July 4,
301:. mlive
285:Profile
705:ClarĂn
533:
149:Belize
52:Belize
788:7 May
790:2021
768:2020
656:2014
531:ISSN
508:2014
478:2014
427:2020
393:2014
362:2014
269:2020
38:, US
29:Born
805::
757:,
673:.
647:.
620:.
593:.
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