Through his company Mac Andrews & Forbes Incorporated, he has invested in various companies with interests that encapsulate groceries, cigars, licorice, makeup, cars, photography, television, camping supplies, security, gaming, jewelry, banks, and comic book publishing.Perelman annually is one of the world's largest philanthropic donors.
In 1978, twelve years after Perelman formally joined Belmont Industries, he was the vice president but he still strove for more power and influence in the company.
Raymond told him that he had no intention of stepping down anytime soon. The two barely spoke to one another for the next six years.
He orchestrated the purchase of Cohen-Hatfield Jewelers in 1978, his first deal as an independent investor free of his father's influence.
He recognized the enormous value of Hatfield's mismanaged jewelry cache and bought control of the company with a $1.9 million loan from his wife, Faith Golding.
Within a year, Perelman had sold all of company's retail locations and reduced the company to its lucrative wholesale jewelry division, earning him $15 million.
His next target was Mac Andrews & Forbes, a distributor of licorice extract and chocolate.The management and investors repeatedly rebuffed his efforts to purchase the company and filed an unsuccessful lawsuit to prevent the acquisition, but Perelman prevailed.Perelman's first major business deal took place in 1961 during his Freshman year at the Wharton School at the University of Pennsylvania.He and his father bought the Esslinger Brewery for 0,000, then sold it three years later for a million profit.Throughout Perelman's tenure at the Belmont Iron Works (later renamed Belmont Industries) he assisted his father on many other deals, earning millions of dollars in the process.Their general strategy was one Perelman would follow for the rest of his life: Purchase a company, sell off superfluous divisions to reduce debt and generate profit, bring the company back to its core business, and either sell it or hang onto it for cash flow.