Early Life
Kenny Troutt was born in Mount Vernon, Illinois, in 1946. He grew up in a modest household; his father was a bartender. Troutt was the eldest of three siblings. Growing up, Troutt had a strong desire to succeed, driven by a determination to overcome his family's financial challenges. He attended Mt. Vernon Township High School and later graduated from Southern Illinois University in 1971 with a degree in business administration.
Rise to Success
Troutt's career began in the telecommunications industry. In 1988, he co-founded Excel Communications with Steve Smith. Excel utilized a network marketing model, a strategy that proved highly successful. In 1996, Excel went public, becoming the youngest company to join the New York Stock Exchange. In 1998, Troutt sold Excel Communications to Teleglobe for $3.5 billion, solidifying his status as a billionaire.
Key Business Strategies
Excel Communications utilized a multi-level marketing strategy, which allowed the company to rapidly expand by recruiting and incentivizing independent representatives to sell long-distance phone services. Troutt's leadership and innovative business strategies were crucial to Excel's success, capitalizing on the growing demand for telecommunications services. Troutt's ability to identify and capitalize on opportunities in the deregulated telecom market played a significant role in his success.
Philanthropy
After achieving billionaire status, Troutt engaged in philanthropic activities and has contributed to charitable causes. The annual budget of the youth basketball team, the Texas Titans, for his sons, is $3 million. He and his wife have contributed to educational and religious organizations. Troutt is involved in horse racing and owns WinStar Farm, a thoroughbred horse farm.
