Early Life
Kenny Troutt was born in Mount Vernon, Illinois, in 1948. Growing up, he faced financial difficulties as the son of a bartender, living in public housing. This early exposure to economic challenges instilled in him a strong work ethic and a drive to succeed. Troutt attended Southern Illinois University, where he supported his studies by selling life insurance.
Rise to Success
Troutt's career took off in 1988 when he co-founded Excel Communications with Steve Smith. The company utilized a multi-level marketing strategy to offer long-distance phone services. Excel experienced rapid growth, becoming one of the largest long-distance carriers in the U.S. Troutt took the company public in 1996.
Key Business Strategies
Excel's success was driven by its innovative use of network marketing, which allowed it to reach $1 billion in revenue faster than Microsoft. Troutt's leadership focused on building a strong sales force and expanding the company's customer base. In 1998, Troutt sold Excel Communications to Teleglobe for $3.5 billion.
Philanthropy
After selling Excel, Troutt invested in stocks, bonds, and thoroughbred horse racing. He is a major Republican donor. He also founded and funds the Texas Titans youth basketball teams, providing an unparalleled experience for young athletes.
