Early Life and Education
Lorenzo Joseph Fertitta was born on January 3, 1969, in Las Vegas, Nevada. He and his older brother Frank Fertitta III were raised in Las Vegas after their father, Frank Fertitta Jr., moved the family from Texas in 1960. Frank Fertitta Jr. started as a dealer at the Stardust Casino and later moved into management positions. In 1976, Frank Fertitta Jr. built The Casino, a 5,000-square-foot establishment that catered to Las Vegas residents; it was later renamed Bingo Palace and then Palace Station. Lorenzo Fertitta graduated from Bishop Gorman High School in 1987. He earned a Bachelor of Business Administration from the University of San Diego in 1991 and an MBA from New York University's Stern School of Business in 1993.
Rise to Success
After his father's retirement in 1993, Lorenzo, along with his brother Frank III, led Station Casinos to its first IPO that same year. In 2001, the Fertitta brothers established Zuffa, LLC, and acquired the Ultimate Fighting Championship (UFC) for $2 million. Lorenzo Fertitta served as chairman and CEO of the UFC, working to establish a unified rule set for MMA competitions. Under his leadership, UFC secured broadcasting deals with major channels, transforming the sport into a global phenomenon. In 2016, Fertitta sold UFC to WME-IMG for an estimated $4 billion.
Key Business Strategies
Lorenzo Fertitta's success is attributed to several key strategies. Firstly, his willingness to take calculated risks is evident in the acquisition and transformation of UFC. Second, his ability to identify and capitalize on emerging market opportunities, like the local Las Vegas casino market created by his father, has been critical. Finally, his focus on building strong teams, illustrated by his partnership with Dana White, has allowed him to execute his vision effectively.
Philanthropy
Lorenzo Fertitta is actively involved in philanthropy. He supports Bishop Gorman High School, as well as the University of Nevada, Las Vegas (UNLV). In September 2016, the Fertitta family made a $10 million donation to UNLV to fund a football facility, now known as The Fertitta Football Complex. Fertitta is also a supporter of veterans and active-duty students, having made contributions to the Lone Survivor Foundation, the Fisher House, and the Intrepid Fallen Heroes Fund. In 2016, he and his brother established the Fertitta Veterans Program at NYU Stern.
