Charlie Ergen

Charles William Ergen (born March 1, 1953) is an American billionaire businessman and the is co-founder and chairman of Dish Network and EchoStar. He was CEO of Dish Network until May 2011, when he was succeeded by Joseph Clayton. Ergen resumed the role in March 2015 after Clayton's retirement, until December 2017, when Erik Carlson, then president and COO, was promoted to CEO.<ref name=steps/> Ergen remains chairman of the company.<ref name="Reuters17">Template:Cite news</ref> Ergen owns 48 percent of Dish<ref name=echo/>Template:Rp and 46 percent of Echostar shares,<ref name=echo/>Template:Rp which gives him 78 percentage of Dish's<ref name=echo/>Template:Rp and 72 percent of EchoStar's<ref name=echo>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>Template:Rp total voting power.

Early career

After graduating with an M.B.A. from Wake Forest in 1976, Ergen worked as a financial analyst for Frito-Lay. He "retired" in 1978 in hopes of working for himself.<ref name=Cutthroat-84>Template:Cite book</ref><ref name="gardner">Template:Cite news</ref> Afterward, he was a professional gambler, playing poker and blackjack.<ref name=Cutthroat-84/><ref name="Ramachandran15">Template:Cite news</ref>

EchoStar

{{#invoke:Labelled list hatnote|labelledList|Main article|Main articles|Main page|Main pages}} In 1980 Ergen, his future wife Candy, and Jim DeFranco started a new business called EchoSphere Corporation, investing $60,000<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> to purchase two C-Band antennas, targeting rural Colorado. They drove around the Denver metro area on a small budget, selling satellite dishes from the back of their truck.<ref name="Echostar">Template:Cite press release</ref>

In 1990 Ergen elevated EchoStar's profile by raising $335 million in junk bonds and purchasing orbital slots for satellites. Two years later, EchoStar got a DBS license from the Federal Communications Commission, giving the company its own geostationary orbital slot. In 1993, EchoStar Communications was incorporated. Under Ergen, EchoStar's net income doubled to $20.4 million, in 1993.<ref name="Echostar"/>

Dish

{{#invoke:Labelled list hatnote|labelledList|Main article|Main articles|Main page|Main pages}} Under Ergen, Dish was the first satellite television provider to offer two-way high-speed internet access as an investor in and dealer for StarBand Communications' geostationary Ku-band satellite internet access service in the United States and the first to introduce a Digital video recorder in a set-top box. He was also instrumental in making satellite receivers available for under $200. In 2012, the Big Four Broadcasters, NBC, CBS, ABC and Fox filed a suit against Dish after it launched AutoHop, a technology that records broadcasting programming and plays it back without commercials. Dish filed a suit seeking a declaratory judgment asserting the legality of the judgment. Preliminary injunction by Fox to block the service was denied. Ergen has stated that Dish's present focus is on acquiring a significant share of the spectrum for cellular wireless services. Dish is also looking for a partner to build a wireless network, with Google and AT&T speculated to be potential partners.<ref name="Dish">Template:Cite magazine</ref><ref name="Federal court">Template:Cite press release</ref><ref name="Autohop">Template:Cite news</ref>

Under Ergen, EchoStar and Dish Network acquired multiple companies, after an $8 million deal for 22 channel assignments of DBSC.<ref name="Hughes">Template:Cite press release</ref><ref name="Alpha">Template:Cite press release</ref>

Litigation

Various lawsuits in which Ergen has been involved include:

• In 2013 and 2014, Harbinger Capital Partners, a hedge fund managed by Philip Falcone, sued Dish Network and Charles Ergen personally in federal court in New York City, alleging racketeering and claiming that Dish Network had illegally tried to take away the hedge fund's control over LightSquared Inc. during its bankruptcy. In 2015, the federal court dismissed the suit.<ref>{{#invoke:citation/CS1|citation

|CitationClass=web }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

• The Iron Workers Mid-South Pension Fund filed suit against Ergen in federal court in Colorado in September 2013. Ergen bought large amounts of LightSquared's debt at deep discounts while it was in bankruptcy. Ergen then made a personal bid of $2 billion to acquire LightSquared's assets. This increased the price that Dish had to bid in order to acquire LightSquared's rights to wireless spectrum. Indeed, Ergen ordered Dish to bid $2.2 billion on these assets. The suit claims this was a breach of Ergen's fiduciary duties to Dish shareholders.<ref name="fraud">{{#invoke:citation/CS1|citation

|CitationClass=web }}</ref> Dish and Ergen prevailed in the litigation.

• In 2005, a discrimination lawsuit was filed against EchoStar in federal court in Denver by an employee who said that EchoStar had engaged in "hostile conduct" against her after she had a baby in 2001.<ref name="SEXDISC">Template:Cite news</ref> The lawsuit was settled for an undisclosed amount in August 2005.<ref>{{#invoke:citation/CS1|citation

|CitationClass=web }}</ref>

Personal life

Ergen was born into an Episcopalian family<ref name=Viola>Template:Cite interview</ref> in Oak Ridge, Tennessee, on March 1, 1953,<ref name="resume"/> the fourth of five children born to Viola (née Siebenthal) and William Krasny Ergen.<ref name=Cutthroat/><ref>Weatherford Mortuary: "Viola Siebenthal Ergen" Template:Webarchive May 21, 2013</ref> His mother was one of the first female accountants in the state of Minnesota.<ref name=Viola /> His father was an Austrian immigrant who was working in Sweden as a nuclear physicist, and left Europe prior to World War II.<ref name=Cutthroat/> His father coined the phrase "China syndrome".<ref name=Cutthroat>Template:Cite book</ref>Template:Rp His parents married in Minnesota in 1944 and then moved to Camden, New Jersey, before settling in Oak Ridge where his father accepted a position at the Oak Ridge National Laboratory.<ref name=Viola /> Ergen graduated from Oak Ridge High School. He then received a Bachelor of Arts from the University of Tennessee at Knoxville, where he was a member of Phi Gamma Delta fraternity,<ref name="Yahoo">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> and an M.B.A. from Wake Forest University.<ref name="dishboard">Template:Cite press release</ref> He was a professional blackjack and poker player.<ref name="Yahoo"/><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Ergen is well known for his frugality. His office is furnished with second-hand couches and he does not fly first class.<ref name="Frugal">Template:Cite news</ref> Ergen used to sign all the checks his company issued but currently signs only checks for $100,000 or more.<ref name="Yahoo"/> Ergen's supporters call his negotiating style patient and prudent.<ref name="NegStyle">Template:Cite news</ref>

He is married to Cantey ("Candy") McAdam. They have five children.<ref name=forbes>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> They live in The Village at Castle Pines, Colorado.<ref name="resume">Template:Cite magazine</ref>

Wealth

Ergen first appeared in the Forbes 400 list in 1999 at the age of 46, with a net worth of US$4.8 billion and was ranked 36th in the list,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> as Dish share price rose more than 702.1% from 1 January 1999 to 31 December 1999.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> He was also the third richest person in Colorado at that time. In 2000, Ergen first appeared in The World's Billionaires by Forbes and having a net worth of $11.2 billion, making him the 21st richest person in the world.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Net worth and ranking of Charles Ergen from 2000 to 2023 according to The World's Billionaires.

Year	Net Worth	Rank
citation	CitationClass=web }}</ref>	$11.2 billion	#21
citation	CitationClass=web }}</ref>	Template:Decrease $8.8 billion	Template:Decrease #35
citation	CitationClass=web }}</ref>	Template:Decrease $6.2 billion	Template:Decrease #42
citation	CitationClass=web }}</ref>	Template:Decrease $5.9 billion	Template:Decrease #45
citation	CitationClass=web }}</ref>	Template:Increase $9.1 billion	Template:Increase #34
citation	CitationClass=web }}</ref>	Template:Decrease $7.2 billion	Template:Decrease #55
citation	CitationClass=web }}</ref>	Template:Decrease $6.7 billion	Template:Decrease #80
citation	CitationClass=web }}</ref>	Template:Increase $10 billion	Template:Increase #62
citation	CitationClass=web }}</ref>	Template:Decrease $9.5 billion	Template:Decrease #87
citation	CitationClass=web }}</ref>	Template:Decrease $3.9 billion	Template:Decrease #146
citation	CitationClass=web }}</ref>	Template:Increase $5.2 billion	Template:Decrease #148
citation	CitationClass=web }}</ref>	Template:Increase $7 billion	Template:Increase #136
citation	CitationClass=web }}</ref>	Template:Increase $8.3 billion	Template:Increase #106
citation	CitationClass=web }}</ref>	Template:Increase $10.6 billion	Template:Increase #100
citation	CitationClass=web }}</ref>	Template:Increase $15 billion	Template:Increase #65
citation	CitationClass=web }}</ref>	Template:Increase $20.1 billion	Template:Increase #43
citation	CitationClass=web }}</ref>	Template:Decrease $12.2 billion	Template:Decrease #77
citation	CitationClass=web }}</ref>	Template:Increase $18.3 billion	Template:Increase #47
citation	CitationClass=web }}</ref>	Template:Decrease $13.4 billion	Template:Decrease #106
citation	CitationClass=web }}</ref>	Template:Decrease $9.6 billion	Template:Decrease #143
citation	CitationClass=web }}</ref>	Template:Decrease $5.4 billion	Template:Decrease #304
citation	CitationClass=web }}</ref>	Template:Increase $9.6 billion	Template:Increase #241
citation	CitationClass=web }}</ref>	Template:Decrease $8.7 billion	Template:Steady #241
citation	CitationClass=web }}</ref>	Template:Decrease $3.2 billion	Template:Decrease #905

Ergen appeared on the Forbes 400 list every year from 1999 until 2022, but he was dropped in 2023.<ref name=F2023></ref> On November 6, 2023, Dish Network's and EchoStar share price plunged 37.43%<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> and 31.28%<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> respectively after both companies reported earnings below analysts' expectations and a decline in subscriber numbers.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> As a result, Ergen lost $786 million in a day, causing his net worth to drop from $1.6 billion to $857.6 million, marking the first time in nearly 25 years that he lost his billionaire status.<ref name=F2023></ref> However, as of November 2024, Forbes estimates his net worth at $2.5 billion.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Recognition

Ergen was recognized with a Rocky Mountain News' Business Person of the Year Award in 1996, and honoured a second time in 2001.<ref name="Entrepreneurs">Template:Cite press release</ref><ref name="Unplugged">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Ergen co-founded the Satellite Broadcasting and Communications Association.<ref name="Entrepreneurs"/><ref name="Unplugged"/> In 2012, Ergen was inducted into the Consumer Electronics Hall of Fame.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

External links

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