Isaac Perlmutter

Isaac Perlmutter
Isaac Perlmutter
Born	December 1, 1945 (age 80); Mandatory Palestine
Occupation(s)	Entrepreneur, financier
Known for	Former chairman and CEO of Marvel Entertainment; investor in Revco, Coleco, Remington, Toy Biz/Marvel Toys; informal advisor to Donald Trump

Isaac "Ike" Perlmutter (; born December 1, 1945) is an Israeli-American billionaire entrepreneur and financier. Renowned for his unconventional business strategies, he has played a significant role as an investor in firms such as Revco drug stores, Coleco Entertainment, Remington, and Toy Biz/Marvel Toys. Perlmutter held the positions of chairman and CEO at Marvel Entertainment. He maintained a political connection with Donald Trump, serving as an informal advisor during Trump's administration and overseeing the Department of Veterans Affairs.

Early life

Born into a Jewish family in Mandatory Palestine in 1945, Isaac Perlmutter served in the Israel Defense Forces during the 1967 Six-Day War.

He relocated to New York City carrying only $250 and initially earned income by conducting funeral services outside Jewish cemeteries, utilizing his knowledge of Hebrew. Subsequently, he sold toys and beauty products on the streets before transitioning into trading surplus and clearance merchandise for profit. Without formal university education, he independently learned to interpret financial statements and developed expertise in recognizing value within struggling and distressed companies.

Revco

Together with Bernard Marden, Perlmutter established Odd Lot Trading, a wholesaler and retailer specializing in closeout merchandise. In May 1984, they sold Odd Lot to Revco Discount Drug Stores in exchange for 12% ownership in Revco stock. Perlmutter attempted to gain control over Revco's management but was ultimately unsuccessful. After threatening a hostile takeover, he and Marden sold their shares back to Revco for $120 million.

Coleco

Perlmutter maintained a close business association with Coleco Entertainment Corporation by acquiring unsold inventory under distinctive payment arrangements—paying half in cash and the other half through barter advertising credits (commitments to cover future advertising costs). Over four years, he obtained $144 million worth of goods, paid $73 million in cash, and issued $71 million in barter credits.

In 1988, as Coleco faced difficulties due to the emergence of personal computers affecting video game sales, Perlmutter purchased all of Coleco's senior debt with an $85 million face value for $50 million, thereby securing priority over bondholders during bankruptcy proceedings. Coleco filed for Chapter 11 bankruptcy that July. Bondholders filed suit against Perlmutter concerning the barter credits, accusing him of fraudulent conveyance. After negotiations, Coleco was sold to Hasbro Corporation for $85 million, and Perlmutter accepted $64 million for his $90 million claim (including principal and interest) in exchange for dropping the lawsuit.

Remington

In 1994, Victor Kiam transferred controlling interest in Remington Products to Isaac Perlmutter, who took on the role of Vice President. Kiam and Perlmutter later sold Remington to Vestar Capital Partners in 1996.

Marvel

Isaac Perlmutter joined the board of directors at Marvel Comics in April 1993 and served as chairman until March 1995. He co-owned Toy Biz (which later became Marvel Toys) alongside Avi Arad after acquiring its predecessor from Charan Industries in January 1990. Toy Biz was restructured during the Marvel transaction, with Perlmutter maintaining ownership through a holding entity named Zib.

Following Marvel's bankruptcy filing in 1996, Perlmutter and Arad secured control amid legal disputes involving Carl Icahn and Ronald Perelman. In June 1998, ToyBiz merged with Marvel to form Marvel Enterprises, with ToyBiz operating as a division.

Perlmutter was appointed vice chairman of Marvel in November 2001 and became CEO of Marvel Comics in January 2005. He continued as CEO after Marvel's acquisition by The Walt Disney Company in December 2009, receiving $800 million in cash along with $590 million worth of Disney stock; however, he did not join Disney’s board.

In September 2015, Perlmutter stepped back from overseeing Marvel Studios development when Disney reorganized management to place studio head Kevin Feige under the supervision of Alan Horn, chair of The Walt Disney Studios. This change responded to Feige’s dissatisfaction with Perlmutter and contentious decisions attributed to him, including recasting roles due to compensation disagreements. The restructuring coincided with Marvel Studios’ enhanced emphasis on diversity and inclusion. Nonetheless, Jeph Loeb, who managed Marvel Television and related series, continued reporting to Perlmutter until 2019.

In March 2023, amid Disney’s restructuring that integrated Marvel Entertainment more fully into its overall operations, Perlmutter was dismissed. He retained his Disney shares and supported Nelson Peltz’s unsuccessful attempt to join Disney’s board. After this proxy fight loss in April 2024, Perlmutter proceeded to sell all 25.6 million of his Disney shares over the subsequent months.

Philanthropy

In 1993, Isaac Perlmutter and his wife Laura established the Laura and Isaac Perlmutter Professorship in Cell Biology at the Skirball Institute of Biomolecular Medicine, which is part of the New York University School of Medicine. Since that year, Laura Perlmutter has been a member of the NYU Medical Center's Board of Trustees, with Isaac joining the board as a trustee in 2014.

The Perlmutter Foundation has provided substantial funding to NYU Langone Medical Center, including a landmark $50 million donation in 2014 to create the Laura and Isaac Perlmutter Cancer Center. Other notable gifts include $5 million to establish the Laura and Isaac Perlmutter Cosmetic Plastic Surgery Center, $9 million dedicated to cancer research at both NYU Langone and the Technion – Israel Institute of Technology, as well as $1 million supporting the Beatrice W. Welters Breast Health Outreach and Navigation Program at the medical center.

During the 2020 COVID-19 crisis, Isaac and Laura Perlmutter contributed to efforts that supplied roughly 50 tons of food to the Palm Beach County Food Bank. They also aided in providing meals for healthcare workers at Good Samaritan Medical Center, St. Mary's Medical Center, and five hospitals located in New York City.

The Perlmutters are also prominent backers of The Innocence Project, an organization committed to freeing individuals wrongfully convicted through DNA evidence and promoting reforms within the criminal justice system.

Political involvement

In 2015, Laura Perlmutter donated $2 million to a super-PAC supporting Senator Marco Rubio's bid for the presidency.

Isaac Perlmutter intended to contribute $1 million in January 2016 to Donald Trump’s veterans program hosted at Drake University. On June 30, 2016, Laura Perlmutter gave $449,400 to a political action committee supporting Trump’s campaign and subsequently participated in Trump’s Inauguration committee.

From 2019 through 2020, Ike and Laura Perlmutter contributed close to $1.9 million toward Trump’s presidential election efforts, including nearly $360,000 directed to the "Trump Victory Joint Fundraising Committee." In 2024, Isaac and Linda Perlmutter made a $10 million donation to the Right for America super-PAC backing Trump's campaign.

Leadership at the Department of Veterans Affairs

In April 2017, The New York Times identified Perlmutter as part of a group called "Clubgoers," consisting of twenty individuals whom President Trump consulted informally outside official White House channels. He provided advice on veterans affairs while maintaining a presence at Mar-a-Lago.

In August 2018, investigative nonprofit ProPublica disclosed that President Trump had unofficially empowered three Mar-a-Lago members—including Perlmutter—to exert influence over policies at the United States Department of Veterans Affairs (VA) and to direct Secretary Peter O'Rourke. Documents obtained through Freedom of Information Act requests revealed these individuals were in frequent contact with VA officials, overseeing policy decisions and personnel matters, initiating new programs, and hosting VA employees at Mar-a-Lago using taxpayer funds. VA staff criticized this arrangement as a spoils system favoring Trump supporters. This influence persisted into 2019.

Personal life

Isaac Perlmutter encountered his future wife, Laura J. Perlmutter, early on while working at a resort in the Catskills. They married shortly thereafter. The couple divides their residence between properties in Palm Beach, Florida, near Mar-a-Lago, and New York City.

Throughout his professional journey, Perlmutter was known for avoiding interviews despite the public scrutiny arising from legal conflicts and bankruptcy issues. Nevertheless, after his departure from Disney in 2023, he gave an interview to the Wall Street Journal. He continues to maintain a low public profile and is seldom seen in photographs.

Companies

Marvel Entertainment (former)
Marvel Studios (former)
Remington Products Company
Odd Lot Incorporated, discount retail chain
REC Sound Incorporated
Classic Heroes, Inc., majority shareholder, clothing manufacturing and distribution
Tangible Media
Westwood Industries, Inc., manufacturer and distributor of table and floor lamps
Zib, Inc.

External links