Ira Rennert

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Ira Rennert mansion as viewed from above

Ira Rennert (born 1934 in Brooklyn, New York) is a Humvee and Renco Group tycoon and supposed recluse whose beachfront home in Sagaponack, New York, is the largest occupied residential compound in America.

His 100,000 square foot (9,000 m²) home, dubbed Fair Field (named after the adjoining body of water, Fairfield Pond), faces the Atlantic Ocean and is perched on 63 acres. The buildings have an Italianate facade, 29 bedrooms, and 39 bathrooms. A dozen chimneys tower from the Mediterranean-style tile roof. The formal dining room stretches 91 feet in length. That’s three feet shorter than a basketball court—another amenity Fair Field has, along with a bowling alley, a pair each of tennis and squash courts, and a $150,000 hot tub, according to building plans and other documents filed with Southampton town hall. Its property taxes in 2004 were $392,610.24.

The house outraged locals, who claimed Rennert planned to use it as everything from a spa to a hotel to a religious retreat. He has denied such allegations. Ira Rennert was awarded the The Awful Truth Man of Year Award in 1999.

[edit] Renco Group

His company, the Renco Group, is essentially a holding group that owns other companies, such as WCI Steel, Doe Run, and used to own AM General, manufacturer of the legendary Hummer. Ira Rennert, bought AM General for $133 million in 1992. Ronald Perelman, a Wall Street corporate raider, bought a 70 percent interest in AM General of South Bend, Indiana. The deal reportedly cost close to US$1,000,000,000. The company makes the military Humvee, as well as the Hummer H1 and H2 sold by General Motors. The Renco Group has been criticized for their record on pollution and worker safety.