Terrance Watanabe was born in 1962, in Omaha, Nebraska USA, and is a businessman and entrepreneur, perhaps best known to the world as the former owner and CEO of the trading company Oriental Trading, which supplies merchants with arts and crafts, school supplies, toys and novelties among other items. However, he is also somewhat notorious for squandering a sizeable fortune in a relatively short period of time.
Have you ever wondered how rich Terrance Watanabe is, as of late 2017? According to authoritative sources, it has been estimated that Watanabe’s wealth is as high as $150 million, an amount earned through his successful career, although recent legal proceedings suggest that this amount may be somewhat over-stated.
Terrance Watanabe Net Worth $150 Million
Terrance is of Japanese ancestry; the son of Harry Watanabe, founder of the Oriental Trading, which was started as a gift shop in Omaha, Nebraska, in the early ‘30s. Unfortunately, there is no information about Terrance’s growing up and education as well.
He assumed the position of the President and CEO in 1977, as was traditional in Japanese families when the eldest son reached 15. Terrance didn’t actually assume control until 1982, but even then at age 20 one might consider the potential problems. However, Terrance actually then changed the firm’s operations for the better, switching from carnivals to supplying party goods for churches, schools, retailers and individuals. At one time, his company was garnering net profits of over $300 million per year, largely increasing Terrance’s wealth.
That was all very well, but close observers of Terrance and his lifestyle noticed that it was literally ‘all work and no play’, so something had to give. This happened after he decided to sell his firm in 2000, and soon after that effectively retired. He did actually lead a relatively peaceful life for a time, focusing on his family, but Terrance fell into a downward spiral, and became an alcohol and eventually a gambling addict. Unfortunately, Terrance is neither a serious nor talented gambler, and ultimately became infamous for managing to lose an estimated $200 million plus over one year in 2007, in Las Vegas casinos, even though some casino owners attempted to save him from himself, by effectively banning him. Regardless, his situation eventually led to a two-way law suit with Hannah’s Casino, which ended in an undisclosed settlement, with the casino freezing all dealings with the now almost bankrupt gambler.
Regarding his personal life, aside from his gambling problems, there is no information about Terrance’s most intimate details. Most recently he is reported to have entered into the rehabilitation process for his gambling and alcohol addictions. One can only hope that it’s not too late!
