Early Life
Kenny Troutt was born in 1948 in Mount Vernon, Illinois. Growing up in public housing, Troutt experienced financial hardship. His father was a bartender. Despite these challenges, Troutt was determined to succeed.
Rise to Success
Troutt attended Southern Illinois University, supporting his studies by selling insurance. After graduating in 1971, he entered the telecommunications industry. In 1988, he founded Excel Communications, utilizing a network marketing model to rapidly grow the company. Excel became the fourth-largest long-distance carrier in the U.S. In 1998, Troutt sold Excel to Teleglobe for $3.5 billion, achieving billionaire status.
Key Business Strategies
Troutt's success stemmed from his innovative use of network marketing, which allowed Excel to expand quickly without traditional advertising. He focused on recruiting independent distributors who earned commissions on sales. This strategy, combined with the growing demand for telecommunications services, fueled Excel's rapid growth.
Philanthropy
Beyond his business ventures, Troutt has been involved in philanthropy, supporting various causes. He also owns WinStar Farm, a prominent thoroughbred horse farm that has achieved multiple successes in horse racing.