Starting in 1968 future billionaire Kirk Kerkorian was a major investor in Western Airlines. Kerkorian had previously controlled Trans International Airlines, making his first fortune by selling it to insurance conglomerate Transamerica Corporation earlier in 1968. Kerkorian built a large stake in Western from 1968 to 1970 and took control of the board, reshaping management (including side-lining Drinkwater) and, among other changes, cancelling Western's orders for Boeing 747s, helping Western minimize the impact of the widebody-driven capacity glut of the early 1970s. He remained a power at Western until 1976, when he sold his remaining stock back to the company.
Starting in 1968 future billionaire Kirk Kerkorian was a major investor in Western Airlines. Kerkorian had previously controlled Trans International Airlines, making his first fortune by selling it to insurance conglomerate Transamerica Corporation earlier in 1968. Kerkorian built a large stake in Western from 1968 to 1970 and took control of the board, reshaping management (including side-lining Drinkwater) and, among other changes, cancelling Western's orders for Boeing 747s, helping Western minimize the impact of the widebody-driven capacity glut of the early 1970s He remained a power at Western until 1976, when he sold his remaining stock back to the company.