The Rise, Fall, and Resurgence of Dish Network's Charles Ergen: A $20 Billion Journey
Charles Ergen, the former richest person in Colorado and the 24th richest in the US, has seen his fortune plummet by 94% since 2015 due to the decline of his satellite TV business, Dish Network, in the face of streaming wars. Dish TV's subscriber base has fallen to 6.7 million from a peak of 14.1 million in 2010, causing the stock to drop by 93%. Ergen is now attempting to reverse his fortunes by merging Dish and EchoStar and transforming the business into a 5G wireless network operator. However, analysts remain skeptical about the long-term health of the business due to mounting debts and the need for additional capital.
