Tracinda To Sell Remaining Stake in Ford (F) -- What A Year For Kerkorian

What a year it has been for a billionaire who was once worth over $10 billion.

CNBC's David Faber reports that Kirk Kerkorian's Tracinda will sell its remaining stake in Ford (NYSE: F) to better focus on oil and gaming. Kerkorian still has a 6.09% stake in Ford or 133.5 million shares. Kirk Kerkorian's net worth in MGM Mirage (NYSE: MGM) has dropped from approximately $14 billion to $2 billion.

Kerkorian built up his Vegas properties by buying Steve Wynn's Mirage Resorts in $6.4 billion in 2000, then Mandalay Bay Resorts for $7.9 billion in 2004. MGM Mirage owns more than half the hotel rooms on the Las Vegas Strip. Now, his MGM is trading at prices below even those buyout prices. Well, at least Kerkorian can stay at more than half the hotels on the strip for free.

Faber said, but can't confirm, that Kerkorian has told people that he lived one year too long. This year has been extremely tough for Kirk has investments have dropped dramatically over the past 12 months.

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