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King is a son of a New York City real estate developer. He worked for his father's firm, King & Son, while attending the Columbia Business School, and officially joined the company in 1976. In 1979, he was given control of the company, renaming it King Investment Enterprises. King remains a major figure in American real estate.
King formally announced his candidacy for president in the 2012 election, as an Independent candidate. The media has speculated that he intends to run in the 2016 election but has yet to declare his candidacy.