In 1954, he moved to Miami Beach, Florida, where he continued to invest in real estate and publicly traded companies.

[1] Posner's primary vehicle was the Deisel-Wemmer Co., a cigar manufacturer and importer based in Ohio, which was founded in 1884.

Another series of acquisitions started in 1948 with the Nathan Elson Company following with A. Sensenbrenner & Sons in 1955 and in 1956 Chicago Motor Club Cigar and Reading, Pennsylvania-based Yocum Brothers.

With the weakening of the cigar market due to medical advisories, many smokers switched to cigarettes, which were then believed to be safer.

The New York Stock Exchange delisted DWG in 1965, the company then sold their remaining cigar operations or closed them in 1966.

Posner also started selling off DWG assets: Foxcroft and Enro shirt groups and the citrus operation.

[2] Posner stopped the appointed directors from presenting their report to the full board forcing Judge Lambros to convert 50% of Security Management Company ownership in DWG to preferred shares and to sell the remaining common stock.

Posner resigned as chair of DWG in 1992 and sold his shares to Trian Group, a New York-based investment partnership led by Nelson Peltz and Peter May.

[2] In 1997, Triarc acquired Snapple Beverages from Quaker Oats, which had bought the company from leveraged buyout firm Thomas H. Lee Partners in 1994 for $1.7 billion.

[4] Cable Car Beverage Corporation, maker of Stewart's Root Beer and other flavors, was purchased by Triarc in November 1997.

[6] He was said by Forbes magazine to "have the arrogance of a banana republic dictator" and by The New York Times to be the "dean of the corporate takeover".

Previously unconsidered treasures, such as the employees' pension fund, would be raided and reinvested in Mr Posner's other companies.

It was intended to become a source of cash for additional investments to capitalize on the rising price of coal during the energy crisis of the early 1970s.

Meanwhile, the Fairmont coke plant was one of the worst polluters in the Monongahela Valley and Posner stopped investing in it.

In 1988, he pleaded no contest to tax evasion and fraud for inflating the value of land he donated to Miami Christian College in 1975.

He was ordered to pay more than $6 million in costs and fines and to devote 20 hours a week for five years to working with the homeless.

Posner was a party in a landmark Florida case involving the validity and permissible scope of prenuptial agreements.

[16] Shortly before he died, Posner prepared a new will that removed his children and grandchildren as heirs to his estate, which was valued between $200 million and $1 billion.

[14] The legal entanglements continued until the last lawsuit was settled on April 8, 2015, over the $195 million estate Posner bequeathed to Nestor.