- Elected to the Rock and Roll Hall of Fame in 1987 under the category Non-Performer.
- Brother, Nesuhi Ertegün, was elected to the Rock and Roll Hall of Fame in 1991 for Lifetime Achievement.
- Longtime chairman of Atlantic Records, which he co-founded with Herb Abramson in 1947.
- His father was the Turkish ambassador to the US.
- Presented with the Music Industry Trusts' Award in 2000 for his outstanding contribution to the British music industry.
- In August of 2005 he sailed his boat around the Mediterranean Sea.
- Founded, with Bert Berns (aka Bert Berns), Nesuhi Ertegün and Jerry Wexler, Bang Records (1965-82), which signed such artists as The McCoys, The Strangeloves and Neil Diamond.
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