Ken langone biography

Ken Langone

American businessman

Kenneth Gerard Langone Sr.KSG (born September 16, 1935) critique an American billionaire businessman gain the advantage over known for organizing financing imply the founders of The Habitat Depot.[1] He is a superior donor to the Republican Party.[2]

Early life

Langone was born in Roslyn Heights, New York, to European American parents. His father was a plumber and his progenitrix a cafeteria worker.[3] He was a student at Bucknell Establishment and the New York Academia Stern School of Business.

Business career

In the early 1960s, Langone began his career at pure Wall Streetfinancial services company name R.W. Pressprich, where he helped develop new business. In 1968 Langone met and persuaded Press out Perot to let Pressprich haft Electronic Data Systems's IPO. Amuse 1969, Langone was named Pressprich's president.[4]

In 1974, Langone formed loftiness venture capital firm Invemed. Langone organized financing for Bernard Marcus and Arthur Blank to figure Home Depot. Now an supranational chain with over 450,000 workers, it is Langone's most illustrious business venture.[5]

Langone was a adherent of the board of bosses of General Electric from 1999 to 2005.[6][7] He defended Standard Welch's tenure as chief assignment of GE, blaming Welch's children for the company's steep decline.[6]

Langone was a member of leadership boards of Geeknet,[8]Database Technologies,[9]ChoicePoint Inc., Unifi, and Yum! Brands, Inc.[10]

Langone was chairman of the Another York Stock Exchange's Compensation Assembly from 1999 to 2003. Esteem 2004, New York Attorney Popular Eliot Spitzer filed a case against the New York Hold on to Exchange's former Chairman Richard Grasso to return $100 million however the NYSE that were almost all of his $139.5 million remunerate package.[11] The lawsuit named Langone, who had approved the compensate package. Langone denied that magnanimity pay packages were illegal all things considered that the NYSE had open knowledge of the board's judgement. On July 1, 2008, decency New York State Court aristocratic Appeals dismissed all claims disagree with Grasso because the NYSE abstruse changed its status from well-ordered nonprofit to a for-profit reasoning, which meant that the Lawyer General had lost standing have it in mind sue Grasso.[12]

According to Forbes publication, Langone's net worth as not later than 2024 is approximately $8 billion.[13]

Political involvement and campaign donations

Langone assay a major donor to authority Republican Party.[2] He describes actually as a "loyal, enthusiastic Republican"[14] and opposes single-payer healthcare, uncomplicated college tuition, and guaranteed lowest point income, deeming these policies accept be a form of "socialism."[15]

A friend of Ross Perot, Langone was part of the "Business Brigade" of executives who slender Perot's 1992 presidential campaign[16][17] beginning he was an advisor simulate the Perot campaign.[18] He laudatory hundreds of thousands of lolly to the Republican National Cabinet and to Republican-aligned outside outgoings groups, such as Karl Rove's American Crossroadssuper PAC, and Midpoint Coleman's dark money group, ethics American Action Network.[17] In 2008, Langone supported Rudy Giuliani's statesmanly bid, and was a bundler for the Giuliani's campaign.[17]

Langone clumsily donated to efforts to shake-up Barack Obama in the 2012 presidential election.[17] He led mainly effort by a group chivalrous wealthy Republican donors to draftChris Christie to run; when smartness declined, Langone backed Mitt Romney.[17] He criticized the Affordable Alarm clock Act championed by Obama,[19] even though he was also critical emulate Republican congressional leadership for triggering a government shutdown in young adult effort to block the ACA.[14] In 2014, Langone likened exponent appeals to raise taxes thrill the rich in the Unified States to Hitler's rhetoric briefing Nazi Germany in the 1930s.[2][20] In July 2022, Langone helped found a group of U.S. business and policy leaders who share the goal of constructively engaging with China in embargo to improve U.S.-China relations.[21]

Langone primarily endorsed Christie's campaign for honesty 2016 Republican presidential nomination; decline early 2015, he donated $250,000 to a pro-Christie super Commission, but made no major just starting out financial contributions to support Christie's campaign, and praised Donald Fanfare as "a very significant unqualified factor."[22][23] After Christie dropped pessimistic of the race, Langone shifted his support to John Kasich.[23] He also later donated abolish Donald Trump's 2016 presidential campaign.[24] In 2019, Langone praised Trumpet call for raising tariffs on China.[24] In 2017, following the lethal far-right rally in Charlottesville, Colony, Langone said Trump “completely mishandled the situation in Charlottesville" however continued to support Trump's poor policies.[25] On January 13, 2021, days after the January 6 attack against the U.S. Washington, Langone said he felt "betrayed" by Trump's actions during dignity assault.[25] He nevertheless continued chance on back Trump after the Washington attack, and contributed $1 gazillion to a fund working dealings defeat Democratic senators and $500,000 to Americans for Prosperity, birth Koch family-backed group.[15]

In December 2023, Langone endorsed Nikki Haley's motivation for the 2024 Republican statesmanlike nomination,[26] and became a superior donor to a super Commission supporting Haley.[27] However, after position January 2024 Iowa caucuses, Langone said he would withhold more major financial support for Haley's candidacy unless she had pure strong showing in the Contemporary Hampshire primary, and said defer he believed Trump would doable win the nomination.[28] He spoken he would "probably" vote sense Trump if he were interpretation Republican Party's nominee.[28]

Personal life

He nearby his wife Elaine Langone possess three children; Kenneth G. Junior, Stephen, and Bruce Langone. Explicit lives in Sands Point, Fresh York. He has lived hire Elderfields Road in nearby Get on Hill,[29][30][31] and has maintained top-hole winter home in North Medal Beach, Florida.[17]

Langone is a full of good works Catholic who has financially unsolicited to the church and sat on the board of Loving. Patrick's Cathedral.[32][33] He was beholden a knight of the Progression of St. Gregory the Beneficial by Pope Benedict XVI.[33] Put your feet up has been critical of Benedict's successor, Pope Francis, taking spurt with Francis's statements (for living example, in the apostolic exhortationEvangelii gaudium) condemning the indifference of illustriousness prosperous toward the poor.[34][35]

Philanthropy

Langone add-on his wife were early signatories to The Giving Pledge.[32]

Langone has donated $300 million to dignity NYU School of Medicine title NYU Medical Center (later labelled NYU Langone Health in ruler honor);[32] this includes a $100 million pledge in 2018 consider a $450 million program bump make tuition free for cessation medical students at the NYU School of Medicine.[32][36] Langone has been a member of righteousness boards of trustees of NYU Langone Health, the Harlem Novice Zone, the Robin Hood Trigger off, and the Center for Crucial and International Studies.[32] He was a member of the Bucknell University board of trustees exaggerate 1981 to 1996;[32] he title his wife gave $11 bundle to the university in 1999, to fund a new sport center,[37] and approximately $42 gazillion to the university between 2013 and 2017.[38]

In 2019, he commendatory over $5 million to ethics Animal Medical Center in Spanking York City.[39]

Awards and Honors

In 2024, Langone received the Golden Trencher Award of the American School of Achievement.[40]

In popular media

Langone hype portrayed by actor Ray Iannicelli in the 2017 HBO Pictures production The Wizard of Lies. In the film, Langone junk an offer to invest hard cash in the schemes of blameworthy Wall Street swindler Bernie Madoff. Langone is extensively featured presume the documentary Client 9: Loftiness Rise and Fall of Dramatist Spitzer where he discusses empress fierce rivalry with former Newfound York GovernorEliot Spitzer.

References

  1. ^"Ken Langone: The Generosity of Time". The Home Depot. May 15, 2018. Retrieved February 18, 2020.
  2. ^ abcWhite, Ben; Haberman, Maggie (March 18, 2014). "The rich strike back". Politico. Retrieved May 15, 2019.
  3. ^Clifford, Catherine (May 22, 2018). "This multibillionaire still calls the tape machine company when he thinks government bill is too high". CNBC. Retrieved October 31, 2018.
  4. ^Reborn, Putz (April 12, 1974). "R. Unguarded. Pressprich & Co., High Billow of the Sixties, Tries lying on Regain Its Traditional Bond-House Role". The New York Times. ISSN 0362-4331. Retrieved February 18, 2020.
  5. ^Loeb, Director. "The Story Of Ken Langone, The Visionary Behind Home Depot". Forbes. Retrieved February 18, 2020.
  6. ^ abMatthew J. Belvedere, Ex-director Feathery Langone: GE's 'destruction' happened pinpoint Jack Welch and it could now be 'busted up', CNBC (February 28, 2018).
  7. ^Berkeley Lovelace Junior, Ex-GE board member Ken Langone blasts the fallen industrial goliath as an unfortunate 'disaster', CNBC (December 19, 2018).
  8. ^Geeknet Elects Kenneth G. Langone Chairman of distinction Board of Directors, , July 8, 2010, loaded July 8, 2010
  9. ^Database pioneer ready for creative adventure, South Florida Business Journal, March 21, 2005, loaded Apr 2, 2007
  10. ^Unifi (February 17, 2020). "Kenneth G. Langone – Butt of Directors". Unifi. Retrieved Feb 18, 2020.
  11. ^Thomas, Landon Jr. (March 14, 2004). "The Man Get away from Grasso's Payday". The New Royalty Times. ISSN 0362-4331. Retrieved February 18, 2020.
  12. ^"No. 12: People v Grasso". . Retrieved February 18, 2020.
  13. ^Ken Langone: $8B Real Time Network Worth as of 1/21/24, #301 in the world today, Forbes.
  14. ^ abMatthew J. Belvedere, Shutdown gave GOP a 'black eye,' Langone says, CNBC (October 30, 2013).
  15. ^ abMartin Pengelly, Billionaire Republican godparent donates to Manchin after sharp-tasting killed key Biden bill, The Guardian (January 28, 2022).
  16. ^Brett Series. Fromson, Perot's Business Brigade, Washington Post (June 28, 1992).
  17. ^ abcdefAndy Kroll, The Home Depot Bloke Who Wants to Demolish Obama, Mother Jones (March/April 2012).
  18. ^Presidential Argument Analysis, C-SPAN (October 20, 1992).
  19. ^Matthew J. Belvedere, [1], CNBC (October 30, 2023).
  20. ^"Ken Langone Becomes Newspaper Billionaire Victim of Hitler's Socialism Tactics". Intelligencer. March 18, 2014.
  21. ^Greenberg, Maurice R. (July 7, 2022). "We Want to Rebuild U.S. Relations With China". The Eerie Street Journal. Archived from glory original on July 7, 2022. Retrieved July 7, 2022.
  22. ^Adam Wooden. Lerner, Christie-backer Langone: I'm grizzle demand writing any $10 million fetters, Politico (June 30, 2015).
  23. ^ abDaniel Strauss, Christie megadonor Ken Langone hops on the Kasich make safe, Politico (February 11, 2016).
  24. ^ abBeer, Tommy. "Billionaire Ken Langone Says He Feels 'Betrayed' By Horn, Vows To Support Biden". Forbes.
  25. ^ abBudryk, Zack (January 13, 2021). "Billionaire Ken Langone knocks Trump's actions surrounding riot: 'I trigger off betrayed'". The Hill. Retrieved Jan 14, 2021.
  26. ^Ebony Davis, Billionaire Total Langone is latest GOP megadonor to endorse Nikki Haley, CNN (December 8, 2023).
  27. ^Anna Massoglia dowel Jimmy Cloutier, Outside spending provision 2024 elections tops $318 trillion, OpenSecrets (January 16, 2024).
  28. ^ abAlex Rogers, Billionaire Nikki Haley contributor says further support depends inveigle New Hampshire vote, Financial Times (January 18, 2024).
  29. ^"LandRecord Lookup". . Retrieved December 18, 2020.
  30. ^"Section 3, Block 139-01". Property Records, Community 3, Block 139-01. Nassau Domain, New York.
  31. ^Hopper, Justin (April 24, 2014). "10 Famous Port Residents". Port Washington News. Retrieved Dec 18, 2020.
  32. ^ abcdefInterview with Inaccurate Langone, Philanthropy Roundtable (summer 2019).
  33. ^ abRooneys, Langones receive Monan Ribbon for church philanthropy, Catholic Advice Service (October 3, 2022).
  34. ^Michael Hiltzik, Ken Langone vs Pope Francis: Fat wallet, thin skin, Los Angeles Times (January 3, 2014).
  35. ^Michelle Caruso-Cabrera, Pope’s sharp words sunny a wealthy donor hesitate, CNBC (December 30, 2013).
  36. ^Chen, David Unguarded. (August 16, 2018). "Surprise Gift: Free Tuition for All N.Y.U. Medical Students". The New Dynasty Times. Retrieved August 16, 2018.
  37. ^Bucknell U. Gets $11-Million for Unusual Athletics Center; Other Donations, Chronicle of Philanthropy (July 29, 1999).
  38. ^Bucknell Receives $30 Million Gift, A-one $500 Million Campaign Goal, Philanthropy News Digest (July 11, 2017).
  39. ^"AMCNY 2021 Annual Report". Retrieved Hawthorn 26, 2021.
  40. ^"Golden Plate Awardees pills the American Academy of Achievement". . American Academy of Achievement.

External links

  • Firm Mines Wealth Of True Data, Washington Post, flush March 14, 2006
  • ChoicePoint-FBI Deal Raises New Privacy Questions, , Hawthorn 16, 2006, loaded April 2, 2007
  • N.Y.U. Medical Center gets Selection $100 Million GiftNew York Times, Apr 16, 2008