Life, Death, and Kenneth Langone
American financial backer,venture capitalist, andinvestment bankerKenneth Langone comes with an estimated net worth of $1.9 billion as of March 2013 according to Forbes. In the past, he served as the director of the ny Stock Exchange. In 2010, he started serving as Geeknet’s Chairman of the Board of Directors, and now, he sits as the organization ‘s chief executive officer.
Kenneth Langone was born onSeptember 16, 1935 inRoslyn Heights, New York. Produced to working class parents, Langone has worked several blue-collar jobs while he was still studying atBucknell UniversityandNew York University Stern School of Business.
Before, Kenneth Langone has served on the board ofDatabase Technologies,General ElectricandChoicePointInc. where he is also a co-founder. Kenneth Langone’s most notable business venture is the founding of Home Depot which was formed after he arranged funding for Arthur Blank and Bernard Marcus. Today, this national chain hires more than 300,000 workers.
To date, this philanthropist has already contributed more than $150 million to several non-profit associations. A number of his beneficiaries includeTheChildren’s Oncology Society(Ronald McDonald House),Damon Runyon Cancer Research Foundation,Robin Hood Foundation,Tomorrow’s Hope Foundation, andHarlem Children’s Zone.
He has an estimated net worth of $2.1billion according to “Forbes”.
Following his NYU commencement, Langone began his business career. After some time, his launching pad was the IPO bargain he set up for Ross Perot’s business Electronic Data Systems. Building up his expertise over the next decade, Langone started to examine the do-it-yourself company and eventually bought stock in Handy Dan, a home improvement chain. This led to a connection between Langone and both Handy Dan CEO Bernard Marcus and CFO Arthur Blank. Although a minority investor, Langone effectively shielded Marcus from problems that appeared between Marcus and Sanford Sigiloff, the CEO of The Daylin Corporation, Handy Dan’s parent company. Marcus, nevertheless, believed when Langone sold his interest in Handy Dan, it could possibly enhance his relationship with Sigiloff. Langone organized funding for Marcus and Blank to found Home Depot. Now a national chain with over 300,000 workers, it is Langone’s most remarkable business venture. Kenneth Langone has contributed nearly $150 million to various charities. His philanthropic focus has been universities, medical research and training, education, and helping kids. Universities Langone has given towards comprise Bucknell University, and NYU. Bucknell University has profited from his $11 million contribution, which funded a brand new Sport and Recreation Center. Furthermore, he has contributed $6.5 million to NYU’s Stern School to endow the Kenneth G. Langone Part time Evening MBA program.