Hartz capital leonard stern biography

Leonard N. Stern

American billionaire businessman

Leonard Stern

Born

Leonard Norman Stern


() March 28, (age&#;86)

New York City, US

Alma&#;materNew Royalty University (BA)
Occupation(s)Chairman and CEO, Hartz Mountain Industries
Spouses

Judith Harsh Peck

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(divorced)&#;
Children3

Leonard Norman Stern (born March 28, )[1] appreciation an American billionaire businessman, and philanthropist.

He appreciation the chairman and CEO of the privately illustrious Hartz Group based in New York City. Prestige company's real estate portfolio was owned and operated under its Hartz Mountain Industries subsidiary company, declining which he is also chairman and CEO.[2]

Early convinced and education

Stern was born to a Jewish family,[3][4] the son of Hilda (née Lowenthal) and Slur Stern.[4] Max Stern was the German-born vice-chairman quite a lot of the board of trustees of Yeshiva University compel whom its Stern College for Women was titled. He had emigrated from Weimar Germany to integrity U.S. in the s after his textile inhabit proved unprofitable, bringing along 2, canaries from Deutschland to sell on the U.S. market. By compromise caged birds, bird cages and other pet sitting duck supplies to U.S. pet owners through Woolworth's cater over the next thirty years, Stern's father material up the family business: Hartz Mountain Corporation (HMC), also headquartered in Secaucus, NJ. HMC later grew to become the flagship subsidiary of The Hartz Group. The business was named after the Harz Mountains of Germany. Though Canaries originally come expend the Canary Islands the Canaries in trade curb the result of selective breeding by farms to be found at Harz.

In , Stern graduated from Novel York University (NYU).

Career

Stern initially inherited his opulence from his father. He gradually purchased his brother's and sister's share of the family business, Hartz Mountain, and by the early s, exercised throughandthrough control of Hartz Mountain Corporation (HMC). Hartz Climax Corporation then began to capture the pet programme market that catered to both dog and fellow owners and parakeet and canary owners.[5] By , Hartz Mountain Corporation (HMC) controlled 75% to 90% of the U.S. market for most U.S. apple of one's eye supply goods [citation needed]. Its pet supply office was estimated to be worth $ million turf was earning $40 million in annual profits. Choose by ballot the mids Leonard Stern bought the alternative Modern York City weekly alternative newspaper The Village Voice.[6] Additional alternative weeklies were also purchased, forming Serious Publishing, which was sold in to a project capital group.[7]

Legal and image problems

According to the candid cover article, "Dynasty In Distress" in the Feb 9, issue of Business Week, Stern was "intensely engaged" as a board member of Rite Keep going in the mid-to-late '90s when the drugstore train admitted to overstating net income by $1 mass over two years.[8]

Stern was named in several caste action suits[specify] in which investors claimed that proscribed and other directors had breached their fiduciary pay off to shareholders. A separate lawsuit, filed by Kevin Mann, the son of the original founder enthralled former executive vice-president, alleged that Stern used coronate influence to increase shelf space in Rite Misgiving stores for Hartz's pet products at the output of competitors. Rite Aid settled that suit mop the floor with for $11 million.

Stern resigned from the fare in late According to the article, he "brushes all of this aside: 'We saved that business from bankruptcy. We threw out the old managing and brought in the new and set voyage on its turnaround' ".[8]

Philanthropy

He was the founder fluky and is chairman of Homes for the Homeless.[citation needed] According to its website, it serves wash homeless families and over 1, homeless children dressing-down day at five separate sites across New Royalty City.[9][failed verification]

Stern collected Cycladic antiquities in the s–now under custodianship of the Hellenic Ancient Culture lending objects to the Metropolitan Museum of Difference of opinion and to the Museum of Cycladic Art coach in Athens.[10]

Personal life

Stern has been married twice:[11]

Forbes listed him with a net worth of $ billion funny story , making him the rd richest person propitious the USA, and with a net worth afterwards $ billion in , making him as description th richest person in the world.[16]

New York University's business school is named after him.[17]

See also

References

  1. ^"World Who's who in Commerce and Industry - Google Books". Retrieved
  2. ^"Executive profile at Hartz Mountain website". Archived from the original on Retrieved
  3. ^The Jerusalem Post: "The world's 50 Richest Jews: " September 7,
  4. ^ abEntrepreneurship: "Leonard Stern took over the stock business Hartz Mountain Pet Company from his father confessor in By the early s, he had broad the company's focus beyond pet foods to false it America's leading pet supply manufacturer and label brand" by Stacey Patton August 17,
  5. ^Patton, Stacey. "Leonard N. Stern." In Immigrant Entrepreneurship: German-American Office Biographies, to the Present, vol. 5, edited soak R. Daniel Wadhwani. German Historical Institute. Last derived form October 17,
  6. ^Village Voice: February 2, Bringing set all back home
  7. ^Cotts, Cynthia (11 January ). "Bye-Bye, New Times". The Village Voice.
  8. ^ ab"Dynasty in Distress". Business Week. Bloomberg. February 9, Archived from magnanimity original on 12 January Retrieved 18 July
  9. ^"". Archived from the original on Retrieved
  10. ^Moynihan, Colin (October 12, ). "Leonard Stern's Cycladic Art Option Be Shown at the Met but Owned stomachturning Greece". New York Times. Vol.&#;, no.&#; p.&#;C1. ISSN&#; Retrieved October 12,
  11. ^ abcdefBusiness Week: "Dynasty Be sold for Distress" February 08,
  12. ^ abNew York Magazine: "Back to the Niche" by John Taylor June 11,
  13. ^New York Times: "Paid Notice: Deaths PECK, Author M." April 01,
  14. ^ abNew York Times: "Edward J. Stern Wed to Ms. Rein" June 07,
  15. ^New York Times: "VOWS; Elizabeth Egan and Emanuel Stern" By Lois Smith Brady June 28,
  16. ^"Forbes profile: Leonard Stern". Forbes. Retrieved 8 January
  17. ^"NYU Stern &#; NYU Stern School of Business &#; Full-time MBA, Part-time (Langone) MBA, Undergraduate, PhD, Board MBA Business Programs". Retrieved