ABRAM NICHOLAS PRITZKER Biography - Bussiness people and enterpreneurs

 
 

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ABRAM NICHOLAS PRITZKER

Name: Abram Nicholas Pritzker                                                     
Born: 6 January 1896                                                             
Died: 8 February 1986                                                             
                                                                                 
Abram Nicholas Pritzker (January 6, 1896 - February 8, 1986) was an American     
businessman who founded the Hyatt hotel chain.                                   
                                                                                 
The son of Ukrainian Jewish immigrants, he graduated from Harvard Law School and 
worked for a time in the family's firm, Pritzker & Pritzker, before beginning     
with his brother Jack a business career that would launch a family empire. They   
invested in real estate and small companies, mostly around Chicago and amassing   
a considerable fortune. They shielded their earnings from taxes through a series 
of trusts, which enabled them to distribute the money as they chose. Abram's     
philanthropic endeavors include funding the Pritzker School of Medicine at the   
University of Chicago.                                                           
                                                                                 
Abram's sons, Jay, Robert, and Donald, continued to grow the family business,     
eventually buying the Hyatt House hotel in San Francisco in 1957 and forming the 
cornerstone of their hotel chain. His son, Robert Pritzker, created a             
conglomerate of a multitude of manufacturing companies ,which grew into the       
multi billion dollar Marmon Group, and was diversified to include manufacturing   
concerns ranging from lumber to railroad box cars, and travel industry staples.   
It comprised half of the family's wealth. On December 25th, 2007, it was         
announced that Warren Buffett, through Berkshire Hathaway, would purchase 60% of 
the Marmon Group from the Pritzkers for $4.5 Billion. The Pritzkers also own     
Royal Caribbean and TransUnion.                                                   
                                                                                 
According to Forbes, the Pritzker family is one of the wealthiest families in     
the United States.                                                               
                                                                                 
The Pritzker family also funds a charter school in the Hermosa Community of       
Chicago which is part of the noble network of charter schools. Pritzker College   
Prep is located at 4131 W. Cortland Avenue on the west side of Chicago.