On January 19, 1965, Jay Robert Pritzker was born in Palo Alto, California. He is a part of the affluent Pritzker family, who control the network of Hyatt hotels.
Donald Pritzker, the father of Pritzker, was the president of Hyatt Hotels until he passed away at the age of 39 from a heart attack. Sue (Sandel) Pritzker, his mother, passed away at the age of 49 in an accident.
Anthony Pritzker and Penny Pritzker, the former secretary of commerce of the United States, are Pritzker’s two elder siblings. Find the net worth of the Businessman
J.B. Pritzker’s Net Worth in 2024
Celebrity Net Worth says that J.B. Pritzker, whose real name is Jay Robert Pritzker, is a $3.5 billion American politician and businessman. In November 2018, J.B., who belongs to the wealthy Hyatt Hotel family, won the governorship of Illinois. His funds, totaling $172 million, were used to finance his campaign for governor.
The Pritzker family comprises approximately twelve billionaires, including J.B. Pritzker. With a total net worth of $33.5 billion, they rank among the wealthiest families in the world.
During the 1930s Great Depression, J.B.’s grandfather, Abram Pritzker, who was born to Ukrainian immigrants, started making real estate investments in Chicago.
The family business was developed and acquired by Abram’s three sons. The sons purchased the Hyatt House Hotel in Los Angeles in 1957.
In the end, this would serve as the foundation for a global hotel business. Robert, the son of Abram, founded the Marmon Group, a collection of manufacturing and industrial service firms, with the help of his inheritance.
For $4.5 billion, Warren Buffett purchased 60% of Marmon in 2007. The Pritzker family also owns McCall’s magazine, Trans Union credit agency, and Braniff Airlines in addition to their cruise line, Royal Caribbean.
Before taking on the role of governor, Pritzker managed the venture capital and private equity firm Pritzker Group. In 1995, he also started New World, a prosperous venture capital company.
With a focus on investing in software and IT startups, New World has funded about 50 businesses to date. Being a committed philanthropist, he has mostly contributed to educational facilities and programs.
How Did JB Pritzker Make His Money?
JD Pritzker is from a very powerful and affluent family. But after he was elected governor of Illinois in 2018, his name started to become well-known across the country. Approximately $171.5 million of his funds were used for the campaign.
As a result, he was able to defeat Republican incumbent governor Bruce Rauner. Rauner only garnered 39% of the vote, while Pritzker secured 54%. Many people are now curious to learn more about this incredibly wealthy man’s background and how he came to be affluent.
What makes JB Pritzker so wealthy?
Through a mix of inheritance, investments, and business endeavors, JB Pritzker amassed wealth. One major source of his family’s riches, as previously indicated, is the Hyatt Hotel business.
JB, however, aggressively pursued a variety of economic opportunities and investments rather than merely relying on family riches. JB Pritzker’s yearly compensation as the governor of Illinois is $184,758.
- Hyatt Hotels: The Pritzker family made a substantial financial contribution to the establishment and growth of the Hyatt Hotel network;
- Venture capital: JB Pritzker invested in early-stage technology companies through the founding of Pritzker Group Venture Capital;
- Real estate: His financial fortune was strengthened by strategic investments in both residential and commercial real estate;
- Investments in technology: To diversify his revenue sources, Pritzker made investments in several tech firms.
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JB Pritzker’s Assets
As per JP Pritzker’s Statement of Economic Interest (SEI), he possesses multiple hundred assets. Among all of these, the following are a few of his standout stocks:
- Anheuser-Busch (EBR: ABI);
- Walt Disney Co. (NYSE: DIS);
- Procter and Gamble Co. (NYSE: PG);
- Meta Platforms (NASDAQ: META);
- Apple Inc. (NASDAQ: AAPL)
- Alphabet Inc. (NASDAQ: GOOGL);
- Amazon.com Inc (NASDAQ: AMZN);
- McDonald’s Corp (NYSE: MCD).
Controversies
JB Pritzker was embroiled in several scandals throughout the years. His ties to offshore tax havens that were made public by the Paradise Papers were among the most significant.
Reports contradicted his defense, which stated that these trusts were established by his grandfather and were solely utilized for donations to charities.
His racial remarks caused yet another huge controversy. Specifically, back in 2018, tapes of a talk between Pritzker and Rod Blagojevich, the former governor of Illinois, were made public. JB later issued an apology for the various divisive remarks he made on these recordings.
Summary
In conclusion, the wealthiest American politician currently holding office is JB Pritzker. With an estimated $3.5 billion in net worth, he is among the top 1000 richest persons on the planet. This enormous figure wasn’t without controversy, though. Despite being a complicated person, Pritzker can hold onto his job as Illinois’s governor.
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