Jay Pritzker, the co-founder of Hyatt Hotels Corporation, was born to Abram Nicholas Pritzker and Fanny (née Doppelt). His father, Abram Nicholas Pritzker, was a significant figure in the family’s business endeavors. Born on January 6, 1896, in Chicago, Abram was the son of a Ukrainian Jewish immigrant who arrived in Chicago in 1881 from Kiev. He graduated from Harvard University with a law degree in 1920 and subsequently worked in his father’s law firm, which later became known as Pritzker & Pritzker.
Abram, alongside his brother Jack Nicholas Pritzker, ventured out of the law firm in 1936 to explore opportunities in commerce. They invested in real estate and small companies, particularly around Chicago, which led to the rapid growth of the family fortune. They successfully managed to shield their profits from heavy taxation by setting up a number of trusts. Apart from his business acumen, Abram was also known for his philanthropic efforts, notably contributing to the establishment of the Pritzker School of Medicine at the University of Chicago and donating several million dollars annually to various causes.
The Pritzker family’s business empire continued to expand under the leadership of Abram Nicholas’s sons – Jay Arthur, Robert Alan, and Donald Nicholas. They were instrumental in transforming the Hyatt House hotel in Los Angeles, purchased in 1957, into the extensive Hyatt Hotels chain. Additionally, Jay and Robert were adept at rejuvenating financially troubled companies into profitable ventures. By the mid-1980s, their business interests included significant real estate holdings and hundreds of companies and subsidiaries, encompassing a wide range of industries from hospitality to credit reporting and water treatment.
This remarkable journey of the Pritzker family, from their humble beginnings to establishing a multibillion-dollar empire, is a testament to their business prowess and philanthropic legacy oai_citation:1,Jay Pritzker – Wikipedia oai_citation:2,Pritzker family | Real estate, philanthropy & hospitality | Britannica.
Who was his parents and their history
Jay Pritzker, the co-founder of Hyatt Hotels Corporation, was born to Abram Nicholas Pritzker and Fanny (née Doppelt). His father, Abram Nicholas Pritzker, was a significant figure in the family’s business endeavors. Born on January 6, 1896, in Chicago, Abram was the son of a Ukrainian Jewish immigrant who arrived in Chicago in 1881 from Kiev. He graduated from Harvard University with a law degree in 1920 and subsequently worked in his father’s law firm, which later became known as Pritzker & Pritzker.
Abram, alongside his brother Jack Nicholas Pritzker, ventured out of the law firm in 1936 to explore opportunities in commerce. They invested in real estate and small companies, particularly around Chicago, which led to the rapid growth of the family fortune. They successfully managed to shield their profits from heavy taxation by setting up a number of trusts. Apart from his business acumen, Abram was also known for his philanthropic efforts, notably contributing to the establishment of the Pritzker School of Medicine at the University of Chicago and donating several million dollars annually to various causes.
The Pritzker family’s business empire continued to expand under the leadership of Abram Nicholas’s sons – Jay Arthur, Robert Alan, and Donald Nicholas. They were instrumental in transforming the Hyatt House hotel in Los Angeles, purchased in 1957, into the extensive Hyatt Hotels chain. Additionally, Jay and Robert were adept at rejuvenating financially troubled companies into profitable ventures. By the mid-1980s, their business interests included significant real estate holdings and hundreds of companies and subsidiaries, encompassing a wide range of industries from hospitality to credit reporting and water treatment.
This remarkable journey of the Pritzker family, from their humble beginnings to establishing a multibillion-dollar empire, is a testament to their business prowess and philanthropic legacy oai_citation:1,Jay Pritzker – Wikipedia oai_citation:2,Pritzker family | Real estate, philanthropy & hospitality | Britannica.
Oh wow,,, also acquiring Ticketmaster in 1982–
Jay Pritzker, born in 1922 in Chicago, was a prominent American entrepreneur and member of the Pritzker family. He played a pivotal role in diversifying the family business, which initially consisted of the Pritzker & Pritzker law firm, into the Marmon Group holding company. Alongside his brother Robert, Jay built a portfolio of 60 diversified industrial corporations.
One of Jay Pritzker’s most notable achievements was the creation of the Hyatt Hotel chain in 1957, a venture he undertook with his brother Donald Pritzker. This marked the beginning of what would become a global hospitality brand. Besides Hyatt, he also owned Braniff Airlines from 1983 to 1988.
In 1979, Jay Pritzker established the Pritzker Architecture Prize, now considered one of the most prestigious honors in the field of architecture. He was also involved in the acquisition of Ticketmaster in 1982, which he expanded before selling a significant portion to Microsoft co-founder Paul Allen in 1993.
Pritzker was married to Marian “Cindy” Friend for 51 years, and the couple had five children. He was recognized for his contributions to various fields, receiving the Golden Plate Award of the American Academy of Achievement in 1979 and, along with his wife, the National Building Museum’s Honor Award in 1996.
Jay Pritzker passed away in 1999 in Chicago, leaving behind a legacy marked by significant contributions to the hospitality industry, architecture, and various business ventures oai_citation:1,Jay Pritzker – Wikipedia oai_citation:2,Jay Pritzker Biography | Infoplease.