Kenneth Langone’s net worth stands at
$3.2 Billion
Unveiling Kenneth Langone’s Biography
Born on September 16, 1935, in Roslyn Heights, New York, Kenneth Gerard Langone is widely known as a business magnate and investor. He is revered for his instrumental role in the establishment of The Home Depot, crucially securing the necessary capital for the venture. Furthermore, he serves as the CEO of Geeknet, among various other successful endeavors.
Ever contemplated Kenneth Langone’s net worth as of mid-2017? Trusted sources have estimated his net worth at an impressive $3.2 billion, a substantial sum accrued through his illustrious career, commencing in the early 1960s.
Kenneth Langone’s Net Worth: $3.2 Billion
Kenneth, of Italian-American descent, was raised in a working-class family where his mother worked in a cafeteria and his father was a plumber. After completing high school, Kenneth pursued a BA at Bucknell University in Pennsylvania while shouldering various odd jobs to support his studies. These odd jobs included working as a caddy, ditch digger, and a butcher’s assistant. Graduating in three and a half years, he returned to New York and enrolled at New York University Stern School of Business, attending classes by night and working during the day.
Shortly after graduating, he joined the financial services company R.W. Pressprich. By the late 1960s, he had carved a significant niche for himself in the firm and championed the handling of Electronic Data System’s IPO, persuading the owner, Ross Perot, to give him this responsibility. This led to Kenneth assuming the presidency of Pressprich in 1969, a mere year following the phenomenal achievement.
He departed from Pressprich in 1974 and embarked on establishing his own venture capital firm, Invemed. The firm flourished, enabling him to invest in other business ventures.
He delved into the home improvement sector and bought a stake in Handy Dan, a home improvement chain. Subsequently, he co-founded Home Depot alongside his friends, Bernard Marcus and Arthur Blank, having been fired from Handy Dan after selling his stake to Sanford Sigiloff, CEO of The Daylin Corporation (parent company of Handy Dan). Home Depot has since evolved into a national chain with a workforce of over 300,000 employees, significantly augmenting Kenneth’s net worth.
Additionally, Kenneth has dabbled in numerous other successful and less successful ventures. His attempt to acquire the New York Stock Exchange fell through. Furthermore, he encountered several accusations following his allocation of a $139.5 million package to Richard Grasso upon his departure as chairman and chief executive of the New York Stock Exchange; however, all charges were ultimately dismissed.
He serves on the board of Database Technologies, was a co-founder of ChoicePoint Inc., and has been a director of Yum! Brands since 1997, among other notable positions.
On a personal note, Kenneth has been married to Elaine Langone since 1956, and they share three children.
A devout Roman Catholic, Kenneth Langone has been honored with the Knight of St. Gregory accolade by Pope Benedict XVI.
Notably, he is an acclaimed philanthropist, making substantial donations to universities, medical research centers, and other organizations. These include an $11 million contribution to Bucknell University and $6.5 million to fund the Kenneth G. Langone Part-time Evening MBA program at NYU’s Stern School. Additionally, he and his wife donated $200 million to the NYU Medical Center, prompting its renaming to NYU Elaine A. and Kenneth G. Langone Medical Center. Beyond this, he has supported several organizations including The Children’s Oncology Society, Harlem Children’s Zone, and the Damon Runyon Cancer Research Foundation, aiming to enhance the lives of underprivileged children. Moreover, through his “Ken’s Kids” organization, he extends support to young individuals aged 18 to 21 with disabilities in Philadelphia.
- Structural Info
- Facts
- Filmography
| Full Name | Kenneth Langone |
| Net Worth | $3.2 Billion |
| Date Of Birth | September 16, 1935 |
| Place Of Birth | Roslyn Heights, Town of North Hempstead, New York, United States |
| Profession | Businessperson |
| Education | New York University Stern School of Business, New York University, Bucknell University |
| Nationality | American, Italian |
| Spouse | Elaine Langone |
| Children | Bruce Langone |
| IMDB |
| # | Fact |
|---|---|
| 1 | Former director, New York Stock Exchange. |
| 2 | Co-founder, with Bernie Marcus, Pat Farrah and Arthur Blank, of Home Depot in 1979. |
Self
| Title | Year | Status | Character |
|---|---|---|---|
| Wall Street Week | 2017 | TV Series | Himself – Co-Founder, Home Depot |
| Charlie Rose | 2011 | TV Series | Himself – Guest |
| Client 9: The Rise and Fall of Eliot Spitzer | 2010 | Documentary | Himself – Chairman & CEO, Invemed Associates (as Ken Langone) |
| The 65th Annual Columbus Day Parade | 2009 | TV Movie | Himself – Grand Marshal |
