Rank #2938
Albert Nahmad
Net worth $1.3B
Air conditioning parts · United States
- Born
- Oct 15, 1940
- Age
- 85
- Source
- Air conditioning parts
- Residence
- Coral Gables, Florida
- Citizenship
- United States
- Marital status
- Married
- Children
- 2
- Education
Net worth over time
Biography
- Albert Nahmad is CEO and approximately 7% shareholder of Watsco, a large distributor of air conditioning, heating and refrigeration parts.
- Born in Panama, Nahmad emigrated to the United States to study engineering at the University of New Mexico and Purdue.
- In 1973, Nahmad bought a stake in Watsco, then a small, publicly traded company.
- Using a highly acquisitive strategy, Nahmad helped Watsco grow from a market cap of $22 million in 1989 to more than $20 billion now.
- Nahmad's children are active in his businesses. His son is president of Watsco; his daughter is president of the Nahmad Family Foundation.
Financial assets
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