Albert Nahmad
$1.2B
Born
Oct 15, 1940
Age
85
Source of Wealth
Air conditioning parts
Residence
Coral Gables, Florida
Citizenship
United States
Marital Status
Married
Children
2
Education
- 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.
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