Rank #431
Leonard Stern
Net worth $8.3B
Real estate · United States
- Born
- Mar 28, 1938
- Age
- 88
- Source
- Real estate
- Residence
- New York, New York
- Citizenship
- United States
- Marital status
- Married
- Children
- 3
- Education
- Master of Business Administration, Leonard N. Stern School of Business; Bachelor of Arts/Science, New York University
Net worth over time
Biography
- Leonard Stern joined his father Max's pet supply business in 1959. Seven years later he expanded into real estate, acquiring a New Jersey warehouse.
- His Hartz Mountain firm owns more than 260 real estate properties, mostly in the New Jersey area.
- Most of Hartz's portfolio is in warehouses, including properties in New Jersey, Atlanta, Baltimore and Charlotte, N.C.
- Stern sold the pet business for $350 million in 2000. He has also ventured into publishing, energy, capital management and carpet cleaning.
- Many know his name thanks to his $30 million donation 30 years ago to New York University's business school, renamed in his honor.
- Leonard's father Max Stern arrived in New York from Germany in 1926 with 5,000 canaries -- a friend's way to repay a loan.
- In 2015, Stern's son Eddie was named Hartz's president and chief operating officer. He will eventually succeed his father as chairman and CEO.