Steven Udvar-Hazy
$4.5B
Born
Feb 23, 1946
Age
79
Source of Wealth
Aircraft leasing
Residence
Westlake, Texas
Citizenship
United States
Marital Status
Married
Children
4
Education
Bachelor of Arts/Science, University of California, Los Angeles
- Steven Udvar-Hazy, who immigrated to New York from Hungary as a child, is credited with creating the airplane leasing industry.
- He started his own airline in his 20s, but realized there was easier money to be made in buying planes and leasing them to airlines.
- Udvar-Hazy's first airplane leasing firm, International Lease Finance Corp., was sold to AIG in 1990 for $1.3 billion.
- He started his second airplane leasing company, Air Lease Corp., in 2010 and took it public a year later. He remains chairman.
- The Smithsonian's National Air and Space Museum named its sister location in Virginia for him after a $60 million donation in 2000.
- After immigrating to the U.S., Udvar-Hazy packed boxes in a Manhattan warehouse for 30 cents an hour when he was 14 years old.
- Udvar-Hazy took his first flying lesson as a teenager and is still certified to fly multiple jets.
- Udvar-Hazy and his wife Christine have donated more than $100 million to education, including to Stanford and the Embry-Riddle Aeronautical University in Arizona.
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