Jay Arthur Pritzker (August 26, 1922 – January 23, 1999) was an American entrepreneur, conglomerate organizer, and member of the Pritzker family. He was a founder of the Hyatt Corporation, having purchased the first Hyatt Hotel in 1957, and was responsible for the corporation's evolution into a multinational hospitality conglomerate.
Early life and education
Pritzker was born in Chicago, Illinois to Jewish parents. Pritzker's grandparents emigrated to the United States in 1881.[1] A son of Fanny (née Doppelt) and Abram Nicholas Pritzker, he had two brothers: Donald and Robert Pritzker.[2] At the age of 14, Pritzker was admitted to the University of Chicago.[3] He then went on to graduate with a B.S. from Northwestern University in 1941 and a J.D. from the Northwestern University School of Law in 1947.[2][4][5] Pritzker served in WWII as a naval aviator.[6]
Career
Pritzker diversified the Chicago-based family business—which then consisted of the Pritzker & Pritzker law firm run by his uncle, Harry, and the investments made by his father and his uncle, Jack — into the Marmon Group holding company.[citation needed] With his brother, Robert, he built a portfolio of 60 diversified industrial corporations. He created the Hyatt Hotel chain in 1957 with his brother Donald Pritzker and owned Braniff Airlines from 1983–1988.[citation needed]
In 1979 he established the Pritzker Architecture Prize. In 1982, he acquired Ticketmaster and expanded it before selling 80% for more than $325 million to Microsoft co-founder Paul Allen in 1993.[7][8][9]
In 1979, Pritzker received the Golden Plate Award of the American Academy of Achievement.[10]
In 1996, he and his wife, Cindy, received the National Building Museum's Honor Award.[11] In 2004, the Jay Pritzker Pavilion, designed by architect Frank Gehry, was completed as part of Millennium Park in downtown Chicago.[citation needed]
Personal life
Pritzker was married to Marian "Cindy" Friend, the daughter of Illinois appellate judge Hugo Friend,[12][13] for 51 years.[14][15] They had five children:[16]
- Nancy Pritzker (born 1948), died by suicide in 1972 at age 24. The University of Chicago medical school is named for her.[17]
- Thomas Pritzker (born 1950), served as chairman of Hyatt Foundation, chairman of Marmon Holdings, and as a director of Royal Caribbean, and the Pritzker Foundation.[16]
- John Pritzker (born 1953), runs his own private equity firm Geolo Capital, which focuses on investments in hospitality, entertainment and health and wellness companies. In 2010, he purchased a majority interest in the Joie de Vivre hotel chain and later merging it with the Pomeranc family's Thompson Hotel Group.[16]
- Daniel Pritzker (born 1959), musician and filmmaker who served as a trustee of the Jay Pritzker Foundation along with his wife, Karen. He also founded the Jay Pritzker Academy in Ta Chet, Cambodia; and is a prominent supporter of Providence St. Mel School in Chicago and Tufts University. He is the owner of Jerry Garcia's famed guitar "Wolf", which he purchased at auction for $789,500.
- Jean "Gigi" Pritzker (born 1962), film and play producer and is CEO of Odd Lot Entertainment.[16]
See also
References
- ^ The Monthly Supplement. International Who's Who, Inc. January 1, 1951.
- ^ a b New York Times: "Jay Pritzker, Who Built Chain Of Hyatt Hotels, Is Dead at 76" By ANTHONY RAMIREZ January 25, 1999
- ^ "The fascinating life of Penny Pritzker (so far)". Fortune. Retrieved February 12, 2016.
- ^ Northwestern University Timeline Archived May 2, 2013, at the Wayback Machine retrieved April 17, 2013
- ^ Anderson, Jon (January 24, 1999). "JAY A PRITZKER". Chicago Tribune. Retrieved July 23, 2020.
- ^ Ramirez, Anthony (January 24, 1999). "Jay Pritzker, Billionaire Who Founded the Hyatt Hotel Chain, is Dead at 76". New York Times.
- ^ "Rival to Ticketron: Ticketmaster Emerging as Force in L.A." Los Angeles Times. January 31, 1985. Retrieved May 30, 2020.
- ^ "MICROSOFT CO-FOUNDER PAUL ALLEN BUYS CONTROL OF TICKETMASTER". Chicago Tribune. November 22, 1993. Retrieved May 30, 2020.
- ^ Sandler, Adam. "Industry's #1 has a ticket to rule". Daily Variety. p. 17.
- ^ "Golden Plate Awardees of the American Academy of Achievement". www.achievement.org. American Academy of Achievement.
- ^ National Building Museum: List of Honor Award recipients retrieved April 17, 2013.
- ^ CNN Money: "THE PRITZKERS UNVEILING A PRIVATE FAMILY" By Ford S. Worthy April 25, 1988
- ^ Jewish Telegraphy Agency: "Judge Hugo Friend Named to Illinois Appellate Court" October 27, 1930
- ^ Vanity Fair: "Shattered Dynasty" by Suzanna Andrews May 2003
- ^ "2019-254 Cindy Pritzker Day" (PDF). 2020 Illinois Register. 44 (5): 2442–2443. January 31, 2020.
- ^ a b c d Harris, Melissa; Wernau, Julie (December 18, 2011). "Fortune's Fate". Chicago Tribune. pp. 1, 2 – via Newspapers.com.
- ^ USA Today "Father's 'Little Princess' in big Pritzker family feud" Debbie Howlett July 15, 2003
External links
- Jay Pritzker Pavilion @ Millennium Park, Chicago Archived December 5, 2010, at the Wayback Machine
Recent Comments