Bloomberg Billionaires Index

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# JB Pritzker

Random fact: Sister, Penny, was U.S. Secretary of Commerce under President Obama.

Overview

Pritzker runs the Chicago-based Pritzker Group with his older brother, Tony. The private equity and venture capital firm, which was seeded by the brothers' inheritance from their family's hotel and manufacturing empire, has invested in more than 75 companies. He also owns shares in Hyatt Hotels and commercial real estate properties in the U.S.

As of Sept. 21, 2017:
Last change ()
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Industry Finance
Biggest asset N/A
Citizenship United States
Age 52
Wealth Inherited
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Relative Value

JB Pritzker's net worth of can buy ...

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of U.S. existing home sales
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Latest News

Net Worth Summary

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Biography

Birthdate: 1/19/1965
Family: Married, No children
Education: Duke University, Political Science, Bachelor's Degree Northwestern Univ School of Law, JD

Jay Robert Pritzker is the youngest of three children born to Donald Pritzker, the youngest of the three Pritzker brothers credited with expanding the family's multi-billion dollar hotels and manufacturing empire. "J.B." received an undergraduate degree in political science from Duke University in 1987, and a law degree from the Northwestern University School of Law in 1993.

Unlike older siblings Penny and Tony, Pritzker never went into the family business. Instead, he became an investment banker at Chicago Corp. in 1993, then a venture capital investor in 1996 with his own firm, New World Ventures, where he started with $3 million of his own money.

Pritzker dabbled in politics, serving in Washington as a legislative aide to the late Democratic Congressman Tom Lantos; as a legislative assistant to late U.S. Senator Terry Sanford, a Democrat from North Carolina; and Alan Dixon, a former Democratic Senator from Illinois. He unsuccessfully ran for Congress as a Democrat to represent Chicago's 9th District seat in 1998, and served as national co-chairman of Hillary Clinton's 2008 presidential primary campaign.

Pritzker was part of a group of fourth generation cousins who in 2001 accused his older sister, Penny, and cousins Thomas and Nicholas of paying themselves too much to run the family enterprise, moving assets to their own trust funds and failing to disclose those actions. To avoid a court fight, the Pritzkers agreed to a 10-year restructuring under which the family kept some assets, sold others and held an initial public offering for Hyatt.

Pritzker and brother Tony in 2002 created the Pritzker Group, in part to invest their inheritances in venture capital and private equity. He helped fund the construction of the Illinois Holocaust Museum and Education Center, which was built in 2009.

The billionaire lives in Chicago with his wife, M.K., and their two children.

Milestones
  • 1965 Jay Robert Pritzker is born to Sue and Donald Pritzker in Stanford, California.
  • 1987 Graduates from Duke University with a degree in political science.
  • 1987 Works as legislative assistant for U.S. Senator Terry Sanford.
  • 1993 Graduates from the Northwestern University School of Law.
  • 1993 Joins Chicago Corp., an investment bank.
  • 1996 Founds New World Ventures to invest in venture capital deals.
  • 1998 Unsuccessfully runs for Congress to represent Chicago's 9th District seat.
  • 2002 Joins with brother Tony to form the Pritzker Group investment firm.
  • 2008 Serves as national co-chairman of Hillary Clinton's presidential campaign.
  • 2012 Helps found technology business incubator 1871 in Chicago's Merchandise Mart.