Henry Kravis Net Worth

Read more about Henry Kravis Biography

To begin with, he was raised in Tulsa by a successful oil engineer Raymond Kravis and his wife Bessie. Henry was educated at Eaglebrook School and Loomis Chaffee School, in the latter serving as a vice-president of the school. Kravis studied at Claremont McKenna College majoring in Economics, and then he received his Master’s degree graduating from the Columbia University in 1969. He began his career working with several smaller firms based in New York, before he and his cousin George R. Roberts went on to work at the investment bank Bear Stearns, under the guidance of Jerome Kolhberg.

In 1976, the three left Bear Stearns and started the firm Kohlberg Kravis Roberts (KKR). Kravis there developed the concept of leveraged buyout (LBO); together with his partners, he bought companies with potential that were performing poorly. Typically, KKR has invested 10% of the purchase amount from equity; the rest were inlaid by investors in the form of high yield bonds. Once Kravis took over a firm he led a drastic reorganization, in which he substantially cut costs, and excess divisions were sold. The new, more efficient company was subsequently sold at a hefty profit. Kravis’ net worth was rising steadily.

In 1987, Kravis assumed the leadership of KKR Kohlberg; a year later he bought RJR Nabisco for a then record amount of nearly $25 billion. The acquisition of this conglomerate of Nabisco and RJ Reynolds Tobacco Company is described in the book “Barbarians at the Gate”, which was filmed in 1993 by Glenn Jordan, with Jonathan Pryce in the role of Kravis. Among others, repurchase transactions included the Canadian company Masonite International for $1.9 billion in 2005 – in 2009, it was transferred it to its creditors. In 2006, with funds from Goldman Sachs, the handling branch of the Linde Group was purchased. In 2013, Panasonic announced the sale of 80% of its medical division to KKR for $1.67 billion. Today, KKR has invested in more than 65% of the 500 largest companies, and since its creation in 1976, the fund has achieved a 27% average annual rate of return.

Finally, in the personal life of the billionaire, Kravis has married three times. He separated in early 1980s from his first wife Helen Diane Shulman. In 1985, he married the designer Caroline Roehm; this marriage ended in 1993. Kravis married the French – Canadian economist Marie Josée Drouin in 1994.

Concerning his philanthropic efforts, Kravis launched a philanthropic award for leaders in the non- profit sector entitled The Henry R. Kravis Prize in Non-profit Leadership. He also funds the Leadership Studies programs at Claremont McKenna College. Henry Kravis has sponsored the construction of many schools, and serves on the board of many public, medical and educational institutions including Metropolitan Museum of Art, Memorial Sloan-Kettering Cancer Center, Council on Foreign Relations among others.

Structural info

  • Full Name: Henry Kravis
  • Net Worth: $5 Billion
  • Date Of Birth: January 6, 1944
  • Place Of Birth: Tulsa, Oklahoma, U.S.
  • Profession: Businessman, Founder of Kohlberg Kravis Roberts & Co, Co-Chairman, Co-CEO
  • Education: Eaglebrook School, Loomis Chaffee School, Claremont McKenna College, Columbia Business School
  • Nationality: American
  • Spouse: Helene Diane Shulman (div. 1983), Caroline Roehm (1985-.1993), Marie-Josée Kravis (m. 1994)
  • Children: Kimberly Kravis Schulhof, Robert R. Kravis, Harrison Kravis
  • Parents: Bessie Roberts, Raymond Kravis
  • LinkedIn: https://www.linkedin.com/in/henry-kravis-503a7110
  • IMDB: http://imdb.com/name/nm2827098

Filmography

Archive Footage
Title Year Status Character
The Eighties 2016 TV Mini-Series documentary Himself – Takeover Financier
Bloomberg Game Changers 2010 TV Series documentary Himself – Businessman
Endgame: Blueprint for Global Enslavement 2007 Video documentary Himself