Penny Pritzker – Billionaire

Penny Sue Pritzker (born May 2, 1959) is an American billionaire businesswoman, entrepreneur and civic leader. President Barack Obama nominated Pritzker as United States Secretary of Commerce. After being confirmed by a Senate vote of 97-1, she became the 38th person to hold that position. Pritzker was an early supporter of Obama’s presidential candidacy, having been a friend of the Obama family since their time in Chicago.

Pritzker spent her early career in business. She worked her way up through the Pritzker family business, eventually being appointed one of three successors to her uncle, Jay Pritzker. She is the founder of PSP Capital Partners and Pritzker Realty Group. She is also co-founder of Artemis Real Estate Partners. As of October 2015, Forbes estimated her net worth at US $2.4 billion. In 2009, Forbes named Pritzker one of the 100 most powerful women in the world.

Early life

Pritzker was born in Chicago in 1959, the daughter of Sue (née Sandel) and Donald N. Pritzker. Pritzker is a member of the Pritzker family of Chicago, a wealthy and influential business family. Donald Pritzker was one of the co-founders of Hyatt hotels. Don moved the family to Palo Alto where business for the Hyatt Hotels began to grow. The family welcomed two more sons, Tony (born 1961) and J.B. (born 1965). Young Penny would accompany her father to the hotels and check the cleanliness of the ladies restrooms. In 1972, Don died suddenly of a heart attack when Penny was 13 years old. Following Don’s death, Sue began battling depression, requiring Penny to at times care for her mother and her younger brothers. At 16, Penny wrote a letter to her gradfather, and head of the family business empire, A.N. Pritzker, in which she asked why he talked business with the men in the family and not with her. Finally realizing Penny’s interest in business, A.N. provided her with a summer course in accounting.

Penny attended Castilleja School until 1977. She earned an AB in Economics from Harvard College in 1981. The following year, Penny’s mother died after falling out of the passenger side of a tow truck. Penny returned to school, earning both a JD and an MBA from Stanford University in 1985.

Source:wikipedia