Robert E. Rich Jr. – Billionaire

Robert E. Rich Jr. is the chairman of Rich Products Corporation, the largest family-owned frozen foods manufacturer in the US, based in Buffalo, New York. He has a net worth of $2.9 billion as of August 2015.

Early life

Robert E. Rich Jr. graduated from Williams College with a Bachelor of Arts/Science in 1963.

Career

In 1964 he joined Rich Products, a company started by his father, as President of a startup subsidiary, Rich Products of Canada. Rich served in the United States National Guard from 1963 to 1969 and was a member of the Army Reserve Officer School Staff. He took time out to earn a Master of Business Administration (with honors) from the University of Rochester in 1969. Returning to the company he created the position of Vice President of Sales and Marketing. In 1978 he was named President of Rich’s. In 2006 when his father died in Palm Beach Robert Jr inherited 56% of Rich Products and assumed the title of Chairman.

Outside activities

Rich was on the inaugural Board of Directors of the Buffalo Sabres professional hockey team.

In 1983 Rich Products expanded outside food with the purchase of the Buffalo Bisons minor league baseball team. The Bisons are the AAA affiliate of the Toronto Blue Jays. He also owns the Northwest Arkansas Naturals (the AA affiliate of the Kansas City Royals), and the West Virginia Black Bears (the short-season class A affiliate of the Pittsburgh Pirates). He is also on the Trustees Council of the University of Rochester.

In fall 2015, Rich’s company, B.R. Guest Ltd., was given event organizing rights to a 160-acre stretch of Buffalo, New York’s Outer Harbor. The company was also awarded organizing rights to the city’s Canalside District in a six-to-eight-year contract beginning in 2017; B.R. Guest takes over from Comcast Spectacor, who managed the district the previous years but had continually lost money.

Source:wikipedia