Jeffrey Lorberbaum

About Jeffrey Lorberbaum

Birth Day: October 24, 1954
Birth Place: Chattanooga, Tennessee, United States
Birth Sign: Scorpio
Alma mater: B.A. University of Denver
Occupation: Businessman
Known for: Chairman and CEO of Mohawk Industries
Spouse(s): Sarah Lorberbaum
Children: 2 Lauren Lorberbaum-Donohue Brian Lorberbaum
Parent(s): Alan Lorberbaum Shirley Lorberbaum

Jeffrey Lorberbaum Net Worth

Jeffrey Lorberbaum was bornon October 24, 1954 in Chattanooga, Tennessee, United States. Jeffrey Lorberbaum built Georgia-based Mohawk Industries into the largest flooring company in the world; he owns a nearly 15% stake. His father Alan founded Aladdin Mills in 1957 as a maker of bath mats; Lorberbaum joined the company in 1976 and later became CEO. In 1994, the family sold Aladdin to Mohawk Industries. Lorberbaum took charge at Mohawk in 2001 and expanded into hard-surface flooring. In 2015, the publicly-traded tile and carpet firm completed the acquisition of flooring maker IVC Group for $1.2 billion in cash and stock.
Jeffrey Lorberbaum is a member of Manufacturing

💰 Net worth: $2.1 Billion (Updated at 22 June 2018)

2013 $1.45 Billion
2014 $1.7 Billion
2015 $2.2 Billion
2016 $2.1 Billion
2017 $2.2 Billion
2018 $2.38 Billion

Biography/Timeline

1957

Jeffrey S. Lorberbaum is the son of Shirley and Alan Lorberbaum, Jewish migrants to the South from New York City. In 1957, his parents founded Aladdin Mills, Inc., in Dalton, Georgia. Aladdin initially produced bathmats and rugs for discount Retailers and during the 1970s expanded into tufted carpet Manufacturing, eventually growing the Business into one of the largest carpet manufacturers in the country. He has one sister, Suzanne Helen of Denver, and one brother, Mark Lorberbaum of Miami Beach. He graduated with a B.A. from the University of Denver.

1976

Jeffrey joined the family Business, carpet and rug manufacturer Aladdin Mills, in 1976, after graduating from the University of Denver. Lorberbaum held a number of leadership positions, eventually serving as Vice President of Operations from 1986 to 1994. In 1994, Aladdin merged with Mohawk Industries, which had gone public in 1992, creating one of the largest flooring manufacturers in the United States - and his Father became Mohawk’s largest shareholder. Jeffrey and Alan Lorberbaum then joined Mohawk's Board of Directors. In 1995, Lorberbaum became President of Mohawk; and, in 2001, he became CEO. Since then he has grown the company to $5.8 billion in revenues (2012) partly through acquisitions that expanded the scope of the company into hard surface flooring (ceramic tile, laminate, hard wood) and provided access to new geographies. In 2002, Lorberbaum orchestrated the $1.8 billion purchase of Dal-Tile of Dallas making Mohawk the world’s largest tile-maker. In 2005, Mohawk purchased Unilin, a Belgium-based maker of laminate flooring and MDF board (a composite used in do-it-yourself furniture) for $2.6 billion.

2016

As of August 2016, Lorberbaum holds 9.6 million shares of Mohawk amounting to 14 percent of the company which is valued at $2.14 billion.