Kenneth Langone

About Kenneth Langone

Birth Day: September 16, 1935
Birth Place: Sands Point, New York, United States
Birth Sign: Libra
Residence: Sands Point, New York.
Alma mater: B.A. Bucknell University New York University Stern School of Business
Occupation: Businessman
Known for: Helped arrange financing for the co-founders of The Home Depot
Spouse(s): Elaine Langone
Children: Kenneth Gerard Langone Jr. Stephen Langone Bruce Langone

Kenneth Langone Net Worth

Kenneth Langone was bornon September 16, 1935 in Sands Point, New York, United States. In 1978, Kenneth Langone made an early investment in Home Depot and became a cofounder with Arthur Blank and Bernard Marcus, now billionaires. The grandson of Italian immigrants, Langone dug ditches for the Long Island Expressway before he went to Bucknell University to study economics. After two years in the U.S. army, he made a name for himself on Wall Street, taking Ross Perot Sr.'s Electronic Data Systems public in 1968.
Kenneth Langone is a member of Investments

💰 Net worth: $3.5 Billion (Updated at 22 June 2018)

2010 $1.1 Billion
2011 $1.3 Billion
2012 $1.6 Billion
2013 $2.1 Billion
2014 $2.4 Billion
2015 $2.8 Billion
2016 $2.8 Billion
2017 $3 Billion
2018 $3.24 Billion

Some Kenneth Langone images

Famous Quotes:

Bernard Baruch said "I got rich by selling soon." I got rich by never selling.

Biography/Timeline

1960

In the early 1960s, Langone began his career at a Wall Street financial services company named R.W. Pressprich, where he helped develop new Business. In 1968 Langone met and persuaded Ross Perot into letting Pressprich handle Electronic Data Systems's IPO. In 1969, Langone would be named Pressprich’s President.

1974

In 1974, Langone left to form a new firm, named Invemed – a venture capital firm. Langone began to study the home improvement Business and eventually bought stock in Handy Dan, a home improvement chain. This led to a relationship with Handy Dan CEO Bernard Marcus and CFO Arthur Blank. Although a minority shareholder, Langone effectively protected Marcus from issues that arose between Marcus and Sanford Sigiloff, the CEO of The Daylin Corporation, Handy Dan's parent company. Marcus, however, felt that if Langone sold his interest in Handy Dan, it might actually improve his relationship with Sigiloff. Shortly after Langone sold his Handy Dan stock both Marcus and Blank were fired. Langone organized financing for Marcus and Blank to found Home Depot. Now a national chain with over 300,000 employees, it is Langone's most notable Business venture.

1997

He was elected as Director of Yum! Brands effective October 7, 1997, and is a member of the Audit Committee.

2001

Langone served on the board of General Electric in 2001.

2008

Universities Langone has contributed towards include Bucknell University, and NYU. Bucknell University has benefited from his $11 million donation, which financed a new Athletics and Recreation Center. Additionally, he has donated $6.5 million to NYU's Stern School to endow the Kenneth G. Langone Part-time Evening MBA program. In 2008, Kenneth and Elaine Langone made an unrestricted $200 million gift—the largest in the Medical Center's history—and the NYU Medical Center was subsequently renamed the NYU Elaine A. and Kenneth G. Langone Medical Center. Langone serves as the Chair of the Board of Trustees of the NYU Langone Medical Center.

2010

On July 8, 2010, Geeknet announced that Kenneth Langone was elected Chairman of its Board of Directors and is now serving as CEO.

2013

Through Home Depot, Kenneth Langone started the charitable organization Ken's Kids, which provides job training and employment to youths aged 18–21 with disabilities in Philadelphia. Langone himself financially contributes to the charity.

2017

Langone is portrayed by actor Ray Iannicelli in the 2017 HBO Films production The Wizard of Lies. In the film, Langone is depicted as one of the few people who see through the schemes of convicted Wall Street swindler Bernie Madoff. In a scene featuring Iannicelli and Robert DeNiro as Madoff, Langone forcefully rejects an offer to invest money into a new investment fund that later turns out to be fraudulent.