Henry Kravis Biography

(Entrepreneur)

Birthday: January 6, 1944 (Capricorn)

Born In: Tulsa, Oklahoma, United States

Henry R. Kravis is a noted American businessman, investor, and philanthropist, best known as the founding partner, co-chairman and co-CEO of the American global investment firm ‘Kohlberg Kravis Roberts & Co.’ Born into a Jewish family, Henry completed his studies with an MBA degree from the ‘Columbia Business School.’ Thereafter he joined ‘Bear Stearns’ along with his first cousin George R. Roberts, and started working under Jerome Kohlberg, Jr. The trio completed some of the initial leveraged buyout transactions at ‘Bear Stearns.’ They later left the firm amidst disagreements and formed ‘Kohlberg Kravis Roberts & Co.’ Over the years, firm has accomplished several transactions that include leveraged buyout of ‘RJR Nabisco’ and the buyout of ‘TXU,’ which is the largest buyout till now. Henry is a supporter of the ‘Republican Party.’ Together with Lewis M. Eisenberg, he has set up the ‘Republican Leadership Council.’ His philanthropic endeavours include presenting and administering the ‘Henry R. Kravis Prize’ in ‘Nonprofit Leadership’ and funding the ‘Henry Kravis Leadership Institute.’
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Quick Facts

Also Known As: Henry R. Kravis

Age: 80 Years, 80 Year Old Males

Family:

Spouse/Ex-: Marie-Josée Drouin, Carolyne Roehm, Helene Diane Hedi Shulman

father: Raymond Kravis

mother: Bessie (née Roberts)

Born Country: United States

Investors Philanthropists

Notable Alumni: Claremont McKenna College

U.S. State: Oklahoma

City: Tulsa, Oklahoma

More Facts

education: Columbia University, Claremont McKenna College

  • 1

    What is Henry Kravis known for in the business world?

    Henry Kravis is known for co-founding Kohlberg Kravis Roberts & Co. (KKR), a global investment firm known for its leveraged buyouts and private equity investments.
  • 2

    How did Henry Kravis start his career in finance?

    Henry Kravis started his career in finance by working at Bear Stearns before co-founding KKR in 1976.
  • 3

    What are some notable companies that Henry Kravis and KKR have been involved in acquiring?

    Henry Kravis and KKR have been involved in acquiring companies such as RJR Nabisco, Toys "R" Us, First Data Corporation, and many others.
  • 4

    What is Henry Kravis's approach to investing and running businesses?

    Henry Kravis is known for his hands-on approach to investing and running businesses, often working closely with management teams to drive operational improvements and strategic growth.
  • 5

    What philanthropic efforts is Henry Kravis involved in?

    Henry Kravis is involved in various philanthropic endeavors, including supporting education, healthcare, and cultural institutions through the Kravis Prize and other charitable initiatives.
Childhood & Early Life
Henry R. Kravis was born on January 6, 1944, in Tulsa, Oklahoma, US, in a Jewish family to Raymond Kravis and Bessie (née Roberts). His father was a successful Tulsa oil engineer and was once a business partner of Joseph P. Kennedy.
Henry attended ‘Eaglebrook School’ and ‘Loomis Chaffee School.’ He became vice president of the student council during his senior year at ‘Loomis Chaffee School.’
He enrolled at ‘Claremont McKenna College’ (at that time Claremont Men's College) and majored in economics. In college, he was a member of the golf team for 4 years and also associated with ‘Knickerbockers’ student service organization. He became class secretary-treasurer during his sophomore year. He completed his graduation in 1967 and then went on to obtain an MBA degree from ‘Columbia Business School’ in 1969.
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Business Career
Henry tried his hand at several jobs in the financial sector in New York City, before he joined ‘Bear Stearns’ with his first cousin George R. Roberts. The two worked under Jerome Kohlberg, Jr., the corporate finance manager of the firm. Eventually the two became partners at the firm. During the late 1960s and early 1970s, the trio made a series of "bootstrap" investments following which Jerome, Henry, and George made several buyouts. These include ‘Stern Metals’ in 1965, ‘Cobblers Industries’ in 1971, and ‘Incom,’ a division of ‘Rockwood International.’
Disagreements started brewing up between the trio (Henry, George, and Jerome) and ‘Bear Stearns’ by 1976, which resulted in departure of the three from the firm. That year the three went on to form the American global investment firm ‘Kohlberg Kravis Roberts (KKR).’ Henry and George invested $120,000 of their own capital in KKR. The ‘Hillman Family’ and the ‘Griffith family’ were two of the initial investors in the firm.
Jerome left KKR in 1987. The following year, the firm, under the leadership of Henry and George, acquired ‘RJR Nabisco’ at a cost of $31.4 billion. It marked the largest buyout ever at that time. The much publicised event paved way for the 1989 book and the 1993 made-for-TV movie, ‘Barbarians at the Gate.’ Jonathan Pryce portrayed Henry in the film.
Over the years, KKR invested in several other companies. These include ‘Regal Entertainment Group,’ ‘First Data,’ ‘Toys "R" Us,’ ‘Beatrice Foods,’ ‘Hospital Corporation of America’ (HCA) and ‘Safeway.’ KKR took over Duracell in 1988 and made it public in 1989.Their investment in the battery company proved quite profitable. A private-equity acquisition of ‘TXU’ led by KKR in 2007 is considered as the largest buyout till date.
Henry and George made an announcement in July 2017 indicating that Joseph Y. Bae and Scott C. Nuttall would take charge of the company after them.
Political, Philanthropic & Other Engagements
Henry is a supporter of the ‘Republican Party.’ He raised funds and supported President George W. Bush and John McCain. He was a key contributor to the re-election campaign of President George H. W. Bush in 1992. He worked with Lewis M. Eisenberg in setting up the ‘Republican Leadership Council’ in 1997. He also contributed $1 million to the presidential inauguration of Donald Trump in 2017.
‘Henry R. Kravis Prize in Nonprofit Leadership’ was established by him and is presented and administered by Henry, his wife, Marie-Josée, and the ‘Claremont McKenna College.’ The award is affiliated with the ‘Henry Kravis Leadership Institute’ in the college. Henry is a trustee of the college and provides funds for the ‘Henry Kravis Leadership Institute,’ which sponsors the college’s leadership studies programs.
He has also donated funds for development of extensive facilities in several schools. These include ‘Kravis Hall’ in ‘The Loomis Chaffee School,’ ‘Kravis Arena’ in ‘Deerfield Academy,’ ‘Kravis Dorm’ in ‘Eaglebrook School,’ and ‘Kravis House’ in ‘Middlesex School.’
He is a patron of New York's public television station, where he earlier served as chairman. He is a board member of the ‘Metropolitan Museum of Art’ and a trustee of the ‘Mount Sinai Medical Center.’ He, along with his wife, Marie-Josée, made a donation of $15 million for funding a professorship and setting up the ‘Center for Cardiovascular Health.’ The chair in human oncology of the cancer treatment and research institute ‘Memorial Sloan Kettering Cancer Center in New York City’ is also endowed by the couple.
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Henry served as co-chairman of the not-for-profit membership organization ‘Partnership for New York City’ formed by David Rockefeller in 1979. Henry serves as one of the board of directors of the organisation. He formed the non-profit organization ‘New York City Investment Fund’ in pursuit of creating new jobs and businesses in the city.
He presently serves as executive committee chairman of ‘The Business Council,’ ‘Chairman of Sponsors for Educational Opportunity’; a trustee of the Council on Foreign Relations in New York; vice-chairman of Rockefeller University, and co-chairman of the ‘Columbia Business School Board of Overseers.’
Family & Personal Life
Henry has married thrice. His first married Helene Diane "Hedi" Shulman, but the union ended in divorce. Thereafter he got married to a New York designer Carolyne Roehm, and the marriage lasted from 1985 to 1993. He got married for a third time to Canadian businesswoman and philanthropist Marie-Josée Drouin in 1994. His three children - Harrison S. Kravis, Robert R. Kravis, and Kimberly Kravis Schulhof were born through Hedi in 1972, 1973 and 1975 respectively. Harrison died in a car accident in 1991.
Henry has homes in New York City, Sharon (Connecticut), Paris, Meeker (Colorado), Southampton (New York), and Palm Beach (Florida). The latter is his seasonal residence while he generally resides in New York City.
Facts About Henry Kravis
Henry Kravis is known for his philanthropic efforts, having donated millions of dollars to various causes and organizations over the years.
He is an avid art collector, with a special interest in contemporary art.
Kravis is a fitness enthusiast and enjoys staying active through activities like tennis and skiing.
Despite his busy schedule, he makes time to mentor and support young entrepreneurs through various initiatives.
In addition to his success in finance, Kravis is also a dedicated family man, often spending quality time with his loved ones.
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- Henry Kravis Biography
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