Abram Nicholas Pritzker (January 6, 1896 – February 8, 1986) was an American businessman and member of the
Pritzker family.
Early life and education
Abram was the son of
Ukrainian Jewish immigrants, Annie P. (née Cohn) and Nicholas J. Pritzker. His father left
Kyiv for
Chicago in 1881 and worked first as a pharmacist and then, after graduating from
DePaul University College of Law, as a lawyer.
[Ford S. Worthy]
THE PRITZKERS UNVEILING A PRIVATE FAMILY
''CNN Money'' April 25, 1988 His father wrote a small book that has been passed down the generations; the theme of the book is "Your only immortality is the impact you have on your successors."
Abram graduated from
Harvard Law School
Harvard Law School (Harvard Law or HLS) is the law school of Harvard University, a private research university in Cambridge, Massachusetts. Founded in 1817, it is the oldest continuously operating law school in the United States.
Each class ...
.
Career
Abram joined his father's law firm, Pritzker & Pritzker, along with his brothers,
Harry and
Jack.
Harry specialized in criminal law, Abram (called Abe and later A.N.) specialized in business law, and Jack in real estate law. In the 1930s, he left the law practice and branched out with his brother Jack, investing in real estate and small companies, mostly in the
Chicago area.
Harry continued to run the law firm, which eventually became an in-house firm catering solely to the needs of the Pritzker family and its business.
The Pritzker brothers were very successful and amassed a considerable fortune. They shielded their earnings from taxes through a series of trusts, which enabled them to distribute the money as they chose.
Philanthropy
Pritzker's philanthropic endeavors include funding the
Pritzker School of Medicine at the
University of Chicago. He also set up a trust fund for the
A.N. Pritzker Elementary School, which he had attended when it was called the Wicker Park Elementary School.
Personal life
Pritzker had three sons:
Jay Pritzker,
Robert Pritzker, and
Donald Pritzker. His sons continued to grow the family business, eventually buying the
Hyatt
Hyatt Hotels Corporation, commonly known as Hyatt Hotels & Resorts, is an American multinational hospitality company headquartered in the Riverside Plaza area of Chicago that manages and franchises luxury and business hotels, resorts, and vacat ...
House hotel in
Los Angeles in 1957 and forming the cornerstone of their hotel chain.
His son Robert created a conglomerate of a multitude of manufacturing companies that grew into the multibillion-dollar
Marmon Group. Marmon was diversified to include manufacturing concerns ranging from lumber to railroad boxcars, and travel industry staples. It composed half of the family's wealth. On December 25, 2007, it was announced that Warren Buffett, through
Berkshire Hathaway, would purchase 60% of the Marmon Group from the Pritzkers for $4.5 billion.
New York Times: "Rapidly, Buffett Secures a Deal for $4.5 Billion" By Vikas Bajaj
December 26, 2007
The Pritzkers also own a large stake in Royal Caribbean. TransUnion was a subsidiary of The Marmon Group until January 2005, but is now an independent, privately held company.
One of his granddaughters is actress Liesel Pritzker. Another is former United States Secretary of Commerce Penny Pritzker. One of his grandsons is Daniel Pritzker, the founder of the Chicago band Sonia Dada. Another grandson, J.B. Pritzker was elected Democratic Governor of Illinois in November 2018 replacing Republican Bruce Rauner
Bruce Vincent Rauner (; born February 18, 1956) is an American businessman, philanthropist, and politician who served as the 42nd governor of Illinois from 2015 to 2019. Prior to his election, he was the chairman of R8 Capital Partners and chai ...
.
References
{{DEFAULTSORT:Pritzker, A.N.
1896 births
1986 deaths
20th-century American businesspeople
Harvard Law School alumni
A. N.
American people of Ukrainian-Jewish descent
20th-century American philanthropists
20th-century American Jews