Jay Arthur Pritzker (August 26, 1922 – January 23, 1999) was an American businessman and member of the
Pritzker family
The Pritzker family is an American family engaged in various business enterprises and philanthropy, and one of the wealthiest families in the United States (staying in the top 10 of ''Forbes'' magazine's "America's Richest Families" list since th ...
. He was a founder of the Hyatt Corporation, having purchased the first Hyatt Hotel in 1957, and was responsible for the corporation's evolution into a multinational hospitality conglomerate.
Early life and education
Pritzker was born in Chicago, Illinois to
Jewish
Jews (, , ), or the Jewish people, are an ethnoreligious group and nation, originating from the Israelites of History of ancient Israel and Judah, ancient Israel and Judah. They also traditionally adhere to Judaism. Jewish ethnicity, rel ...
parents. Pritzker's grandparents emigrated to the United States in 1881. A son of Fanny (née Doppelt) and
Abram Nicholas Pritzker
Abram Nicholas Pritzker (January 6, 1896 – February 8, 1986) was an American businessman and attorney, and a member of the Pritzker family.
Early life and education
Abram was the son of Ukrainian Jewish immigrants, Annie P. (née Cohn) and N ...
, he had two brothers:
Donald
Donald is a Scottish masculine given name. It is derived from the Gaelic name ''Dòmhnall''.. This comes from the Proto-Celtic *''Dumno-ualos'' ("world-ruler" or "world-wielder"). The final -''d'' in ''Donald'' is partly derived from a misinter ...
University of Chicago
The University of Chicago (UChicago, Chicago, or UChi) is a Private university, private research university in Chicago, Illinois, United States. Its main campus is in the Hyde Park, Chicago, Hyde Park neighborhood on Chicago's South Side, Chic ...
Northwestern University
Northwestern University (NU) is a Private university, private research university in Evanston, Illinois, United States. Established in 1851 to serve the historic Northwest Territory, it is the oldest University charter, chartered university in ...
Northwestern University School of Law
The Northwestern University Pritzker School of Law (formerly known as Northwestern University School of Law from 1891 to 2015) is the law school of Northwestern University, a Private university, private research university. The law school is l ...
in 1947. Pritzker served in WWII as a naval aviator.
Career
Pritzker diversified the Chicago-based family business—which then consisted of the Pritzker & Pritzker law firm run by his uncle, Harry, and the investments made by his father and his uncle, Jack — into the
Marmon Group
Marmon Group is an American industrial holding company headquartered in Chicago, Illinois. Founded by Jay Pritzker and Robert Pritzker in 1953 (as Colson Corporation), it has been held by the Berkshire Hathaway group since 2013.
Marmon Group ...
holding company. With his brother, Robert, he built a portfolio of 60 diversified industrial corporations. He created the
Hyatt Hotel
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 vac ...
chain in 1957 with his brother
Donald Pritzker
Donald Nicholas Pritzker (October 31, 1932 – May 6, 1972) was an American businessman. He was a member of the Pritzker family and served as the president of Hyatt, where he helped grow the hotel chain.
Early life and education
Pritzker wa ...
and owned Braniff Airlines from 1983–1988.
In 1979 he established the
Pritzker Architecture Prize
The Pritzker Architecture Prize is an international award presented annually "to honor a living architect or architects whose built work demonstrates a combination of those qualities of talent, vision and commitment which has produced consisten ...
. In 1982, he acquired
Ticketmaster
Ticketmaster Entertainment, LLC is an American ticket sales and distribution company based in Beverly Hills, California, with operations in many countries around the world. In 2010, it merged with Live Nation under the name Live Nation Ente ...
and expanded it before selling 80% for more than $325 million to
Microsoft
Microsoft Corporation is an American multinational corporation and technology company, technology conglomerate headquartered in Redmond, Washington. Founded in 1975, the company became influential in the History of personal computers#The ear ...
co-founder
Paul Allen
Paul Gardner Allen (January 21, 1953 – October 15, 2018) was an American businessman, computer programmer, and investor. He co-founded Microsoft, Microsoft Corporation with his childhood friend Bill Gates in 1975, which was followed by the ...
in 1993.
In 1979, Pritzker received the Golden Plate Award of the
American Academy of Achievement
The American Academy of Achievement, colloquially known as the Academy of Achievement, is a nonprofit educational organization that recognizes some of the highest-achieving people in diverse fields and gives them the opportunity to meet one ano ...
Jay Pritzker Pavilion
Jay Pritzker Pavilion, also known as Pritzker Pavilion or Pritzker Music Pavilion, is a bandshell in Millennium Park in the Loop community area of Chicago in Cook County, Illinois, United States. It is located on the south side of Randolph S ...
, designed by architect
Frank Gehry
Frank Owen Gehry ( ; ; born February 28, 1929) is a Canadian-American architect and designer. A number of his buildings, including his private residence in Santa Monica, California, have become attractions.
Gehry rose to prominence in th ...
, was completed as part of
Millennium Park
Millennium Park is a public park located in the Chicago Loop, Loop Community areas of Chicago, community area of Chicago, operated by the Chicago Department of Cultural Affairs. The park, opened in July 2004, is a prominent civic center near t ...
in downtown Chicago.
Personal life
Pritzker was married to Marian "Cindy" Friend, the daughter of Illinois appellate judge
Hugo Friend
Hugo Morris Friend (July 21, 1882April 29, 1966) was an American jurist who, in his youth, competed as an athlete in the long jump and hurdles. He is best remembered as the judge who presided over the criminal trial of the Black Sox Sca ...
, for 51 years. They had five children:
*Nancy Pritzker (1948-1972), died by
suicide
Suicide is the act of intentionally causing one's own death.
Risk factors for suicide include mental disorders, physical disorders, and substance abuse. Some suicides are impulsive acts driven by stress (such as from financial or ac ...
USA Today
''USA Today'' (often stylized in all caps) is an American daily middle-market newspaper and news broadcasting company. Founded by Al Neuharth in 1980 and launched on September 14, 1982, the newspaper operates from Gannett's corporate headq ...
Thomas Pritzker
Thomas Pritzker (born June 6, 1950) is an American billionaire heir and businessman. A member of the Pritzker family, he is the chairman and chief executive officer (CEO) of the Pritzker Organization (TPO), which manages the various Pritzker fami ...
(born 1950), served as chairman of Hyatt Foundation, chairman of Marmon Holdings, and as a director of Royal Caribbean, and the Pritzker Foundation.
*
John Pritzker
John A. Pritzker (born 1953) is an American billionaire and investor. He is a member of the Pritzker family, the grandson of A.N. Pritzker and son of Jay Pritzker.
Early life and education
Pritzker was born in Chicago, Illinois, the son of Mari ...
(born 1953), runs his own
private equity
Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the co ...
firm Geolo Capital, which focuses on investments in hospitality, entertainment and health and wellness companies. In 2010, he purchased a majority interest in the
Joie de Vivre
( , ; " joy of living") is a French phrase often used in English to express a cheerful enjoyment of life, an exultation of spirit, and general happiness.
It "can be a joy of conversation, joy of eating, joy of anything one might do… And ' ...
hotel chain and later merging it with the Pomeranc family's Thompson Hotel Group.
*
Daniel Pritzker
Daniel Pritzker (born 1959) is an American billionaire heir, musician, film director, and member of the Pritzker family.
Early life and education
Pritzker was born to a Jewish family, the son of Marian (née Friend) and Jay Pritzker. He is the ...
(born 1959), musician and filmmaker who served as a trustee of the Jay Pritzker Foundation along with his wife, Karen. He also founded the Jay Pritzker Academy in Ta Chet, Cambodia; and is a prominent supporter of Providence St. Mel School in Chicago and
Tufts University
Tufts University is a private research university in Medford and Somerville, Massachusetts, United States, with additional facilities in Boston and Grafton, as well as Talloires, France. Tufts also has several Doctor of Physical Therapy p ...
. He is the owner of
Jerry Garcia
Jerome John Garcia (August 1, 1942 – August 9, 1995) was an American musician who was the lead guitarist and a vocalist with the rock band Grateful Dead, which he co-founded and which came to prominence during the counterculture of the 196 ...
Smith v. Van Gorkom
''Smith v. Van Gorkom'' 488 A.2d 858 ( Del. 1985) is a United States corporate law case of the Delaware Supreme Court, discussing a director's duty of care. It is often called the "Trans Union case". ''Van Gorkom'' is sometimes referred to as t ...
''
*
Pritzker family
The Pritzker family is an American family engaged in various business enterprises and philanthropy, and one of the wealthiest families in the United States (staying in the top 10 of ''Forbes'' magazine's "America's Richest Families" list since th ...
Jay Pritzker
Jay Arthur Pritzker (August 26, 1922 – January 23, 1999) was an American businessman and member of the Pritzker family. He was a founder of the Hyatt Corporation, having purchased the first Hyatt Hotel in 1957, and was responsible for ...