Steven Ferencz Udvar-Házy (; born 1946), also known as István or Steve Hazy, is a Hungarian-American billionaire businessman and the executive chairman of

Air Lease Corporation Air Lease Corporation (ALC) is an American aircraft leasing company founded in 2010 and headed by Steven F. Udvar-Házy. Air Lease purchases new commercial aircraft through direct orders from Boeing, Airbus, Embraer and ATR, and leases them to ...

. He is the former chairman and CEO of

International Lease Finance Corporation The International Lease Finance Corporation (ILFC) was an aircraft lessor headquartered in the Constellation Place in Century City, Los Angeles, California, US. It was the world's largest aircraft lessor by value, though ILFC's rival, Genera ...

(ILFC), one of the two largest aircraft lessors in the world (the other being

AerCap AerCap Holdings N.V. is an American-Irish aviation leasing company headquartered in Dublin, Ireland, with offices around the world. AerCap is listed on the NYSE with the ticker 'AER'. It became the largest aviation leasing company in the world ...

). ''

Forbes ''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...

'' magazine's 2021 list of

The World's Billionaires ''The World's Billionaires'' is an annual ranking of people who are billionaires, i.e., they are considered to have a net worth of US$1 billion or more, by the American business magazine ''Forbes''. The list was first published in March 1987. ...

estimated his net worth at

US$ The United States dollar (Currency symbol, symbol: Dollar sign, $; ISO 4217, currency code: USD) is the official currency of the United States and International use of the U.S. dollar, several other countries. The Coinage Act of 1792 introdu ...

4 billion.

Early life

The Udvar-Házy family moved to the US in 1958, fleeing the

Soviet occupation of Hungary During World War II, the Soviet Union occupied and annexed several countries effectively handed over by Nazi Germany in the secret Molotov–Ribbentrop Pact of 1939. These included the eastern regions of Poland (incorporated into three differe ...

. Hazy attended

University High School University High School may refer to: Australia * University High School, Melbourne, Victoria Canada * University Hill Secondary School, Vancouver, British Columbia United States Arizona * University High School (Tolleson) * University High Sc ...

in Los Angeles, and the

University of California, Los Angeles The University of California, Los Angeles (UCLA) is a public university, public Land-grant university, land-grant research university in Los Angeles, California, United States. Its academic roots were established in 1881 as a normal school the ...

Career

Udvar-Házy was in his 20s during the later part of transition from

propeller A propeller (often called a screw if on a ship or an airscrew if on an aircraft) is a device with a rotating hub and radiating blades that are set at a pitch to form a helical spiral which, when rotated, exerts linear thrust upon a working flu ...

aircraft to jets during the mid to late 1960s, and realized that the higher capital investment required to purchase jet aircraft created an opportunity for a leasing business. He founded ILFC with fellow Hungarian

Leslie Gonda Leslie Gonda (August 20, 1919 – March 16, 2018) was a Hungarian-born American businessman, philanthropist, and Holocaust survivor. He was the co-founder (with his son Louis Gonda) of International Lease Finance Corporation. Early life Gonda wa ...

and his son

Louis Gonda Louis L. Gonda (born 1949/1950) is an American businessman, active in commercial real estate and venture capital. Early life He is the son of Leslie Gonda, a Hungarian-born American businessman and Holocaust survivor, and his wife Susan. He has ...

in 1973, leasing a single used

Douglas DC-8 The Douglas DC-8 (sometimes McDonnell Douglas DC-8) is an early long-range Narrow-body aircraft, narrow-body jetliner designed and produced by the American Douglas Aircraft Company. Work began in 1952 towards the United States Air Force's (USA ...

Aeroméxico Aerovías de México, S.A. de C.V. () operating as Aeroméxico (; styled as AM), is the flag carrier of Mexico based in Mexico City. It operates scheduled services to more than 90 destinations in Mexico, North, South and Central America, the Ca ...

. He left ILFC in February 2010 and founded

. In 2016,

Prime Minister of Hungary The prime minister of Hungary () is the head of government of Hungary. The prime minister and the government of Hungary, Cabinet are collectively accountability, accountable for their policies and actions to the National Assembly (Hungary), Par ...

Viktor Orbán Viktor Mihály Orbán (; born 31 May 1963) is a Hungarian lawyer and politician who has been the 56th prime minister of Hungary since 2010, previously holding the office from 1998 to 2002. He has also led the Fidesz political party since 200 ...

presented Udvar-Házy the Grand Cross of the Order of Merit of Hungary for his achievements in airline industry.

Philanthropy

Udvar-Házy gave a US$66 million grant to the

Smithsonian Institution The Smithsonian Institution ( ), or simply the Smithsonian, is a group of museums, Education center, education and Research institute, research centers, created by the Federal government of the United States, U.S. government "for the increase a ...

that allowed the U.S.

National Air and Space Museum The National Air and Space Museum (NASM) of the Smithsonian Institution is a museum in Washington, D.C., in the United States, dedicated to history of aviation, human flight and space exploration. Established in 1946 as the National Air Museum, ...

to build the

Steven F. Udvar-Hazy Center The Steven F. Udvar-Hazy Center, also called the Udvar-Hazy Center, is the Smithsonian National Air and Space Museum (NASM)'s annex at Dulles International Airport in the Chantilly area of Fairfax County, Virginia. It holds numerous exhibits, ...

annex at

Washington Dulles International Airport Washington Dulles International Airport ( ) – commonly known by its former name of Dulles International Airport, by its airport code of IAD, or simply as Dulles Airport – is an international airport in the Eastern United States, located w ...

. The annex houses more than 120 aircraft and 140 space-exploration exhibits as of 2006, and also includes the

Space Shuttle Discovery Space Shuttle ''Discovery'' (Orbiter Vehicle Designation: OV-103) is a retired American Space Shuttle orbiter. The spaceplane was one of the Space Shuttle orbiter, orbiters from NASA's Space Shuttle program and the third of five fully opera ...

. Plans call for eventually installing over 300 aircraft. The Udvar-Házy family contributed funds to build the Christine and Steven F. Udvar-Hazy Library and Learning Center at

Embry–Riddle Aeronautical University Embry-Riddle Aeronautical University (ERAU) is a private university focused on aviation and aerospace programs based in Daytona Beach, Florida, and Prescott, Arizona, United States. It is the largest accredited university system specializing in ...

's Prescott Campus. The business building at

Utah Tech University Utah Tech University (UT), formerly named Dixie State University (DSU), is a polytechnic four-year public university in St. George, Utah, in southwest Utah (also known by the longtime nickname of " Utah's Dixie" region). UT offers doctoral degre ...

St. George, Utah St. George or Saint George is a city in and the county seat of Washington County, Utah, United States. Located in southwestern Utah on the Arizona border, it is the principal city of the St. George metropolitan statistical area (MSA). The cit ...

is named after his parents, Erno and Etel Udvar-Házy.

Personal life

He is married with four children and lives in

Beverly Hills Beverly Hills is a city located in Los Angeles County, California, United States. A notable and historic suburb of Los Angeles, it is located just southwest of the Hollywood Hills, approximately northwest of downtown Los Angeles. Beverly Hil ...

, California.

References

1946 births Living people American billionaires American philanthropists Hungarian emigrants to the United States Businesspeople from Los Angeles University of California, Los Angeles alumni Hungarian billionaires Businesspeople from Budapest

Early life

Career

Philanthropy

Personal life

See also

References

Further reading