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In 1995, Jay Pritzker, the co-founder of Hyatt, [clarification needed] stepped down and Thomas Pritzker took control of The Pritzker Organization. [4] When Jay died in 1999, the family split the business into 11 pieces worth $1.4 billion each [4] (choosing to settle a lawsuit from two family members, who apparently received $500 million each in 2005).
Jay Pritzker Pavilion, Chicago, Illinois, USA. 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 the corporation's evolution into a multinational hospitality conglomerate.
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 vacation properties.
Thomas Pritzker One of the heirs to and the executive chairman of Hyatt Hotels, Pritzker moved up the Forbes ranking this year to No. 552 with a net worth of $5 billion.
Pritzker was born in Palo Alto, California, on January 19, 1965.He is the son of Donald Pritzker and Sue Pritzker (née Sandel). [7] [4] A member of the Pritzker family, a Jewish family of Ukrainian descent [8] prominent in business and philanthropy during the late 20th century, [9] [10] Pritzker is named after both of his paternal uncles, Jay Pritzker and Robert Pritzker. [11]
The heir to the Hyatt Hotel fortune and a prolific Democratic fundraiser, Pritzker knew the consequences all too well. ... He had given $1.2 million of his own money to support Hillary ...
In 1972, Pritzker started his career working in the family business, Hyatt Hotels, where in 1984, he rose to become Managing Director and Divisional Vice President. [5] In 1988, he left Hyatt to pursue his own business ventures, [6] including Ticketmaster. [7] In 1996, he formed Mandara Spa, [8] a chain of 72 resort spas.
In 2010, a majority stake of Joie de Vivre was purchased by Geolo Capital, the private equity firm founded by Hyatt Hotels heir John Pritzker.A $150 million fund to acquire additional hotels was established as part of the deal, with plans to acquire $300 million to $500 million in hotels over a three-to-five-year period. [3]