Penny Sue Pritzker (born May 2, 1959) is an American billionaire businesswoman, entrepreneur and civic leader. President Barack Obama nominated Pritzker as United States Secretary of Commerce. After being confirmed by a Senate vote of 97-1, she became the 38th person to hold that position. Pritzker was an early supporter of Obama’s presidential candidacy, having been a friend of the Obama family since their time in Chicago.
Pritzker spent her early career in business. She worked her way up through the Pritzker family business, eventually being appointed one of three successors to her uncle, Jay Pritzker. She is the founder of PSP Capital Partners and Pritzker Realty Group. She is also co-founder of Artemis Real Estate Partners. As of October 2015, Forbes estimated her net worth at US $2.4 billion. In 2009, Forbes named Pritzker one of the 100 most powerful women in the world.
Early life
Pritzker was born in Chicago in 1959, the daughter of Sue (née Sandel) and Donald N. Pritzker. Pritzker is a member of the Pritzker family of Chicago, a wealthy and influential business family. Donald Pritzker was one of the co-founders of Hyatt hotels. Don moved the family to Palo Alto where business for the Hyatt Hotels began to grow. The family welcomed two more sons, Tony (born 1961) and J.B. (born 1965). Young Penny would accompany her father to the hotels and check the cleanliness of the ladies restrooms. In 1972, Don died suddenly of a heart attack when Penny was 13 years old. Following Don’s death, Sue began battling depression, requiring Penny to at times care for her mother and her younger brothers. At 16, Penny wrote a letter to her gradfather, and head of the family business empire, A.N. Pritzker, in which she asked why he talked business with the men in the family and not with her. Finally realizing Penny’s interest in business, A.N. provided her with a summer course in accounting.
Penny attended Castilleja School until 1977. She earned an AB in Economics from Harvard College in 1981. The following year, Penny’s mother died after falling out of the passenger side of a tow truck. Penny returned to school, earning both a JD and an MBA from Stanford University in 1985.
| Penny Pritzker | |
|---|---|
| 38th United States Secretary of Commerce | |
| In office June 26, 2013 – January 20, 2017 |
|
| President | Barack Obama |
| Deputy | Patrick Gallagher (Acting) Bruce Andrews |
| Preceded by | Cameron Kerry (Acting) |
| Succeeded by | Wilbur Ross |
| Personal details | |
| Born | Penny Sue Pritzker May 2, 1959 Chicago, Illinois, U.S. |
| Political party | Democratic |
| Spouse(s) | Bryan Traubert |
| Children | 2 |
| Education | Harvard University (BA) Stanford University (JD, MBA) |
American entrepreneur, philanthropist and business executive Penny Pritzker has an estimated net worth of $1.85 billion as of March 2013 according to Forbes. Pritzker was named by Forbes as one of the world’s 100 most powerful women in 2009 and in 2012, she was named as one of 100 most powerful Chicagoans by Chicago magazine. Born on May 2, 1959 in Chicago Illinois, Pritzker is the daughter of Donald N. Pritzker who is best recognized as one of the founders of Hyatt Hotels. She earned her bachelor’s degree in economics from Harvard University. Subsequently, she attended Stanford University where she completed her JD and MBA degree.
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