Jeffrey Lorberbaum (born October 24, 1954) is an American billionaire and the Chairman and Chief Executive Officer of Calhoun, Georgia-based Mohawk Industries, one of the world’s largest flooring companies.
Early life and education
Jeffrey S. Lorberbaum is the son of Shirley and Alan Lorberbaum, Jewish migrants to the South from New York City. In 1957, his parents founded Aladdin Mills, Inc., in Dalton, Georgia. Aladdin initially produced bathmats and rugs for discount retailers and during the 1970s expanded into tufted carpet manufacturing, eventually growing the business into one of the largest carpet manufacturers in the country. He has one sister, Suzanne Helen of Denver, and one brother, Mark Lorberbaum of Miami Beach. He graduated with a B.A. from the University of Denver.
Career
Jeffrey joined the family business, carpet and rug manufacturer Aladdin Mills, in 1976, after graduating from the University of Denver. Lorberbaum held a number of leadership positions, eventually serving as Vice President of Operations from 1986 to 1994. In 1994, Aladdin merged with Mohawk Industries, which had gone public in 1992, creating one of the largest flooring manufacturers in the United States – and his father became Mohawk’s largest shareholder. Jeffrey and Alan Lorberbaum then joined Mohawk’s Board of Directors. In 1995, Lorberbaum became president of Mohawk; and, in 2001, he became CEO. Since then he has grown the company to $5.8 billion in revenues (2012) partly through acquisitions that expanded the scope of the company into hard surface flooring (ceramic tile, laminate, hard wood) and provided access to new geographies. In 2002, Lorberbaum orchestrated the $1.8 billion purchase of Dal-Tile of Dallas making Mohawk the world’s largest tile-maker. In 2005, Mohawk purchased Unilin, a Belgium-based maker of laminate flooring and MDF board (a composite used in do-it-yourself furniture) for $2.6 billion.
| Jeffrey S. Lorberbaum | |
|---|---|
| Born | October 24, 1954 |
| Nationality | American |
| Alma mater | B.A. University of Denver |
| Occupation | Businessman |
| Known for | Chairman and CEO of Mohawk Industries |
| Net worth |  US$2.2 billion (August 2016) |
| Spouse(s) | Sarah Lorberbaum |
| Children | 2 Lauren Lorberbaum-Donohue Brian Lorberbaum |
| Parent(s) | Alan Lorberbaum Shirley Lorberbaum |
Jeffrey Lorberbaum Net Worth: Jeffrey Lorberbaum is an American businessman who has a net worth of $1.6 billion. Jeffrey Lorberbaum joined America’s richest circles as the Chairman and CEO of Mohawk industries, one of the largest flooring companies in the world. He debuted on to the US’s 400 richest list as a result of the increasing value of his 15% stake in listed Mohawk Industries. Lorberbaum made his career beginnings in the mid-1970s, when he joined his father’s company Aladdin Mills, a maker of bath mats. Later on, he took over the business completely, serving as the president and CEO until the family sold Aladdin to Mohawk in 1994. Not a full decade later, in 2001, Lorberbaum took the helm of Mohawk. While serving as CEO, he has managed to expand the company’s operations into hard surface flooring. In late 2012, Mohawk revealed the purchase of Italian ceramic-tile maker, the Marazzi Group, for some $1.5 billion. Mohawk’s stake price has increased drastically in the past 12 months.
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