Michael Krasny – Billionaire

In 1981 Michael Krasny, an out-of-work college graduate from University of Illinois with a passion for technology, placed a $3 ad in the Chicago Tribune to sell his IBM personal computer. The huge response the ad received transformed the then-28-year-old into an entrepreneur. Krasny founded Computer Discount Warehouse in 1984 as an online store for IT products. The son of an auto dealer, he took the company public in 1993 and then retired from leadership in 2001. In 2007 the company was bought out by Madison Dearborn Partners for $7.3 billion and Krasny has maintained a low profile ever since. He is listed as president of Sawdust Investment Management Corp. He is an active donor to Jewish causes and medical research through his Circle of Service Foundation.

Michael Krasny Net Worth: Michael Krasny is an American businessman who has a net worth of $1.2 billion. Michael Krasny is a self-made billionaire who secured his place among the world’s richest as a founder and former CEO of CDW Corporation. Established in 1984, the company is a provider of technical gadgets, including computers and networking equipment. Of Jewish descent, Mr. Krasny is a graduate of the University of Illinois at Urbana–Champaign. Shortly upon graduation, he began working as a Toyota car salesman at his father’s auto dealership. Not being satisfied with the job, he quit his post to take classes in computer programming. After being tight on cash, he was forced to sell his own computer. A deal which made him recognize the growing demand for computers. Soon, he was buying and reselling computer units, which eventually led to the creation of Computer Discount Warehouse in 1984. It was in 1993 when he took the company public and in 2006, he sold CDW to Madison Dearborn Partners for only $7.3 billion. Nowadays, Michael Krasny serves as the President of Sawdust Investment Management Corp. Also a great philanthropist, he has given more than $350 million in shares to charity and remains active in supporting Jewish and medical causes. Married with one child, he now resides in Highland Park, Illinois.

Source:

1. forbes

2. celebritynetworth