Lester Crown

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Lester Crown
Born June 7, 1925 (1925-06-07) (age 93)
Nationality United States
Known for General Dynamics
Net worth US$2.8 billion (1998)[1]
Spouse(s) Renee Schine
Children Steven Crown
James Crown
Patricia Crown
Susan Crown Kunkler
Daniel Crown
Sara Crown Star
Janet Crown Peterson
Parent(s) Rebecca Kranz
Henry Crown
Family G. David Schine (brother-in-law)
Junius Myer Schine (father-in-law)
Gunnar Peterson (former son-in-law)

Lester Crown (born June 7, 1925) is an American businessman and is the son of Chicago financier Henry Crown (died 1990), who created Material Service with two brothers in 1919, which merged with General Dynamics in 1959.[2]

Crown has been a perennial member of the Forbes 400 list since 1982. He controls family holdings, including large stakes in Maytag, Hilton Hotels, Alltel, Aspen Skiing Company, New York's Rockefeller Center, and pro basketball's Chicago Bulls. He also holds a stake in the New York Yankees, being a Partner since 1973. Presumably, the large stake held in Bank One at the time of the 2003 Forbes 400 listing has converted to JPMorgan Chase stock and was derived from an interest in First Chicago Bank, which was enumerated in the 1998 Forbes 400 list as First Chicago NBD shares. Recent achievements include brokering a controversial agreement to expand O'Hare International Airport, and spearheading the funding of the new Cook County Hospital (Stroger Hospital). He is a major benefactor of Jewish charities, universities and the Aspen Institute. He is the chairman of the Commercial Club of Chicago and Chicago Council on Global Affairs. His current hometown is Wilmette, Illinois.

Education and career[edit]

Crown was born to a Jewish family[3] and received a B.S. in chemical engineering from Northwestern University in 1946 and an M.B.A. from Harvard University in 1949. He was President of Marblehead Lime Co as well as the president of Royal Crown (RC) Cola. from 1956 to 1966. During the 1950s, the Crown family had a controlling interest in New York's Empire State Building. He has served as the president and chair of General Dynamics, and currently sits on the Board of Directors of Maytag. He has been President of Henry Crown & Co. since 1969. He is a former director of Continental Illinois bank, Trans World Airlines, and Esmark.

Affiliations[edit]

Affiliations include: Trusteeship of Northwestern University, the Aspen Institute and the Michael Reese Health Trust. Crown is on the Board of Directors of Lyric Opera and Children's Memorial Hospital, and the America Abroad Media advisory board.[4] He is a member of Lake Shore Country Club, Northmoor Country Club, Standard Club, Economic Club of Chicago, and Northwestern University's John Evans Club. He is a Deputy Chair of the International Board of the Weizmann Institute of Science in Israel and a member of the Tel Aviv University's Board of Governors. Crown is also involved with The Crown Center for Middle East Studies at Brandeis University. He donated the initial $10 million gift that started the center in 2005. He and the rest of his family are involved with the Crown Fellows program in American History at Brandeis, as well.

Political views[edit]

In a 2008 letter to "a large number of Jewish voters", Crown expressed his support for Barack Obama, the Democratic Presidential Candidate:

While my involvement in politics is motivated by a variety of issues, there is one issue that is fundamental: My deep commitment to Israel and to a strong U.S.-Israel relationship that strengthens both Israel's security and its efforts to seek peace," Crown wrote. "I am writing to share with you my confidence that Senator Barack Obama's stellar record on Israel gives me great comfort that, as President, he will be the friend to Israel that we all want to see in the White House - stalwart in his defense of Israel's security, and committed to helping Israel achieve peace with its neighbors."[5]

In April 2013 Crown was one of 100 prominent American Jews who sent a letter to Israeli Prime Minister Benjamin Netanyahu urging him to "work closely" with Secretary of State John Kerry "to devise pragmatic initiatives, consistent with Israel's security needs, which would represent Israel's readiness to make painful territorial sacrifices for the sake of peace."[6]

Awards[edit]

Lester Crown was inducted as a Laureate of The Lincoln Academy of Illinois and awarded the Order of Lincoln (the State's highest honor) by the Governor of Illinois in 1999 in the area of Business and Social Service.[7]

Personal life[edit]

In 1950, he married Renée Schine.[8] His wife is the sister of producer G. David Schine[9] and daughter of theater and hotel magnate, Junius Myer Schine. They have seven children: A. Steven Crown, James Crown, Patricia Crown, Susan Crown Kunkler, Daniel Crown, Sara Crown Star, and Janet Crown Peterson.[10][11][12]

Their son James is the President of Henry Crown & Co.[13] A daughter, Janet, is founder and owner of Burn 60 Fitness Studios[14] and is divorced from celebrity trainer Gunnar Peterson.[15] Among his seven children are board members of several major cultural institutions. Another daughter, Susan, is chairwoman of the Shoah Foundation. Together the family's net worth exceeds four billion dollars.[16]

See also[edit]

References[edit]

  1. ^ https://www.forbes.com/forbes/1998/0706/6201210a.html
  2. ^ #158 Lester Crown & family
  3. ^ Jerusalem Post: "The world's 50 Richest Jews: 31-40" September 7, 2010
  4. ^ https://web.archive.org/web/20140716114921/http://americaabroadmedia.org/user/41/Lester_Crown. Archived from the original on July 16, 2014. Retrieved June 16, 2014.  Missing or empty |title= (help)
  5. ^ article Archived January 30, 2008, at the Wayback Machine.
  6. ^ Hareetz: "100 American Jewish leaders urge Netanyahu to show readiness to make 'painful territorial sacrifices'" by Chemi Shalev April 3, 2013
  7. ^ "Laureates by Year - The Lincoln Academy of Illinois". The Lincoln Academy of Illinois. Retrieved 2016-03-07. 
  8. ^ Crain's Chicago Business: "Happy 90th birthday, Lester Crown" by Steven R. Strahler May 29, 2015
  9. ^ New York Daily news: "Plane crash of Cohn Pal Has Rumours Flying" by George Rush, Joanna Molloy, and Baird Jones June 21, 1996
  10. ^ Chicago Tribune: "Crown Jewels - According To Forbes, Lester Crown Is Chicago's Richest Man. According To Lester Crown, It's Not Important Whether He Is Or Not" By Margaret Carroll February 03, 1988
  11. ^ Wilmette Life: "Lester Crown was honored by the Harvard Business School Club of Chicago" 20 Jun 2002 | Photo daughter, Patricia Crown, honoree Lester Crown of Wilmette, and wife, Renee Crown, with son-in-law William Kunkler, daughter, Susan Crown Kunkler, daughter Janet Crown Peterson and son-in-law Gunnar Peterson. Lester Crown was honored by the Harvard Business School Club of Chicago
  12. ^ Chicago Tribune: "Sara Crown And James Star Exchange Wedding Vows" January 01, 1989
  13. ^ Crain's Chicago Business: "Crown family" October 15, 2005
  14. ^ Wehoville Magazine: "Gym Queen Janet Crown Says ‘Burn Baby Burn,’ 60 Minutes at a Time" By Michael Jortner March 03, 2017
  15. ^ Los Angeles Times: "Intruder in Beverly Hills home stabbed, arrested" by Carla Hall December 08, 2006
  16. ^ Article[dead link]

External links[edit]