Howard F. Ahmanson, Sr
Encyclopedia
Howard F. Ahmanson, Sr. (1906–1968), born in Omaha, Nebraska
.
Financier
and founder of an insurance
and savings and loan association, H.F. Ahmanson & Co., Howard F. Ahmanson, Sr. was also a philanthropist
who made his fortune during the Great Depression
selling fire insurance for property under foreclosure
. He also bought real estate and invested in oil. Enlisting in the Navy in 1943, he spent a year in Washington, DC as a procurement officer. After returning to Los Angeles in 1945, he began investing in savings and loans. In 1947, he bought Home Building and Loan (later known as Home Savings). In an era when state and federal regulations limited branching, Ahmanson and his top executive, Kenneth D. Childs took advantage of the home construction
and real estate
boom around Los Angeles
to make Home Savings and Loan the largest thrift in the United States.
Involved with the California Republican Party since the mid-1930s, Ahmanson began to take a more active role in 1954 when his long-time friend Goodwin Knight ran for governor. With the national Republican convention slated to be held in San Francisco in 1956 and the possibility that two favorite sons—Knight and Richard Nixon—might be running for president, Ahmanson became the focal point for a bitter fight within the party when Knight picked him to become vice chairman of the party. Although Ahmanson was elected to the position, the fight further poisoned the relationship between Knight and Nixon. After a heart attack, Ahmanson was forced to relinquish the position and withdraw from political leadership.
Beginning in the mid-1950s, Ahmanson began to play a major role in the cultural life of Los Angeles. He served on the board of the Museum of Science and Industry, helped found the support organization for the Los Angeles County Art Institute (also known as the Otis Art Institute), gave $2 million to help fund the construction of the Los Angeles County Museum of Art, provided a major gift to support construction of the Music Center, and provided generous funding to his alma mater, the University of Southern California. He gave $1 million in 1962 to help fund the development of a biosciences research center.
Ahmanson also influenced the cultural life of southern California when he hired the artist Millard Sheets in 1953 to begin designing Home Savings' branches. Sheets integrated the work of local muralists, ceramic and glass artists into the design of the buildings.
A successful yachtsman, Ahmanson bought his first racing vessel in 1948 and named it Sirius. For years he sailed out of Newport Harbor. He was a multiple winner of the San Diego to Acapulco Race. In 1961, he and his crew aboard the Sirius II won the Transpac race to Honolulu. His crew included USC President Norman Topping, as well as the architect William Pereira.
Married in 1933 to Dorothy Johnston Grannis, Ahmanson had one son, Howard F. Ahmanson, Jr. Grannis and Ahmanson divorced in 1962. In 1965, he married Caroline Leonetti, a well-known charm and fashion expert who was a regular on the Art Linkletter show.
Ahmanson died on June 17, 1968 while traveling with his wife and son in Belgium. Numerous heirs inherited part of his fortune. A major portion of his assets went to the Ahmanson Foundation in Los Angeles.
He's buried at Forest Lawn Memorial Park, Glendale
.
Omaha, Nebraska
Omaha is the largest city in the state of Nebraska, United States, and is the county seat of Douglas County. It is located in the Midwestern United States on the Missouri River, about 20 miles north of the mouth of the Platte River...
.
Financier
Financier
Financier is a term for a person who handles typically large sums of money, usually involving money lending, financing projects, large-scale investing, or large-scale money management. The term is French, and derives from finance or payment...
and founder of an insurance
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
and savings and loan association, H.F. Ahmanson & Co., Howard F. Ahmanson, Sr. was also a philanthropist
Philanthropist
A philanthropist is someone who engages in philanthropy; that is, someone who donates his or her time, money, and/or reputation to charitable causes...
who made his fortune during the Great Depression
Great Depression
The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s...
selling fire insurance for property under foreclosure
Foreclosure
Foreclosure is the legal process by which a mortgage lender , or other lien holder, obtains a termination of a mortgage borrower 's equitable right of redemption, either by court order or by operation of law...
. He also bought real estate and invested in oil. Enlisting in the Navy in 1943, he spent a year in Washington, DC as a procurement officer. After returning to Los Angeles in 1945, he began investing in savings and loans. In 1947, he bought Home Building and Loan (later known as Home Savings). In an era when state and federal regulations limited branching, Ahmanson and his top executive, Kenneth D. Childs took advantage of the home construction
Home construction
Home construction is the process of constructing a home. Beginning with simple pre-historic shelters, home construction techniques have evolved to produce the vast multitude of living accommodations available today. Different levels of wealth and power have warranted various sizes, luxuries, and...
and real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
boom around Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
to make Home Savings and Loan the largest thrift in the United States.
Involved with the California Republican Party since the mid-1930s, Ahmanson began to take a more active role in 1954 when his long-time friend Goodwin Knight ran for governor. With the national Republican convention slated to be held in San Francisco in 1956 and the possibility that two favorite sons—Knight and Richard Nixon—might be running for president, Ahmanson became the focal point for a bitter fight within the party when Knight picked him to become vice chairman of the party. Although Ahmanson was elected to the position, the fight further poisoned the relationship between Knight and Nixon. After a heart attack, Ahmanson was forced to relinquish the position and withdraw from political leadership.
Beginning in the mid-1950s, Ahmanson began to play a major role in the cultural life of Los Angeles. He served on the board of the Museum of Science and Industry, helped found the support organization for the Los Angeles County Art Institute (also known as the Otis Art Institute), gave $2 million to help fund the construction of the Los Angeles County Museum of Art, provided a major gift to support construction of the Music Center, and provided generous funding to his alma mater, the University of Southern California. He gave $1 million in 1962 to help fund the development of a biosciences research center.
Ahmanson also influenced the cultural life of southern California when he hired the artist Millard Sheets in 1953 to begin designing Home Savings' branches. Sheets integrated the work of local muralists, ceramic and glass artists into the design of the buildings.
A successful yachtsman, Ahmanson bought his first racing vessel in 1948 and named it Sirius. For years he sailed out of Newport Harbor. He was a multiple winner of the San Diego to Acapulco Race. In 1961, he and his crew aboard the Sirius II won the Transpac race to Honolulu. His crew included USC President Norman Topping, as well as the architect William Pereira.
Married in 1933 to Dorothy Johnston Grannis, Ahmanson had one son, Howard F. Ahmanson, Jr. Grannis and Ahmanson divorced in 1962. In 1965, he married Caroline Leonetti, a well-known charm and fashion expert who was a regular on the Art Linkletter show.
Ahmanson died on June 17, 1968 while traveling with his wife and son in Belgium. Numerous heirs inherited part of his fortune. A major portion of his assets went to the Ahmanson Foundation in Los Angeles.
He's buried at Forest Lawn Memorial Park, Glendale
Forest Lawn Memorial Park, Glendale
Forest Lawn Memorial Park is a privately owned cemetery in Glendale, California. It is the original location of Forest Lawn, a chain of cemeteries in Southern California. The land was formerly part of Providencia Ranch.-History:...
.