Leonard Riggio
Encyclopedia
Leonard S. Riggio is an American
businessperson
and entrepreneur
. He is the largest shareholder of the book store chain Barnes & Noble
, which is the largest specialty retailer in the world. As of May 5, 2009, the company operates 777 stores in 50 U.S. states and the District of Columbia.
, graduating in 1958, followed by New York University
. While at NYU, Riggio founded the Student Book Exchange in 1965 and turned this small book store into a leading retailer. He acquired the Barnes & Noble bookstore in New York in 1971 and adopted its name for his expanding company. Through the years, he acquired hundreds of bookstores and launched the Barnes & Noble superstore concept with an in-store coffee shop and spacious reading alcoves. In addition, Riggio launched barnesandnoble.com to compete with Amazon for on-line book sales and launched a successful video game retail operation including GameStop, Babbages Etc. and Funcoland. By the end of the twentieth century, Riggio had built Barnes & Noble into the largest book seller in the world. Since 1985, Mr. Riggio has been Chairman of the Board and "a principal beneficial owner of MBS Textbook Exchange, Inc." based in Columbia, Missouri, one of the nation's largest wholesalers of college textbooks.
in November 2000. This award is the ADL's highest honor.
, who were affected by Hurricane Katrina
. Project Home Again will spend $20 million from the Riggio Foundation to build new homes in the Gentilly
neighborhood of New Orleans. The pilot phase involves building 20 new homes on St. Bernard Avenue. Today (November 10, 2011), the program will cut the ribbon on its 101st home. In addition to rebuilding the homes, the Riggio's, through a partnership with Rooms to Go, also furnished the homes. Also today, Mayor Mitch J. Landrieu awarded the Riggios Keys to the City of New Orleans at a City Council meeting.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
businessperson
Businessperson
A businessperson is someone involved in a particular undertaking of activities for the purpose of generating revenue from a combination of human, financial, or physical capital. An entrepreneur is an example of a business person...
and entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
. He is the largest shareholder of the book store chain Barnes & Noble
Barnes & Noble
Barnes & Noble, Inc. is the largest book retailer in the United States, operating mainly through its Barnes & Noble Booksellers chain of bookstores headquartered at 122 Fifth Avenue in the Flatiron District in Manhattan in New York City. Barnes & Noble also operated the chain of small B. Dalton...
, which is the largest specialty retailer in the world. As of May 5, 2009, the company operates 777 stores in 50 U.S. states and the District of Columbia.
Career
Born in the Bronx, Riggio grew up in New York City. He attended Brooklyn Technical High SchoolBrooklyn Technical High School
Brooklyn Technical High School, commonly called Brooklyn Tech or just Tech, and also administratively as High School 430, is a New York City public high school that specializes in engineering, math and science and is the largest specialized high school for science, technology, engineering, and...
, graduating in 1958, followed by New York University
New York University
New York University is a private, nonsectarian research university based in New York City. NYU's main campus is situated in the Greenwich Village section of Manhattan...
. While at NYU, Riggio founded the Student Book Exchange in 1965 and turned this small book store into a leading retailer. He acquired the Barnes & Noble bookstore in New York in 1971 and adopted its name for his expanding company. Through the years, he acquired hundreds of bookstores and launched the Barnes & Noble superstore concept with an in-store coffee shop and spacious reading alcoves. In addition, Riggio launched barnesandnoble.com to compete with Amazon for on-line book sales and launched a successful video game retail operation including GameStop, Babbages Etc. and Funcoland. By the end of the twentieth century, Riggio had built Barnes & Noble into the largest book seller in the world. Since 1985, Mr. Riggio has been Chairman of the Board and "a principal beneficial owner of MBS Textbook Exchange, Inc." based in Columbia, Missouri, one of the nation's largest wholesalers of college textbooks.
Expansion
Over time he expanded the business, and eventually spun Barnes & Noble out of that college bookstore chain.Awards
Leonard Riggio's awards include the Americanism Award from the Anti-Defamation LeagueAnti-Defamation League
The Anti-Defamation League is an international non-governmental organization based in the United States. Describing itself as "the nation's premier civil rights/human relations agency", the ADL states that it "fights anti-Semitism and all forms of bigotry, defends democratic ideals and protects...
in November 2000. This award is the ADL's highest honor.
Personal
Leonard Riggio is the benefactor of many community organizations and charities including New York University and the Dia Beacon art museum in Beacon, New York. He also established Project Home Again to assist residents of New Orleans, LouisianaNew Orleans, Louisiana
New Orleans is a major United States port and the largest city and metropolitan area in the state of Louisiana. The New Orleans metropolitan area has a population of 1,235,650 as of 2009, the 46th largest in the USA. The New Orleans – Metairie – Bogalusa combined statistical area has a population...
, who were affected by Hurricane Katrina
Hurricane Katrina
Hurricane Katrina of the 2005 Atlantic hurricane season was a powerful Atlantic hurricane. It is the costliest natural disaster, as well as one of the five deadliest hurricanes, in the history of the United States. Among recorded Atlantic hurricanes, it was the sixth strongest overall...
. Project Home Again will spend $20 million from the Riggio Foundation to build new homes in the Gentilly
Gentilly
Gentilly may refer to:France* Gentilly, Val-de-Marne, a commune of the Val-de-Marne départementCanada* Gentilly, Quebec, a suburb of the city of Bécancour** Gentilly Nuclear Generating StationUnited States...
neighborhood of New Orleans. The pilot phase involves building 20 new homes on St. Bernard Avenue. Today (November 10, 2011), the program will cut the ribbon on its 101st home. In addition to rebuilding the homes, the Riggio's, through a partnership with Rooms to Go, also furnished the homes. Also today, Mayor Mitch J. Landrieu awarded the Riggios Keys to the City of New Orleans at a City Council meeting.