Lester Crown
Encyclopedia
Lester Crown 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. He has been a perennial member of the Forbes 400
list since 1982. Lester 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
.
from Northwestern University
(1946), followed by an MBA from Harvard University
(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.
and Children's Memorial Hospital
. 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 member of the American Committee for the Weizmann Institute of Science
and of the Tel Aviv University
's Board of Governors.
Lester Crown is also deeply 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.
, is chairwoman of the Shoah Foundation
. Another daughter, Janet Crown, is founder and owner of Burn 60 Fitness Studios. Together the family's net worth exceeds 4 billion dollars.
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
financier Henry Crown
Henry Crown
Henry Crown was an American industrialist and philanthropist. Among other things, he founded the Material Service Corporation, which merged with General Dynamics in 1959. At the time of his death, he was a billionaire...
(died 1990), who created Material Service with two brothers in 1919, which merged with General Dynamics
General Dynamics
General Dynamics Corporation is a U.S. defense conglomerate formed by mergers and divestitures, and as of 2008 it is the fifth largest defense contractor in the world. Its headquarters are in West Falls Church , unincorporated Fairfax County, Virginia, in the Falls Church area.The company has...
in 1959. He has been a perennial member of the Forbes 400
Forbes 400
The Forbes 400 or 400 Richest Americans is a list published by Forbes Magazine magazine of the wealthiest 400 Americans, ranked by net worth. The list is published annually in September, and 2010 marks the 29th issue. The 400 was started by Malcom Forbes in 1982 and treats those in the list like...
list since 1982. Lester controls family holdings, including large stakes in Maytag
Maytag
Maytag Corporation is an American home and commercial appliance company, headquartered in Newton, Iowa, that is a division of the Whirlpool Corporation.-Company history:...
, Hilton Hotels
Hilton Hotels
Hilton Hotels & Resorts is an international chain of full-service hotels and resorts founded by Conrad Hilton and now owned by Hilton Worldwide. Hilton hotels are either owned by, managed by, or franchised to independent operators by Hilton Worldwide. Hilton Hotels became the first coast-to-coast...
, Alltel
Alltel
Alltel Corporation is a wireless service provider, primarily based in the United States. Before an acquisition by Verizon Wireless, it served 34 states. After the merger, Alltel continues to serve six states, mostly in rural areas...
, Aspen Skiing Company
Aspen Skiing Company
The Aspen Skiing Company, known locally as "Ski Co", is a commercial enterprise based in Aspen, Colorado in the United States.-History:Founded in 1946 by Walter Paepcke, it operates the Aspen/Snowmass resort complex, comprising four ski areas near the town of Aspen...
, New York's Rockefeller Center
Rockefeller Center
Rockefeller Center is a complex of 19 commercial buildings covering between 48th and 51st streets in New York City, United States. Built by the Rockefeller family, it is located in the center of Midtown Manhattan, spanning the area between Fifth Avenue and Sixth Avenue. It was declared a National...
, and pro basketball's Chicago Bulls
Chicago Bulls
The Chicago Bulls are an American professional basketball team based in Chicago, Illinois, playing in the Central Division of the Eastern Conference in the National Basketball Association . The team was founded in 1966. They play their home games at the United Center...
. He also holds a stake in the New York Yankees
New York Yankees
The New York Yankees are a professional baseball team based in the The Bronx, New York. They compete in Major League Baseball in the American League's East Division...
, 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
O'Hare International Airport
Chicago O'Hare International Airport , also known as O'Hare Airport, O'Hare Field, Chicago Airport, Chicago International Airport, or simply O'Hare, is a major airport located in the northwestern-most corner of Chicago, Illinois, United States, northwest of the Chicago Loop...
, 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
Aspen Institute
The Aspen Institute is an international nonprofit organization founded in 1950 as the Aspen Institute of Humanistic Studies. The organization is dedicated to "fostering enlightened leadership, the appreciation of timeless ideas and values, and open-minded dialogue on contemporary issues." The...
. He is the chairman of the Commercial Club of Chicago
Commercial Club of Chicago
The Commercial Club of Chicago is an anti-labor club resulted from the 1907 merger of two predecessor Chicago clubs: the Merchants Club and the Commercial Club . Its most active members included George Pullman, Marshall Field, Cyrus McCormick, George Armour, Frederic Delano, Sewell Avery, Rufus...
and Chicago Council on Global Affairs. His current hometown is Wilmette, Illinois
Wilmette, Illinois
Wilmette is a village in New Trier Township, Cook County, Illinois, United States. It is located north of Chicago's downtown district and has a population of 27,651. Wilmette is considered a bedroom community in the North Shore district...
.
Education and career
Crown received his BS in chemical engineeringChemical engineering
Chemical engineering is the branch of engineering that deals with physical science , and life sciences with mathematics and economics, to the process of converting raw materials or chemicals into more useful or valuable forms...
from Northwestern University
Northwestern University
Northwestern University is a private research university in Evanston and Chicago, Illinois, USA. Northwestern has eleven undergraduate, graduate, and professional schools offering 124 undergraduate degrees and 145 graduate and professional degrees....
(1946), followed by an MBA from Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
(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
Empire State Building
The Empire State Building is a 102-story landmark skyscraper and American cultural icon in New York City at the intersection of Fifth Avenue and West 34th Street. It has a roof height of 1,250 feet , and with its antenna spire included, it stands a total of 1,454 ft high. Its name is derived...
. He has served as the president and chair of General Dynamics, and currently sits on the Board of Directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
of Maytag. He has been President of Henry Crown & Co. since 1969. He is a former director of Continental Illinois bank, Trans World Airlines
Trans World Airlines
Trans World Airlines was an American airline that existed from 1925 until it was bought out by and merged with American Airlines in 2001. It was a major domestic airline in the United States and the main U.S.-based competitor of Pan American World Airways on intercontinental routes from 1946...
, and Esmark.
Affiliations
Affiliations include: Trusteeship of Northwestern University, the Aspen Institute and the Michael Reese Foundation. Crown is on the Board of Directors of Lyric OperaLyric Opera of Chicago
Lyric Opera of Chicago is one of the leading opera companies in the United States. It was founded in Chicago in 1952, under the name 'Lyric Theatre of Chicago' by Carol Fox, Nicolà Rescigno and Lawrence Kelly, with a season that included Maria Callas's American debut in Norma...
and Children's Memorial Hospital
Children's Memorial Hospital
Children's Memorial Hospital in Chicago, Illinois is a pediatric hospital. The main hospital is located in the Lincoln Park neighborhood on the north side of the city. With more than 1,100 physicians on staff and approximately 4,000 employees, Children’s Memorial focuses on 70 specialties in 17...
. He is a member of Lake Shore Country Club, Northmoor Country Club, Standard Club
Standard Club
The Standard Club is a Jewish country club originally located in Atlanta, Georgia which later moved to suburban areas in Metro Atlanta.-History:...
, Economic Club of Chicago, and Northwestern University's John Evans Club. He is a member of the American Committee for the Weizmann Institute of Science
Weizmann Institute of Science
The Weizmann Institute of Science , known as Machon Weizmann, is a university and research institute in Rehovot, Israel. It differs from other Israeli universities in that it offers only graduate and post-graduate studies in the sciences....
and of the Tel Aviv University
Tel Aviv University
Tel Aviv University is a public university located in Ramat Aviv, Tel Aviv, Israel. With nearly 30,000 students, TAU is Israel's largest university.-History:...
's Board of Governors.
Lester Crown is also deeply involved with The Crown Center for Middle East Studies at Brandeis University
Brandeis University
Brandeis University is an American private research university with a liberal arts focus. It is located in the southwestern corner of Waltham, Massachusetts, nine miles west of Boston. The University has an enrollment of approximately 3,200 undergraduate and 2,100 graduate students. In 2011, it...
. 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.
Family
Among his 7 children are board members of several major cultural institutions. His daughter, Susan CrownSusan Crown
Susan Crown is an executive, foundation chair, and community activist in Chicago.Crown is Chairman of the Executive Committee of Illinois Tool Works, a diversified manufacturer of engineered products and specialty systems...
, is chairwoman of the Shoah Foundation
Shoah Foundation
Shoah foundations are organizations that are formed to further the remembrance of the Holocaust of World War II. There are currently two major foundations that are internationally active.-Major Shoah Foundations:...
. Another daughter, Janet Crown, is founder and owner of Burn 60 Fitness Studios. Together the family's net worth exceeds 4 billion dollars.
Political views
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."