The Pritzker Family stands as a prominent American family, renowned for their significant impact on both business and philanthropy throughout the latter half of the 20th century and into the 21st. Their story is one of entrepreneurial spirit, strategic investment, and a deep commitment to giving back to society.
The foundation of the Pritzker family’s vast fortune was laid by Abram Nicholas Pritzker (1896-1986). Born in Chicago to Ukrainian Jewish immigrant parents, Abram Nicholas Pritzker embodied the classic American success story. After graduating with a law degree from Harvard University in 1920, he joined his father’s Chicago-based law firm, which later became Pritzker & Pritzker. In 1936, Abram Nicholas and his brother, Jack Nicholas Pritzker (1904-1979), ventured into the world of commerce. They demonstrated astute business acumen by investing in real estate and various smaller companies, primarily in and around the Chicago area. This marked the beginning of the Pritzker family’s rapid financial ascent. They strategically utilized trusts to safeguard their burgeoning profits from excessive taxation, a move that would become a hallmark of their financial strategy. Beyond business, Abram Nicholas Pritzker also established himself as a major philanthropist, notably playing a key role in founding the Pritzker School of Medicine at the University of Chicago and contributing millions of dollars annually to diverse charitable causes.
The Pritzker family business empire experienced further expansion and diversification under the leadership of Abram Nicholas’s sons: Jay Arthur (1922-1999), Robert Alan (born 1926), and Donald Nicholas (1932-1972). In 1957, they made a pivotal acquisition, purchasing the Hyatt House hotel in Los Angeles. From this single hotel, they meticulously built a global hospitality giant, the Hyatt Corporation, which today encompasses over 150 hotels worldwide. Jay and Robert Pritzker were particularly adept at identifying and acquiring financially struggling companies, skillfully revitalizing them into profitable ventures. By the mid-1980s, the Pritzker family’s holdings were incredibly diverse, encompassing substantial real estate assets and ownership of hundreds of companies and subsidiaries. These included prominent names like the Hyatt Corporation, Royal Caribbean Cruises, and Ticketmaster (which they later sold in 1993). However, their most significant business interest was the Marmon Group, a vast and diversified holding company with businesses spanning across various sectors, including Wells Lamont (gloves), Trans Union (credit reporting), and significant interests in construction, transportation, and water treatment technologies.
Continuing the family’s philanthropic tradition, Jay Pritzker established the prestigious Pritzker Architecture Prize in 1979. This annual award, accompanied by a $100,000 grant, has become recognized globally as the highest honor in the field of architecture. In the early 21st century, estimates by Forbes magazine placed the Pritzker family’s accumulated wealth at over $15 billion, solidifying their position as one of America’s wealthiest and most influential families, with a lasting legacy in both the business world and the realm of philanthropy.
