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Ken Langone Contact Details:
REAL NAME: Ken Langone
NICKNAME: Ken Langone
DOB: 16 September 1935 (age 86 years)
BIRTHPLACE: Roslyn Heights, New York, United States
BIRTH SIGN: Virgo
PROFESSION: American businessman
FATHER: Not Known
MOTHER: Not Known
SPOUSE /WIFE : Elaine Langone (m. 1956)
YOUTUBE CHANNEL: NA
Ken Langone Bio
Ken Langone is a prominent American entrepreneur, investor, and philanthropist. He is perhaps most recognised for his role in securing financing for the founders of The Home Depot. He was born in Roslyn Heights, New York, in the United States on September 16th, 1935. At this point in time, he is 85 years old. Both of his parents worked, with his father as a plumber and his mother at a restaurant. It has been claimed of Langone’s family that they have “a lot of care, but not a lot of riches.” He earned degrees in business administration from Bucknell University and New York University’s Stern School of Business.
His three children with his wife Elaine Langone are named Kenneth G. Jr., Stephen, and Bruce Langone. In the early 1960s, when Langone was just beginning his professional life, he went to work for R.W. Pressprich, a financial services company located on Wall Street. There, he participated in the creation of new companies. In 1968, Langone had a meeting with Ross Perot and was successful in persuading him to allow Pressprich to manage the first public offering of Electronic Data Systems. In 1969, Langone won the election to become President of Pressprich.
The founder of Langone A venture capital business was first established in the year 1974. The cash that was supplied by Langone made it possible for Marcus and Blank to establish Home Depot. The most well-known business venture that Langone has ever embarked upon is today a nationwide store with more than 400,000 workers. Langone was the head of the New York Stock Exchange’s Compensation Committee from 1999 to 2003, when he stepped down as chairman. In 2004, the Attorney General of New York, Eliot Spitzer, launched a lawsuit against the former Chairman of the New York Stock Exchange, Richard Grasso, requesting that he return $100 million of the total pay package that he received from the NYSE, which was $139.5 million.
According to the lawsuit, Langone was the one who agreed to the compensation arrangement. Despite the fact that the NYSE was aware of the decision being made by the board in advance, Langone maintained that the pay packages did not violate the constitution. On July 1, 2008, the New York State Court of Appeals overturned all of the charges that had been brought against Grasso. This was done because the NYSE had changed its name from that of a nonprofit organisation to that of a for-profit corporation, which removed the Attorney General’s authority to bring charges against Grasso.
Kenneth Gerard Langone Sr., sometimes known by his initials KSG, is an extremely successful Italian-American businessman, entrepreneur, founder, banker, and philanthropist. Ken Langone started with nothing and created an enterprise that is now worth many millions of dollars. His biography is very remarkable, especially considering that he came from meagre beginnings before going on to build Home Depot.
We will know that his firm has achieved success when, in the year 2020, it has achieved the 26th place on the Fortune 500. He is well-known in the business world as an astute investor who funds firms. Throughout his career, Ken Langone has been a successful entrepreneur and has served as the CEO of a wide variety of firms and brands. In 1974, He was the pioneer behind the establishment of a venture capital firm that laid the foundation for the prosperous beginning of Home Depot. He was one of the other founders of the business, which initially consisted of many partners.
This firm was also started by Arthur Blank and Marcus, who were also co-founders. Despite the circumstances into which he was born, Langone was able to steer his life in a different direction. In spite of his lack of wealth, he had the desire to achieve the American dream. He rose through the ranks to become the head of the “Compensation Committee” of the New York Stock Exchange (1999-2003). In his autobiography titled “I Love Capitalism!,” Ken detailed his rise from poverty to wealth and named the individuals who were instrumental in his meteoric rise to the top of their respective fields.
If you found this article to be enlightening, you may also be interested in learning some more intriguing anecdotes from his life. Ken Langone is well-known for his ability to increase a company’s funding, exactly as he did for Home Depot, which earned him this reputation. Throughout his distinguished career, he served on the boards of directors of a number of firms, including General Electric, ChoicePoint Inc., Yum! Brands, Geeknet, and Database Technologies, among others. On the other hand, there is no information on the yearly income he brings in.
After graduating from college, Ken Langone enlisted in the military and served for a total of two years in the United States Army. During this time, he was awarded the Purple Heart. In 1961, Mr. Langone decided to pursue his interest in the Wall Street industry and joined R.W. Pressprich & Company as an associate. He was swiftly promoted inside the organisation and was eventually given the position of Executive Vice President at Pressprich. Businessman Ken Langone attracted the attention of the public with his successful career, and as a result, he was given the opportunity to collaborate with successful entrepreneur Ross Perot of Texas and the start-up firm Electronic Data Systems. Langone jumped at the chance.
In 1968, Ken Langone took Electronic Data Systems public for an astounding 118 times the profits, which came out to $16.50 a share. After achieving such astounding accomplishment, Ken Langone maintained his working connection with Ross Perot as the latter’s counsel for his run for the presidency. Not too much longer after that, Ross Perot gave the position of president and chief operational officer of the business to Ken Langone. To this day, Ken Langone and Ross Perot maintain their connection with one another.
Invemed Associates, Inc. was a small investment bank located on Park Avenue that was established in 1974 by Ken Langone. The bank was established to fund new businesses in the medical industry. Additionally in the year 1974, Ken Langone spent $60,000 to purchase his first seat on the New York Stock Exchange. Later on, he decided to sell his seat for $1.5 million, which contributed to his image as a businessman who is known for buying at a discount and selling at a profit. Ken Langone commented that now “I’m earning 500 percent of my money,” in reference to this accomplishment.
A year later, Ken Langone earned $5 million for a medical electronics firm named Ivan, which he eventually seized control of and then sold to Eli Lilly for stocks in the year 1977. Because of this corporate transaction, Eli Lilly now owns a medical instruments division, which has developed into a division that is worth several billions of dollars. Since that time, Ken Langone has risen through the ranks to become one of Eli Lilly’s most significant stockholders.
Early on in his career, Ken Langone tried his hand at a number of different businesses, but not all of them were profitable. Ken Langone gained valuable insight into the importance of honest business practises and taking responsibility for one’s financial situation as a result of a transaction he conducted with Stirling Homes Corp. Ken Langone was tricked by the Stirling Brothers regarding the financial aspects of a business deal.
As a result of this unfortunate event, Ken Langone decided to take a more hands-on approach to future business dealings. He began personally inspecting his investment opportunities and paying special attention to the degree to which the integrity of the individuals involved served as a proxy for the integrity of the organisation When Ken Langone got involved in a home renovation company named Handy Dan,
he found that his dedication to honesty was to his greatest benefit. Ken Langone made it a point to personally check out each Handy Dan location before making an investment. When asked about the choice, he responded by saying, “When I purchase a stock, I want to know all there is to know about that firm.” I don’t want any interruptions at this time.” Before committing himself to purchasing a 14% ownership position in the firm, Ken Langone made it a priority to get as much information as possible about the enterprise and fully evaluate its prospects.
Because of this business endeavours, Ken Langone was able to connect with Bernard Marcus, the CEO of Handy Dan, which eventually led to the two becoming good friends. In a conflict that Bernard Marcus had with Sanford Sigiloff, an official at the parent firm of Handy Dan, Ken Langone sided with Marcus and backed him. As a direct consequence of these business operations, Handy Dan was forced to buy out Ken Langone and as a direct result of that, he dismissed Marcus as well as his CFO Arthur Blank.
As a direct result of this occurrence, Ken Langone, Bernard Marcus, and Arthur Blank established their very own home improvement business, the start-up that would eventually blossom into the megacorporation known as Home Depot. Through his company, Inversed Associates, Inc., Ken Langone was able to contribute monetarily to the cause. In 1978, Atlanta, Georgia served as the location for the opening of the first Home Depot store. Home Depot is now a countrywide enterprise that employs more than 300,000 people throughout the country.
A very prominent figure in the world of business, Ken Langone is still going strong. Since he started Home Depot, he has gone on to establish the textile company Unifi, Inc. by merging many other companies. In addition, he was the brains behind Patlex Corporation, the business that helped Gordon Gould acquire the rights to the laser, an innovation that has generated royalties totaling more than $190 million.
After submitting a proposal in 2005 to acquire the New York Stock Exchange, Ken Langone attracted a lot of attention to himself and his endeavours. Ken Langone had a connection with the New York Stock Exchange that lasted for 31 years. After that, he wanted to establish a new stock exchange that would depend on electronic trading as an advancement on the model that is now in use. Despite the fact that this transaction was unsuccessful, Ken Langone was able to pique Wall Street’s attention due to the audacity of the effort.
Ken Langone is still very active in philanthropy and has given away millions of dollars to charitable causes, most notably in the fields of education and medical, as well as to organisations that are devoted to helping those who are underprivileged. In addition to this, he has served on a number of boards, some of which include the Board of Overseers for the New York Stern School of Business, the Board of Overseers for the Medical School at New York University, the AutoFinance Group, Database Technologies, and ChoicePoint, Inc.
|House address (residence address)||Roslyn Heights, New York, United States|
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5. Ken Langone Phone Number, House Address, Email
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Phone number: NA
Email id: NA
Ken Langone Fanmail address:
Roslyn Heights, New York, United States