Jay Pritzker

Jay Arthur Pritzker (August 26, 1922 – January 23, 1999) was an American entrepreneur, conglomerate organizer, and member of the Pritzker family.

This article is about the co-founder of Hyatt. For his similarly-named nephew, Jay Robert Pritzker, see J. B. Pritzker.

Jay Pritzker
Born	Jay Arthur Pritzker (1922-08-26)August 26, 1922 Chicago, Illinois
Died	January 23, 1999(1999-01-23) (aged 76)
Nationality	American
Alma mater	University of Chicago Northwestern University (BS) Northwestern University School of Law (JD)
Occupation	Businessman
Known for	Co-founder of Hyatt Corporation
Spouse(s)	Marian "Cindy" Friend
Children	Nancy Pritzker (deceased) Thomas Pritzker John Pritzker Daniel Pritzker Jean "Gigi" Pritzker
Parent(s)	Abram Nicholas Pritzker Fanny Doppelt

Jay Pritzker Pavilion, Chicago, Illinois, USA

Early life and education

Pritzker was born in Chicago, Illinois to a Jewish family that arrived in Chicago from a Jewish shtetl near Kyiv, Ukraine in 1881,[1] the son of Fanny (née Doppelt) and Abram Nicholas Pritzker. He had two brothers: Donald Pritzker and Robert Pritzker.[2] At the age of 14, Pritzker was admitted to the University of Chicago.[3] He then went on to graduate with a B.S. from Northwestern University in 1941 and a J.D. from the Northwestern University School of Law in 1947.[2][4][5]

Career

Pritzker diversified the Chicago-based family business—which then consisted of the Pritzker & Pritzker law firm run by his uncle Harry Nicholas Pritzker and the investments made by his father and his uncle Jack Nicholas Pritzker—into the Marmon Group holding company. With his brother Robert Pritzker, he built a portfolio of 60 diversified industrial corporations. He created the Hyatt Hotel chain in 1957 with his brother Donald Pritzker and owned Braniff Airlines from 1983–1988.

In 1979 he established the Pritzker Architecture Prize. In 1982 he acquired Ticketmaster and expanded it before selling 80% for more than $325 million to Microsoft co-founder, Paul Allen, in 1993.[6][7][8]

In 1979, Pritzker received the Golden Plate Award of the American Academy of Achievement.[9]

In 1996, he and his wife Cindy received the National Building Museum's Honor Award.[10]

In 2004, the Jay Pritzker Pavilion, designed by architect Frank Gehry, was completed as part of Millennium Park in downtown Chicago.

Personal life

Pritzker was married to Marian "Cindy" Friend, the daughter of Illinois appellate judge Hugo Friend,[11][12] for 51 years.[13] They had five children:[14]

• Nancy Pritzker (born 1948), died by suicide in 1972 at age 24. The University of Chicago medical school is named for her.[15]
• Thomas Pritzker (born 1950), served as chairman of Hyatt Foundation, chairman of Marmon Holdings, and as a director of Royal Caribbean, and the Pritzker Foundation.[14]
• John Pritzker (born 1953), runs his own private equity firm Geolo Capital, which focuses on investments in hospitality, entertainment and health and wellness companies. In 2010, he purchased a majority interest in the Joie de Vivre hotel chain and later merging it with the Pomeranc family's Thompson Hotel Group.[14]
• Daniel Pritzker (born 1959), musician and filmmaker who served as a trustee of the Jay Pritzker Foundation along with his wife, Karen. He also founded the Jay Pritzker Academy in Ta Chet, Cambodia; and is a prominent supporter of Providence St. Mel School in Chicago and Tufts University.[14] He is the owner of Jerry Garcia's famed guitar "Wolf", which he purchased at auction for $789,500.
• Jean "Gigi" Pritzker (born 1962), film and play producer and is CEO of Odd Lot Entertainment.[14]

See also

• Smith v. Van Gorkom
• Pritzker family
• The ITT Wars

References

1. The Economist: "Jay Pritzker, pioneer of the modern hotel chain, died on January 23rd, aged 76" January 28, 1999
2. New York Times: "Jay Pritzker, Who Built Chain Of Hyatt Hotels, Is Dead at 76" By ANTHONY RAMIREZ January 25, 1999
3. "The fascinating life of Penny Pritzker (so far)". Fortune. Retrieved 2016-02-12.
4. Northwestern University Timeline Archived 2013-05-02 at the Wayback Machine retrieved April 17, 2013
5. Anderson, Jon (January 24, 1999). "JAY A PRITZKER". Chicago Tribune. Retrieved 2020-07-23.
6. "Rival to Ticketron : Ticketmaster Emerging as Force in L.A." Los Angeles Times. 1985-01-31. Retrieved May 30, 2020.
7. "MICROSOFT CO-FOUNDER PAUL ALLEN BUYS CONTROL OF TICKETMASTER". Chicago Tribune. November 22, 1993. Retrieved May 30, 2020.
8. Sandler, Adam. "Industry's #1 has a ticket to rule". Daily Variety. p. 17.
9. "Golden Plate Awardees of the American Academy of Achievement". www.achievement.org. American Academy of Achievement.
10. National Building Museum: List of Honor Award recipients retrieved April 17, 2013
11. CNN Money: "THE PRITZKERS UNVEILING A PRIVATE FAMILY" By Ford S. Worthy April 25, 1988
12. Jewish Telegraphy Agency: "Judge Hugo Friend Named to Illinois Appellate Court" October 27, 1930
13. Vanity Fair: "Shattered Dynasty" by Suzanna Andrews May 2003
14. Chicago Tribune: "The Pritzker family tree" By Melissa Harris and Julie Wernau December 18, 2011
15. USA Today "Father's 'Little Princess' in big Pritzker family feud" Debbie Howlett July 15, 2003

External links

• Jay Pritzker Pavilion @ Millennium Park, Chicago