NEW ROCHELLE, N.Y. -- Happy Birthday to New Rochelle’s Jerome Kohlberg, Jr.!
Kohlberg, Jr., who graduated from New Rochelle High School, turns 89 on Thursday.
The businessman and early pioneer in the private equity was born July 10, 1925 in Mount Kisco. He leveraged buyout industries founding private equity firm Kohlberg Kravis Roberts & Co. and later Kohlberg & Company.
Kohlberg participates in philanthropy through the Kohlberg Foundation. He and his wife raise endangered free-range livestock and fish on their farm, and some of the produce goes to his wife's restaurant, The Flying Pig in Mount Kisco. He was listed on the 2008 Forbes List of billionaires as the 785th richest person in the world with an estimated net worth of $1.5 billion.
Kohlberg served in the Navy during World War II and went on to college thanks to the GI Bill. He earned an undergraduate degree from Swarthmore College. He later received degrees from Harvard Business School and Columbia Law School. In 1986, he founded the Philip Evans Scholarship Foundation at Swarthmore.