Henry R. Kravis Award for Entrepreneurship
About Henry R. Kravis
Henry Kravis was born in Tulsa Oklahoma. His father was an oil engineer and onetime oil business partner of Joseph P. Kennedy, father of the President. Young Henry attended prep school in the east, and went to Claremont College in California, where he majored in economics and was captain of the golf team.
In 1969, he received an MBA from Columbia University and joined the staff of Bear Stearns, along with his cousin, George R. Roberts. Both young men worked under Jerome Kohlberg, Jr., the corporate finance manager.
Kohlberg taught them what he called "bootstrap" acquisition. He sought out undervalued small companies, or undervalued operations within larger companies, and helped the management of these concerns borrow the capital to buy the business themselves. Kohlberg saw great opportunities he felt the investment banking community were overlooking. In 1976, when Bear Stearns would not appropriate the funds for these projects, Kohlberg resigned and took his two young associates with him. Together they founded the investment banking firm Kohlberg Kravis Roberts & Co. (KKR).
Since its inception, KKR has spent more than $73 billion, acquiring more than 45 companies. Kravis now sits on the board of directors of Duracell, Safeway, Borden, Owens-Illinois, AutoZone, UnionTexas Petroleum, and American Re-Insurance Company.
In addition to his business activities, Kravis has made contributions as large as $10 million to New York's Mount Sinai Hospital and the Metropolitan Museum of Art. He is on the board of trustees of the Metropolitan and of the New York City Ballet. He is chairman of the Board of Trustees of New York's public television station and was New York State Co-Chairman of the presidential campaign of George Bush.
Photo Available: http://conference.committee100.org/2007/speakers/Kravis,Henry.jpg
Bio Available: http://www.achievement.org/autodoc/page/kra0bio-1