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Herbert Kohler, Jr. – Billionaire

Herbert Vollrath Kohler Jr. (born February 20, 1939) is a member of the Kohler family of Wisconsin, and is the chairman of the Kohler Company, a manufacturing company in Kohler, Wisconsin, best known for its plumbing products.

Early life and education

Kohler was born February 20, 1939 to Ruth Miriam DeYoung Kohler (1906–1953) and Herbert Vollrath Kohler Sr. (1891–1968), who ran the Kohler Company from 1937 until his death. He is related to other former company presidents, including Walter J. Kohler Sr. and Walter J. Kohler Jr. He was educated at The Choate School (now Choate Rosemary Hall, Wallingford, Connecticut), of which he was Chairman of the Board of Trustees from 2005-10. He graduated in 1965 from Yale University with a degree in Industrial Administration and went to work for the company. In June 1972, he was elected chairman of the board and chief executive officer at the age of 33.

Business career

Main article: Kohler Company

After graduating in 1965 from Yale University, Kohler went to work for the Kohler Company which long has been a manufacturer of bathtubs, toilets and other plumbing fixtures. He worked as a laborer or technician in every division of the company. In June 1972, he was elected chairman of the board and chief executive officer at the age of 33. Under his leadership, the company more than doubled the size of its engine and generator business and it launched an interiors group that now encompasses five furnishings lines.

The National Kitchen and Bath Hall of Fame inducted Kohler in its founding year of 1989, followed by the National Housing Hall of Fame in 1993. Junior Achievement inducted him into its U.S. Business Hall of Fame in April 2006. Kohler received the “Legend in Leadership Award” from the Chief Executive Leadership Institute of the Yale School of Management later that year.

In 2007, Kohler’s net worth was estimated at $4.0 billion. In 2009, his net worth was estimated at $1.3 billion and as of June 2016, Forbes has estimated Kohler’s net worth at $9.1 billion.

In April 2015, the company announced Kohler was stepping down as CEO and relinquishing the title to his son, David Kohler.

Herbert Kohler, Jr. net worth: Herbert Kohler, Jr. is an American businessman who has a net worth of $5.7 billion dollars. Based in Kohler, Wisconsin, Herbert Kohler, Jr. graduated from Yale University, and became CEO and chairman of his family’s company, Kohler Co. in 1972. The company was founded by his grandfather in 1873, and was originally devoted to hitching post, farm tool, and cemetery ornament manufacture. It has gone on to become one of the most successful bathroom and kitchen fixture companies in the world. In addition to bathroom and kitchen products, the company also manufactures tile, engines, generators, and furniture. Mr. Kohler also owns two golf courses and resorts in Wisconsin. One of his courses hosted the Women’s US Open in 2012, and his other course, Whistling Straits, will host the 2020 Ryder’s Cup. Whistling Straits is slated to host the 2015 PGA Championship and has previously hosted the same tournament in 2004, 2010. Herb owns a third course and resort, called Old Course Hotel, in St. Andrews, Scotland.

Source:

  1. wikipedia
  2. celebritynetworth

 

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