Robert Kenneth Kraft Net WorthReal Name: Robert Kenneth Kraft
Date of Birth: 06/05/1941
Place of Birth: Brookline, Massachusetts
2017 Net Worth: $4.3 Billion
Profession: CEO and Chairman of the Kraft Group
Robert Kraft Biography
Robert Kraft was born in June of 1941 in Brookline, Massachusetts. Kraft’s father, a respected dressmaker, wanted his son to become a rabbi. Kraft attended Edward Devotion School and graduated from Brookline High School in 1963. Kraft wanted to play sports in high school but was unable to as it would have interfered with his Hebrew studies as well as his observance of the Sabbath.
Kraft attended Columbia University on a scholarship. He joined the Zeta Beta Tau fraternity and was class president as well as the running back for the school’s football team. Kraft graduated from Columbia, then attended Harvard Business School, earning an MBA in 1965.
He began his professional career with the Rand-Whitney Group, a packaging company run by his father-in law. Kraft gained control of the company through a leveraged buyout in 1968. Kraft is the company chairman to this day. He went on to found International Forest Products in 1972. These two companies make up the largest privately held paper and packaging companies anywhere in America. The Kraft Group is a diversified holding company that now has assets in sports, entertainment, paper, packaging, real estate, and private equity. Kraft was also an investor in New England Television Corp. and in 1991; he sold his shares in this area for an estimated $25 million. Kraft’s holdings now include the National Football League’s New England Patriots and Major League Soccer’s New England Revolution, as well as Gillette Stadium. The New England Patriots is the NFL’s third most valuable team. Kraft purchased the team in 1994 for $172 million. Today, this team alone is worth $1.4 billion and has won four Super Bowl titles sonce 2001.
Kraft’s company, the Kraft Group, operates in 90 countries and has sales of over $2 billion every year. Kraft has a current net worth of $4.3 billion and shows no signs of slowing down or stopping his accumulation of wealth and increasing net worth.