Image: Albert Marquet | Public domain | via Wikimedia Commons
Albert Nahmad, the 85-year-old Chairman and CEO of Watsco, Inc., has built a remarkable career in the air conditioning parts industry. His career began in 1973 when he acquired a stake in Watsco, and through a strategic acquisition strategy, he transformed the company into the largest distributor of HVAC/R products. As of February 2, 2026, his net worth is estimated to be at least $475,720.
Albert Nahmad was born in Panama and emigrated to the United States to study engineering. He attended the University of New Mexico and Purdue University.
In 1973, Nahmad acquired a controlling interest in Watsco, a small, publicly traded company. He spent a year seeking a business to acquire that could serve as a platform for future acquisitions. Under his leadership, Watsco adopted a highly acquisitive strategy, growing from a market capitalization of $22 million in 1989 to over $20 billion.
Nahmad's strategy focused on acquiring and building Watsco through acquisitions of HVAC distribution businesses, with a focus on decentralization. He made 58 acquisitions in the HVAC distribution businesses after acquiring Gemaire in an auction.
Albert Nahmad is involved in charitable organizations in South Florida and serves as the Chairman of the Board for the Miami Cancer Institute. His daughter, Valerie Schimel, serves as President of the Albert H. and Jane D. Nahmad Foundation, which supports education and youth development in Miami-Dade County.
Bought a stake in Watsco, a small publicly traded company.
Grew Watsco from a market cap of $22 million to over $20 billion through strategic acquisitions
Watsco was bringing in about $25 million in annual revenues.
Became CEO of Watsco
Vacated the office of President and retained his roles as the Company's Chairman and CEO
Named Chair of Board of Directors at Miami Cancer Institute
Serves as the chair of the board of directors.
Supports education and youth development.
