Early Life
George Bruce Kaiser was born on July 29, 1942, in Tulsa, Oklahoma. His parents were Jewish refugees who fled Nazi Germany in the late 1930s and settled in Tulsa in 1940. Kaiser attended Central High School in Tulsa and later earned a Bachelor of Arts and a Master of Business Administration from Harvard University.
Rise to Success
In 1969, George Kaiser took over Kaiser-Francis Oil Company after his father had a heart attack, transforming it into a major energy exploration company. In 1990, Kaiser acquired the Bank of Oklahoma (BOK) out of receivership and expanded it from a 20-branch company to a bank with operations in nine states. He is known for disciplined capital allocation and contrarian investing, which allowed him to build a substantial fortune.
Key Business Strategies
Kaiser's wealth-building strategy is characterized by discipline, patience, and opportunism, particularly in cyclical industries like energy. He emphasized maintaining liquidity and avoiding excessive leverage. His approach involved deploying capital during market downturns when competitors were constrained. He currently serves as president, CEO, and primary owner of GBK Corporation, the parent company of Kaiser-Francis Oil Company, and is the board chairman and majority owner of BOK Financial Corporation.
Philanthropy
Philanthropy is a central aspect of Kaiser's legacy. He is the founder of the George Kaiser Family Foundation (GKFF), which has committed billions of dollars to early childhood education, maternal health, and community development. Kaiser's foundation supports programs aimed at stimulating economic growth and combating poverty. He is a strong proponent of programs like Early Head Start and Educare. Kaiser also supports initiatives that revitalize housing, public spaces, and education in Tulsa neighborhoods.
