Early Life
Ken Langone was born in Roslyn Heights, New York, in 1935. His parents were Italian-American, and his father was a plumber while his mother worked in a cafeteria. Growing up in a working-class family, Langone learned the value of hard work from an early age, taking on various jobs to support his family. He graduated from Bucknell University with a B.A. in Economics and Political Science and later earned an MBA from New York University's Stern School of Business.
Rise to Success
Langone's career began on Wall Street in the early 1960s at R.W. Pressprich & Co., where he quickly rose to become a partner. In 1968, he played a key role in taking Electronic Data Systems (EDS) public. In 1974, Langone founded the venture capital firm Invemed Associates. His most notable business achievement was co-founding The Home Depot in 1978, where he helped secure financing for founders Bernard Marcus and Arthur Blank.
Key Business Strategies
Langone's success stems from his strategic investments and keen understanding of business opportunities. His venture capital firm, Invemed Associates, focused on financing startups, particularly in healthcare and high-tech industries. His involvement in The Home Depot showcased his ability to identify and support successful business models. He is known for his ability to see opportunities and take calculated risks.
Philanthropy
Ken Langone is a dedicated philanthropist. He and his wife, Elaine, have contributed significantly to various causes. A large portion of his giving has gone to educational and medical institutions, including NYU Langone Health. He donated $200 million to NYU School of Medicine, which led to the school offering tuition-free education to all medical students. He has also been deeply involved with his alma mater, NYU Stern School of Business, where he served as chair of the Board of Trustees. He has donated millions to charities, especially in education, medicine, and organizations dedicated to servicing the disadvantaged.
