Early Life and Education
Leonard Norman Stern was born on March 28, 1938, in New York City. He is the son of Max Stern, who immigrated from Germany and established Hartz Mountain Corporation. Stern graduated from New York University (NYU) with a Bachelor of Science degree in 1957 and an MBA in 1959.
Rise to Success
Stern joined his father's pet supply business, Hartz Mountain Corporation, in 1959. By the early 1960s, he gained control of the company and expanded its market reach significantly, becoming a leader in the pet supply industry. Stern later diversified into real estate, acquiring a New Jersey warehouse in 1966 and building a substantial portfolio of properties. He sold the pet supply business in 2000 for $350 million to focus on real estate.
Key Business Strategies
Stern's business strategies included aggressive expansion of product lines and distribution networks, as well as a focus on mass-market retail. In real estate, his Hartz Mountain firm developed numerous properties, primarily warehouses and industrial facilities in the New York-New Jersey area.
Philanthropy
Stern is known for his significant philanthropic contributions, particularly to NYU. He made a $30 million donation to the then-named New York University College of Business and Public Administration, which resulted in the creation of the New York University Stern School of Business. He has continued to support NYU, with an additional $50 million donation in 2021 for undergraduate scholarships. He also founded Homes for the Homeless in 1986.
