Early Life
Michael Krasny was born in Illinois in 1953 to a Jewish family. He graduated from the University of Illinois Gies College of Business in 1975. Initially, Krasny worked as a Toyota car salesman at his father's auto dealership.
Rise to Success
In 1981, Krasny left his job as a car salesman and took computer programming classes. He later sold his own computer after placing a $3 ad in the Chicago Tribune, which sparked his interest in the computer industry. This led him to start buying and reselling computers. In 1984, he founded Computer Discount Warehouse (CDW), a company that rapidly grew in the burgeoning personal computing market. CDW went public in 1993. Krasny retired as CEO in 2001 and sold the company to Madison Dearborn Partners for $7.3 billion in 2007.
Key Business Strategies
Krasny's success stemmed from recognizing the increasing demand for computers and capitalizing on the trend. His business model focused on quick inventory turnover and prompt payments to vendors, which helped fund CDW's growth. He also maintained a focus on building strong relationships with customers.
Philanthropy
Krasny established the Circle of Service Foundation and has donated shares of CDW to charitable causes. He remains active in supporting Jewish and medical initiatives.
