Early Life
Michael Polsky was born in Ukraine and emigrated to the United States with his wife in 1976, bringing only $500 and a suitcase of belongings. He began his career designing power plants in Chicago. He holds a Master of Business Administration from the University of Chicago Booth School of Business.
Rise to Success
In 1985, Polsky co-founded Indeck Energy Services, where he built power plants. Polsky then founded Polsky Energy in 1991, later renamed SkyGen Energy, which specialized in gas-fired generators. He sold SkyGen in 2000 for $225 million. In 2001, Polsky founded Invenergy, focusing on renewable energy sources. Invenergy has grown to become the largest privately held developer, owner, and operator of sustainable energy solutions in the world.
Key Business Strategies
Polsky's success stems from his vision in the energy sector. Under his leadership, Invenergy has built over 220 projects across 30 U.S. states and four continents. The company has developed significant projects in wind, solar, natural gas, and energy storage. Invenergy is now paving the way for next-generation technologies, including offshore wind and transmission. Polsky is recognized as a hard-nosed, profit-driven developer.
Philanthropy
Polsky is known for his significant philanthropic contributions. He donated over $50 million to the University of Chicago, including a $35 million gift in 2016 to expand the Polsky Center for Entrepreneurship and Innovation. He also established the World Resources Institute Polsky Center for the Global Energy Transition and the Polsky Energy Transition Leadership Academy. Polsky's philanthropic efforts extend to supporting education, entrepreneurship, climate and sustainability, healthcare, and initiatives in his native Ukraine.
