Early Life and Education
Penny Sue Pritzker was born on May 2, 1959, in Chicago, Illinois. She comes from the prominent Pritzker family, known for their extensive business empire, with roots in Kyiv. Her father, Donald Pritzker, co-founded Hyatt Hotels. She graduated from Castilleja School and earned a Bachelor of Arts in economics from Harvard College in 1981. Pritzker furthered her education at Stanford University, obtaining a Juris Doctor and an MBA in 1985. In the 1980s, after training for six months, Pritzker completed her first Ironman Triathlon in Hawaii. She has since completed multiple triathlons and marathons.
Rise to Success
Penny Pritzker's career highlights her entrepreneurial spirit and dedication to public service. In 1987, she founded Classic Residence by Hyatt (later Vi), an upscale senior living community. She has founded and co-founded several other businesses, including The Parking Spot and Artemis Real Estate Partners. From June 2013 to January 2017, she served as the U.S. Secretary of Commerce under President Barack Obama. During her tenure, she launched SelectUSA, an initiative attracting foreign direct investment to the United States. Since re-entering the private sector, Pritzker has joined the boards of Microsoft and enterprise software startup Icertis. She also cofounded property investment firm Artemis Real Estate Partners and previously served as chair of credit-reporting firm TransUnion. In July of 2022, Ms. Pritzker was elected as the Senior Fellow of the Harvard Corporation and is the first woman to hold the position.
Key Business Strategies
Pritzker's business strategy involves a long-term, fundamental approach to investing and building market-leading businesses. Her firm, PSP Partners, focuses on sectors like professional services, real estate, technology, and consumer products. She emphasizes strong company cultures and aligning interests with strategic partners. Pritzker has stated that early in her career, she learned the importance of moving on from ideas that were not working.
Philanthropy
Pritzker is actively involved in civic and philanthropic activities. Through The Pritzker Traubert Family Foundation, she and her husband fund initiatives to improve education, promote health, and support art and cultural activities in Chicago. She has donated $100 million to Harvard for the construction of a new economics department building.
