Early Life and Education
Robert Kenneth Kraft was born in Brookline, Massachusetts, on June 5, 1941. He is the son of Sarah Bryna (Webber) and Harry Kraft. Kraft attended Columbia University on an academic scholarship and graduated in 1963, and later received an MBA from Harvard Business School in 1965. He grew up in a Modern Orthodox Jewish family.
Rise to Success
Kraft's career began with the Rand-Whitney Group, a packaging company run by his father-in-law, Jacob Hiatt. In 1968, he gained control of the company through a leveraged buyout. He founded International Forest Products in 1972, a trader of physical paper commodities. The Kraft Group was formed in 1998 as a holding company for his various business interests. Kraft's acquisition of the New England Patriots in 1994 for $172 million, was the highest price paid for an NFL team at the time. He has transformed the Patriots into one of the most successful franchises in NFL history.
Key Business Strategies
Kraft's business strategies have been marked by strategic acquisitions and a focus on long-term value creation. His purchase of the New England Patriots was a pivotal move, leveraging his real estate holdings to secure the team's future in the region. He has also demonstrated a knack for identifying and nurturing talent, as seen in the success of the Patriots under head coach Bill Belichick and quarterback Tom Brady. The Kraft Group is a diverse holding company with interests in paper and packaging, sports and entertainment, real estate development, and a private equity portfolio.
Philanthropy
The Kraft family is known for its significant philanthropic efforts, with lifetime commitments of almost $1 billion. They support various causes, including education, healthcare, social justice, and Jewish organizations. Notable initiatives include the Kraft Family National Center for Leadership and Training in Community Health and the Passport to Israel Fund. In 2019, Kraft received the Genesis Prize for his philanthropy.
