Early Life and Education
Stewart Allen Resnick was born on December 24, 1936, in New Jersey. He grew up in a middle-class Jewish family and later moved to California in the 1950s. He attended the University of California, Los Angeles (UCLA), where he earned a Bachelor of Science degree in 1959 and a Juris Doctor from UCLA School of Law.
Rise to Success
Resnick's entrepreneurial journey began during his law school years when he founded a janitorial services company, which he sold in 1969. With the proceeds, he acquired the Franklin Mint in 1986. However, his most significant success came from the agricultural sector. In 1979, Resnick and his wife, Lynda Resnick, purchased Teleflora. They expanded their agricultural holdings significantly, forming Paramount Farms in 1989, and later, The Wonderful Company. Resnick's leadership transformed the company into a global leader in agriculture, with iconic brands such as Wonderful Pistachios and FIJI Water.
Key Business Strategies
The Wonderful Company's success is attributed to several strategic moves. Resnick focused on vertical integration, controlling the entire process from planting to packaging, ensuring quality and efficiency. He also expanded the company through strategic acquisitions, including the purchase of the Kern Water Bank. The company's marketing efforts, often spearheaded by Lynda Resnick, played a crucial role in building brand recognition and market share for products like POM Wonderful and Wonderful Halos.
Philanthropy
Beyond business, Stewart Resnick is a dedicated philanthropist. Through The Wonderful Company and their foundation, the Resnicks have invested over $2.5 billion in education, health, community development, and sustainability initiatives. Notably, they made a historic $750 million donation to Caltech for climate research and have supported other institutions such as UCLA and the Technion-Israel Institute of Technology.
