Kenneth Gerard Langone born september 16,1935 is an American billionaire businessman, investor, and philanthropist who is best known for arranging financing for The Home Depot’s founders.  He has been a prominent Republican Party donor.
Kenneth Langone was born to Italian American working-class parents in Roslyn Heights, New York. His father worked as a plumber, and his mother worked at a cafeteria. “A lot of affection, but not a lot of money,” has been said of Langone’s family. He attended Bucknell University and the Stern School of Business at New York University.
What Is Ken Langone’s Net Worth?
Kenneth Langone has a net worth of $3.3 billion and is an American financial supporter, venture capitalist, and investor. Ken Langone is best known as the co-founder of The Home Depot, but he has also served as a director of the New York Stock Exchange, where he chaired the remuneration committee from 1999 to 2002.
He was elected chairman of the Board of Directors of Geeknet, a publicly traded internet retailer, in July 2010, and he is now the company’s CEO. Kenneth G. Langone was born in Roslyn Heights, New York, on September 16, 1935, to working-class parents. To pay for his schooling at Bucknell University and New York University Stern School of Business, Langone had to perform many blue-collar jobs.
Langone performed a few minor jobs in the insurance industry after graduation before getting a job at a financial services firm. Langone’s career took off once he took Ross Perot’s company, Electronic Data Systems, public for ten times the value projected by other firms. For the next ten years, he expanded on this foundation, After that, he arranged for Arthur Blank and Bernard Marcus to start Home Depot with his help.
The retailer of home repair and construction materials and services has grown into a national company that now employs over 400,000 people, making it Langone’s most well-known commercial venture.
Apart from his commercial prowess, Mr. Langone is a generous philanthropist who, as of this writing, has donated more than $200 million to various causes and is a member of Warren Buffett’s Giving Pledge.
Kenneth G. Jr., Stephen, and Bruce Langone are his three children with his wife Elaine Langone.
Pope Benedict XVI named him a Knight of St. Gregory since he is a devout Roman Catholic. He now resides in Sands Point, New York, after previously residing on Flower Hill’s Elderfields Road.
Kappa Beta Phi is Langone’s fraternity. Langone remarked on January 13, 2021, that Donald Trump’s conduct related the 2021 assault of the United States Capitol made him feel “betrayed,” mirroring Langone’s statements from 2017 during the Unite the Right protest.
Langone began his career in the early 1960s at R.W. Pressprich, a Wall Street financial services firm where he assisted in the development of new business. In 1968, Langone met with Ross Perot and persuaded him to let Pressprich handle the IPO of Electronic Data Systems. Langone was named president of Pressprich in 1969.
Langone founded Invemed, a venture financing business, in 1974. Bernard Marcus and Arthur Blank founded Home Depot with the help of Langone. Langone’s most well-known business venture is now a national franchise with over 400,000 employees.
From 1999 to 2003, Langone served as head of the Compensation Committee of the New York Stock Exchange. In 2004, New York Attorney General Eliot Spitzer launched a lawsuit against former New York Stock Exchange Chairman Richard Grasso, demanding that he repay $100 million from his $139.5 million salary package to the NYSE. Langone was cited in the lawsuit as the person who approved the remuneration deal. Langone denied that the pay packages were a factor in his decision.
Given that the NYSE had firsthand knowledge of the board’s decision, they were illegal. The New York State Court of Appeals rejected all accusations against Grasso on July 1, 2008, since the NYSE had changed its status from a nonprofit to a for-profit entity, removing the Attorney General’s jurisdiction to suit them.