Henry Hillman facts for kids

Henry Lea Hillman (born December 25, 1918 – died April 14, 2017) was a very successful American businessman and investor. He was also a kind person who gave a lot of money to good causes. Henry Hillman led The Hillman Company, which was a family business in Pittsburgh, Pennsylvania. This company managed the Hillman family's investments. He also led the Hillman Family Foundations, which are groups that give money to charities.

Early Life and Education

Henry Lea Hillman grew up in Pittsburgh, Pennsylvania. He was the second son of John Hartwell Hillman Jr. and Juliet Cummins Hillman. His father built a large business from a small company that dealt with iron. This business grew to include coal, steel, energy, transportation, and real estate.

Henry went to Shady Side Academy and the Taft School. He then studied geology at Princeton University, finishing in 1941. Before the United States joined World War II, he joined the Navy. He served as a Naval aviator, flying planes, until 1945.

Building a Business Empire

After the war, in 1946, Henry Hillman joined a company called Pittsburgh Coke & Chemical. This company made coke and other products from coal. His family's company, J. H. Hillman & Sons, owned most of Pittsburgh Coke. Henry helped the company make and sell more chemicals and plastics. He became the president of Pittsburgh Coke in 1955.

Henry also helped combine smaller banks in Pittsburgh to create Pittsburgh National Bank in 1959. This bank later became PNC Financial Services, which is now one of the biggest banks in the United States. Henry was on the bank's board of directors until 1988.

When his father passed away in 1959, Henry took charge of the family's businesses. He made them much bigger and more successful. He sold off the industrial and chemical parts of the business. He turned The Hillman Company into a company that invested in many different things.

Henry was one of the first people to invest in "private equity funds." This means he invested in companies that were not publicly traded on the stock market. For example, in 1972, he was an early investor in Kleiner Perkins, a company that helps new, growing businesses. Through this and other investments, Henry helped fund many high-tech start-ups. Some of these included Genentech and Tandem Computers. In the early 1980s, The Hillman Company was the biggest investor in new businesses in the country.

He also invested in "leveraged buyout" firms like Kohlberg Kravis Roberts (KKR). These firms buy companies, often using borrowed money, to make them more profitable. Through KKR, Henry invested in well-known companies like Duracell and RJR Nabisco. The Hillman Company also became a major developer of commercial real estate, building properties across the country. They also invested in energy, like developing new ways to get natural gas.

Throughout his career, Henry Hillman was on the board of directors for many important companies. These included General Electric Company and Merck & Co., Inc. He stopped actively managing The Hillman Company in 2004 but remained involved as chairman.

Henry Hillman was recognized for his success. He was inducted into the Private Equity Hall of Fame. He was also named "Industrialist of the Year" and "Business Leader of the Year" for his work.

Giving Back to the Community

Henry Hillman was very active in helping the city of Pittsburgh. He served on the boards of many important organizations. These included the Carnegie Institute, Carnegie Library of Pittsburgh, and UPMC Children's Hospital of Pittsburgh. He also led the Allegheny Conference on Community Development, which works to improve the Pittsburgh area.

Hillman Hall of Minerals and Gems at the Carnegie Museum of Natural History in Pittsburgh

As the head of the Hillman Family Foundations, Henry focused on helping Pittsburgh become a better place. He made many important donations. Some of these include:

• The Hillman Library at the University of Pittsburgh.
• The Hillman Hall of Minerals and Gems at the Carnegie Museum of Natural History.
• Professorships (special teaching positions) at Princeton University and Chatham University.
• The Hillman Cancer Center and the Hillman Fellows Program for cancer research at the University of Pittsburgh.
• The Hillman Center for Pediatric Transplantation at UPMC Children's Hospital of Pittsburgh.
• The Hillman Center for Future-Generation Technologies at Carnegie Mellon University.

Starting in 2012, Henry also made extra yearly donations to support new ideas and organizations in Pittsburgh that help the community.

Henry and his wife, Elsie, received many awards together for their kindness and contributions. These included the gold medal from The Pennsylvania Society and the Tree of Life Award.

Family Life

Henry Hillman married Elsie Hilliard in Pittsburgh on May 12, 1945. They had four children: Juliet, Audrey, Henry Jr., and William. Henry Hillman passed away on April 14, 2017, when he was 98 years old.