Joe Allbritton facts for kids
Quick facts for kids
Joe Allbritton
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| Born | December 29, 1924 D'Lo, Mississippi, United States
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| Died | December 12, 2012 (aged 87) |
| Alma mater | Baylor University |
| Occupation | Businessperson, banker, publisher |
| Spouse(s) | Barbara Allbritton |
| Children | Robert Allbritton |
Joe Lewis Allbritton (born December 29, 1924 – died December 12, 2012) was a very successful American businessman. He was known as a banker, a publisher, and someone who gave a lot to charity.
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Early Life and Education
Joe Allbritton was born on December 29, 1924. He was the sixth of seven children. His family lived in D'Lo, Mississippi for a short time. They soon moved to Houston, Texas. His father owned a small business there.
Allbritton served in the United States Navy during World War II. After the war, he went to Baylor University. He earned both his first degree and a law degree there. He was also a national champion debater at Baylor.
Building a Business Empire
After his time in the Navy and law school, Joe Allbritton started his business career. He borrowed $5,000 to buy land near Houston. This land was later used for a freeway. The freeway connected Houston and Galveston. This helped Allbritton earn his first fortune.
He also led several banks in Houston. These included Houston International Bank and Houston Citizens Bank.
Media Ventures
In 1975, Allbritton bought The Washington Star newspaper. He also bought its television station. This was the start of his company, Allbritton Communications. This company grew to include WJLA-TV and NewsChannel 8. His son, Robert Allbritton, now runs the company. It also includes the news website Politico.
Leading Riggs Bank
From 1981 to 2001, Joe Allbritton was the chairman of Riggs Bank. This was a well-known bank. In 1992, he sold Pierce National Life Insurance Co. He had owned this company since 1958.
Later, the bank faced some challenges. Joe Allbritton stepped down as chairman. His son, Robert, took over the role. Riggs Bank was later bought by PNC in 2005.
Giving Back: Philanthropy
Joe Allbritton and his wife, Barbara, were very generous. They gave a lot of money to many organizations. They did this through the Allbritton Foundation.
They supported the Baylor College of Medicine. They also helped create the Allbritton Art Institute. They supported the Oxford Scholars program. They also helped start the International School of Law. This school is now the George Mason University School of Law.
Allbritton was on the board of the John F. Kennedy Center for the Performing Arts. He also served on the board of the Museum of Fine Arts, Houston. He donated the official White House portrait of President Reagan to the museum. He also contributed to the Washington National Cathedral. He was even made a Lay canon there.
Thoroughbred Horse Racing
Joe Allbritton also became famous in the world of thoroughbred horse racing. In 1991, his horse, Hansel, was a champion. Hansel won two big races in the U.S. Triple Crown series. These were the Preakness and the Belmont stakes.
Later Life and Passing
Joe Allbritton passed away on December 12, 2012. He was 87 years old. He died in Houston, Texas, due to heart trouble. He was survived by his wife, Barbara, and his son, Robert. He also had three grandchildren.
