Ken Langone facts for kids

Kenneth Gerard Langone Sr. (born September 16, 1935) is a successful American businessman. He is best known for helping to get the money needed to start The Home Depot. He has also given a lot of money to the Republican Party.

Early Life and Education

Ken Langone was born in Roslyn Heights, New York. His parents were Italian American. His father worked as a plumber, and his mother worked in a cafeteria. He went to Bucknell University and later studied business at New York University Stern School of Business.

Building a Business Career

In the early 1960s, Langone started his career on Wall Street. He worked for a company called R.W. Pressprich. He helped them find new business opportunities.

In 1968, Langone met Ross Perot. He convinced Perot to let his company handle the first public sale of shares for Electronic Data Systems. This is called an IPO. In 1969, Langone became the president of Pressprich.

Starting Home Depot

In 1974, Langone started his own company called Invemed. It was a venture capital firm. This type of company invests money in new businesses. Langone helped Bernard Marcus and Arthur Blank get the money they needed to start Home Depot.

Home Depot is now a very large international store chain. It has over 450,000 employees. Helping to start Home Depot is Langone's most famous business success.

Other Business Roles

Langone was on the board of directors for General Electric from 1999 to 2005. He also served on the boards of other companies. These included Geeknet, Unifi, and Yum! Brands, Inc..

As of 2024, Forbes magazine estimates that Langone's net worth is about $8 billion.

Involvement in Politics

Ken Langone is a big supporter of the Republican Party. He has given a lot of money to help Republican campaigns. He calls himself a "loyal, enthusiastic Republican."

Langone has shared his views on government policies. He does not support ideas like free college tuition. He believes these policies are too much like "socialism."

Supporting Presidential Campaigns

Langone was a friend of Ross Perot. He supported Perot's campaign for president in 1992. He was also an advisor to Perot's team.

He has given large amounts of money to Republican groups. These include the Republican National Committee. In 2008, Langone supported Rudy Giuliani for president.

Langone also worked to oppose Barack Obama in the 2012 presidential election. He tried to get Chris Christie to run for president. When Christie decided not to run, Langone supported Mitt Romney.

In 2016, Langone first supported Christie again. Later, he praised Donald Trump. After Christie left the race, Langone supported John Kasich. He also later donated to Donald Trump's 2016 campaign.

In 2019, Langone praised Trump for raising taxes on goods from China. After the events at the U.S. Capitol on January 6, 2021, Langone said he felt "betrayed" by Trump. However, he continued to support Trump's economic ideas. He also gave money to groups working to help Republican senators.

In December 2023, Langone supported Nikki Haley for president. He became a major donor to a group helping her campaign. After the Iowa caucuses in January 2024, Langone said he would likely vote for Trump if he became the Republican nominee.

Personal Life and Giving Back

Ken Langone and his wife, Elaine Langone, have three children. Their names are Kenneth G. Jr., Stephen, and Bruce. They live in Sands Point, New York. They also have a winter home in North Palm Beach, Florida.

Langone is a devoted Catholic. He has given money to the church. He was made a knight by Pope Benedict XVI. This is a special honor called the Order of St. Gregory the Great.

Helping Others (Philanthropy)

Ken and Elaine Langone have joined The Giving Pledge. This is a promise made by wealthy people to give away most of their money to charity.

Langone has given a lot of money to the NYU School of Medicine. He also supported the NYU Medical Center. The medical center was later named NYU Langone Health in his honor. In 2018, he pledged $100 million to make tuition free for all medical students at NYU.

He has also been on the boards of other charitable groups. These include the Harlem Children's Zone and the Robin Hood Foundation. Langone was a trustee at Bucknell University. He and his wife have given millions of dollars to the university. This money helped fund a new athletics center.

In 2019, he donated over $5 million to the Animal Medical Center of New York. This center helps animals in New York City.

Awards and Recognition

In 2024, Langone received the Golden Plate Award. This award comes from the American Academy of Achievement.

In Popular Culture

Ken Langone has been shown in popular media. Actor Ray Iannicelli played him in the 2017 HBO Films movie The Wizard of Lies. In the film, Langone turns down an offer to invest with Bernie Madoff. Langone is also featured in the documentary Client 9: The Rise and Fall of Eliot Spitzer. In this film, he talks about his disagreements with former New York Governor Eliot Spitzer.