⬅ # 298 Jim Pattison|# 300 Yi Zheng ➡

# 299 Leonard Stern 

$9.21B

Real Time Net Worth
as of 12/11/2024

# 299 Leonard Stern 

$9.21B

Real Time Net Worth
as of 12/11/2024
OccupationChair and CEO, Hartz Mountain Industries
Source of WealthReal Estate
Age86
ResidenceNew York, New York
Marital StatusMarried
Children3
EducationMBA, Leonard N. Stern School of Business; BS, New York University
Age-Adjusted Net Worth$1.58B
Leonard Stern
Leonard Stern
United States
Net worth: $9.21B

Self-Made Score 

Breitling Superocean 46 Automatic Black Dial Men's Watch

Wealth History

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Biography

Early Life and Education

Leonard Norman Stern was born on March 28, 1938, to Max and Hilda Stern, both immigrants from Germany.
His father, Max Stern, emigrated from Weimar Germany to the U.S. in the 1920s and built up the family business, Hartz Mountain Corporation (HMC), primarily selling pet supplies.
Leonard Stern graduated from New York University (NYU) in 1957.

Career

In 1959, Leonard Stern joined his father's pet supply business, Hartz Mountain Corporation (HMC).
By the early 1960s, Stern exercised absolute control over Hartz Mountain Corporation (HMC) after purchasing his siblings' shares.
He expanded the family business into real estate in 1966, acquiring a warehouse in New Jersey.
Stern ventured into publishing, energy, capital management, and carpet cleaning.
In the mid-1980s, Stern acquired The Village Voice, a New York City weekly newspaper, eventually selling it to New Times Media.
Stern was intensely engaged as a board member of Rite Aid in the mid-to-late '90s during a period of financial controversy for the company.

Legal and Image Problems

Stern faced legal issues and class-action suits related to his involvement as a board member of Rite Aid, accused of breaching fiduciary duty to shareholders.
He was also accused of using his influence to increase shelf space for Hartz's pet products in Rite Aid stores, settling a lawsuit for $11 million in 1999.
Stern resigned from the Rite Aid board in late 2001 amidst these controversies.

Philanthropy

In 1986, Stern founded Homes for the Homeless and serves as its chairman.
He has a collection of Cycladic antiquities, now under the custodianship of the Hellenic Ancient Culture Institute.
Stern made a significant donation of $30 million to New York University's business school, resulting in its renaming in his honor.

Personal Life

Leonard Stern has been married twice, first to Judith Stern Peck, a family therapist, and then to Allison Maher, a former model and TV producer.
He has three children with Judith Stern Peck: Emanuel T. Stern, Edward J. Stern, and Andrea C. Stern.
Leonard Stern has a son, Emanuel T. Stern, who runs the family's real estate business.
Another son, Edward J. Stern, was involved in hedge fund management and faced legal issues related to market timing of mutual funds.
Stern's daughter, Andrea C. Stern, is a photographer.
He married Allison Maher in 1987, who is a trustee and vice-chairman of the Wildlife Conservation Society.

Leonard Stern's Wealth is Equivalent to:

7,088,530 Herman Miller Aeron Chairs

Herman Miller Aeron Chair

1,742,289 Gold Bars (50 gram)

24K Solid 50g Gold Ingot

94,108 Tiny Homes

Tiny House, Two Bedroom Solar Prefab Home

How long would it take you to become as rich as Leonard Stern?

If you started with $10,000 and invested an additional $500 each month at a 43.53% CAGR, it would take you 5 years to reach Leonard Stern's net worth of $9.21B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 63.87% compared to 28.04% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Leonard Stern is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Leonard Stern, Real Estate is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Affiliate Disclosure: Some of the links on this page are affiliate links. This means that, at no additional cost to you, we may earn a commission if you click through and make a purchase. We only recommend products or services we believe will add value to our readers.

Edited by: Lee Bailey