Larry Gies net worth is estimated to be around $1.5 Billion as of 2024. He is an American entrepreneur and philanthropist. Larry Gies, the founder, president, and CEO of Chicago-based Madison Industries, has quietly built one of the world’s largest and most successful privately held companies.
He founded Madison Industries in 1994, and through strategic investments and acquisitions, he acquired or started dozens of companies across various industries.
In 2017, Gies and his wife, Beth Gies, donated a record $150 million to the University of Illinois at Urbana-Champaign, the most significant gift in the university’s history. In their honor, the business school was renamed the Gies College of Business.
Larry Gies Wikipedia & Biography
Here is the Larry Gies biography overview:
| Attribute | Detail |
|---|---|
| Full Name | Larry Walter Gies |
| Net Worth | $1.5 Billion |
| Date Of Birth | 1962 |
| Age | 61 Years |
| Nationality | American |
| Height | 5 Feet 6 Inch |
| Weight | 64 KG |
| Education | Northwestern University & the University of Illinois |
| Profession | Entrepreneur and CEO of Madison Industries |
| Larry Gies House | Illinois |
| Larry Gies Wife | Beth Gies |
| Larry Gies Donations | $150 Million (University of IL) |
Larry Gies Early Life And Education
Larry Gies was born in 1962 and raised in a small town in Illinois. He came from a humble background and worked various jobs, including at a McDonald’s, to support himself during college.
Gies attended the University of Illinois at Urbana-Champaign, earning a Bachelor’s in Accountancy in 1988. From the beginning, Gies had a strong work ethic and a passion for business, laying the foundation for his future success.
During his time at the University of Illinois, Gies found profound inspiration in the quality of education and the faculty at the College of Business. Professors like Walter Kreiger, who instilled in him the importance of financial discipline and strategic thinking, particularly influenced him.
Larry Gies Wife
Larry Gies is married to Beth Gies. Beth Gies graduated from the University of Illinois in 1989. She got a degree from the College of Agricultural, Consumer, and Environmental Sciences (ACES).
Beth and Larry Gies donated a historic $150 million to the University of Illinois in 2017, the most significant single gift ever to the university.
Larry Gies Madison Industry
Larry Gies is the Founder and CEO of Madison Industries, one of the world’s largest and most successful privately held companies. He started this company in 1994.
Madison Industries builds entrepreneurially driven, branded market leaders dedicated to making the world safer, healthier, and more productive by creating innovative solutions that deliver outstanding customer value.
The company has established market leaders in various industries, including filtration, medical, safety, rescue & firefighting equipment, heat transfer, industrial equipment, process improvement, instruments & controls, advertising, service outsourcing, and indoor air quality. These combined revenues exceed $10 billion.
In 2020, AACSB recognized Gies as an Influential Leader for his impact in the manufacturing and commercial services sector through Madison Industries.
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Larry Gies As A philanthropist
Mr. Gies is also actively involved in philanthropic efforts. He serves as the President of The Gies Foundation, which focuses on democratizing education and enhancing health.
Additionally, he played a crucial role in establishing The Gies Campus of Chicago Jesuit Academy, an entire scholarship school for 3rd to 8th-grade boys and girls on Chicago’s West Side.
Furthermore, he serves on the boards of Northwestern University, Amsted Industries, and the Accelerate Institute. Which aims to address the achievement gap in United States education.
Larry Gies Donation To The University Of Illinois
Beth not only felt stunned but also taken aback when her husband, Larry Gies, who was working, told her that he was considering donating $150 million to the University of Illinois College of Business.
Beth questioned, “Do we have that much money?” “What makes you want to give everything away?”
These were valid inquiries. Over the preceding twenty-three years, Gies had quietly established one of the world’s largest and most successful privately held enterprises.
He had accumulated substantial money as the founder, president, and CEO of Madison Industries, a Chicago-based company—even more than his spouse had anticipated.
Larry Gies, the Founder and CEO of Madison Industries, made a remarkable $150 million donation to the College of Business at the University of Illinois. This generous gift, announced in October 2017, remains the second-largest single donation ever made to a business school.
What Transformations Happened In University Of Illinois After Larry Gies Donations
Lets explore that how this transformative donation has impacted the Gies College of Business.
| Initiative | Description |
|---|---|
| Enrollment Surge | Total enrollment has soared to 9,500 students from the initial 5,100. This growth is largely attributed to significant investments in online education, allowing Gies to disrupt the higher education landscape. The Gies iMBA program now accounts for 10% of all online MBA students in the country. |
| Faculty Expansion | The faculty has grown to just over 200 professors, up from 140. Distinguished senior professors from institutions like Northwestern University’s Kellogg School of Management and the University of Texas’ McCombs School of Business have joined the team. |
| Scholarship Support | Scholarships for undergraduate students have increased by an impressive 150%. |
| New Programs and Centers | The college has launched new degree and certificate programs, as well as established academic centers and labs. |
| Experiential Learning | Students engaged in experiential learning projects have increased by a remarkable 400%. |
| Inspiring Others | Larry Gies’ gift also inspired other alumni to contribute. On the day of the announcement, additional donations poured in, totaling around $200 million beyond Gies’ pledge. Annual giving nearly tripled since before the gift. |
FAQs
Larry Gies donated $150 Million to the University of Illinois.
Yes Larry Gies is a billionaire.
He is an American entrepreneur and philanthropist. Larry Gies, the founder, president, and CEO of Chicago-based Madison Industries.
He is graduated from Illinois.
In 2017, alumni Larry and Beth Gies donated US$150 million to the school, renaming it the Gies College of Business in their honor.
As of 2024, estimates put Larry Gies’ net worth at around $1.5 billion.
Conclusion
In conclusion, projections indicate that Larry Gies will achieve a net worth of about $1.5 billion in 2024. This reflects his wise investment choices and successful business ventures.
His charitable endeavors, primarily focused on community development, healthcare, and education, have profoundly impacted many lives.
In the corporate and charitable worlds, Larry Gies is definitely someone to keep an eye on as he grows his wealth and gives back to the community.
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