George R. Roberts
George R. Roberts | |
|---|---|
| Born | September 14, 1943 Houston, Texas, U.S. |
| Occupation(s) | Investor, businessman, philanthropist |
| Years active | Late 1960s–present |
| Known for | Co-founder of Kohlberg Kravis Roberts (KKR) |
George Rosenberg Roberts (born September 14, 1943) is a prominent American billionaire investor and co-founder of Kohlberg Kravis Roberts (KKR), which he established in 1976 alongside Jerome Kohlberg and his cousin Henry Kravis. As of August 2025, his fortune is approximated at US$17.1 billion.
Early life
Roberts was born in Houston, Texas, into a Jewish household. He completed his education at Culver Military Academy in 1962, an institution that later recognized him as "Man of the Year" in 1998. He obtained a Bachelor of Arts degree from Claremont McKenna College in 1966 and subsequently earned a Juris Doctor from the University of California, Hastings College of the Law in 1969.
Career
Starting his professional journey at Bear Stearns during the late 1960s, Roberts achieved partnership status by the age of 29. Together with Kohlberg and Kravis, he was instrumental in pioneering some of the earliest leveraged buyouts, notably including the purchase of the Orkin Exterminating Company in 1964. Their acquisitions extended to firms such as Stern Metals, Incom, Cobblers Industries, and Boren Clay. While many ventures were profitable, their $27 million investment in Cobblers ultimately resulted in bankruptcy.
Following unsuccessful efforts to create an internal investment fund at Bear Stearns and increasing friction with its leadership, Roberts and his associates departed in 1976 to launch KKR. Initial financial support was provided by investors including Henry Hillman. By 1978, changes in regulations allowed KKR to secure its first institutional fund with commitments from investors.
In 2018, Roberts's net worth was reported to be $5.9 billion.
Personal life
Roberts married Leanne Bovet in 1968; she was the daughter of Eric B. Bovet and Dorothy Champion from San Mateo, California. Eric Bovet descended from Swiss immigrant Louis Bovet and Grace Borel, whose father Antoine Borel was a notable banker in San Francisco and San Mateo. Leanne Bovet passed away in 2003.
On May 22, 2010, Roberts wed Linnea Conrad, a partner at Goldman Sachs.
Philanthropic and public positions
Roberts is the founder and chairman of the Roberts Enterprise Development Fund (REDF), a nonprofit organization dedicated to creating employment opportunities for individuals facing significant barriers to work through social enterprises. In 2023, REDF's revenue surpassed $35 million.
He holds trustee positions at both Claremont McKenna College and Culver Military Academy, and serves on the boards of the San Francisco Symphony, San Francisco Ballet, and the Fine Arts Museum. In 2012, Roberts contributed $50 million to Claremont McKenna College, followed by an additional $140 million donation in 2022.
Awards and honors
- Golden Plate Award from the American Academy of Achievement, awarded in 1988
External links
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- 1944 births
- 20th-century American businesspeople
- 21st-century American businesspeople
- 21st-century American Jews
- American billionaires
- American financiers
- American investors
- Bear Stearns people
- Businesspeople from California
- Businesspeople from Houston
- Claremont McKenna College alumni
- Culver Academies alumni
- American philanthropists
- Kohlberg Kravis Roberts people
- Living people
- People from Atherton, California
- Private equity and venture capital investors
- University of California College of the Law, San Francisco alumni