[26] In 2011, she founded an investment office, PSP Capital Partners. [59] Pritzker is a former chair of the Museum of Contemporary Art, Chicago. [13] Responding to the Wall Street Journal, Pritzker noted she had no ownership in the bank, either direct or indirect, and that the bank's reasons for failure "were complex, including changes in accounting practices, auditing failures, reversals in regulatory positions and general economic conditions". [25] In 2009, she co-founded Artemis Real Estate Partners LLC, a real estate investment management company, with Deborah Harmon. [62] The Pritzkers also established ChicagoRun, a program that prepares Chicago-area children to run their first 5k race. Its fortune arose in the 20th century—particularly through the founding and expansion of the Hyatt hotel corporation. The foundation focuses on physical activity for young people and increasing economic opportunity in Chicago. Its fortune arose in the 20th century—particularly through the founding and expansion of the Hyatt hotel corporation. [1][10] In 1987, she founded Classic Residence by Hyatt, later renamed Vi, upscale housing for seniors as an alternative to nursing homes. [3] When the former died in 1999, the family split the business into 11 pieces worth $1.4 billion each[3] (and chose to settle a lawsuit from two family members, who apparently received $500 million each, in 2005). Pritzker was nominated as United States Secretary of Commerce by President Barack Obama on May 2, 2013. [65], In March 2020, Pritzer set up the Illinois COVID-19 Response Fund, to assist non-profit organizations during the COVID-19 pandemic, after receiving a call from her brother, Illinois Governor J. [13] In July 2001, the FDIC seized the bank after the recapitalization could not be resolved. [11][22] Jay intended to keep the family business together, devising a system of trusts that would allow individual family members to receive money from the trusts to meet their needs; however, the family's wealth was to be primarily maintained in the trusts to grow the businesses and fund philanthropic endeavors. In 1972, Don died suddenly of a heart attack when Penny was 13 years old. [55][56], Following her tenure as Secretary, Pritzker returned to PSP and the private sector. [30] Under her direction, the campaign reached out to small donors. From June 2013 through January 2017, she served as U.S. Secretary of Commerce in the Obama Administration. Januar 1965 in Chicago, Illinois) ist ein US-amerikanischer Politiker, Geschäftsmann, Philanthrop und seit dem 14. [58] Pritzker was Advisory Board Chair of Skills for America's Future (SAF), a policy initiative of the Aspen Institute. She also serves on the board of Microsoft and is chair of the Carnegie Endowment for International Peace. [63] On March 26, 2014, Elle honored Pritzker, with others, at the Italian Embassy in the United States during its annual "Women in Washington Power List". "[15], In 1995, Penny was named as one of three successors to the retiring Jay Pritzker besides his son Tom and his cousin Nick. [7][8] She graduated with a Bachelor of Arts in economics from Harvard College in 1981. [14][15][16] Subsequently, the Pritzker family reached an agreement with regulators to pay $460 million. The Pritzker family is an American family engaged in entrepreneurship and philanthropy, and one of the wealthiest families in the United States of America (staying in the top 10 of Forbes magazine's "America's Richest Families" list, since the magazine began such listings in 1982). Robert Pritzker, who married three times, also created a family of five children–the oldest of whom is Jennifer. B. Pritzker. [1] Pritzker met Obama at a Chicago YMCA where her son participated in a basketball program coached by Obama's brother-in-law Craig Robinson. Before entering government service, Pritzker had been involved in many Chicago organizations, including the Chicago Board of Education, Museum of Contemporary Art, Chicago, and her own foundation, the Pritzker Traubert Family Foundation. [13] In 2000 it became clear the bank was faltering. American business executive and entrepreneur who became the 38th United States Secretary of Commerce in 2013 and made Forbes in 2011. [1], After she earned her degrees, Pritzker joined the Pritzker organization encouraged by her cousin Nick Pritzker. [1][11] The project struggled at first, losing $40 million in the first 18 months, but turned around after changes in marketing and management. [13] She said the bank complied with "fair lending laws" and ethical business practices. [1][29], Pritzker was an early supporter of Obama's political career, helping to finance his 2004 Senate campaign.