Early Life
Albert H. Nahmad was born in Panama and later emigrated to the United States. He studied engineering at the University of New Mexico and Purdue University.
Rise to Success
In 1973, Nahmad acquired a stake in Watsco, a then-small publicly traded company. He employed an acquisitive strategy, growing Watsco from a market capitalization of $22 million in 1989 to $7.3 billion at the end of 2023. Under his leadership, Watsco has become the largest distributor of air conditioning, heating, and refrigeration products.
Key Business Strategies
Nahmad's key strategy involved decentralization and empowering the entrepreneurs within the acquired businesses. This allowed Watsco to grow significantly through numerous acquisitions.
Philanthropy
Nahmad is actively involved in philanthropy. He is the chair of the Miami Cancer Institute's Board of Directors. He also established the Albert H. & Jane D. Nahmad Foundation, which focuses on education, philanthropy, and human services. The foundation's assets are approximately $33.7 million. In 2024, the foundation made 53 awards. In 2017, he opened the Albert H. Nahmad Panama Canal Gallery.