Early Life
Herbert A. Allen Jr. was born in 1940. He is the son of Herbert A. Allen Sr., a stock trader, and Kathleen Allen. He graduated from Williams College in 1962 with a Bachelor of Arts/Science. Allen Jr. has one sister, Susan Allen. His father's older brother, Charles, founded Allen & Company in 1922.
Rise to Success
Allen joined Allen & Company immediately after graduating from Williams College. He became president of the firm in 1966 at the age of 27. Under his leadership, Allen & Company purchased a controlling interest in Columbia Pictures in 1973. He oversaw the sale of Columbia Pictures to The Coca-Cola Company in 1982, securing a seat on Coca-Cola's board of directors. In 2002, he ceded control of the firm to his son, Herbert Allen III. Allen also founded the Sun Valley Conference in 1982, a premier gathering of business leaders and celebrities.
Key Business Strategies
Allen & Company, under Herbert Allen Jr., focused on specialized services, particularly within the media and entertainment sectors. The firm is known for its discretion and long-term relationships with clients. A key strategy was the acquisition of stakes in media companies, as seen with Columbia Pictures, and leveraging those investments for significant returns.
Philanthropy
In 1998, Herbert Allen Jr. donated $20 million to Williams College.