Early Life and Education
Penny Sue Pritzker was born on May 2, 1959, in Chicago, Illinois, to Donald and Sue Pritzker. Her father was a co-founder of Hyatt Hotels. Pritzker comes from the prominent Pritzker family, known for their vast business empire. She attended Castilleja School and graduated from Harvard College in 1981 with a Bachelor of Arts in economics. She furthered her education at Stanford University, earning a Juris Doctor and an MBA in 1985.
Rise to Success
After completing her degrees, Pritzker joined the family's business ventures. She founded Classic Residence by Hyatt (later Vi), an upscale housing venture for seniors. She later founded Pritzker Realty Group in 1991 and served as the chairperson of Superior Bank of Chicago from 1991 to 1994. She was a key fundraiser for Barack Obama's presidential campaigns and was appointed U.S. Secretary of Commerce by President Obama in 2013, serving until 2017.
Key Business Strategies
Pritzker is the founder and chairman of PSP Partners, a private investment firm with ventures in real estate, hedge funds, and startups. She is also the co-founder of Artemis Real Estate Partners. Pritzker's business strategy involves a long-term, fundamental approach to investing and building market-leading businesses. She has been involved in developing diverse companies, including Vi (formerly Classic Residence by Hyatt) and The Parking Spot.
Philanthropy
Pritzker is actively involved in civic and philanthropic activities. She and her husband, Bryan Traubert, co-founded The Pritzker Traubert Foundation, which focuses on increasing economic opportunity for Chicago's families. She has also supported various organizations focused on economic prospects and lifelong learning opportunities. In 2021, she made a $100 million gift to Harvard University to support the Department of Economics.