Early Life and Education
Peter R. Kellogg was born on September 5, 1942. He attended the Rectory School and the Berkshire School before matriculating at Babson College, although he later dropped out. His father, James Crane Kellogg III, was a prominent figure in the Wall Street firm Spear, Leeds & Kellogg, which shaped Peter's future career path.
Rise to Success
Kellogg joined his father's firm, Spear, Leeds & Kellogg, in 1967. He rose through the ranks to become the leader of the firm in the 1980s. Under his leadership, the firm became the first specialist brokerage to control more than 10% of the stocks trading on the New York Stock Exchange. Kellogg's strategic decisions and leadership were instrumental in the firm's success.
Key Business Strategies
A pivotal moment in Kellogg's career was the sale of Spear, Leeds & Kellogg to Goldman Sachs in 2000 for $6.5 billion. After this, Kellogg shifted his focus to IAT Reinsurance Co., where he served as CEO until 2015 and continues to chair the company. Kellogg's investments have been a primary source of his wealth.
Philanthropy
Peter Kellogg is also known for his philanthropic endeavors. He and his wife purchased and renovated the John F. Peto Studio Museum in Island Heights, NJ, to preserve its historical significance. Ownership of the museum was later transferred to the Museum Board in 2021-2022. Kellogg has donated over $4 million to the U.S. ski and snowboarding teams.