Early Life and Education
Robert Kenneth Kraft was born on June 5, 1941, in Brookline, Massachusetts. His father was a dress manufacturer. He attended Columbia University on an academic scholarship, where he served as class president and played tennis and lightweight football. He graduated from Columbia in 1963 and earned an MBA from Harvard Business School in 1965.
Rise to Success
Kraft's business career began with Rand-Whitney Group, a packaging company run by his father-in-law. In 1968, he took control of the company through a leveraged buyout. In 1972, he founded International Forest Products, a trader of paper commodities. These two companies formed the foundation of the Kraft Group. He expanded into sports by acquiring the New England Patriots in 1994 for $172 million, a move that would prove highly successful. The team has since won six Super Bowls.
Key Business Strategies
Kraft's key strategies include acquiring undervalued assets and building strong teams. He has a keen eye for talent and is known for hiring good people and empowering them. His vision extended beyond football, as he also founded the New England Revolution of Major League Soccer in 1996. He also invested in esports with the Boston Uprising.
Philanthropy
Kraft and his family have a long history of philanthropy, with lifetime commitments of nearly $1 billion to various causes. They have supported education, healthcare, social justice, and Jewish organizations. In 2019, he founded the Foundation to Combat Antisemitism and invested $25 million in the “Stand Up to Jewish Hate” campaign. The Krafts have also supported many institutions including Columbia University, Harvard Business School, Brandeis University, and Boston College.