Early Life and Career
Stewart Rahr was born in 1946 in Queens, New York, and raised in a Jewish family. He began his professional life working in his father's Brooklyn pharmacy. After graduating from New York University with a B.A., he briefly attended New York University Law School but dropped out to take over the family pharmacy business. Rahr focused on the wholesale side of the business and expanded it into Kinray Inc. By 2010, Kinray served over 2,000 pharmacies in the Northeastern United States and generated revenues of over $5 billion.
Rise to Success
Rahr grew Kinray through strategic stockpiling of pharmaceuticals, using drug price inflation to maximize profits. This practice later drew scrutiny. In 2010, he sold Kinray to Cardinal Health for $1.3 billion, making him a self-made billionaire.
Key Business Strategies
Rahr expanded the family pharmacy business into a large operation named Kinray Inc. He focused on customer service and built innovative supply agreements with pharmaceutical manufacturers. He also invested heavily in automation to keep prices low and service high.
Philanthropy
Rahr is renowned for his philanthropy, contributing millions to various causes. He has made significant donations to the Make-A-Wish Foundation, the Prostate Cancer Foundation, the Arnold Palmer Hospital for Children, and many other charities. He has donated over $25 million to Make-A-Wish.