Herbert Kohl net worth is $400 million as of 2024. He was an American-based businessman, philanthropist, and Democratic politician from Milwaukee, Wisconsin. He is known for serving 24 years as a United States senator from Wisconsin, from 1989 to 2013, and before that, he served as chairman of the Democratic Party of Wisconsin. He was also famous for being the president and chief executive officer of Kohl’s department store chain, which he started alongside his brother and father. Following that, he is the namesake of the Kohl Center arena on the University of Wisconsin–Madison campus.
In this post, we will dive deep into Herbert Kohl net worth, sources of income, his career, and other things related to his professional life. Keep reading!
Herbert Kohl Net Worth Is $400 Million! Here’s A Run Down Of His Sources Of Income In Detail:
According to WealthyGorilla, Herbert Kohl net worth net worth as of March 2023 is $400 million. His sources of income include Kohl’s department stores chain, which has 50 grocery stores, several department stores, pharmacies, and liquor stores. Other than that, in 1985, Kohl purchased the Milwaukee Bucks, a professional basketball team in the National Basketball Association (NBA), which also plays a big part in his income. He has also been involved in business ventures and Philanthropy throughout his life.
How He Used To Spend His Money?
Kohl was deeply committed to his community and the state of Wisconsin. He generously contributed his fortune to various civic and educational causes. In 1985, Kohl purchased the Milwaukee Bucks basketball team. He also spent millions on establishing a national childcare training and financial aid program. Moving on, his entire life, he lived in mansions, drove expensive cars, and traveled to different countries with his family.
Pictures of Herbert Kohl
Exploring His Early Days and Career in Detail
Born on February 7, 1935, in Milwaukee, Wisconsin, Herb Kohl was the son of Mary (née Hiken) and Max Kohl. His father, a Polish Jewish immigrant, and his mother, a Russian Jewish immigrant, instilled in him a strong work ethic and entrepreneurial spirit. He attended Washington High School and later pursued higher education. He earned a Bachelor of Science from the University of Wisconsin–Madison in 1956 and a Master of Business Administration (MBA) from Harvard Business School in 1958.
During his undergraduate years, he was a member of the Pi Lambda Phi fraternity and even shared a room with Major League Baseball Commissioner Bud Selig. He started his professional life in 1958 by serving in the United States Army Reserve.
After completing graduate school, Kohl ventured into the world of business. He worked as an investor in real estate and the stock market, and eventually established his own company, Kohl Investments, to manage these assets. After some time, with his brother and father, Kohl played a pivotal role in founding the Kohl’s department store chain and became the president and chief executive officer of the corporation. As of now, the chain includes 50 grocery stores, several department stores, pharmacies, and liquor stores.
He later became the Chairman of the Democratic Party of Wisconsin, and from 1989–2013, he served as a United States Senator from Wisconsin for 24 years. In 1985, Kohl purchased the Milwaukee Bucks, a professional basketball team in the National Basketball Association (NBA). His primary motivation was to prevent the team from relocating out of Milwaukee. In 1990, he established the Herb Kohl Educational Foundation. The foundation recognized outstanding students, teachers, and schools through grants.
Throughout the 2000s, he served the community, and by the time of 2016, Forbes listed his net worth as $630 million. He died on December 27, 2023 (aged 88), in Milwaukee, Wisconsin, U.S.
Conclusion
Herbert Kohl was one of the prominent yet richest politicians in American who has served wonders for the community for decades. In this post, our focus was on giving a detailed breakdown of his net worth, and we hope you guys found it informative. Thanks for reading!