Stewart Rahr Net Worth:
2.3 Billion USD
Stewart Rahr was the owner of the largest privately owned pharmaceutical distributor in the world, Kinray (until it was bought out by Cardinal Health in 2010). He went from a law school dropout to billionaire. In 1969, he started working for his father’s pharmacy in Brooklyn, building this generic drug distribution company into a multibillion-dollar corporation. He started in distribution, working tirelessly purchasing from manufacturers and selling to mom-and-pop pharmacies.
Rahr is affectionately known as “Stewie Rah Rah, the No. 1 King of all fun”. An ‘overnight billionaire’ that took him more than three decades to morph into. Rahr’s net worth is estimated at $2.3 Billion. Forbes lists him as #879 Billionaire of the World, ranked as #330 in the United States and #183 on Forbes 400 List of 2009.
How he made his fortune
Want free money?
Rahr took over Kinray Pharmacy from his father at the time when the company had just five employees and less than $1 million in sales. During his rein, he grew the company into a $5 billion revenue enterprise, employing over 1000 and servicing over 4000 pharmacies in the Northeast. .
In the fall of 2010, Rahr sold his company to Cardinal Health for $1.3 billion in an all-cash deal. He expressed his excitement in working along with Cardinal. He was pleased with Cardinal’s business vision being identical with his own believes – attracting great people, commitment to the success of independent pharmacies, and the valuable role of retail pharmacies services being an integral provider of the evolving health care system.
What he does now
Besides his huge success in business, he has made a name for himself as an active philanthropist with his loyal and generous contributions to many charities. He pursues any cause that touches his heart. His generosity has benefitted countless organizations: The Shriners Children’s Hospital, the Rainforest Foundation and the Christopher Reeves Coalition just to name a few. His favorites are Operation Smile, the Robin Hood Foundation and the Melanoma Research Alliance. He serves on the Board of Director of the Make-A-Wish Foundation, which grants wishes to children with life-threatening illnesses, and is known as the largest individual Make-A-Wish donor in the world.
Now that he has sold is company, he devotes most of his time to philanthropy, in particular, supporting medical research. In his spare time, he is looking into ‘owning a sports franchise in basketball or football’… Besides his golf, his latest ‘calling’ is putting effort into getting his good friend, Donald Trump, to run for the oval office.
What we can learn
Rahr strongly believes in giving back to society. His favorite inspirational quote is from Winston Churchill: “We make a living by what we get. But we make a life by what we give.” His relentless pursuit of customers and tireless work ethics, along with his genuine concern for his employees propelled him into the success story he stands for today. With hard honest work, coupled with caring/looking out for the less-fortunate and relentless pursuit of giving back, we all can apply Rahr’s life experiences to enrich our own lives.
Next, you should check out our latest post on how to become a billionaire.