In this article, we will take a deep dive into the life and career of Brad Gerstner. We will discuss his early life, education, career path, and the businesses he has founded or been a part of. Additionally, we will cover his personal life, net worth, and philanthropic endeavors.
Early Life and Education
Brad Gerstner was born in 1971 in Peoria, Illinois, and grew up in a working-class family. He attended Bradley University, where he studied marketing and economics, and graduated in 1993. After college, he worked in marketing and advertising before pursuing an MBA at Harvard Business School, which he completed in 1998.
Career Path
After completing his MBA, Gerstner started his career at the management consulting firm, The Boston Consulting Group. There, he advised clients in the travel and hospitality industry, which eventually led him to co-found his first business, National Leisure Group, in 2001. National Leisure Group was a provider of vacation packages and cruise bookings, which grew to become the largest provider of hotel rooms in Las Vegas.
In 2005, Gerstner sold National Leisure Group to the private equity firm, Great Hill Partners, for $200 million. After the sale, Gerstner served as an entrepreneur in residence at General Catalyst, a venture capital firm. While he was there, he co-founded Room 77, a hotel search engine that raised over $43 million in funding before Google acquired it in 2014.
Gerstner then founded his current company, Altimeter Capital, in 2008. Altimeter Capital is a technology-focused investment firm that has invested in companies such as Facebook, Uber, and Airbnb.
National Leisure Group
National Leisure Group was founded in 2001 by Gerstner and his business partner, Rob Torres. The company was a provider of vacation packages and cruise bookings, which grew to become the largest provider of hotel rooms in Las Vegas. In 2005, Gerstner sold National Leisure Group to the private equity firm, Great Hill Partners, for $200 million.
Room 77
Gerstner co-founded Room 77 in 2009 while he was serving as an entrepreneur in residence at General Catalyst. The hotel search engine raised over $43 million in funding before Google acquired it in 2014.
Altimeter Capital
Gerstner founded Altimeter Capital in 2008, a technology-focused investment firm that has invested in companies such as Facebook, Uber, and Airbnb. The firm has raised over $3 billion in capital and has over 50 employees.
Personal Life
Gerstner, who has two children, is married and lives in San Francisco. He has gained recognition for his philanthropic work, which includes serving on the boards of The Posse Foundation and Teach For America. Additionally, Gerstner and his wife have made significant donations to the Boston Children’s Hospital and other charitable organizations.
Net Worth
As of 2023, Brad Gerstner’s net worth is estimated to be around $500 million, primarily from his successful business ventures and investments.
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FAQs:
Q: What is Brad Gerstner known for?
A: Brad Gerstner is known for being the founder of several successful businesses, including National Leisure Group, Room 77, and Altimeter Capital.
Q: What is Altimeter Capital?
A: Altimeter Capital is a technology-focused investment firm that has invested in companies such as Facebook, Uber, and Airbnb.
Q: How did Brad Gerstner start his career?
A: After completing his MBA at Harvard Business School, Gerstner started his career at The Boston Consulting Group, where he advised clients in the travel and hospitality industry.
Q: What is National Leisure Group?
A: National Leisure Group was a provider of vacation packages and cruise bookings, which Brad Gerstner co-founded in 2001. It grew to become the largest provider of hotel rooms in Las Vegas and was later sold for $200 million to Great Hill Partners.
Conclusion:
Brad Gerstner is a successful entrepreneur and investor with a net worth of around $500 million. He has founded or co-founded several businesses, including National Leisure Group, Room 77, and Altimeter Capital. Despite his success, he remains committed to philanthropy and has made significant contributions to various charitable organizations.
