Early Life and Education
Leonard Norman Stern was born in New York City on March 28, 1938. He is the son of Max Stern, a German immigrant who founded Hartz Mountain Corporation, a pet supply company. Stern graduated from New York University (NYU) in 1957 with a Bachelor of Science degree and earned an MBA from NYU's business school in 1959.
Rise to Success
Stern took over the family business, Hartz Mountain, in 1959. He expanded the company's focus beyond pet foods to become the leading pet supply manufacturer in the United States. By the early 1960s, he had gained complete control of Hartz Mountain. In 1966, he began diversifying into real estate, acquiring a warehouse in New Jersey. Hartz Mountain Industries, under his leadership, grew to own over 260 properties, primarily industrial and commercial spaces. Stern sold the pet supply division in 2000, allowing him to concentrate on real estate.
Key Business Strategies
Stern's business strategies included aggressive expansion and diversification. He expanded Hartz Mountain's product lines and distribution networks. In real estate, he focused on industrial spaces near New York City to capitalize on logistics demand. He expanded the company's real estate holdings to include more than 210 buildings with over thirty-eight million square feet of industrial, office, retail, and hotel space in New York and New Jersey.
Philanthropy
Stern is a well-known philanthropist. He founded Homes for the Homeless in 1986. He has made significant donations to New York University, including a $30 million donation that led to the renaming of the Leonard N. Stern School of Business. In 2021, he made an additional $50 million donation to NYU Stern to support undergraduate scholarships.