Robert Kraft is a billionaire who has made his fortune in the food, retail, and paper processing industries. His most famous accomplishments include the New England Patriots football team and the New England Revolution soccer team.
Robert Kraft was born in Brookline, Massachusetts to Russian Jewish immigrant parents Theodore Kraft and Rose (née Kooliner). He attended Tufts University but left with one semester remaining to join Rand-Whitney Group as an assistant product manager for their paper-bag machinery company Eastern Paper Bag Co., where he eventually became executive vice president. In 1980, he bought stock in a Westchester, Illinois company called International Forest Products Inc. (INFP) and served as president.
Kraft’s company, therefore, has since become the leading paper bag manufacturer in the United States with a net worth of over $1.5 billion. Robert Kraft greatly expanded INFP’s business and became one of the wealthiest men in America. In 1987 he served as president of Bear Stearns & Co. until his resignation after the collapse of Continental Illinois Bank in July 1989. It was noted that he earned $55 million for his Bear Stearns role during a three-year period. He also has been credited with predicting the dot-com bust. During that same period he co-founded The Kraft Group, a private investment company.
Robert Kraft owned the New England Patriots from 1986 to 1992. He served as the team’s president from 1986 to 2004, selling it in 2005 for $175 million. He has been married to Myra Kraft since 1972 and they have three children: Steven, Jonathan, and David. In 1985 he purchased the New England Revolution as a soccer franchise. There he was both owner and owner-operator of the team until his purchase by Major League Soccer in 2006, when it became his second professional franchise (the New England Sports Ventures organization is co-owner with Robert Kraft). Refer to this article for additional information.
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