Latest news with #KenLangone
AU Financial Review
05-05-2025
- Business
- AU Financial Review
Inside corporate America's fight against Trump's tariffs
As Donald Trump launched his trade war on April 2, billionaire Republican donor Ken Langone knew it would decimate Home Depot, the company he helped build into America's best-known DIY store. His gloom deepened as Trump followed up his 'liberation day' with a tariff regime on China so steep that many experts said it would amount to a de facto embargo on goods from the world's biggest exporter.
Yahoo
05-05-2025
- Business
- Yahoo
‘Feed the gorilla': How corporate America fought Trump's tariffs threat
As Donald Trump launched his trade war on April 2, billionaire Republican donor Ken Langone knew it would decimate Home Depot, the company Sign in to access your portfolio
Forbes
25-04-2025
- Business
- Forbes
Langone, Sorkin Discuss The American Dream At BCNY's Annual Luncheon
The Boys Club of New York (BCNY) held its 16th annual luncheon Wednesday at 583 Park Avenue. 300 guests came to support the organization, and to watch Andrew Ross Sorkin interview Ken Langone on the subject of mentorship and the American Dream. Co-chaired by Ritchey and David Howe, Tiffany and Claus Moller, Alexandra and Greg Mondre, Betsy and Rob Pitts, Hilary and Lyon Polk, Kathryn and Bill Tyree, and Cynthia and Jan van Eck, the event raised over $900,000 to support BCNY's innovative approach to youth development and its unique mentorship model programming. 'The core mission of the BCNY to serve the community has always been paramount to our involvement,' said Cynthia van Eck. 'It gives the boys role models to see what their future can look like and the opportunity to make it happen.' Betsy Pitts, Ritchey Howe, Alexandra Mondre, Ken Langone, Elaine Langone, Cynthia van Eck, Tiffany Moller Sylvain Gaboury/PMC/PMC A past Women's Board President, Van Eck was most excited about the new BCNY clubhouse, being built in Mott Haven, in the Bronx, as was BCNY Executive Director Stephen Tosh. 'There is so much need there,' said Tosh. 'I worked in Mott Haven for ten years before joining the Boys Club, and we will be filling a big void. We are opening a 30,000 square foot, state-of-the-art clubhouse with an additional 30,000 square feet of outdoor space. The soft opening will take place July 1, the full opening September 1. We expect to be serving about 1,000 boys a year directly, and another 1,000 indirectly who will be participants in our sports leagues and other activities. We are really excited and we feel this is a major step right now for the Boys Club in meeting the needs of boys in New York.' Board members who have volunteered for years have witnessed first-hand what the power of mentorship can do, and how being part of the Boys Club can change the trajectory of a boy's life in an incredibly positive way. Each has their own success story to share. Alexandra Mondre, Ritchey Howe Sylvain Gaboury/PMC/PMC 'I will never forget when a young man named Daouda who used to come to the Harriman clubhouse said to me, 'When I come here, I feel I have come home and I feel safe,'' said board member Anjali Melwani. 'He lived in a rough neighborhood in Brooklyn and had no friends. When he came to BCNY, he found a family.' 'I think the success stories at BCNY come in all sizes,' said co-chair and board member Ritchey Howe. 'Of course there are boys that have gone on to Julliard and Ivy League colleges, but just as important are those of a shy boy becoming more confident and finding a home at the clubhouse, and the comfort that gives his single mother. What is amazing at BCNY is it is for every underserved boy; it meets them where they are and helps them grow and have a better life.' Venket Varadarajan, Bryan Samanieg, Randy Jarama, Ken Langone, Alexander Alvarez, Kevin Loke, Orlando Nazario Sylvain Gaboury/PMC/PMC Board president Bill Tyree, who started volunteering at BCNY in 1985, highlighted the support BCNY gives its members even when they falter. BCNY believes in second chances. 'I was a mentor to a boy who got in to a prestigious prep school,' said Tyree. 'He was an academic, and he did very well there. Unfortunately, his senior year, he plagiarized his common application essay. One of the schools found out about it and notified the prep school; the boy was told to withdraw all the college applications that had that essay in it. He called the schools to explain his situation, but none would take him. With the help of Antonio Aponte, our Director of Educational and Career services, BCNY helped him through the process of getting into SUNY Binghamton, where he graduated Cum Laude. He has been a huge success ever since.' Ken Langone, Andrew Ross Sorkin Sylvain Gaboury/PMC/PMC The room was buzzing as guests dined on roasted salmon with couscous and vegetables, curious to hear two titans of finance speak during these uncertain times. After a beautiful introduction by Ritchey Howe - Langone was a friend of her father's – Sorkin and Langone took the stage, and Sorkin gave an introduction of his own. 'Ken Langone is the personification of the American Dream,' said Sorkin. 'He founded Home Depot, creating half a million jobs. One of the most impressive things he has done is he effectively raised five billion dollars, and gave $500 million of his own money, to change the fate of NYU Langone Medical Center. Those medical students do not pay tuition. Also, at a time when a lot of people don't want to say what they think, Ken Langone is a straight shooter.' Sorkin then asked Langone, who originally came from a modest background, if he felt the American Dream was still available today. 'The American Dream has never been better than it is right now,' Langone answered. 'With all of the mistakes we make in this nation, there is no nation on earth that is better than this country. And the sooner we recognize what we have, as opposed to what we don't have, the quicker we will come to the realization that a lot of kids like me have a chance to succeed. I never dreamed in a million years that I could do what I did. There isn't a better place, or a better time, to achieve the American Dream. I wish I was 21 and starting all over again.'
Yahoo
25-04-2025
- Business
- Yahoo
If you'd invested in Home Depot's IPO instead of a lawnmower, here's how much you'd have
Home Depot has revolutionized the home improvement industry over the past 45 years, growing from its first stores in Atlanta in 1979 to more than 2,300 locations at the end of 2024. Along the way, its stock became one of the best performers over the past four decades, consistently rewarding shareholders with strong earnings growth and regular dividends. Today, Home Depot is valued at roughly $360 billion, making it one of the most valuable companies in the U.S. The strong stock performance helped co-founders Arthur Blank, Ken Langone and the late Bernie Marcus become billionaires, according to Forbes. Investing in individual stocks can be extremely rewarding, but identifying the best-performing stocks is easier said than done. Many of the best financial advisors recommend investors use index funds to gain exposure to stocks, rather than trying to buy and sell individual stocks on their own. If you're looking for a financial advisor in your area, Bankrate's financial advisor matching tool can help. If only you could go back in time to Home Depot's IPO in September 1981 to purchase shares. A $1,000 investment in Home Depot at its IPO — say, the equivalent of a lawnmower — is now worth a staggering sum. Home Depot went public on September 22, 1981, at a price of $12 per share. As of April 22, 2025, the stock traded for about $353 per share. But Home Depot has split its stock 13 times since first going public. A single Home Depot share at the time of its IPO would now equal nearly 342 shares thanks to the stock splits. A $1,000 investment at $12 per share would have resulted in 83 shares in Home Depot's IPO (fractional shares weren't a thing in 1981). Those 83 shares are now the equivalent of roughly 28,363 shares, which would be worth about $10.01 million at today's prices. Home Depot has also paid dividends since 1987, which shareholders have enjoyed alongside the stock appreciation. Need an advisor? Need expert guidance when it comes to managing your investments or planning for retirement? Bankrate's AdvisorMatch can connect you to a CFP® professional to help you achieve your financial goals. The company's stock performance has been driven by its underlying business success. Home Depot is now the largest home improvement retailer in the world, generating net sales of $159.5 billion during its fiscal 2024 and $21.5 billion in operating income. Over the long term, you can't have strong stock performance without strong business performance. Here's how Home Depot's recent returns compare to a Vanguard S&P 500 ETF. 1-year total return (annualized) 3-year total return (annualized) 5-year total return (annualized) 10-year total return (annualized) Vanguard S&P 500 ETF (VOO) 6.9 percent 9.0 percent 15.3 percent 11.6 percent Home Depot (HD) 8.1 percent 8.2 percent 14.0 percent 13.8 percent Source: Morningstar as of April 22, 2025 The long-term performance of Home Depot's stock shows just how rewarding investing in individual stocks can be. If you do decide to own individual stocks, you'll want to remember that your results over time largely depend on the performance of the underlying business. Think about analyzing the company's business, not what you think the stock will do in the short term. Fortunately, there's a way to achieve success investing in stocks that doesn't require you to identify the winners ahead of time. Index funds allow investors to hold a diversified basket of stocks at a very low cost, earning the market return without the risk of picking individual companies. There are many index funds available, but ones that track the performance of the S&P 500 are often popular with investors because of their low cost and diversification benefits. You'll own 500 of the largest companies in the U.S. across various industries and economic sectors. It's a strategy that has produced annual returns of about 10 percent over many decades. Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation.
Yahoo
08-04-2025
- Business
- Yahoo
Tuesday's Campaign Round-Up, 4.8.25: Texas' Abbott finally calls a key special election
Today's installment of campaign-related news items from across the country. * NBC News reported that the North Carolina Supreme Court temporarily blocked a lower court's ruling 'that would have required that more than 65,000 votes cast in the disputed 2024 state Supreme Court race be recounted and verified.' * As Democratic officials start to feel some optimism about the 2026 midterm elections, the Democratic Congressional Campaign Committee announced this week that it's targeting 35 Republican-held House seats. The party will need a net gain of three seats to take back the majority in the chamber. * Home Depot co-founder Ken Langone, a longtime Republican donor, condemned the White House's trade tariffs in an interview this week. 'I don't understand the goddamn formula,' Langone told The Financial Times. * To the surprise of no one, Republican Rep. John James of Michigan launched a 2026 gubernatorial campaign this week. It will be his third bid for statewide office, following failed Senate campaigns in 2018 and 2020. * In Texas, Republican Gov. Greg Abbott finally scheduled a congressional special election to fill the vacancy left by the late Rep. Sylvester Turner's death. That said, voters in the Houston-area district won't get to choose a new representatives until November, leaving them without a voice in Congress for the next six months. * In Georgia, Sen. Jon Ossoff's re-election campaign raised $11 million in the first quarter, and if that sounds like a lot, it is: As Politico noted, the Democratic senator's haul was 'the most ever raised by an incumbent in the first quarter of an off-year.' * And while state attorneys general races tend not to generate a lot of national attention, The New York Times reported that former New York City Mayor Michael Bloomberg's group will spend $10 million to help elect Democratic attorneys general this year and in 2026. This first test will be this fall in Virginia, where a Republican incumbent, Jason Miyares, is seeking a second term. This article was originally published on
