Building an economic empire is a task that requires years of dedication and strategic vision, and only a few manage to materialize it. One of these exceptional cases is that of Steven Udvar-Házy, an entrepreneur who, after fleeing from the Soviet occupationbecame a pioneer of the airplane lease industry.
Its history stands out for itsBusiness Xito And also for its ability toransform adversities In opportunities. His life passed boxes for some cents the time in his youth to preside over one of the most influential companies in the world.
Steven Udvar-Házy’s story
Steven was born in Hungary In 1946, but his childhood was marked by the Soviet occupation, which led his family to emigrate to United States In 1958. From a young age, the businessman consumed information about all kinds of aviation, taking his first Flight lessons during his teens while working in a Manhattan warehouse winning 30 cents per hour.
At age 20, Steven lived the transition from propeller planes to reaction aircraft, a change that aroused an innovative idea in him. Identified the need for a business model based on the airplane lease, since the airlines faced difficulties in acquiring the expensive aircraft of the time. In 1973, he founded International Lease Finance Corporation (ILFC), renting your first plane, a Douglas DC-8, to Aeromexico.
In a very short time, ILFC was consolidated as one of the most important leasing companies in the world, attracting the attention of large investors. In 1990, Udvar-Házy sold the company to AIG for 1.3 billion dollars, But his ambition did not stop there. In 2010, he launched a new company, Air Lease Corporationthat went to the bag the following year and in which it is still president.
Your commitment to philanthropy
In addition to being a successful businessman, Udvar-Házy is known for his generosity and commitment to the Education and culture. In 2000, donated 66 million dollars toThe Smithsonian Institute, which allowed to build the Steven F. Udvar-Hazy Center, an annex of the National Air and Space Museum. This place houses more than 120 aircraft and 140 spatial exploration exhibitions, including the iconic ship Discovery.
The philanthropy of this aeronautical tycoon did not stop there. Together with his wife Christine, dono more than 100 million dollarsa educational institutions such as Stanford and the Embry-Riddle Aeronautics University, where its name is on the Prescott campus. These contributions seek to promote innovation and education in the aerospace industry.
In addition, Steven also decided to finance the construction of an educational center in the UTAH Technological University, that bears the name of his parents, as a tribute to his roots and family support that inspired him in his way to success.
How much is the heritage of Steven Udvar-Házy
At 78, Steven Udvar-Házy accumulates an estimated fortune in 4.4 billion dollars, according to Forbes. This impressive heritage not only reflects its success as an entrepreneur, but also its ability to reinvent and lead an industry as complex as that of airplane leasing.
Source: Ambito
