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By 1924, Kresge was worth approximately $375,000,000 ($3.83 billion in 2009 dollars) and owned real estate of the approximate value of $100,000,000. Personal life. He was married and divorced at least twice by 1928. Kresge and his family were members of Detroit's North Methodist Episcopal Church.
- Eastman Business College
- October 18, 1966 (aged 99), East Stroudsburg, Pennsylvania, U.S.
- Sebastian Spering Kresge, July 31, 1867, Allentown, Pennsylvania, U.S.
- Kmart
Mar 19, 2024 · By the time of Kresge’s death in 1966, the foundation had distributed $70,000,000 in grants with a remaining net worth of $175,000,000. This article was most recently revised and updated by Encyclopaedia Britannica. S.S. Kresge was an American merchant who established a chain of nearly 1,000 variety and discount stores throughout the United States.
By 1925, when Kresge stepped down as president, there were 307 S.S. Kresge Company stores, and by 1928 that number had grown to 451. S.S. Kresge stock was one of the best investments of the so-called “Roaring 1920s,” with prices before the 1929 stock crash approaching $900 a share.
Mar 23, 2024 · Kmart, American retail chain with a history of marketing general merchandise primarily through discount and variety stores. It is a subsidiary of Sears Holdings Corporation. The company was founded by Sebastian S. Kresge, a traveling hardware salesman, and John G. McCrory, owner of eight general.
Jul 3, 1985 · The foundation, set up by his father, Sebastian Spering Kresge in 1924, is one of the 10 largest in the country, with listed assets of $814 million as of last year. Starting with a single store in ...
In 1912, Kresge incorporated the S.S. Kresge Company in Delaware with 85 stores. In 1916, Kresge incorporated a new S.S. Kresge Company in Michigan and took over the operations of the original company; the new company in Michigan is the modern day Kmart company. The company was first listed on the New York Stock Exchange on May 23, 1918. During ...
Sep 27, 2015 · 1915 – S.S. builds the Kresge Building in Detroit and a home on Boston Boulevard for his first wife and five children. 1924 – With an initial donation of $1.3 million, S.S. creates the Kresge ...
