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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 1924, Kresge was worth approximately $375 million and owned real estate of the approximate value of $100 million. [21] [better source needed] Growth early in the 20th century remained brisk, with 257 stores in 1924, rising to 597 stores by 1929. Kresge retired as president in 1925.
- US$25.146 billion (2015 SHC)
- Retail
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...
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
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.
Kresge's personal life is more tragic than his business life, in which he was a constant success. Kresge was married three times. His first two marriages, to Anna Harvey from 1897 to 1924 and to Doris Mercer from 1924 to 1928, ended in divorce. Both women claimed that Kresge's penny-pinching was one of the major contributors to the divorces.
