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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.
Nov 30, 1997 · Anna reaped $410 million in the settlement. Kresge would marry twice again. Kresge was an innovative employer, too. He was among the first to offer his employees sick pay, paid vacation, Christmas bonuses, profit sharing, and merit promotions—all smart investments, in his view.
- Mike Henning
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Jul 3, 1985 · Stanley Sebastian Kresge, who with his wife, Dorothy, channeled about $500 million to charitable, civic, religious, social, educational, medical and cultural beneficiaries, died...
Before Fame. He worked as a traveling salesman and hardware store clerk. Trivia. His net worth would have been around $5 billion in 2012 dollars. Family Life. He had five children with his first wife, later divorcing her and remarrying. Associated With. He and Susan B. Anthony were both staunch supporters of the temperance movement.
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- July 31, 1867
- Wilkes-Barre, Pennsylvania
Dec 4, 2014 · Sebastian Spering Kresge, who was worth $200 million at the time, was famous for thrift, once saying, “I’ve never spent more than 30 cents a day for lunch in my life, and it hasn’t killed me.” Born near Scranton, Pa. in 1867, Kresge started out selling tinware throughout the Northeast. He said tough times taught him “what a bedrock business is.”
Dec 29, 2022 · In 1912, he incorporated the company as the S.S. Kresge Company with 85 stores worth over $10 million. ... My wife worked for K-Mart for over 30+ years in Allentown,Pa.
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.
