Age, Biography and Wiki
Birth Day | October 24, 1954 |
Birth Place | Chattanooga, Tennessee, United States |
Age | 69 YEARS OLD |
Birth Sign | Scorpio |
Alma mater | B.A. University of Denver |
Occupation | Businessman |
Known for | Chairman and CEO of Mohawk Industries |
Spouse(s) | Sarah Lorberbaum |
Children | 2 Lauren Lorberbaum-Donohue Brian Lorberbaum |
Parent(s) | Alan Lorberbaum Shirley Lorberbaum |
Net worth: $1.1 Billion (2024)
Jeffrey Lorberbaum's net worth is estimated to reach $1.1 billion in 2024. He is widely recognized in the United States as a prominent figure in the manufacturing industry. As the CEO and Chairman of Mohawk Industries, one of the world's largest flooring manufacturers, Lorberbaum has played a vital role in the company's success and growth. With his astute leadership, Mohawk Industries has expanded its operations globally and acquired several renowned flooring brands. Jeffrey Lorberbaum's expertise and business acumen have not only propelled his personal wealth but also solidified his reputation as a manufacturing magnate in the United States.
Biography/Timeline
Jeffrey S. Lorberbaum is the son of Shirley and Alan Lorberbaum, Jewish migrants to the South from New York City. In 1957, his parents founded Aladdin Mills, Inc., in Dalton, Georgia. Aladdin initially produced bathmats and rugs for discount Retailers and during the 1970s expanded into tufted carpet Manufacturing, eventually growing the Business into one of the largest carpet manufacturers in the country. He has one sister, Suzanne Helen of Denver, and one brother, Mark Lorberbaum of Miami Beach. He graduated with a B.A. from the University of Denver.
Jeffrey joined the family Business, carpet and rug manufacturer Aladdin Mills, in 1976, after graduating from the University of Denver. Lorberbaum held a number of leadership positions, eventually serving as Vice President of Operations from 1986 to 1994. In 1994, Aladdin merged with Mohawk Industries, which had gone public in 1992, creating one of the largest flooring manufacturers in the United States - and his Father became Mohawk’s largest shareholder. Jeffrey and Alan Lorberbaum then joined Mohawk's Board of Directors. In 1995, Lorberbaum became President of Mohawk; and, in 2001, he became CEO. Since then he has grown the company to $5.8 billion in revenues (2012) partly through acquisitions that expanded the scope of the company into hard surface flooring (ceramic tile, laminate, hard wood) and provided access to new geographies. In 2002, Lorberbaum orchestrated the $1.8 billion purchase of Dal-Tile of Dallas making Mohawk the world’s largest tile-maker. In 2005, Mohawk purchased Unilin, a Belgium-based maker of laminate flooring and MDF board (a composite used in do-it-yourself furniture) for $2.6 billion.
As of August 2016, Lorberbaum holds 9.6 million shares of Mohawk amounting to 14 percent of the company which is valued at $2.14 billion.