Penny Pritzker, a member of the influential Chicago-based Pritzker family, navigated a diverse career spanning private equity, real estate development, and high-level government service. A graduate of Harvard and Stanford, she transitioned from managing multifaceted family assets to serving as the 38th United States Secretary of Commerce during the Obama administration from 2013 to 2017.
Early Career and Business Development
After graduating in 1985, Pritzker joined the family organization at the encouragement of her cousin Nick Pritzker. In 1987, she founded Classic Residence by Hyatt, a venture providing housing for seniors. By 1991, she assumed the role of director for the family's non-hotel landholdings, leading to the creation of the Pritzker Realty Group. This firm managed the development of shopping centers, apartment complexes, and the Baldwin Park neighborhood in Orlando, Florida.
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In 1995, Pritzker was named one of three primary successors to Jay Pritzker, serving as vice-chairman alongside Tom Pritzker and Nick Pritzker to oversee a business empire then valued at $15 billion. Following Jay's death in 1999, litigation from other family members prompted a shift in strategy. The group began liquidating holdings, including the sale of the Marmon Group to Berkshire Hathaway for $4.5 billion in 2008 and the 2011 sale of the airport parking business, The Parking Spot, for $360 million.
Public Service and Recent Roles
Pritzker served as a member of the President’s Council of Advisors on Science and Technology from 2021 to 2022. She later acted as the U.S. Special Representative for Ukraine's Economic Recovery between September 2023 and August 2024. Her academic and board involvements include serving as a fellow of the Harvard Corporation, where she became the first woman elected Senior Fellow in 2022, alongside board positions at Microsoft and the Carnegie Endowment for International Peace.
Fast facts
- Born: 1959, Chicago, Illinois
- Citizenship: United States
- Education: Harvard College, Stanford Law School, Stanford Graduate School of Business
- Positions held: U.S. Secretary of Commerce (2013-2017)
- U.S. Special Representative for Ukraine's Economic Recovery (2023-2024)
- 2024 Award: Order of Princess Olga, 1st class
- Forbes 2009 distinction: One of the 100 most powerful women in the world
- Family ties: Sister of Illinois Governor JB Pritzker
Questions readers ask
What foundations has Penny Pritzker established?
She is the founder of the Pritzker Traubert Family Foundation.
Which major companies has she helped found?
She founded PSP Partners, PSP Capital Partners, and Pritzker Realty Group, and co-founded Artemis Real Estate Partners and Inspired Capital.
Achievements
- Order of Princess Olga, 1st class — 2024
- Educated at Harvard College and Stanford Law School
