Gordon Gund

Early Life

Gordon Gund was born on April 15, 1937 in Cleveland, Ohio. He is the son of George Gund III, a former chairman of the Cleveland Trust Company, and his wife, Elizabeth. He attended the University of Pennsylvania, where he earned a bachelor's degree in economics in 1959.

Career

Gund began his career in the financial services industry in 1959, when he joined the investment banking firm of Lehman Brothers. He worked there for five years before joining the venture capital firm of American Research and Development Corporation (ARDC) in 1964. At ARDC, he was instrumental in the development of the venture capital industry. He was also involved in the financing of several high-profile companies, including Digital Equipment Corporation and Genentech.

In 1979, Gund left ARDC to become the chairman and CEO of the Cleveland Cavaliers. He was the first owner of the team to bring in a professional management team and to invest in the team's future. Under his leadership, the Cavaliers made the playoffs for the first time in franchise history in 1984.

In 1988, Gund sold his stake in the Cavaliers and founded Gund Investment Corporation. He has since become a major investor in a variety of companies, including the San Jose Sharks, the Boston Celtics, and the San Francisco 49ers. He is also a major investor in the biotechnology industry, having invested in companies such as Genentech, Gilead Sciences, and Amgen.

Philanthropy

Gund is a major philanthropist, having donated millions of dollars to a variety of causes. He is a major supporter of the National Basketball Association's Basketball Without Borders program, which provides basketball instruction and education to children in developing countries. He is also a major supporter of the National Multiple Sclerosis Society, having donated millions of dollars to the organization.

In addition, Gund has donated millions of dollars to the University of Pennsylvania, his alma mater. He has also donated to the Cleveland Clinic, the Cleveland Museum of Art, and the Cleveland Orchestra.

Conclusion

Gordon Gund is a successful businessman and philanthropist who has had a major impact on the financial services industry, the venture capital industry, and the National Basketball Association. He has also made significant contributions to a variety of charitable causes, including the National Multiple Sclerosis Society and the Basketball Without Borders program. His philanthropic efforts have had a lasting impact on the communities in which he has invested.