What is Lorry Lokey's Net Worth?
Lorry Lokey is an American businessman and philanthropist who has a net worth of $300 million. Lorry Lokey was born in Portland, Oregon in March 1927. Lokey joined the United States Army and fought in World War II. He later graduated from Stanford University with a degree in journalism. He was editor of the school newspaper The Stanford Daily and started working for United Press after graduating. Lokey also worked for the Longview Daily News in Washington. In 1961 he started the news release service Business Wire. On the first day of business the company already had seven clients and went on to become an international wire service with 30 locations around the world. In 2003 the company had an annual revenue of $110 million.
Lokey sold Business Wire in 2006 for a reported $600 million to Warren Buffett's corporation Berkshire Hathaway. Lokey has been making big donations since 1990 and had donated over $400 million by 2007. The majority of his donations have gone to secondary and post-secondary education. Lokey has donated just under $140 million to the University of Oregon as of Jun 2014. The Lorry I. Lokey Science Advancement and Graduate Education Initiative at the University of Oregon is named for him. The Stanford School of Medicine also named the Lorry I. Lokey Stem Cell Research Building after him for his $75 million donation.
