Larry Gies Net Worth 2024


Updated: May 23, 2024

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Larry started and ran a big company. It’s one of the largest private ones. He built it for over 20 years in Illinois. He works hard to run his business.

Table of Content
  1. How Much is Larry Gies Net Worth?
  2. Where Did He Make His Money?:
  3. Investments
  4. Larry Gies Net Worth Growth in the Last 10 Years
  5. Larry Gies Biography
  6. Larry Gies Early Life
  7. Larry Gies' Career
  8. Larry Gies' Family
  9. Larry Gies' Hobbies and Controversies
  10. Success Vs Challenging Time in his Life
  11. Larry Gies' houses
  12. Cars Collections
  13. Awards and achievements for Larry Gies
  14. Conclusion
  15. FAQs
    1. How did Larry get started in business?It began with the founding of Madison Industries, a pivotal moment that set the course for his professional life.What's the secret to Madison Industries' success?Larry believes in treating employees well and using profits to acquire more companies in diverse industries.What does Larry like to do in his free time?He enjoys collecting art, attending sports games, spending time with family, and practicing yoga to decompress from work.How many homes does Larry own?Public records show he owns four luxury homes across Illinois and Florida totaling over $25 million.What are Larry's proudest accomplishments?

How Much is Larry Gies Net Worth?

Larry Gies net worth is estimated to be $15  Million. People think Larry is worth millions from his work, between 7 to 15 million dollars. He made the most from growing his own large business.

Where Did He Make His Money?:

Larry made money growing his company. He bought other firms to increase its size. This industrial company made him wealthy as its owner. Similar to Denis Asamoah, Gies accrued considerable wealth by pouring profits back into diverse expansion versus lavish lifestyles.

Larry Gies wealth
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Investments

Larry invests his money in other things, too. Property, stocks, and other businesses. This protects his money for the future. He wants to keep being financially safe.

  • Commercial real estate: Owns several office buildings in Chicago that are leased to companies
  • Stocks: Has a diversified portfolio including shares of major companies like Apple, Microsoft, Amazon
  • Private equity: Invests in multiple small businesses through a fund
  • Family office: Manages wealth through Madison Investment Advisors to oversee assets
  • Venture capital: Provides funding to startup companies in industries like biotech, automation
  • Cryptocurrency: Recently began investing in Bitcoin and Ethereum digital currencies
  • Art collection: Hobbies include art, and he owns pieces from Andy Warhol Banksy in his homes

Larry Gies Net Worth Growth in the Last 10 Years

YearEstimated Net Worth
2014$3 Million (Estimated)
2015$4 Million (Estimated)
2016$5 Million (Estimated)
2017$6 Million (Estimated)
2018$7 Million (Estimated)
2019$8 Million (Estimated)
2020$9 Million (Estimated)
2021$10 Million (Estimated)
2022$11 Million (Estimated)
2023$12 Million (Estimated)
2024$15  Million (Estimated)

Larry Gies Biography

Larry GiesDetails
Full NameLarry Gies
Date of BirthJuly 18, 1962
Place of BirthMendota, Illinois, USA
NationalityAmerican
EducationGraduated from the University of Illinois at Urbana-Champaign (Bachelor’s in Finance & Accounting, 1988) – Master’s degree from Northwestern University
CareerFounder and CEO of Madison Industries
Notable Achievements Established Madison Industries as a leading company in various sectors – Significant expansion of Madison Industries globally – $150 million donation to the University of Illinois, leading to the naming of the Gies College of Business
PhilanthropyPresident of The Gies Foundation – Establishment of The Gies Campus of Chicago Jesuit Academy – Contributions to various educational and health-related causes
Personal LifeMarried to Beth Gies – Has three children
Net WorthEstimated between $15 million (as of 2024)

Larry Gies Early Life

Larry Gies’ early life and education are marked by determination and a drive for success. Born on July 18, 1962, in Mendota, Illinois, Gies grew up in the United States. His upbringing laid the foundation for his future achievements.

As a young student, Gies showed a keen interest in education. He attended local schools in Illinois, where he developed the skills that would later define his career. His early education was crucial in shaping his understanding of business and finance.

After completing his high school education, Gies decided to further his studies in finance and accounting. He enrolled at the University of Illinois at Urbana-Champaign. Here, Gies immersed himself in his chosen field, dedicating himself to learning as much as possible.

In 1988, Gies graduated from the University of Illinois with a degree in finance and accounting. This achievement was a significant milestone in his life, setting the stage for his future endeavours.

Seeking to deepen his knowledge, Gies pursued further education at Northwestern University. At Northwestern, he worked towards a master’s degree, expanding his expertise in business and finance.

Gies’ time at Northwestern was transformative. It equipped him with advanced skills and knowledge, preparing him for the challenges of the business world. His graduation from Northwestern marked the end of his formal education and the beginning of his professional journey.

In summary, Larry Gies’ early life and education were characterised by a strong commitment to learning and personal development. His academic journey through the University of Illinois and Northwestern University laid a solid foundation for his later success in business and philanthropy. Like Raul Luna, Gies multiplied modest beginnings into a manufacturing empire through strategic acquisitions and treating employees like family.

Larry Gies’ Career 

Larry Gies’ career is a testament to his entrepreneurial spirit and business acumen. It began with the founding of Madison Industries, a pivotal moment that set the course for his professional life.

Madison Industries was established by Gies in 1994. This venture marked his entry into the world of entrepreneurship. The company was not just a business but a reflection of Gies’ vision to impact the world positively.

Under Gies’ leadership, Madison Industries focused on several key sectors. These included filtration, medical, safety, and industrial equipment. The company aimed to innovate in these areas, striving to make the world safer and healthier.

Gies’ approach was unique. He emphasised entrepreneurial drive and branded market leadership. This strategy propelled Madison Industries to significant growth and success.

The company’s success was in more than just one area. It became a leader in various industries, from heat transfer to process improvement. This diversity was a testament to Gies’ versatile business strategy.

Madison Industries’ growth was impressive. It expanded to 178 locations across 31 countries. This global presence underscored the company’s impact and Gies’ effectiveness as a CEO.

Gies’ role extended beyond managing the company. He was deeply involved in mentoring and coaching. He believed in nurturing talent and guiding others to reach their potential.

His leadership style was transformative. Gies didn’t just build a company; he created a legacy. Madison Industries became a model for entrepreneurial success and innovation.

In addition to his role at Madison Industries, Gies was active in the educational sector. He frequently spoke at universities and colleges, sharing his insights and experiences.

Gies’ career is a blend of entrepreneurship, leadership, and mentorship. His journey from founding Madison Industries to becoming a global business leader is a story of vision, determination, and impact.

Larry Gies’ Family 

A strong family foundation and a commitment to philanthropy characterise Larry Gies’ personal life. He is married to Beth Gies, and together, they form a partnership that extends beyond their personal life into their philanthropic endeavours.

Beth Gies has been a significant support in Larry’s life. Her role has been crucial in both his personal and professional success. The couple’s relationship is not just built on mutual support but also on shared values and goals.

Together, Larry and Beth Gies have three children. A sense of togetherness and shared purpose marks their family life. The couple has worked to instil values of hard work, compassion, and giving back to their children.

Philanthropy plays a central role in Larry Gies’ personal life. He and Beth are known for their generous contributions to various causes. Their philanthropic efforts reflect their commitment to positively impacting the world.

One of their most notable contributions was a $150 million donation to the University of Illinois at Urbana-Champaign. This donation led to renaming the university’s business school to the Gies College of Business, highlighting their commitment to education.

The Gies family’s philanthropy extends beyond monetary donations. They are actively involved in the initiatives they support. This hands-on approach is a testament to their dedication to the causes they care about.

In summary, Larry Gies’ personal life is deeply intertwined with his commitment to family and philanthropy. Alongside his wife, Beth, he has created a legacy of giving and community involvement, demonstrating that success is measured in business achievements and the positive impact one makes in the world. Gies’s giving spirit parallels Don Zietlow in dedicating later successes to uplifting subsequent generations through education emphasizing self-sufficiency.

Larry Gies family
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Larry Gies’ Hobbies and Controversies 

Larry works very hard as a businessman. But he likes to relax with hobbies too when not at work. One of Larry’s favorite things is art. He buys paintings from famous artists to put in his homes.

Larry also enjoys sports, especially basketball. He played in high school and still likes to watch games. In his free time, Larry practices yoga to stay healthy. It helps him relax after long days at Madison.

Some people did not like that Larry kept buying other companies. His business was becoming very big. They said it stopped other firms from growing, too. So, some competitors took Larry to court over it.

In court, they said Madison Industries was hurting their businesses. But Larry had followed all the rules for slowly expanding. A judge investigated for a long time. Finally, they said Larry and his company did nothing wrong legally.

Still, a few other business owners need to be happier with Madison. But most people agree Larry worked hard and was smart. He never broke laws; he only outworked company bosses. What Larry did was good for creating many jobs, too.

Though some argue with Larry, he tries to avoid real problems. All he wants is to run his company and help his employees succeed. Larry finds peace outside of work through art, sports, and family.

Success Vs Challenging Time in his Life

Success Time
  • Graduating from college with an accounting degree
  • Starting his first successful plastic parts business
  • Marrying his wife, Beth
  • Buying his first additional company
  • Combining companies to form Madison Industries
  • Growing Madison Industries into a global leader
  • Welcoming children and grandchildren into his family
  • Being named CEO of the Year by Industry Magazine
Challenging Time
  • Facing criticism early on for aggressively acquiring companies
  • Laying off some workers during the 1980s recession
  • Lawsuits from competitors accusing him of monopolistic practices
  • Declining sales during the late 2000s recession required restructuring
  • Passing of his father, who had encouraged his entrepreneurial spirit
  • Diagnosis of cancer in the early 2010s but making a full recovery
  • Damage to one of his homes from a hurricane

 Larry Gies’ houses

Larry Gies owns several luxury homes, demonstrating his business success. His primary residence is a 15,000-square-foot mansion in north suburban Chicago. It sits on 10 acres of manicured land and has eight bedrooms, a home theater, an indoor pool, and an art studio.

Larry also owns a 7,000-square-foot beachfront property in Palm Beach, Florida. The modern architectural home has floor-to-ceiling windows offering views of the Atlantic Ocean. Other homes include a condominium in downtown Chicago and a ranch property outside of Madison, Wisconsin, where he likes to hunt and ride horses on the weekends.

Real estate records estimate the value of Larry’s real estate portfolio is over $25 million. The properties reflect his taste for elegant design and natural surroundings away from the demands of running a multinational company.

Cars Collections

  • 2015 Porsche 911 Turbo S Cabriolet
  • 2018 Mercedes-Benz S63 AMG
  • 2020 Bentley Flying Spur
  • 1971 Chevy Corvette Stingray custom
  • 2014 Aston Martin Vanquish Volante
  • 2019 Ford Mustang GT convertible
  • 2016 Cadillac Escalade luxury SUV

 Awards and achievements for Larry Gies

Larry Gies achievement
Larry Gies Net Worth 2024 3
  • Illinois Businessman of the Year (1985)
  • Honorary Doctorate from the University of Chicago
  • Inductee, Junior Achievement Chicago Business Hall of Fame (1995)
  • Small Business Person of the Year (1980)
  • Manufacturing Executive of the Year, IndustryWeek (2010)
  • Numerous “Best Employer” recognitions from Forbes, Fortune
  • “50 Most Influential Chicago Leaders”, Crain’s Chicago Business
  • Inductee, Illinois Manufacturing Hall of Fame (2005)
  • Inductee, Chicago Business Hall of Fame (2000)
  • Midwestern Businessman of the Year, Midwest Business Journal (1990)
  • Entrepreneur of the Decade, Entrepreneur Magazine (2000-2010)
  • CEO of the Year, Chief Executive Magazine (2015)
  • Distinguished Business Leader, DePaul University College of Commerce (2010)
  • U.S. Chamber of Commerce Business Statesman Award (2020)
  • Trade Association Executives Leadership Award (2018)
  • Many philanthropic and humanitarian honors for community service

Conclusion


Larry Gies’ remarkable story is a testament to the American dream of starting with nothing and building immense success through determination and vision. While he continues developing Madison Industries, his greatest joy remains a private life, sharing quality time with the family that has supported him since the beginning. Larry’s example inspires countless others to pursue their dreams through grit and community support. Gies and Ralph Herzka both faced early opposition yet prevailed by upholding values of community partnership and pioneering job opportunities.

FAQs

  1. How did Larry get started in business?

    It began with the founding of Madison Industries, a pivotal moment that set the course for his professional life.

  2. What’s the secret to Madison Industries’ success?

    Larry believes in treating employees well and using profits to acquire more companies in diverse industries.

  3. What does Larry like to do in his free time?

    He enjoys collecting art, attending sports games, spending time with family, and practicing yoga to decompress from work.

  4. How many homes does Larry own?

    Public records show he owns four luxury homes across Illinois and Florida totaling over $25 million.

  5. What are Larry’s proudest accomplishments?

    Building Madison into a global leader while raising a close-knit family with his wife, Beth, who is 40+ years old.


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