Ep 5. Henry Kravis

Henry Kravis is the fifth episode of season one of Bloomberg Game Changers, a documentary series highlighting the ambitious and powerful individuals who have made impactful changes in their respective industries. This episode focuses on the life and career of Henry Kravis, one of the most prominent and influential financiers of the 20th century.

The episode begins by introducing Kravis and his journey towards becoming a successful businessman. Kravis grew up in a wealthy family and graduated from Claremont McKenna College and later the Columbia Business School. After his education, he worked for Bear Stearns, where he met his business partner, George Roberts. Kravis and Roberts shared a common goal of creating their own private equity firm.

In 1976, Kravis, Roberts, and Jerome Kohlberg founded Kohlberg Kravis Roberts (KKR), which became one of the most successful private equity firms in history. The episode highlights KKR's early investments, including the acquisition of Orkin Exterminating Company, which saw KKR transform the business into a national pest control leader and eventually sell it for a significant profit.

The episode also explores KKR's groundbreaking leveraged buyout of RJR Nabisco in 1988. The acquisition was the largest leveraged buyout in history, valued at $25 billion, and became a cultural phenomenon, documented by the book Barbarians at the Gate. The episode provides insight into the inner workings of the acquisition and the challenges Kravis, Roberts, and KKR faced in securing the deal.

Throughout the episode, interviews with Kravis, colleagues, and industry experts provide an in-depth look into Kravis's leadership style and business philosophy. Kravis emphasizes the importance of having a strong team and cultivating a culture of collaboration and mutual respect. He also shares his belief in taking calculated risks and being willing to fail, stating that "failure is a great teacher."

Additionally, the episode delves into Kravis's philanthropic efforts. Kravis and his wife, Marie-Josée Kravis, are major contributors to a variety of causes, including education, arts, and medical research. The episode highlights their work with organizations such as the New York City Ballet and the Memorial Sloan Kettering Cancer Center.

Overall, the Henry Kravis episode of Bloomberg Game Changers provides a comprehensive look into the life and career of an influential figure in the finance industry. Kravis's leadership and innovation have left a lasting impact on the private equity world, and his philanthropic efforts serve as a reminder of the importance of giving back.