Steven F. Udvar-Házy

Steven Udvar-Házy
Born István Ferencz Udvar-Házy
1946
Budapest, Hungary
Nationality American
Alma mater University of California, Los Angeles (BA)
Occupation CEO of Air Lease Corporation
Salary US$1,622,727 (2010)[1]
Total: US$57,768,057 (2010)[1]
Net worth Increase US$3.7billion (February 2015)[2]
Spouse(s) Christine Hazy
Children 4[2]

Steven Ferencz Udvar-Házy ([ˈudvɒrhaːzi]; born 1946), also known as István or Steve Hazy, is a Hungarian American businessman, who is the CEO of Air Lease Corporation. He is the former chairman and CEO of International Lease Finance Corporation (ILFC), one of the two largest aircraft lessors in the world (the other being GE Capital Aviation Services).[3] In 2011, Forbes ranked him as the world's 409th richest person, with a net worth of US$3.2 billion.[4]

Early life

The Udvar-Házy family came to the US in 1958, fleeing the Soviet occupation of Hungary. Hazy attended University High School in Los Angeles[5] and the University of California, Los Angeles.[6]

Career

Udvar-Házy was in his 20s during the later part of transition from propeller aircraft to jets during the mid to late 1960s, and realized that the higher capital investment required to purchase jet aircraft created an opportunity for a leasing business. He founded ILFC with two partners in 1973, leasing a single used Douglas DC-8 to Aeroméxico. He left ILFC in February 2010 to found Air Lease Corporation.[6]

Philanthropy

Udvar-Házy gave a US$66 million grant to the Smithsonian Institution that allowed the U.S. National Air and Space Museum to build the Steven F. Udvar-Hazy Center annex at Washington Dulles International Airport.[7] The annex houses more than 120 aircraft and 140 space-exploration exhibits as of 2006, and also includes the Space Shuttle Discovery. Plans call for eventually installing over 300 aircraft.[8]

The Udvar-Házy family contributed funds to build the Christine and Steven F. Udvar-Hazy Library and Learning Center at Embry–Riddle Aeronautical University's Prescott Campus. The new library provides students with updated facilities and a great view of the surrounding campus. This donation is the largest to date made to the university.[9] The business building at Dixie State University is named after his parents.

See also

References

  1. 1 2 "Arnaud Lagardère: Executive Profile & Biography - Businessweek".
  2. 1 2 "Steven Udvar-Hazy". Forbes.
  3. ↑ "From the Chairman & CEO". Wayback. Retrieved 2006-09-26.
  4. ↑ "Steven Udvar-Hazy". Forbes-World's Billionaires. forbes.com. 9 March 2011. Retrieved 2011-04-27.
  5. ↑ Uni Hi Warriors & Wildcats Report for June 1, 2015
  6. 1 2 Leslie Wayne (10 May 2007). "The Real Owner of All Those Planes". The New York Times. NYTimes.com. Retrieved 2007-05-10.
  7. ↑ Lawrence M. Small. "A century's roar and buzz: Thanks to an immigrant's generosity, the Steven F. Udvar-Hazy Center opens to the public". Smithsonian. 34. smithsonianmag.com. p. 20.
  8. ↑ "New Smithsonian Museum Facility to be Named After Donor" (Press release). Smithsonian National Air and Space Museum. 28 March 2000. Retrieved 2011-05-04.
  9. ↑ "Aviation Entrepreneur Steven Udvar-Hazy Speaks at Embry-Riddle Commencement and Dedicates New Library" (Press release). Embry Riddle Aeronautical University. 3 May 2008. Archived from the original on 2008-05-01. Retrieved 2008-05-14.
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