Peter George Peterson was an American businessman, investment banker, philanthropist, and author. He co-founded the private equity firm Blackstone Group and served as the United States Secretary of Commerce from 1972 to 1973.
Early Life
Peter George Peterson was born on June 5, 1926, in Kearney, Nebraska. He was the son of Greek immigrants and worked in his parents' diner during his early years. Peterson attended Northwestern University and later received an MBA from the University of Chicago.
Personal Life
Peterson was married three times and had five children. His third wife, Joan Ganz Cooney, is the co-founder of the Children's Television Workshop, which created Sesame Street. He was known for his philanthropic efforts, particularly through The Peter G. Peterson Foundation.
Professional Life
Peter G. Peterson's professional career included serving as the CEO of Bell & Howell and Lehman Brothers. In 1985, he co-founded the Blackstone Group, which grew to be a leading global private equity firm. He also served as Chairman of the Council on Foreign Relations.
What Are Peter G. Peterson's Notable Achievements?
Peterson's notable achievements include co-founding the Blackstone Group, serving as U.S. Secretary of Commerce, and creating The Peter G. Peterson Foundation, which focuses on addressing America's fiscal challenges.
Did Peter G. Peterson Face Any Scandals?
While Peter G. Peterson's career was largely free of major scandals, his wealth and the operations of the Blackstone Group occasionally attracted criticism concerning the impact of private equity on businesses and employees.
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