Who is Norman Braman?
Born in 1932, Norman Braman, the Florida-based billionaire, has made a name for himself as a successful entrepreneur and a significant contributor to the art and philanthropic world. Braman, who founded Braman Motorcars and Philadelphia Pharmaceuticals and Cosmetics, is also known as the owner of the luxury yacht Kisses.
Key Takeaways:
- Norman Braman, a Florida-based billionaire, is the founder of Braman Motorcars and Philadelphia Pharmaceuticals and Cosmetics.
- Braman became a millionaire at 36 and later established the successful Braman Enterprises, now boasting over 20 dealerships and annual sales of US$ 2 billion.
- He is an active philanthropist through his Norman and Irma Braman Family Foundation.
- Braman is an avid art collector, with his collection valued at US$ 900 million.
- He once owned the Philadelphia Eagles, a professional American football team.
Building the Path to Success
Braman’s journey to becoming a millionaire and eventually a billionaire is truly inspiring. Starting his career in the 1950s as an executive at Bargaintown U.S.A., Braman quickly rose through the ranks, eventually acquiring the company and transforming it into Keystone Stores – a chain of self-service variety stores in Philadelphia.
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In the 1960s, he made a strategic move to merge his company with Philadelphia Laboratories, thus creating Philadelphia Pharmaceuticals and Cosmetics. The sale of his shares in 1969 made him a millionaire by the age of 36. A few years later, he ventured into the automotive industry by buying a Cadillac dealership, marking the inception of Braman Enterprises.
The Evolution of Braman Enterprises
Braman Enterprises, the holding company of Braman Motorcars, has seen considerable growth since its start in 1975 with a single Cadillac dealership. Over the years, Braman expanded his portfolio by acquiring a BMW and Rolls-Royce dealership and adding Fiat, Lancia, and Toyota to his dealership lineup. Today, Braman Motorcars boasts more than 20 dealerships and sells over 35,000 cars per year.
Braman’s dealerships include Braman Miami, Rolls Royce Motorcars Palm Beach, and Mercedes of Littleton, spanning across Florida and Colorado. As of 2018, Braman Enterprises reported sales of US$ 2 billion.
Net Worth of Norman Braman
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Thanks to his successful ventures, Braman’s estimated net worth stands impressively at $2.8 billion.
Braman’s Philanthropic Efforts
Apart from his successful business career, Braman is also known for his philanthropic endeavors through his Norman and Irma Braman Family Foundation. The foundation has significantly contributed to medical and educational projects, including the Braman Family Breast Cancer Institute.
Together with his wife Irma, Braman also established the Irma and Norman Braman Art Foundation, which supports the arts and culture in and around the Miami area.
Braman’s Passion for Art
An avid art collector, Braman’s collection was valued at a staggering US$ 900 million in 2011. He has served as the Chairman of Art Basel Miami Beach, while his wife Irma is Chair at the Institute of Contemporary Art in Miami.
His Connection with the Philadelphia Eagles
Another notable point in Braman’s journey is his ownership of the Philadelphia Eagles, a professional American football team. After purchasing the team for US$ 65 million, he later sold it in 1994 for US$ 185 million.
Sources
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https://en.wikipedia.org/wiki/NormanBraman
https://www.forbes.com/profile/normanbraman
https://www.bramanmotorcars.com/about-us/
https://www.digitaldealer.com/interview-with-normanbraman-owner-of-braman-enterprises/
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