Sidney Kimmel: The Billionaire Businessman, Philanthropist, and Film Producer
Sidney Kimmel is an American businessman, film producer, and philanthropist who has made a significant impact in fashion, entertainment, and cancer research. Best known as the founder of Jones Apparel Group, Kimmel built a fashion empire that led to his billionaire status. His contributions to medical research, particularly in the fight against cancer, have changed lives across the world. Additionally, through Sidney Kimmel Entertainment (SKE), he has played a crucial role in Hollywood, producing critically acclaimed films such as Hell or High Water and The Kite Runner.
This article explores Kimmel’s life, from his early days in Philadelphia to his rise as a major player in business and philanthropy.
Early Life and Education
Sidney Kimmel was born on January 16, 1928, in Philadelphia, Pennsylvania, into a working-class Jewish family. His father worked as a cab driver, and his upbringing was humble. Kimmel showed an early interest in business but did not have a straightforward path to success.
He attended Temple University but did not complete his degree. Instead, he entered the workforce and gained experience in the apparel industry.
Kimmel’s lack of a formal degree did not hinder his ambitions. He learned about the business world through hands-on experience, working his way up in the clothing industry. His resilience and entrepreneurial mindset led to the founding of Jones Apparel Group, which would later make him a billionaire.
The Rise of Jones Apparel Group
In 1970, Kimmel founded Jones Apparel Group, a company that would become a dominant force in the apparel industry. He had identified a need for affordable, stylish, and high-quality clothing, particularly for women.
The company focused on designing and marketing apparel, footwear, and accessories. Over the years, Kimmel’s leadership helped Jones Apparel Group acquire several well-known fashion brands, including:
- Jones New York
- Nine West
- Anne Klein
- Stuart Weitzman
- Gloria Vanderbilt
- Barneys New York
Kimmel’s ability to identify emerging trends and acquire successful brands contributed to the company’s rapid expansion. Jones Apparel Group became a billion-dollar enterprise and one of the most influential names in the fashion industry.
By 2002, Kimmel stepped down as CEO but remained chairman of the company. In 2014, Jones Apparel Group was sold to private equity firm Sycamore Partners for approximately $2.2 billion, solidifying Kimmel’s fortune.
Philanthropy and Cancer Research
Sidney Kimmel is widely recognized for his philanthropy, particularly in the fields of medical research, education, and the arts. Through his Sidney Kimmel Foundation, he has donated over $850 million, with a strong focus on cancer research.
Major Philanthropic Contributions
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Johns Hopkins University
- In 2001, Kimmel made a historic $150 million donation to Johns Hopkins University, leading to the creation of the Sidney Kimmel Comprehensive Cancer Center.
- This was the largest donation ever received by the university at that time.
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Thomas Jefferson University
- In 2014, Kimmel donated $110 million to Thomas Jefferson University in Philadelphia.
- In recognition of his generosity, the university’s medical school was renamed Sidney Kimmel Medical College.
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Memorial Sloan Kettering Cancer Center
- Kimmel has supported Sloan Kettering, one of the world’s leading cancer research institutions.
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Kimmel Center for the Performing Arts
- A $35 million donation helped create the Kimmel Center for the Performing Arts in Philadelphia.
- The center is home to the Philadelphia Orchestra and other performing arts organizations.
Kimmel’s philanthropy extends beyond medicine and the arts. He has also contributed to the National Constitution Center, the National Museum of American Jewish History, and several educational institutions.
Sidney Kimmel in Hollywood: A Passion for Film
Kimmel’s love for storytelling led him to the entertainment industry. In 2004, he founded Sidney Kimmel Entertainment (SKE), a Los Angeles-based film production and finance company.
Notable Films by Sidney Kimmel Entertainment
- United 93 (2006) – A gripping drama about the 9/11 terrorist attacks.
- Lars and the Real Girl (2007) – A unique romantic comedy starring Ryan Gosling.
- The Kite Runner (2007) – Based on the bestselling novel by Khaled Hosseini.
- Adventureland (2009) – A coming-of-age comedy-drama.
- The Lincoln Lawyer (2011) – A legal thriller starring Matthew McConaughey.
- Moneyball (2011) [Co-Financed] – A baseball drama starring Brad Pitt.
- Hell or High Water (2016) – An Oscar-nominated crime thriller starring Chris Pine and Jeff Bridges.
SKE has produced or co-financed over 45 films, many of which have received critical acclaim.
Kimmel’s involvement in Hollywood showcases his deep passion for storytelling and creative expression. His ability to recognize and support unique films has made him a respected figure in the entertainment industry.
Personal Life and Legacy
Sidney Kimmel has been married to Caroline Davis, who was previously married to Leonard Tose, the former owner of the Philadelphia Eagles.
The couple has been known for their lavish real estate purchases. In 2007, they purchased Johnny Carson’s former Malibu estate for $46 million. The property was listed for sale in 2017.
Net Worth and Recognition
- As of 2021, Kimmel was ranked 2,141st on Forbes’ list of the world’s billionaires.
- His estimated net worth is in the billions, primarily from his success in the fashion and entertainment industries.
- He has received numerous awards for his contributions to business, philanthropy, and the arts.
Kimmel’s journey from a working-class background to becoming a billionaire philanthropist is a testament to his vision, determination, and generosity.
Conclusion
Sidney Kimmel is a rare example of a businessman whose influence extends far beyond his own industry. His contributions to fashion, entertainment, and philanthropy have left a lasting impact.
- Through Jones Apparel Group, he revolutionized the fashion world.
- Through Sidney Kimmel Entertainment, he brought powerful stories to the big screen.
- Through his philanthropy, he has helped save countless lives through medical research.
Kimmel’s story serves as an inspiration for entrepreneurs, philanthropists, and creatives alike. His legacy of giving ensures that his influence will be felt for generations to come.
