Herb Kelleher Net Worth

Net Worth	$2.9 Billion
Birthdate	Mar 12, 1931 – Jan 3, 2019
Profession	Lawyer & Businessperson
Nationality	United States of America

What was Herb Kelleher Net Worth?

Herb Kelleher was a legendary billionaire in the airline industry; at his death in January 2019, he had been a business tycoon and a barrister with a net worth of $2.9 billion. As co-founder and Chairman Emeritus of Southwest Airlines, Kelleher leaves an indelible mark on the aviation industry. During his glorious reign for two decades, Southwest Airlines soared to dizzying heights with an unrelenting strategic focus on low fares and direct routes, among other first-of-its-kind initiatives.

Kelleher’s visionary leadership earned him numerous accolades, including the prestigious Tony Jannus Award and the L. Lifetime Achievement in Aviation Welch Pogue Award. Under his leadership, Southwest Airlines always got the honor to be admired and became one of the top five Most Admired Corporations of America. In addition, its stock price had risen over 4,000% from its IPO in 1982 until Kelleher’s death.

Early Life and Education

Herb Kelleher, who was a reverent billionaire in the airline industry, a giant in business and law, would boast a net worth of $2.5 billion upon his demise in January 2019. Being one of the co-founders, chairman emeritus, and former CEO of Southwest Airlines, Kelleher has defined and greatly reinvented the face of the aviation industry. Over an illustrious two-decade tour at the helm, Southwest Airlines soared to never-before-experienced heights, powered by a strategic focus visionally set on low fares and direct routes, among many other game-changing initiatives.

Kelleher’s visionary leadership earned him numerous accolades, including the prestigious Tony Jannus Award and the L. Welch Pogue Lifetime Achievement Award in Aviation. Under his leadership, Southwest Airlines has been admired and positioned among five Most Admired Corporations in America. The share price of the airline had also risen by over 4,000% from the year it became publicly traded in 1982 up to his death, an indication of great business leadership.

Career Beginnings in Law

Following graduation from NYU, Kelleher pursued the careers that would take him in the direction to clerk for a Justice of the New Jersey Supreme Court. This would lead to his next move in Texas: starting a law firm of his own. In 1969, he achieved a significant milestone by becoming a partner at Oppenheimer, Rosenberg, Kelleher & Wheatley.

Southwest Airlines Founding

Two visionaries, attorney Herb Kelleher and his client businessman, Rollin King, founded the work of Southwest Airlines. Quite a revolution of its time was their idea to cover the state of Texas Triangle by providing the most affordable air service there. In any event, this is the primary aim with which Air Southwest Co. was set up in 1967. Notwithstanding, their remarkable strategy was to meet some serious judicial obstacles over the following four years. The strategy was strongly contested by competitors, but Southwest pursued it with offers of low costs on flights within the state of Texas.

It had not been until the early 1970s that this land ownership legal battle had finally found its way before both the US Supreme Court and the Texas Supreme Court for resolution. Still, that had not washed away from Kelleher and King’s aspirations regarding this mission, so in 1971, the renamed airline was called Southwest Airlines. After that, Southwest Airlines introduced its first intrastate flights, connecting the cities of Dallas, Houston, and San Antonio, bringing new times for the possibility of air travel within the state of Texas.

Southwest Airlines Success

Southwest expanded its operations in 1975 and flew to a number of other cities of the state. It started flying to neighboring states in 1979. At this critical juncture, Herb Kelleher came to the position of the chairman of the board. His leadership journey saw him ascend to the positions of CEO and President in 1981. Under his leadership, Southwest Airlines has scripted a success story with unique features like low passenger fares, unshared dependence on Boeing 737 aircraft in their fleet, and a point-to-point transit system. Heading into the 1990s, Southwest steamed on into the East of the United States as it further solidified its place within the aviation business. Southwest, with an undisputed focus on client satisfaction, has consistently received awards in that field: being one of the most admired companies in the US in Fortune magazine’s annual standings.

In 2001, Herb Kelleher had to hand off his roles as CEO and President of Southwest Airlines, but he remained in the company as Chairman from where he continued to influence. Subsequently, in 2008, he stepped down from the chairmanship and resigned from the board of directors. However, through all these transitions, the Kelleher legacy was maintained. He was thereafter given the role of the chairman of the firm, with an office at the headquarters of Southwest Airlines up until he passed on in 2019. Today, Southwest Airlines has continued to do well, serving a broad network of over 100 destinations in the United States, Mexico, Central America, and the Caribbean.

Other Positions

He had served as the deputy chairman during his time in the bank. In the year 2011, he was appointed to be the chairman of the board of directors of the Federal Reserve Bank of Dallas. Kelleher’s chairmanship concluded in 2013.

Accolades and Honors

Throughout his professional career, Kelleher received more than 100 awards and commendations for outstanding contributions to business and aviation. Among the most important of these awards were the National Air Transportation Association Award and the Tony Jannus Award, given to leaders showing excellence in commercial aviation. He also received the prestigious Bower Award for his remarkable entrepreneurship and the L. Welch Pogue Award for lifelong commitment to aviation. Kelleher’s superb effect gained him entrance to such formidable institutions like the Texas Business Hall of Fame, the National Aviation Hall of Fame, and the International Air & Space Hall of Fame in San Diego, California.

Personal Life and Death

Kelleher’s walk with Texas had truly started back in college from a blind date with Joan Negley—a fortunate and successful one, as a matter of fact. Their journey through life would land them in the Lone Star State. From this union were born their four children: Julie, Michael, David, and Ruth.

The year 1999 brought with it one of the hardest fights that Kelleher had ever come up against—prostate cancer. The treatment of the disease managed to pass, and life moved on for him with his indomitable spirit, until early 2019, when he peacefully passed on in Dallas, Texas, at 87 years old.

FAQ about Herb Kelleher Net Worth

1. What was Herb Kelleher Net Worth?

• Herb Kelleher Net Worth of $2.9 billion, a renowned figure in the airline industry, had a  at the time of his passing in January 2019.

2. What were Herb Kelleher’s professions?

• Herb Kelleher was both a lawyer and a businessperson. He made significant contributions to both fields throughout his illustrious career.

3. What was Herb Kelleher’s nationality?

• Herb Kelleher was a citizen of the United States of America.

4. When was Herb Kelleher born and when did he pass away?

• Herb Kelleher was born on March 12, 1931, and he passed away on January 3, 2019. He lived to the age of 87.

5. What were some of Herb Kelleher’s notable achievements?

• Herb Kelleher co-founded Southwest Airlines and served as its Chairman Emeritus and former CEO. Under his leadership, Southwest Airlines became known for its innovative approach to air travel, focusing on low fares and direct routes. Kelleher received numerous awards and honors for his contributions to the aviation industry, including the Tony Jannus Award and the L. Welch Pogue Award for Lifetime Achievement in Aviation.

6. What were some key milestones in Herb Kelleher’s career?

• Herb Kelleher’s career began in law, where he worked as an attorney before co-founding Southwest Airlines in 1966. Despite facing legal challenges, Kelleher and his partner Rollin King successfully launched Southwest Airlines, which revolutionized air travel with its affordable fares and strategic route planning. Kelleher served in various leadership roles at Southwest Airlines until his passing in 2019.

7. How did Herb Kelleher impact the aviation industry?

• Herb Kelleher’s visionary leadership transformed Southwest Airlines into one of the most successful and admired airlines in the world. He introduced innovative business strategies that focused on customer satisfaction and operational efficiency, leading to Southwest’s unprecedented growth and profitability.

8. What was Herb Kelleher’s contribution to the Federal Reserve Bank of Dallas?

• Herb Kelleher served as chairman of the board of directors of the Federal Reserve Bank of Dallas from 2011 to 2013. Prior to this role, he held the position of deputy chairman.

9. How did Herb Kelleher’s personal life influence his career?

• Herb Kelleher’s personal life, including his marriage to Joan Negley and their four children, played a significant role in shaping his career and values. His resilience in overcoming challenges, such as his battle with prostate cancer, reflected his determination and strength of character.

10. What is Herb Kelleher’s legacy?

• Herb Kelleher’s legacy is characterized by his entrepreneurial spirit, leadership, and dedication to excellence. He left an indelible mark on the aviation industry, inspiring future generations of business leaders to innovate and strive for success.

Quick Summary

1. Herb Kelleher, titan of both law and business, co-founded Southwest Airlines and was its CEO, leaving the carrier with a brash, innovative style that helped democratize the travel industry in the US. Southwest Airlines, worth $2.9 billion, was taken to those great skies with strategic leadership by Kelleher, which ranks among the top five most admired corporations in the United States. His innovative business model of air travel—low fares and direct routes—brought a new means to the industry and garnered him accolades that included the Tony Jannus Award. From being a young lawyer in his early career to such an important role in making and leading Southwest Airlines, Herb Kelleher’s journey just showcases one thing: it is pure resilience and determination, unfazed by the court battles and health hurdles that by then included a stint with prostate cancer. His influence ranged far beyond the aviation arena, and the evidence extended into his term as chairman of the Federal Reserve Bank of Dallas. The ongoing spirit of leadership of Herb Kelleher stands a living inspiration to innumerable potential entrepreneurs and leaders across the world.