N orman Asbjornson is an American entrepreneur and the founder of AAON, a leading manufacturer of commercial and industrial heating, ventilation, and air conditioning (HVAC) systems. Raised on a farm in rural North Dakota during the Great Depression, Asbjornson learned the values of hard work and ingenuity from a young age. He served in the U.S. Air Force and later earned a mechanical engineering degree from Kansas State University. He began his career in the HVAC industry, eventually becoming president of the John Zink Company's air conditioning division.
In 1988, the division was put up for sale by its parent company. Seeing an opportunity, the then-52-year-old Asbjornson bought the division for $21 million, renaming it AAON (pronounced 'A-On'). He focused the company on producing semi-custom rooftop HVAC units, a niche that larger competitors often overlooked. His engineering background allowed him to drive innovation, creating more energy-efficient and reliable products. He took AAON public in 1989. Under his leadership as CEO for over three decades, the Tulsa, Oklahoma-based company grew into a major industry player with a market capitalization in the billions. He is also a significant philanthropist, having made large donations to his alma mater, Montana State University, where the Norm Asbjornson College of Engineering is named in his honor.
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Norman J. Asbjornson is an American businessman, the self-made billionaire Founder, Executive Chairman, and former CEO of Aaon, Inc. (NASDAQ: AAON), a major manufacturer of HVAC (Heating, Ventilation, and Air Conditioning) systems for commercial and industrial buildings. His career is rooted in mechanical engineering and industrial manufacturing.
Asbjornson holds a B.S. in Mechanical Engineering from the University of Nebraska-Lincoln (1955). His entrepreneurial journey began with a focus on customized HVAC systems in the 1980s, recognizing the immense, untapped domestic demand for highly efficient, specialized commercial air conditioning. His philosophy centers on technological excellence, energy efficiency, and long-term asset hold in the essential construction and building systems sector.
Norman Asbjornson's strategic genius was his commitment to energy efficiency and technological quality. He founded Aaon in 1988 (acquiring the Modine Manufacturing commercial products division). Under his guidance as Chairman and CEO, the company expanded aggressively, successfully executing its IPO on the NASDAQ and establishing itself as a major force in the commercial HVAC market.
His structural contribution is immense: pioneering the industrial scale and quality of specialized HVAC systems, contributing significantly to building energy efficiency globally. He stepped down as CEO in 2018, remaining Executive Chairman. His wealth is secured by the colossal, long-term, stable profitability of the essential industrial manufacturing and construction sectors.
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Graduates with a B.S. in Mechanical Engineering from the University of Nebraska-Lincoln (Academic Achievement).
Founds Aaon, Inc. (Founding).
Aaon executes its successful IPO on the NASDAQ (Financial Milestone).
Steps down as CEO, remaining Executive Chairman (Executive Transition).
Continues as Founder and Executive Chairman, guiding the massive industrial giant (Executive Oversight).
Norman Asbjornson's wealth is concentrated in his founding equity and continued executive leadership of the publicly traded industrial giant, Aaon, Inc. (NASDAQ: AAON), and his private investments.
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Norman Asbjornson's social impact is structural, stemming from Aaon's role in providing essential climate control and energy-efficient HVAC systems for commercial and industrial buildings globally. His companies contribute significantly to national energy conservation and job creation. His personal philanthropy supports various community and educational initiatives (including funding the University of Nebraska-Lincoln Engineering College).
His structural contribution is tied to the successful industrialization and technological modernization of the commercial HVAC sector.
Norman Asbjornson maintains the professional, pragmatic style of an industrial executive. His attire is consistently formal and high-quality, favoring tailored business suits. His aesthetic reflects serious authority and stability, typical of a leader in the high-capital industrial sector.
Residing in Tulsa, Oklahoma, his luxury is the immense security and financial reward derived from his multi-billion dollar fortune. His life is dedicated to industrial scale, technological innovation, and the long-term, stable growth of the HVAC supply chain.
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+13.78% | +$1.09B
-5.37% | -$517.31M
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