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Norman Asbjornson

Norman Asbjornson

N. Asbjornson
1.27% | + $15.94M
$1.27 B ₹ 11,595 Cr
Real Time Net Worth #2795 Ranking as of 21 Feb 2026 By Forbes

More on Norman Asbjornson

Gender

Male

Age

90Y

Country

United States

Born On

December, 1935

Deceased

No

Relationship Status

Married

Children

2

Education

Montana State University – BS In Mechanical Engineering

Designation Info :

Self-Made

Yes

Entrepreneur Type

Self-Made (Manufacturing)

Primary Organization

AAON

Titles

Founder & Chairman

Sources of Wealth

AAON

Industry

Manufacturing

About Norman Asbjornson


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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Quick Reads


  • Founder of HVAC manufacturer AAON.
  • Grew up on a farm in North Dakota during the Great Depression.
  • Bought the company he now runs from a previous employer in 1988.
  • Took AAON public just one year after founding it.
  • A major benefactor to Montana State University's College of Engineering.

Early Life and Background


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.

  • Aaon, Inc. (Founder & Executive Chairman): The core publicly traded asset, a major manufacturer of customized commercial and industrial HVAC systems (known for its focus on energy efficiency).
  • Industrial Focus: His success is built on scale manufacturing and supplying essential climate control components for commercial properties.
  • Investment Strategy: His philosophy is rooted in long-term investment in R&D and leveraging the massive U.S. construction and energy efficiency boom.
  • Academic Background: He holds a B.S. in Mechanical Engineering.

Career Journey of Norman Asbjornson


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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Norman Asbjornson's Timeline


1955:

Graduates with a B.S. in Mechanical Engineering from the University of Nebraska-Lincoln (Academic Achievement).

1988:

Founds Aaon, Inc. (Founding).

1990s:

Aaon executes its successful IPO on the NASDAQ (Financial Milestone).

2018 (January):

Steps down as CEO, remaining Executive Chairman (Executive Transition).

Ongoing:

Continues as Founder and Executive Chairman, guiding the massive industrial giant (Executive Oversight).

Major Business Ventures and Investments


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.

  • Aaon, Inc. (Founder & Executive Chairman): The core publicly traded asset, a major manufacturer of customized commercial and industrial HVAC systems (known for its focus on energy efficiency).
  • Industrial Focus: His success is built on scale manufacturing and supplying essential climate control components for commercial properties.
  • Academic Background: He holds a B.S. in Mechanical Engineering.
  • Investment Strategy: His philosophy is rooted in long-term investment in R&D and leveraging the massive U.S. construction and energy efficiency boom.

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Philanthropy and Social Impact


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.

Fashion, Style, and Lifestyle


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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Quotes and Philosophy


No publicly available quotes.

Fun Facts & Trivia


  • He is the Founder and Executive Chairman of Aaon, Inc. (commercial HVAC systems).
  • He holds a B.S. in Mechanical Engineering.
  • His company specializes in highly energy-efficient, customized HVAC units.
  • He founded the company after acquiring a division from Modine Manufacturing.
  • His fortune is tied to the successful monetization of energy efficiency in commercial real estate.
  • He is known for maintaining a private profile despite his vast corporate interests.
  • His philosophy emphasizes technological excellence and long-term R&D.

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Sources & References


This profile is compiled from verified biographical and financial records:

  • Wealth Data: Real-time tracking and historical data from Forbes Billionaires and the Bloomberg Billionaires Index.
  • Biographical Records: Educational and career history sourced from Reuters, The Wall Street Journal, and official university alumni directories.
  • Regulatory Filings: Shareholder and executive disclosures from stock exchange databases, including HKEX, SSE, SZSE, and SEC EDGAR.
  • Corporate History: Primary data from annual company reports, founding charters, and verified press announcements.

All information is cross-referenced with public sources for accuracy; some narrative sections are AI-assisted summaries.

If you find any inaccuracies, please report them to admin@redcarpetlife.in

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