S teven Udvar-Házy is a Hungarian-American billionaire who is considered the founding father of the modern aircraft leasing industry. Born in Hungary, his family fled the country during the Soviet occupation, eventually settling in the United States. In 1973, while still a university student, he co-founded the International Lease Finance Corporation (ILFC) with a small amount of capital. Their business model was to buy new aircraft directly from manufacturers like Boeing and Airbus and then lease them to airlines around the world.
This model revolutionized the airline industry, allowing carriers to expand their fleets without the massive upfront capital cost of purchasing planes. ILFC grew to become one of the largest aircraft lessors in the world. In 1990, he sold the company to the insurance giant AIG for over $1 billion, but he remained as its CEO. He left AIG in 2010 to found his second aircraft leasing company, Air Lease Corporation, where he serves as executive chairman. He is also a major philanthropist, particularly to the Smithsonian's National Air and Space Museum, where the main facility is named in his honor.
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Steven Ferencz Udvar-Házy is a Hungarian-American businessman, the self-made billionaire Executive Chairman of Air Lease Corporation (NYSE: AL) and Co-founder of International Lease Finance Corporation (ILFC). His career is rooted in aviation, finance, and entrepreneurial audacity.
Udvar-Házy holds a B.S. in Economics from the University of California, Los Angeles (UCLA). His philosophical approach centers on scale, risk management, and long-term asset hold in the essential aviation leasing sector (pioneering the modern aircraft leasing model). He emigrated from Hungary to the U.S. during the 1956 Hungarian Revolution.
Steven Udvar-Házy's strategic genius was his commitment to asset finance. He co-founded ILFC in 1973 (with Leslie Gonda and his son, Louis Gonda), recognizing the structural shift of airlines moving from owning to leasing aircraft. The company was sold to AIG in 1990. His structural contribution is immense: pioneering the modern operating lease model for commercial aviation.
He later founded Air Lease Corporation (ALC) in 2010 (after leaving AIG), quickly building it into a major global player. His wealth is secured by the colossal, long-term, stable profitability of the global aviation and aircraft leasing sector.
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Co-founds International Lease Finance Corporation (ILFC) (Founding 1).
ILFC is sold to AIG for $1.3 billion (Major Exit 1).
Founds Air Lease Corporation (ALC) (Founding 2).
ALC executes its successful IPO on the NYSE (Financial Milestone).
Continues as Founder and Executive Chairman of ALC, guiding the global financial giant (Executive Oversight).
Steven Udvar-Házy's wealth is concentrated in his founding equity and continued executive leadership of the publicly traded financial giant, Air Lease Corporation (NYSE: AL), and his private investments.
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Steven Udvar-Házy's social impact stems from ALC's role in providing essential capital and aircraft to airlines globally, supporting the efficiency and expansion of global air travel. His personal philanthropy supports various educational and community initiatives, including major contributions to the National Air and Space Museum and UCLA.
His personal philanthropy supports various community and educational initiatives.
Steven Udvar-Házy maintains the professional, composed style of a corporate executive. His attire is consistently formal and high-quality, favoring tailored suits. His aesthetic reflects serious authority and stability, typical of a leader in the global aviation sector.
Residing in Beverly Hills, California, his luxury is the immense security and financial reward derived from his multi-billion dollar fortune. His life is dedicated to investment strategy, aviation finance, and corporate governance.
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+0% | +$0.35M
+0.95% | +$19.99M
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