Have you ever seen the name Gies on a college building or a football stadium and wondered who he is? This Larry Gies biography tells you about the farm town boy who built a giant business and gave away huge gifts. You will learn about his family, school, work, money and the causes he loves.
Who Is Larry Gies and Why It Matters
Larry Gies is an American businessman and philanthropist. He is the founder and CEO of Madison Industries, a private company that buys and grows businesses. Its work reaches filtration, safety, medical testing, air quality and more.
Why should you care? Think of a snowball rolling downhill. Gies started with a tiny ball of snow, a few credit cards and a small loan. Over about thirty years it grew into a business worth billions. That story gives real hope to people who start with very little.
He is also the person behind the name on the Gies College of Business at the University of Illinois Urbana-Champaign.
Current Status as of October 20, 2026
As of October 20, 2026, Larry Gies is still the founder and CEO of Madison Industries. He also leads the Gies Foundation, which supports education and health. Earlier this year, Madison Air became a public company. It was priced at $27 a share and raised about $2.2 billion, which made it the biggest US IPO of 2026 at that time. Gies keeps control of Madison Air through special voting shares.
In September 2025, he also announced a $100 million gift to Illinois athletics. Memorial Stadium was renamed Gies Memorial Stadium to honor his late father.
Early Life and Family Background
Larry grew up in Mendota, Illinois, a small town in LaSalle County. He has said it was a place where everybody knew everybody. As a kid he did farm jobs like detasseling corn, baling hay and mowing lawns. He had also never flown on a plane before college and had visited only a few states.
In high school he dreamed of playing football but was cut from the team. He then turned to wrestling instead. That small story shows how he handles a closed door by finding another one.
Parents
His father, Larry Gies Sr., was a US Army veteran. He worked for a Mendota company called Conco. His mother was born in the Netherlands during World War II, and her father was active in the Dutch Resistance. She met Larry’s father while visiting an adopted sister in Rockford, and the family later settled in Mendota. The 2025 stadium gift was made to honor his father.
Education
Larry applied to just one college, the University of Illinois. He earned a bachelor’s degree in accountancy and graduated in 1988. He later earned an MBA from Northwestern University in 1992. After college he started his career at Touche Ross, which is now Deloitte. Illinois also gave him an honorary Doctor of Humane Letters.
Career
Gies founded Madison Capital Partners in 1994. He used ten credit cards, money from investors and a $50,000 loan from a college friend to buy his first businesses. Later the firm grew into Madison Industries, a holding company that buys and builds businesses. Forbes counted more than 80 purchases in over 20 countries since 2004.
His style is plain. He buys solid, not flashy, companies and keeps them for the long run. Picture a farmer who plants trees that will give fruit for his grandchildren. That is how he describes his goal: to build something that lasts longer than he does.
Age, Height and Religion
What we do know is that he graduated from college in 1988, so he is likely in his late 50s. His height is not publicly confirmed. His religion is also not stated. He supports Chicago Jesuit Academy, but giving to a school does not tell us his own faith.
Wife and Children
Larry is married to Beth Gies. They met at the University of Illinois. She is also an Illinois graduate and a former teacher. Larry says she worked three jobs so he could start his business. He has said they have three children. Their names are not confirmed in reliable public sources, so we leave them out to respect their privacy.
Net Worth
This is the part where numbers get messy. Forbes has described his fortune at about $6 billion. Other websites list lower or higher figures, and some small sites even guess far lower. After the Madison Air IPO, one news report said his 15 percent stake alone was worth over $2 billion.
Because the company is private and has many parts, nobody outside can give an exact number. Treat any single figure as an estimate.
State of Origin and Social Media Links
His state of origin is Illinois, United States. He was raised in Mendota and now works from Chicago.
We did not find verified personal social media accounts for him, and we will not post links we cannot confirm. Here are official and trusted profile pages instead:
- Larry Gies speaker profile at Invest for Kids Chicago
- Larry Gies profile in the University of Illinois 150 series
Giving Back: The Gifts That Changed Illinois
In October 2017, Larry and Beth pledged $150 million to the University of Illinois business school. It was the largest gift in the university’s history. In November 2017, the school board approved naming it the Gies College of Business. He even thought about staying anonymous, but he agreed to the name so the gift could inspire others. The money has helped with scholarships, hiring teachers and online learning.
In September 2025, Gies gave another $100 million, this time to Illinois athletics. His mantra explains both gifts: “I invest in people, not things.” He met football coach Bret Bielema’s staff and players and wanted to back the team.
Teaching and Other Causes
Many rich donors send a check and stay home. Larry shows up. He has taught a guest class at Illinois for more than twenty years, and he gave the 2019 commencement speech. The dean once said that if Larry were a professor, he would likely be the highest rated one at the school.
Through the Gies Foundation, the family also helped start the Gies Campus of Chicago Jesuit Academy, a full scholarship school on Chicago’s West Side. The foundation has also supported groups like Teach for America, Boys and Girls Club and health charities.
Quick Facts Table
| Detail | Information |
|---|---|
| Full Name | Larry W. Gies |
| Known For | Founder and CEO of Madison Industries |
| Home State | Illinois, USA |
| Hometown | Mendota, Illinois |
| Education | BS in Accountancy, University of Illinois (1988); MBA, Northwestern (1992) |
| Wife | Beth Gies |
| Father | Larry Gies Sr., US Army veteran |
| Business Founded | 1994 |
| Major Gifts | $150 million (2017) and $100 million (2025) to Illinois |
| Net Worth | Estimates vary; Forbes reported about $6 billion |
| Height, Birth Date, Religion | Not publicly confirmed |
FAQ
Who is Larry Gies?
Larry Gies is the founder and CEO of Madison Industries and a well known donor to the University of Illinois. The business school there carries his name.
How old is Larry Gies?
His exact birth date is not confirmed in reliable public sources. He graduated from college in 1988, which suggests he is in his late 50s.
Who is Larry Gies’s wife?
His wife is Beth Gies. They met at the University of Illinois, and she is a former teacher who supports the family’s education work.
What is Larry Gies’s net worth?
Estimates differ. Forbes has reported about $6 billion, while other sites give lower numbers. Because his company is private, no exact figure is public.
Where did Larry Gies go to school?
He earned a bachelor’s degree in accountancy from the University of Illinois in 1988 and an MBA from Northwestern University in 1992.
Why is the Gies College of Business named after him?
He and Beth gave $150 million to the school in 2017. It was the largest gift in the university’s history, so the school was renamed in his honor.
What is Madison Air?
Madison Air is a company built by Madison Industries that makes air systems for homes, offices and data centers. It started trading on the NYSE in April 2026.
Final Word
Larry Gies went from a small farm town to the top of the business world. He did it with hard work, a wife who believed in him, and a plan to buy good companies and hold them for the long haul. The best part of his story may be what he did next, which was to give back to the school that changed his life.
Some details, like his birth date, height and religion, are still private. We chose to say so rather than fill the gaps with guesses. As news changes, this page can be updated with new facts.
What would you do if you had a chance to help the school that shaped you? His story shows that where you begin does not decide where you end up.
