Old page wikitext, before the edit (old_wikitext) | '{{Short description|American billionaire businesswoman (born 1959)}}
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{{Infobox officeholder
| name = Penny Pritzker
| image = Penny Pritzker official portrait.jpg
| office = 38th [[United States Secretary of Commerce]]
| president = [[Barack Obama]]
| deputy = [[Patrick D. Gallagher]] (acting)<br>[[Bruce H. Andrews]]
| term_start = June 26, 2013
| term_end = January 20, 2017
| predecessor = [[John Bryson]]
| successor = [[Wilbur Ross]]
| party = [[Democratic Party (United States)|Democratic]]
| birth_name = Penny Sue Pritzker
| birth_date = {{birth date and age|1959|5|2}}
| birth_place = [[Chicago]], [[Illinois]], U.S.
| death_date =
| death_place =
| spouse = Bryan Traubert
| children = 2
| relatives = [[J. B. Pritzker]] (brother)<br>[[Anthony Pritzker]] (brother)<br>
See [[Pritzker family]]
| education = [[Harvard University]] (AB)<br>[[Stanford University]] (JD, MBA)
| parents = [[Donald Pritzker]] (father)
| Family =
}}
'''Penny Sue Pritzker''' (born May 2, 1959) is an American billionaire businesswoman and civic leader who served as the 38th [[United States Secretary of Commerce|United States secretary of commerce]] in the [[Presidency of Barack Obama|Obama administration]] from 2013 to 2017.<ref name="Easton, Nina, The fascinating life">{{Cite web|url=http://fortune.com/2014/06/02/fortune-500-pritzker/|title=The fascinating life of Penny Pritzker (so far)|last=Easton|first=Nina|date=June 2, 2014|website=Fortune|access-date=November 30, 2016 |url-status=live|archive-url=https://web.archive.org/web/20161208131705/http://fortune.com/2014/06/02/fortune-500-pritzker/ |archive-date=December 8, 2016}}</ref> She was confirmed by a Senate vote of 97–1.
Pritzker spent her early career in business. She worked her way up through the [[Pritzker family]] business, eventually being appointed as one of three successors to her uncle, [[Jay Pritzker]]. She is the founder of PSP Partners, PSP Capital Partners, and Pritzker Realty Group, and co-founder of Artemis Real Estate Partners and Inspired Capital. She is on the board of Microsoft, and chair of the Carnegie Endowment for International Peace. As of October 2021, ''[[Forbes]]'' estimated her net worth at US$3.2 billion.<ref name="forbes1">{{cite web|title=Penny Prtizker|url=https://www.forbes.com/profile/penny-pritzker/ |website=Forbes|url-status=live|access-date=September 28, 2020 |archive-url=https://web.archive.org/web/20161206014741/http://www.forbes.com/profile/penny-pritzker/|archive-date=December 6, 2016}}</ref> In 2009, Forbes named Pritzker one of the 100 most powerful women in the world.
Before entering government service, Pritzker had been involved in many Chicago organizations, including the [[Chicago Board of Education]], [[Museum of Contemporary Art, Chicago]], and her own foundation, the Pritzker Traubert Family Foundation. Pritzker was an early supporter of Obama's presidential candidacy, having been a friend of the Obama family since their time in Chicago.
She is the sister of [[J. B. Pritzker]], the current [[governor of Illinois]].
== Early life and education ==
Penny Pritzker was born in Chicago in 1959, the daughter of Sue (née Sandel)<ref>{{cite news |url=https://pqasb.pqarchiver.com/chicagotribune/access/627438772.html?dids=627438772:627438772&FMT=CITE&FMTS=CITE:AI&type=historic&date=May+08%2C+1982&author=&pub=Chicago+Tribune&desc=Mishap+kills+Sue+Pritzker%2C+widow+of+Hyatt+Hotel+founder%2C+at+age+49&pqatl=google |work=Chicago Tribune |title=Mishap kills Sue Pritzker, widow of Hyatt Hotel founder, at age 49 |date=May 8, 1982}}</ref> and [[Donald Pritzker]]. She is a member of the Pritzker family of Chicago, a wealthy and influential business family.<ref>{{cite news|title=Penny Pritzker, Jewish Hotel Heiress, Tapped for Commerce Job |url=http://forward.com/news/breaking-news/175841/penny-pritzker-jewish-hotel-heiress-tapped-for-com/|access-date=November 7, 2017 |work=[[The Forward]]|date=May 2, 2013|url-status=live |archive-url=https://web.archive.org/web/20170310121946/http://forward.com/news/breaking-news/175841/penny-pritzker-jewish-hotel-heiress-tapped-for-com/|archive-date=March 10, 2017}}</ref> Donald Pritzker was one of the co-founders of [[Hyatt]] Hotels. He moved the family to [[Atherton, California]], where business for the Hyatt Hotels began to grow.<ref>{{cite web|url=http://www.chicagomag.com/Chicago-Magazine/March-2014/power-jb-pritzker-profile/|title=J.B. Pritzker: The Other Mayor of Chicago|first=Bryan|last=Smith|website=Chicago magazine|access-date=February 21, 2019}}</ref> Penny has two younger brothers, [[Anthony Pritzker|Tony]] ({{abbr|b.|born}} 1961) and [[J. B. Pritzker]] ({{abbr|b.|born}} 1965), the incumbent [[Governor of Illinois]].<ref name="Easton, Nina, The fascinating life" />
Young Penny would accompany her father to the hotels and check the cleanliness of the ladies restrooms. In 1972, Don died suddenly of a heart attack when Penny was 13{{nbsp}}years old. Following Don's death, Sue began battling depression, requiring Penny to at times care for her mother and her younger brothers.<ref name="Easton, Nina, The fascinating life" /> At age 16, Penny wrote a letter to her grandfather, and head of the family business empire, [[Abram Nicholas Pritzker|A.]]{{nbsp}}[[Abram Nicholas Pritzker|N. Pritzker]], in which she asked why he talked business with the men in the family and not with her.<ref name="Davis, Julie Hirschfeld, Penny Pritzker Tackles">{{Cite news|url=https://www.nytimes.com/2015/10/09/business/penny-pritzker-tackles-tough-assignments-as-commerce-secretary.html|title=Penny Pritzker Tackles Tough Assignments as Commerce Secretary|last=Davis|first=Julie Hirschfeld|date=October 8, 2015|work=The New York Times|access-date=April 16, 2017|archive-url=https://web.archive.org/web/20161216202552/http://www.nytimes.com/2015/10/09/business/penny-pritzker-tackles-tough-assignments-as-commerce-secretary.html|archive-date=December 16, 2016|url-status=live|issn=0362-4331}}</ref> Finally realizing Penny's interest in business, A.{{nbsp}}N. provided her with a summer course in accounting.<ref name="Davis, Julie Hirschfeld, Penny Pritzker Tackles" />
Penny attended [[Castilleja School]] until 1977.<ref>{{cite web|last=DeBare|first=Ilana|title=Prominent Alumnae of Girls' Schools |website=Where Girls Come First|url=http://www.wheregirlscomefirst.com/alumnae.php|access-date=November 27, 2007 |archive-url=https://web.archive.org/web/20070710133643/http://www.wheregirlscomefirst.com/alumnae.php|archive-date=July 10, 2007}}</ref><ref name="PAW110905">{{cite news|url=http://www.paloaltoonline.com/weekly/morgue/2005/2005_11_09.gatown09.shtml|title=Around Town|newspaper=[[Palo Alto Weekly]]|date=November 9, 2005|access-date=May 2, 2013|url-status=live |archive-url=https://web.archive.org/web/20120212215601/http://www.paloaltoonline.com/weekly/morgue/2005/2005_11_09.gatown09.shtml|archive-date=February 12, 2012}}</ref> She graduated with a [[Bachelor of Arts]] in economics from [[Harvard College]] in 1981.<ref name="Lissner, Madeline W.">{{Cite web|url=http://w.thecrimson.com/article/2006/6/5/penny-pritzker-penny-s-pritzker-81/|title=Penny Pritzker|last=Madeline W.|first=Lissner|date=June 5, 2006|website=The Harvard Crimson|access-date=December 1, 2016}}</ref> The following year, Penny's mother died after falling out of the passenger side of a tow truck. Penny returned to school, earning both a [[Juris Doctor]] and an MBA from [[Stanford University]] in 1985.<ref name="Easton, Nina, The fascinating life" />
== Pritzker family businesses ==
=== Early ventures ===
After she earned her degrees, Pritzker joined the Pritzker organization encouraged by her cousin [[Nicholas J. Pritzker|Nick Pritzker]].<ref name="Easton, Nina, The fascinating life" /><ref>{{cite magazine|url=http://www.chicagomag.com/Chicago-Magazine/December-2002/Tremors-in-the-Empire/|title=Tremors in the Empire|last=Tritsch|first=Shane|date=June 1, 2007|magazine=[[Chicago (magazine)|Chicago]]|access-date=April 29, 2017|archive-url=https://web.archive.org/web/20160921163810/http://www.chicagomag.com/Chicago-Magazine/December-2002/Tremors-in-the-Empire/|archive-date=September 21, 2016|url-status=live}}</ref> In 1987, she founded Classic Residence by Hyatt, later renamed [[Vi Senior Living, Classic Residence|Vi]], upscale housing for seniors as an alternative to nursing homes.<ref name="Easton, Nina, The fascinating life" /><ref name=":7" /> The project struggled at first, losing $40{{nbsp}}million in the first 18{{nbsp}}months,<!--<ref name="Easton, Nina, The fascinating life" />--> but turned around after changes in marketing and management.<ref name="Easton, Nina, The fascinating life" /> In 1991, [[Jay Pritzker]], Penny's uncle and head of the Pritzker family businesses, named Penny as the director of the Pritzkers' non-hotel landholdings.<!--<ref name="Harris, Melissa, How a billionaire invests" />--> With that appointment, Penny created the Pritzker Realty Group, which developed apartment buildings, shopping centers, and the Baldwin Park neighborhood in [[Orlando, Florida]].<ref name="Harris, Melissa, How a billionaire invests">{{Cite news |url=http://www.chicagotribune.com/business/chi-inside-penny-pritzkers-portfolio-how-a-billionaire-invests-20130522-column.html |title=Inside Penny Pritzker's portfolio: How a billionaire invests|last1=Harris|first1=Melissa|date=May 19, 2013|work=Chicago Tribune |access-date=April 19, 2017|archive-url=https://web.archive.org/web/20170419195756/http://www.chicagotribune.com/business/chi-inside-penny-pritzkers-portfolio-how-a-billionaire-invests-20130522-column.html|archive-date=April 19, 2017|url-status=live|last2=MarksJarvis |first2=Gail|language=en-US}}</ref>
====Superior Bank====
From 1991 to 1994, Penny Pritzker was chairperson of the [[Hinsdale, Illinois]]-based [[Superior Bank of Chicago]], in which Jay Pritzker had purchased a 50% stake from the [[Federal Deposit Insurance Corporation]], who had taken over the bank when it failed<!--<ref name="wsj" />-->. In 1993 the bank "embarked on a business strategy of significant growth into subprime home mortgages", according to a report by the [[United States Treasury Department]].<ref name="wsj">{{cite news |url=https://www.wsj.com/articles/SB121660089138069207?mod=hps_us_editors_picks|title=A Top Obama Fund-Raiser Had Ties to Failed Bank |last=Emshwiller|first=John R.|date=July 21, 2008|newspaper=[[The Wall Street Journal]]|pages=A10|access-date=July 21, 2008 |url-status=live|archive-url=https://web.archive.org/web/20171107053509/https://www.wsj.com/articles/SB121660089138069207?mod=hps_us_editors_picks|archive-date=November 7, 2017}}</ref> In 2000 it became clear the bank was faltering. In the months leading up to 2001, the Pritzkers tried to work out a recapitalization plan.<ref name="wsj" /> In July 2001, the FDIC seized the bank after the recapitalization could not be resolved.<ref name="bw">{{cite news |url=http://www.businessweek.com/magazine/content/01_37/b3748102.htm?chan=search|title=The Pritzkers' Empire Trembles: Can a new generation halt the slide in the family's fortunes?|last=Weber|first=Joseph|date=September 10, 2001|work=Business Week|access-date=July 21, 2008|archive-url=https://web.archive.org/web/20080222012932/http://www.businessweek.com/magazine/content/01_37/b3748102.htm?chan=search|archive-date=February 22, 2008|publisher=BusinessWeek|author2=Woellert, Lorraine}}</ref><ref name="nyt">{{cite news|url=https://query.nytimes.com/gst/fullpage.html?res=9C05E4D71E3CF934A3575BC0A9679C8B63&sec=&spon=&pagewanted=1|title=A Partnership Frays After An S.& L. Fails; In Laying Blame, Trying to Sort Out One Deal Maker's Complicated Legacy|last=Barboza |first=David|date=August 7, 2001|newspaper=[[The New York Times]]|access-date=July 21, 2008}}</ref><ref name="trib">{{cite news |url=http://www.accessmylibrary.com/coms2/summary_0286-8324820_ITM|title=Regulators close Chicago-area bank |last=Allison |first=Melissa |author2=Neikirk, William |date=July 27, 2001|newspaper=[[The Chicago Tribune]]|access-date=July 21, 2008}}</ref> Subsequently, the Pritzker family reached an agreement with regulators to pay $460{{nbsp}}million.<ref name="wsj" /><ref>{{cite news |url=http://www.accessmylibrary.com/coms2/summary_0286-6244055_ITM |work=Knight Ridder/Tribune Business News |title=Judge rules family, others cannot be sued concerning Superior Bank's collapse |date=September 28, 2004}}</ref><ref name="ITT">David Mobert, [http://www.inthesetimes.com/article/671/ Breaking the Bank] {{webarchive|url=https://web.archive.org/web/20080719162517/http://www.inthesetimes.com/article/671/ |date=July 19, 2008 }}, ''[[In These Times]]'' November 8, 2002</ref><ref name="circuit7">[http://bulk.resource.org/courts.gov/c/F3/485/485.F3d.942.05-3651.05-3642.05-3500.05-1244.html John W. Courtney et al. v. Neal T. Halleren et al. (485 F.3d 942)] {{webarchive|url=https://web.archive.org/web/20100517215612/http://bulk.resource.org/courts.gov/c/F3/485/485.F3d.942.05-3651.05-3642.05-3500.05-1244.html |date=May 17, 2010 }}. Bulk.resource.org. Retrieved on December 4, 2011.</ref>
According to the FDIC, by 2011 the uninsured depositors of Superior had each received 81% of their uninsured monies, in addition to the $100,000 each previously received of their insured amount.<ref>{{cite web|title=Federal Deposit Insurance Corporation |url=http://www.fdic.gov/bank/individual/failed/superior.html|website=Failed Bank Information|url-status=live |archive-url=https://web.archive.org/web/20121202004943/http://www.fdic.gov/bank/individual/failed/superior.html|archive-date=December 2, 2012}}</ref> Industry experts have criticized the Pritzkers in regard to Superior.<ref name="Sun-Times">{{cite news |url=http://www.suntimes.com/news/politics/obama/919177,CST-NWS-pritz28.article|title=Obama's subprime pal|last=Pallasch|first=Abdon M.|date=April 28, 2008|work=Chicago Sun-Times|access-date=November 6, 2017|archive-url=https://web.archive.org/web/20081102222349/http://www.suntimes.com/news/politics/obama/919177,CST-NWS-pritz28.article|archive-date=November 2, 2008}}</ref> Consumer advocates and government investigators asserted Superior "engaged in unsound financial activities and predatory lending practices".<ref name=wsj/> Responding to the ''[[Wall Street Journal]]'', Pritzker noted she had no ownership in the bank, either direct or indirect, and that the bank's reasons for failure "were complex, including changes in accounting practices, auditing failures, reversals in regulatory positions and general economic conditions".<ref name=wsj/> She said the bank complied with "fair lending laws" and ethical business practices.<ref name=wsj/> A 2001 ''[[Business Week]]'' article described the bank's other owner, [[Alvin Dworman]], as the more dominant partner in its operation as a result of agreements made by Jay Pritzker.<ref name=bw/> Quoted in the ''[[New York Times]]'', a Pritzker family friend observed Pritzker was trapped in a deal of her uncle's making: "Penny got sucked into this…this was really the legacy of Jay."<ref name="nyt"/>
=== Leadership and dissolution ===
In 1995, Penny was named as one of three successors to the retiring Jay Pritzker besides his son [[Thomas Pritzker|Tom]] and his cousin Nick.<ref name="Sachdev, Ameet, Pritzker realty sells" /> Tom was named the official head of the businesses, Nick and Penny each named vice-chairman.<ref name=":7">{{Cite magazine|url=http://www.vanityfair.com/news/2003/05/andrews200305|title=Shattered Dynasty |last=Andrews|first=Suzanna|date=May 2003|magazine=Vanity Fair|access-date=April 29, 2017|archive-url=https://web.archive.org/web/20170222055838/http://www.vanityfair.com/news/2003/05/andrews200305|archive-date=February 22, 2017|url-status=live}}</ref> Together, the three were to oversee the Pritzker family assets.<ref name=":7" /><ref name="Sachdev, Ameet, Pritzker realty sells" /> Jay intended to keep the family business together, devising a system of trusts that would allow individual family members to receive money from the trusts to meet their needs; however, the family's wealth was to be primarily maintained in the trusts to grow the businesses and fund philanthropic endeavors. The Pritzker business empire contained over 200 businesses and was valued at $15{{nbsp}}billion.<ref name=":7" />
After Jay Pritzker's death in 1999, other Pritzker family members challenged Tom, Nick, and Penny's control of the businesses in multiple lawsuits.<ref name="Easton, Nina, The fascinating life" /><ref>[http://www.economist.com/node/184547 The Economist: "Jay Pritzker, pioneer of the modern hotel chain, died on January 23rd, aged 76"] {{webarchive|url=https://web.archive.org/web/20130703045039/http://www.economist.com/node/184547 |date=July 3, 2013}} January 28, 1999.</ref> Penny's brothers joined in one of the lawsuits. In 2001 Tom, Nick, and Penny decided to sell family assets to allow eleven cousins to receive a share, dissolving the family's business ties. Disentangling the family's business interests took nearly a decade.<ref name="Easton, Nina, The fascinating life" /> The family sold its controlling stake in the [[Marmon Group]] to [[Berkshire Hathaway]] for $4.5{{nbsp}}billion in 2008.<ref name="forbes1" /> The Pritzker Realty Group sold Parking Spot, an airport parking management business Penny co-founded in 1998,<ref>{{cite web|url=http://www.penny-pritzker.com/penny-pritzker-biography.html |title=Penny S. Pritzker – Biography|year=2008|website=Penny Pritzker – Official website |author=Staff |access-date=November 19, 2008|url-status=dead |archive-url=https://web.archive.org/web/20081022145107/http://www.penny-pritzker.com/penny-pritzker-biography.html |archive-date=October 22, 2008}}</ref> to Green Courte Partners LLC for $360{{nbsp}}million in 2011.<ref name="Sachdev, Ameet, Pritzker realty sells">{{Cite news|url=http://articles.chicagotribune.com/2011-12-09/business/chi-pritzker-realty-sells-parking-lot-chain-to-private-equity-firm-20111209_1_pritzker-realty-group-tom-pritzker-valet-service|title=Pritzker Realty sells parking lot chain to private equity firm|last1=Sachdev|first1=Ameet|date=December 9, 2011|work=tribunedigital-chicagotribune|access-date=April 2, 2017|archive-url=https://web.archive.org/web/20160701134519/http://articles.chicagotribune.com/2011-12-09/business/chi-pritzker-realty-sells-parking-lot-chain-to-private-equity-firm-20111209_1_pritzker-realty-group-tom-pritzker-valet-service|archive-date=July 1, 2016|url-status=live|last2=Harris|first2=Melissa}}</ref>
Starting in 2005, she served as non-executive chairman of [[TransUnion]].<ref>[https://www.sec.gov/Archives/edgar/data/1513512/000119312511072512/d424b3.htm Prospectus] {{webarchive|url=https://web.archive.org/web/20150924134225/http://www.sec.gov/Archives/edgar/data/1513512/000119312511072512/d424b3.htm |date=September 24, 2015 }}. Sec.gov. Retrieved on August 12, 2013.</ref> In 2009, she co-founded Artemis Real Estate Partners LLC, a real estate investment management company, with Deborah Harmon.<ref>{{Cite news |url=http://www.chicagobusiness.com/realestate/20120111/CRED03/120119932/penny-pritzkers-artemis-raises-736-million-for-real-estate-investments|title=Penny Pritzker's Artemis raises $736 million for real estate investments|last=Gallun|first=Alby|date=January 11, 2012|work=Crain's Chicago Business|access-date=April 19, 2017}}</ref> In 2011, she founded an investment office, PSP Capital Partners.<ref name="Harris, Melissa, How a billionaire invests" /><ref>{{Cite web|url=http://www.pspcapital.com|title=PSP Capital Partners, LLC |archive-url=https://web.archive.org/web/20170429014542/http://www.pspcapital.com/|archive-date=April 29, 2017|url-status=live|access-date=April 12, 2017}}</ref> Altogether, Pritzker started five companies before joining the federal government.<ref name="Davis, Julie Hirschfeld, Penny Pritzker Tackles" />
== Government and political involvement ==
Pritzker's friendship with [[Barack Obama]] and his family dates back to the 1990s when he was a professor at the University of Chicago.<ref name="Easton, Nina, The fascinating life" /> Pritzker met Obama at a Chicago YMCA where her son participated in a basketball program coached by Obama's brother-in-law [[Craig Robinson (basketball)|Craig Robinson]].<ref name="Davis, Julie Hirschfeld, Penny Pritzker Tackles" /><ref>{{Cite news|url=https://www.theatlantic.com/politics/archive/2013/05/obamas-new-commerce-secretary-a-billionaire-chicago-hotel-magnate/275500/|title=Obama's New Commerce Secretary: A Billionaire Chicago Hotel Magnate |last=Vasilogambros|first=Matt|date=May 2, 2013|work=The Atlantic|access-date=April 16, 2017|archive-url=https://web.archive.org/web/20170417154954/https://www.theatlantic.com/politics/archive/2013/05/obamas-new-commerce-secretary-a-billionaire-chicago-hotel-magnate/275500/|archive-date=April 17, 2017|url-status=live}}</ref> Obama and his family were frequent guests at Pritzker's [[Lake Michigan]] vacation home.<ref name="Easton, Nina, The fascinating life" /><ref name="Kantor, Jodi, Pritzker had big role">{{Cite news|url=https://www.nytimes.com/2012/07/15/us/politics/penny-pritzker-had-big-role-in-obama-08-but-is-backstage-in-12.html|title=Penny Pritzker Had Big Role in Obama '08 but Is Backstage in '12|last1=Kantor|first1=Jodi|date=July 15, 2012|work=The New York Times|access-date=May 26, 2017|archive-url=https://web.archive.org/web/20170531102739/http://www.nytimes.com/2012/07/15/us/politics/penny-pritzker-had-big-role-in-obama-08-but-is-backstage-in-12.html|archive-date=May 31, 2017|url-status=live|last2=Confessore|first2=Nicholas|issn=0362-4331}}</ref>
Pritzker was an early supporter of Obama's political career, helping to finance his 2004 Senate campaign.<!--<ref name="Kantor, Jodi, Pritzker had big role" />--> Early in the Democratic presidential primary, Pritzker's financing helped Obama's candidacy survive when Obama was trailing [[Hillary Clinton]] in the polls.<ref name="Kantor, Jodi, Pritzker had big role" /> Pritzker remained a major fundraiser for Obama during the 2008 Democratic primary and raised millions overall for his White House bid.<ref name="Easton, Nina, The fascinating life" /> She served as the national finance chair of [[Barack Obama 2008 presidential campaign|Obama's 2008 presidential campaign]].<ref name="Kornblut, Anne E., Obama's Campaign">{{cite news|url=https://www.washingtonpost.com/wp-dyn/content/article/2007/04/04/AR2007040400989.html|title=Obama's Campaign Takes In $25 Million,He Nearly Matches Clinton, With Twice as Many Donors|date=April 5, 2008|newspaper=[[Washington Post]]|format=printable|author1=Anne E. Kornblut|author2=Matthew Mosk |name-list-style=amp|access-date=September 24, 2008|url-status=live |archive-url=https://web.archive.org/web/20080725153946/http://www.washingtonpost.com/wp-dyn/content/article/2007/04/04/AR2007040400989.html|archive-date=July 25, 2008}}</ref> Under her direction, the campaign reached out to small donors. Pritzker also hosted more lavish fundraisers as part of her effort to raise money.<ref>{{cite news |url=https://www.nytimes.com/2008/07/03/us/politics/03donate.html?n=Top/Reference/Times%20Topics/Subjects/U/United%20States%20Politics%20and%20Government|title=Obama Picks Up Fund-Raising Pace |date=July 3, 2008|newspaper=Washington Post|author1=Michael Luo|author2=Christopher Drew|name-list-style=amp|url-status=live|access-date=February 12, 2013|archive-url=https://web.archive.org/web/20130501054149/http://www.nytimes.com/2008/07/03/us/politics/03donate.html?n=Top%2FReference%2FTimes%20Topics%2FSubjects%2FU%2FUnited%20States%20Politics%20and%20Government|archive-date=May 1, 2013}}</ref>
Following Obama's victory in the [[2008 United States presidential election|2008 presidential election]], [[CNN]] reported that Pritzker was president-elect Obama's top choice for [[United States Secretary of Commerce|Commerce Secretary]].<ref>{{cite news |title=Sources: Pritzker, Napolitano being vetted for Cabinet |url=http://www.cnn.com/2008/POLITICS/11/20/transition.wrap/index.html?iref=newssearch |date=November 20, 2008 |access-date=November 20, 2008 |work=CNN |url-status=live |archive-url=https://web.archive.org/web/20121105051705/http://www.cnn.com/2008/POLITICS/11/20/transition.wrap/index.html?iref=newssearch |archive-date=November 5, 2012 }}</ref> However, Pritzker took herself out of the running.<ref>{{cite web |url=http://www.politico.com/news/stories/1108/15827.html |title=Pritzker turns down Commerce |website=[[Politico (newspaper)|Politico]] |last=Allen |first=Mike |date=November 20, 2008 |url-status=live |access-date=February 12, 2013 |archive-url=https://web.archive.org/web/20120908125210/http://www.politico.com/news/stories/1108/15827.html |archive-date=September 8, 2012 }}</ref><ref>{{cite news |url=http://www.cnn.com/2008/POLITICS/11/20/transition.wrap/index.html |format=printable |title=Pritzker not a candidate for commerce secretary |work=[[CNN]] |author=Gloria Borger, Jason Carrol, Ed Henry, Jamie McIntyre, John King, Ed Hornick, Don Lemon, Jessica Yellin |date=November 20, 2008 |url-status=live |access-date=February 12, 2013 |archive-url=https://web.archive.org/web/20130307191050/http://www.cnn.com/2008/POLITICS/11/20/transition.wrap/index.html |archive-date=March 7, 2013 }}</ref><ref>{{cite news |url=http://thecaucus.blogs.nytimes.com/2008/11/20/pritzker-withdraws-from-cabinet-consideration/ |work=The New York Times |title=Pritzker Withdraws From Cabinet Consideration |first=Brian |last=Knowlton |date=November 20, 2008 |access-date=May 22, 2010 |url-status=live |archive-url=https://web.archive.org/web/20101115165732/http://thecaucus.blogs.nytimes.com/2008/11/20/pritzker-withdraws-from-cabinet-consideration/ |archive-date=November 15, 2010 }}</ref> According to the ''[[Chicago Tribune]]'', she withdrew her name from consideration "due to obligations to her family, for whom she was still overseeing billions in assets, and the financial crisis, which was putting some of those assets at risk".<ref>{{Cite news|url=http://articles.chicagotribune.com/2013-03-03/business/ct-biz-0303-confidential-penny-pritzker-20130303_1_penny-pritzker-commerce-secretary-fundraiser|title=Penny Pritzker U.S. commerce secretary |last=Harris|first=Melissa|date=March 3, 2013|newspaper=Chicago Tribune|access-date=December 2, 2016|url-status=live |archive-url=https://web.archive.org/web/20161202172330/http://articles.chicagotribune.com/2013-03-03/business/ct-biz-0303-confidential-penny-pritzker-20130303_1_penny-pritzker-commerce-secretary-fundraiser|archive-date=December 2, 2016}}</ref> As a result of her public support for President Obama, Pritzker found herself the target of labor groups for Hyatt Hotels' practices.<!--<ref name="Kantor, Jodi, Pritzker had big role" />--> The president of [[UNITE HERE|Unite Here]] cited her connection to Obama as a reason why the group expected her to use better labor practices as the group staged demonstrations against Pritzker.<ref name="Kantor, Jodi, Pritzker had big role" />
Pritzker was a member of the [[President's Council on Jobs and Competitiveness]]. She also served on the President's Economic Recovery Advisory Board. Although she was less active in the 2012 Obama campaign than she had been four years prior,<ref name="Kantor, Jodi, Pritzker had big role" /> she served as national co-chair of Obama for America 2012.<ref name="Kornblut, Anne E., Obama's Campaign" /> She was also on the board of directors of the [[Council on Foreign Relations]],<ref>{{Cite web|url=http://www.penny-pritzker.com/penny-pritzker-biography.html |title=Penny S. Pritzker - Biography|date=October 31, 2011 |website=www.penny-pritzker.com |access-date=December 2, 2016 |url-status=dead|archive-url=https://web.archive.org/web/20111031012750/http://www.penny-pritzker.com/penny-pritzker-biography.html |archive-date=October 31, 2011}}</ref><ref>{{Cite web |url=https://www.congress.gov/113/chrg/shrg94056/CHRG-113shrg94056.htm|title=Nomination of Penny Pritzker To Be Secretary of the U.S. Department of Commerce|date=May 23, 2013|publisher=United States Government Publishing Office|archive-url=https://web.archive.org/web/20170419002810/https://www.congress.gov/113/chrg/shrg94056/CHRG-113shrg94056.htm|archive-date=April 19, 2017|url-status=live|access-date=April 18, 2017}}</ref> a nonpartisan think tank focused on world affairs and U.S. foreign policy.
==Secretary of Commerce==
[[File:P050213CK-0051 (9097384658).jpg|thumb|right|Pritzker with President Barack Obama and [[Mike Froman]] in the Oval Office, May 2,{{nbsp}}2013]]
[[File:Secretary Pritzker Addresses International Media in Tokyo - Flickr - East Asia and Pacific Media Hub (2).jpg|thumb|Secretary Pritzker addresses international media in Tokyo, October 21,{{nbsp}}2014]]
Pritzker was nominated as [[United States Secretary of Commerce]] by [[President of the United States|President]] [[Barack Obama]] on May 2, 2013.<ref name="commerce">[[Lynn Sweet|Sweet, Lynn]] (May 2, 2013) [http://www.suntimes.com/news/metro/19845352-418/obama-to-nominate-chicago-exec-penny-pritzker-as-commerce-secretary-thursday.html "Obama nominates Chicago exec Penny Pritzker as commerce secretary"] {{webarchive|url=https://web.archive.org/web/20130618075224/http://www.suntimes.com/news/metro/19845352-418/obama-to-nominate-chicago-exec-penny-pritzker-as-commerce-secretary-thursday.html |date=June 18, 2013 }}, ''[[Chicago Sun-Times]]''. Retrieved May 2, 2013.</ref><ref>{{cite news|last1=Calmes|first1=Jackie|title=Obama Picks Nominees for Commerce Dept. and Trade Representative|url=https://www.nytimes.com/2013/05/03/us/politics/obama-to-nominate-pritzker-for-commerce-post.html |access-date=November 7, 2017|work=The New York Times|date=May 2, 2013|url-status=live |archive-url=https://web.archive.org/web/20171024092628/http://www.nytimes.com/2013/05/03/us/politics/obama-to-nominate-pritzker-for-commerce-post.html|archive-date=October 24, 2017}}</ref> To avoid conflicts of interest, Pritzker agreed to sell her interest in at least 221 companies and resign from 158 entities, including the Hyatt Board of Directors and the [[Chicago Board of Education]].{{efn|In November 2017, the [[International Consortium of Investigative Journalists|International Consortium of Investigative Journalism]] released the "[[Paradise Papers]]," documents related to offshore services and tax havens, and alleged that Pritzker transferred her shares of two of her holdings to her children rather than selling them, as she had indicated on ethics forms.<ref>{{Cite news|url=https://www.icij.org/investigations/paradise-papers/explore-politicians-paradise-papers/|title=Explore The Politicians in the Paradise Papers - ICIJ|work=ICIJ|access-date=December 6, 2017|language=en-US}}</ref><ref name="Au-Yeung, Angel, Former Secretary">{{cite news|last1=Au-Yeung|first1=Angel|title=Former Secretary of Commerce And Hyatt Hotels Heir Penny Pritzker Identified In Paradise Papers|url=https://www.forbes.com/sites/angelauyeung/2017/11/05/former-secretary-of-commerce-and-hyatt-hotels-heir-penny-pritzker-identified-in-paradise-papers/#5c9e28102618|access-date=December 7, 2017|publisher=Forbs|date=November 5, 2017}}</ref> Pritzker responded with a statement saying that she had complied with the rules and regulations of the Office of Government Ethics regarding her holdings and divestitures.<ref name="Au-Yeung, Angel, Former Secretary" />}}<ref>{{Cite news |url=https://www.theatlantic.com/business/archive/2017/01/trumps-appointees-conflicts-of-interest-a-crib-sheet/512711/|title=The Trump Administration's Conflicts of Interest: A Crib Sheet|last=Venook|first=Jeremy|date=January 18, 2017|work=The Atlantic|access-date=April 14, 2017|archive-url=https://web.archive.org/web/20170415202626/https://www.theatlantic.com/business/archive/2017/01/trumps-appointees-conflicts-of-interest-a-crib-sheet/512711/|archive-date=April 15, 2017|url-status=live|language=en-US}}</ref><ref>{{Cite news |url=http://articles.chicagotribune.com/2013-05-02/news/chi-penny-pritzker-commerce-secretary-20130502_1_psp-capital-partners-penny-pritzker-commerce-secretary/2|title=Penny Pritzker to be nominated for Commerce secretary|last1=Parsons|first1=Christi|date=May 2, 2013 |work=Chicago Tribune|access-date=April 14, 2017|archive-url=https://web.archive.org/web/20170415103916/http://articles.chicagotribune.com/2013-05-02/news/chi-penny-pritzker-commerce-secretary-20130502_1_psp-capital-partners-penny-pritzker-commerce-secretary/2|archive-date=April 15, 2017|url-status=live|last2=Harris |first2=Melissa|language=en|last3=Skiba|first3=Katherine}}</ref><ref>{{Cite news |url=https://www.bloomberg.com/news/articles/2013-05-20/pritzker-yields-party-role-reversal-on-offshore-trusts|title=Pritzker Yields Party Role Reversal on Offshore Trusts|last=Litvan|first=Laura|date=May 20, 2013|work=Bloomberg.com|access-date=April 15, 2017 |archive-url=https://web.archive.org/web/20170416125435/https://www.bloomberg.com/news/articles/2013-05-20/pritzker-yields-party-role-reversal-on-offshore-trusts|archive-date=April 16, 2017|url-status=live}}</ref> Later that month, on May 23, the Senate held its confirmation hearing, which covered a variety of topics. Although Pritzker's family business dealings had been a target of Republican criticism when Obama announced her nomination, only three questions at the hearing related to her family.<ref>{{Cite news |url=http://www.politico.com/story/2013/05/penny-pritzker-confirmation-hearing-091822|title=Pritzker likely on confirmation path |last=Parti|first=Tarini|date=May 23, 2013|work=Politico|access-date=December 2, 2016|url-status=live |archive-url=https://web.archive.org/web/20161202171829/http://www.politico.com/story/2013/05/penny-pritzker-confirmation-hearing-091822|archive-date=December 2, 2016}}</ref> Pritzker was confirmed by the full Senate on June 25, by a vote of 97 to 1.{{efn|Senator [[Bernie Sanders]], an Independent caucusing with the Democrats, was the lone vote against Pritzker's confirmation.<ref name="Politico" />}}<ref name="Politico">[http://www.politico.com/story/2013/06/penny-pritzker-confirmed-commerce-secretary-93350.html?hp=l7 Penny Pritzker confirmed as Commerce secretary – Dan Berman] {{webarchive|url=https://web.archive.org/web/20130628234337/http://www.politico.com/story/2013/06/penny-pritzker-confirmed-commerce-secretary-93350.html?hp=l7 |date=June 28, 2013 }}. ''Politico'' (June 26, 2013). Retrieved on August 12, 2013.</ref> Pritzker was sworn in as Secretary on June 26, 2013.<ref>{{Cite news|url=http://www.nbcchicago.com/blogs/ward-room/Pritzker-Commerce-Secretary-213152011.html|title=Pritzker Takes Oath as Commerce Secretary|date=June 26, 2013|work=NBC Chicago|access-date=April 2, 2017 |archive-url=https://web.archive.org/web/20170402170154/http://www.nbcchicago.com/blogs/ward-room/Pritzker-Commerce-Secretary-213152011.html|archive-date=April 2, 2017|url-status=live}}</ref>
Among Pritzker's priorities was the [[Trans-Pacific Partnership]] (TPP), a proposed trade agreement that would have been the "largest regional trade agreement in history".<ref name="Hirschfeld, Julie Tackles Tough Assignments">{{Cite news |url=https://www.nytimes.com/2015/10/09/business/penny-pritzker-tackles-tough-assignments-as-commerce-secretary.html|title=Penny Pritzker Tackles Tough Assignments as Commerce Secretary|last=Davis|first=Julie Hirschfeld|date=October 8, 2015|work=The New York Times |access-date=April 16, 2017|issn=0362-4331|url-status=live |archive-url=https://web.archive.org/web/20161216202552/http://www.nytimes.com/2015/10/09/business/penny-pritzker-tackles-tough-assignments-as-commerce-secretary.html|archive-date=December 16, 2016}}</ref> Pritzker supported the TPP as a way to provide market access to U.S. businesses and as a way for the U.S. to set the standards for trade.<ref name="Hirschfeld, Julie Tackles Tough Assignments" /> Leading up the [[2016 United States presidential election|2016 presidential election]], in which both major party candidates openly opposed the TPP, Pritzker and other Obama officials continued to push for the TPP's passage in Congress.<ref>{{Cite news|url=http://thehill.com/policy/finance/298633-obama-administration-officials-push-for-pacific-pact|title=Obama administration officials ramp up push for Pacific pact|last=Needham|first=Vicki|date=September 29, 2016|work=TheHill|access-date=June 4, 2016 |archive-url=https://web.archive.org/web/20161002051040/http://thehill.com/policy/finance/298633-obama-administration-officials-push-for-pacific-pact|archive-date=October 2, 2016|url-status=live}}</ref> Ultimately, Congress failed to pass the TPP bill.<ref name="Primack, Dan, Pritzker talks post-government">{{Cite news|url=https://www.axios.com/penny-pritzker-talks-post-government-life-ai-and-airbnb-2422165574.html|title=Penny Pritzker talks post-government life, AI and Airbnb|last=Primack|first=Dan|date=May 26, 2017|work=Axios|access-date=May 27, 2017|archive-url=https://web.archive.org/web/20170526131646/https://www.axios.com/penny-pritzker-talks-post-government-life-ai-and-airbnb-2422165574.html|archive-date=May 26, 2017|url-status=live}}</ref>
Pritzker named a Digital Economy Board of Advisors, which included tech industry CEOs and academics, to advise on policy.<!--<ref name="BNA Tech Frets" />--> Pritzker also expanded the IP attache program, which helps the tech industry protect their intellectual property abroad.<ref name="BNA Tech Frets">{{Cite web|url=https://www.bna.com/tech-frets-trump-n73014448443/|title=Tech Frets About Trump Commerce Department's Digital Stance|publisher=[[Bloomberg BNA]]|archive-url=https://web.archive.org/web/20170419200427/https://www.bna.com/tech-frets-trump-n73014448443/|archive-date=April 19, 2017|url-status=live|access-date=April 15, 2017}}</ref> As secretary, Pritzker also created the Commerce Data Advisory Council to identify priorities for the Department of Commerce, a prolific publisher of data intended to allow businesses to plan and innovate.<ref>{{Cite web|url=https://techcrunch.com/2016/03/02/talking-innovation-in-a-data-enabled-economy-with-secretary-penny-pritzker/|title=Talking innovation in a data-enabled economy with Secretary Penny Pritzker {{!}} TechCrunch|last=Collins|first=Shelly Kapoor|date=March 2, 2016|website=Tech Crunch|archive-url=https://web.archive.org/web/20160607195138/http://techcrunch.com/2016/03/02/talking-innovation-in-a-data-enabled-economy-with-secretary-penny-pritzker/|archive-date=June 7, 2016|url-status=live|access-date=June 10, 2017}}</ref> Pritzker served as the lead negotiator for the United States in the E.U.–U.S. Privacy Shield, an agreement governing how companies transfer digital data from Europe to the United States.<ref>{{Cite news |url=https://www.nytimes.com/2016/03/09/technology/penny-pritzker-on-the-privacy-shield-pact-with-europe.html|title=Penny Pritzker on the Privacy Shield Pact With Europe|last=Scott|first=Mark|date=March 8, 2016|work=The New York Times|access-date=April 15, 2017|archive-url=https://web.archive.org/web/20160722074426/http://www.nytimes.com/2016/03/09/technology/penny-pritzker-on-the-privacy-shield-pact-with-europe.html|archive-date=July 22, 2016|url-status=live|issn=0362-4331}}</ref>
Following President Obama's announcement that the [[Cuban Thaw|United States would move towards normalizing relations with Cuba]], Pritzker traveled to [[Cuba]].<ref name="Oppman, Patrick, wraps Cuba trip">{{Cite web|url=http://www.cnn.com/2015/10/07/politics/penny-pritzker-cuba-obama-commerce/index.html|title=Penny Pritzker, secretary of commerce, wraps Cuba trip|last=Oppmann|first=Patrick|date=October 7, 2015|website=CNN|archive-url=https://web.archive.org/web/20170423155201/http://www.cnn.com/2015/10/07/politics/penny-pritzker-cuba-obama-commerce/index.html|archive-date=April 23, 2017|url-status=live|access-date=April 22, 2017}}</ref> Although Obama's change in policy did not end the [[United States embargo against Cuba|U.S. trade embargo]], since ending the embargo required an act of Congress, Pritzker met with Cuban trade ministers and other officials to discuss the changing relationship between the two countries and to lay the groundwork for more economic involvement.<ref name="Oppman, Patrick, wraps Cuba trip" /><ref>{{Cite news|url=https://www.bbc.com/news/world-latin-america-34461415|title=US Commerce Secretary Pritzker in Cuba for embargo talks|date=October 16, 2015|work=BBC News|access-date=April 22, 2017|archive-url=https://web.archive.org/web/20170423153230/http://www.bbc.com/news/world-latin-america-34461415|archive-date=April 23, 2017|url-status=live|language=en-GB}}</ref>
Following her tenure as Secretary, Pritzker returned to PSP and the private sector.<ref name="Primack, Dan, Pritzker talks post-government" />
== Civic and philanthropic activities ==
Pritzker is involved in public education. She was a member of the Chicago Board of Education and is past chair of the Chicago Public Education Fund.<ref>{{Cite news|url=http://thefundchicago.org/the-chicago-public-education-fund-announces-new-chairman-transition-plan/|title=The Chicago Public Education Fund Announces new Chairman, transition plan - Chicago Public Education Fund|date=May 25, 2011|work=Chicago Public Education Fund|access-date=April 23, 2017|archive-url=https://web.archive.org/web/20170423152237/http://thefundchicago.org/the-chicago-public-education-fund-announces-new-chairman-transition-plan/|archive-date=April 23, 2017|url-status=live|language=en-US}}</ref> Pritzker was elected to a six-year term on the [[Harvard Board of Overseers]] in 2002.<ref name="Lissner, Madeline W." /> In 2018, she was elected to the [[President and Fellows of Harvard College]], which oversees [[Harvard University]].<ref name="Harvard Magazine">{{Cite web|url=https://www.harvardmagazine.com/2018/05/harvard-new-corporation-members-overseer-leaders|title=Harvard's Governing Boards Refreshed|date=May 23, 2018|website=Harvard Magazine|access-date=May 29, 2018}}</ref> Pritzker was Advisory Board Chair of Skills for America's Future (SAF), a policy initiative of the [[Aspen Institute]].<ref>{{cite web|title=The Aspen Institute|url=http://www.aspeninstitute.org/policy-work/economic-opportunities/skills-americas-future/our-people |url-status=dead |archive-url=https://web.archive.org/web/20120325025003/http://www.aspeninstitute.org/policy-work/economic-opportunities/skills-americas-future/our-people |archive-date=March 25, 2012 |access-date=December 2, 2016}}</ref> Pritzker is a former chair of the [[Museum of Contemporary Art, Chicago]].<ref>{{Cite web|url=http://www.artnews.com/top200/penny-pritzker-and-bryan-traubert/|title=Penny Pritzker and Bryan Traubert|website=ARTnews|language=en-US|archive-url=https://web.archive.org/web/20161231211536/http://www.artnews.com/top200/penny-pritzker-and-bryan-traubert/|archive-date=December 31, 2016|url-status=live|access-date=April 23, 2017}}</ref>
Pritzker and her husband, Bryan Traubert, have their own foundation called the Pritzker Traubert Family Foundation. The foundation focuses on physical activity for young people and increasing economic opportunity in Chicago.<ref name="Goffredo, Kedra">{{Cite news|url=http://www.triathlete.com/2015/03/features/u-s-commerce-secretary-pritzkers-passion-triathlon_112251|title=U.S. Commerce Secretary Pritzker's Passion For Triathlon|last=Goffredo|first=Kendra|date=March 26, 2015|work=Triathlete.com|access-date=April 23, 2017|archive-url=https://web.archive.org/web/20170424174215/http://www.triathlete.com/2015/03/features/u-s-commerce-secretary-pritzkers-passion-triathlon_112251|archive-date=April 24, 2017|url-status=live|language=en-US}}</ref> Among their initiatives were a $5{{nbsp}}million donation to converting grass soccer fields to easier-to-maintain turf and a $1{{nbsp}}million donation to repair tennis courts around Chicago.<ref>{{Cite news|url=http://chicago.suntimes.com/news/kapos-tennis-courts-get-1m-in-pritzker-love/|title=Kapos: Tennis courts get $1M in Pritzker love|date=January 22, 2017|work=Chicago Sun-Times|access-date=April 23, 2017|archive-url=https://web.archive.org/web/20170205191023/http://chicago.suntimes.com/news/kapos-tennis-courts-get-1m-in-pritzker-love/|archive-date=February 5, 2017|url-status=live|language=en}}</ref> The Pritzkers also established ChicagoRun, a program that prepares Chicago-area children to run their first [[5k race]].<ref name="Goffredo, Kedra" />
In 2012 ''[[Chicago (magazine)|Chicago]]'' magazine named her one of the 100 most powerful Chicagoans.<ref>{{cite news|url=http://www.Chicagomag.com/Chicago-magazine/march-2012/100-most-powerful-Chicagoans|title=100 Most Powerful Chicagoans|last=Bailey, Berstein, Burke, Colburn|date=March 2012|newspaper=Chicago Magazine|access-date=November 6, 2017|archive-url=https://web.archive.org/web/20120427101539/http://www.chicagomag.com/Chicago-Magazine/March-2012/100-Most-Powerful-Chicagoans-Penny-Pritzker/|archive-date=April 27, 2012|url-status=dead|display-authors=etal}}</ref> On March 26, 2014, ''[[Elle (magazine)|Elle]]'' honored Pritzker, with others, at the Italian Embassy in the United States during its annual "Women in Washington Power List".<ref name="Gucci and Elle Honor Women in Washington Power List">{{cite web | url=http://www.wwd.com/eye/parties/gucci-and-elle-honor-women-in-washington-power-list-7617841?src=nl/wkEye/20140328 | title=Gucci and Elle Honor Women in Washington Power List | publisher=WWD | date=March 26, 2014 | access-date=March 28, 2014 | author=Watters, Susan | url-status=live | archive-url=https://web.archive.org/web/20140411092134/http://www.wwd.com/eye/parties/gucci-and-elle-honor-women-in-washington-power-list-7617841?src=nl%2FwkEye%2F20140328 | archive-date=April 11, 2014 | df=mdy-all }}</ref>
In February 2018, Pritzker was elected to succeed [[Harvey V. Fineberg]] as chairperson of the [[Carnegie Endowment for International Peace]], taking effect May 2018.<ref>{{cite web | url=https://carnegieendowment.org/2018/02/22/penny-pritzker-elected-chairman-of-board-for-carnegie-endowment-for-international-peace-pub-75622 | title=Penny Pritzker Elected Chairman of the Board for the Carnegie Endowment for International Peace | website=Carnegie Endowment for International Peace | date=February 22, 2018 | access-date=October 11, 2018 | df=mdy-all }}</ref>
In March 2020, Pritzer set up the Illinois COVID-19 Response Fund, to assist non-profit organizations during the [[COVID-19 pandemic]], after receiving a call from her brother, Illinois Governor J. B. Pritzker. The siblings announced the creation of the fund with $23 million in start up money on March 24, 2020, six days after Governor Pritzker's request. Pritzker and her husband contributed $1.5 million of the initial sum.<ref name=":0">{{Cite web|url=https://chicago.suntimes.com/columnists/2020/3/29/21199064/how-illinois-gov-j-b-pritzker-sister-penny-billionaires-both-jumpstarted-illinois-covid-19-charity|title=How Gov. Pritzker, sister Penny — billionaires both — jump-started Illinois COVID-19 relief fund|last=Sweet|first=Lynn|date=2020-03-29|website=Chicago Sun-Times|language=en|access-date=2020-03-31}}</ref><ref>{{Cite news|last=O'Connor|first=John|url=https://www.nbcchicago.com/news/local/chicago-politics/pritzker-taps-obama-aide-his-sister-for-coronavirus-relief/2245615/|title=Pritzker Taps Obama Aide – His Sister – for Coronavirus Relief|date=March 27, 2020|work=nbcchicago.com|access-date=March 31, 2020|publisher=Associated Press}}</ref>
== Personal life ==
In the 1980s, Pritzker completed her first [[Ironman Triathlon]] in [[Hawaii]]. Pritzker trained for six months and ultimately finished the race in 12{{nbsp}}hours. In addition to competing in triathlons, Pritzker has also run marathons. Pritzker is married to ophthalmologist Bryan Traubert, with whom she has two children.<ref name="Easton, Nina, The fascinating life" /> Although her relationship with her brothers became strained following the family business restructuring, they eventually reconciled, and Penny expressed support for the idea of younger brother [[J. B. Pritzker|J.{{Nbsp}}B.]] running for office in 2017.<ref name="Easton, Nina, The fascinating life" /><ref>{{Cite news|url=http://chicago.suntimes.com/news/sweet-presidents-pal-pritzker-ponders-next-move/|title=Sweet: Commerce Secretary Pritzker ponders next move|work=Chicago Sun-Times|access-date=April 1, 2017|language=en|url-status=live|archive-url=https://web.archive.org/web/20170401145749/http://chicago.suntimes.com/news/sweet-presidents-pal-pritzker-ponders-next-move/|archive-date=April 1, 2017}}</ref>
==See also==
*[[Federal Deposit Insurance Corporation]]
*[[List of female United States Cabinet members]]
*[[List of people and organisations named in the Paradise Papers]]
*[[Office of Thrift Supervision]]
== Notes ==
{{Notelist}}
== References ==
{{Reflist}}
== External links ==
{{Commons category}}
* [https://www.commerce.gov/directory/pennypritzker About Secretary Penny Pritzker] at the [[United States Department of Commerce]]
* {{C-SPAN|1031777}}
* [https://www.wsj.com/articles/SB120554763760338773 Money Maven]
* [https://www.forbes.com/lists/2007/54/richlist07_Penny-Pritzker_CDNP.html The Forbes 400 – #135 Penny Pritzker] 2007 profile
* [http://www.thecrimson.com/article.aspx?ref=513679 The Harvard Crimson – Penny Pritzker] Madeline W. Lissner, June 5, 2006
* [http://www.secinfo.com/$/SEC/Registrant.asp?CIK=1087398 SEC filings]
* [https://web.archive.org/web/20190318171352/http://www.penny-pritzker.com/ Personal website]
{{s-start}}
{{s-off}}
{{s-bef
| before = [[John Bryson]]
}}
{{s-ttl
| title = [[United States Secretary of Commerce]]
| years = 2013–2017
}}
{{s-aft
| after = [[Wilbur Ross]]
}}
{{s-end}}
{{USSecCommerce}}
{{Obama cabinet}}
{{Authority control}}
{{DEFAULTSORT:Pritzker, Penny}}
[[Category:1959 births]]
[[Category:Living people]]
[[Category:20th-century American businesswomen]]
[[Category:20th-century American philanthropists]]
[[Category:20th-century women philanthropists]]
[[Category:21st-century American businesswomen]]
[[Category:21st-century American philanthropists]]
[[Category:21st-century women philanthropists]]
[[Category:21st-century American politicians]]
[[Category:21st-century American women politicians]]
[[Category:American billionaires]]
[[Category:American business executives]]
[[Category:American chairpersons of corporations]]
[[Category:American company founders]]
[[Category:American financial company founders]]
[[Category:American hoteliers]]
[[Category:American people of Ukrainian-Jewish descent]]
[[Category:American women business executives]]
[[Category:American women company founders]]
[[Category:American women investors]]
[[Category:Businesspeople from Chicago]]
[[Category:Carnegie Endowment for International Peace]]
[[Category:Castilleja School alumni]]
[[Category:Fellows of the American Academy of Arts and Sciences]]
[[Category:Female billionaires]]
[[Category:Harvard College alumni]]
[[Category:Hotel founders]]
[[Category:Hyatt people]]
[[Category:Illinois Democrats]]
[[Category:Members of the Chicago Board of Education]]
[[Category:Members of the Council on Foreign Relations]]
[[Category:Obama administration cabinet members]]
[[Category:People named in the Paradise Papers]]
[[Category:Philanthropists from Illinois]]
[[Category:Politicians from Chicago]]
[[Category:Pritzker family|Penny]]
[[Category:Jewish American members of the Cabinet of the United States]]
[[Category:Stanford Graduate School of Business alumni]]
[[Category:Stanford Law School alumni]]
[[Category:Stanford University trustees]]
[[Category:United States Secretaries of Commerce]]
[[Category:Women hoteliers]]
[[Category:Women members of the Cabinet of the United States]]' |
New page wikitext, after the edit (new_wikitext) | '{{Short description|American billionaire businesswoman (born 1959)}}
{{good article}}
{{Use mdy dates|date=February 2019}}
{{Infobox officeholder
| name = Penny Pritzker
| image = Penny Pritzker official portrait.jpg
| office = 38th [[United States Secretary of Commerce]]
| president = [[Barack Obama]]
| deputy = [[Patrick D. Gallagher]] (acting)<br>[[Bruce H. Andrews]]
| term_start = June 26, 2013
| term_end = January 20, 2017
| predecessor = [[John Bryson]]
| successor = [[Wilbur Ross]]
| party = [[Democratic Party (United States)|Democratic]]
| birth_name = Penny Sue Pritzker
| birth_date = {{birth date and age|1959|5|2}}
| birth_place = [[Chicago]], [[Illinois]], U.S.
| death_date =
| death_place =
| spouse = Bryan Traubert
| children = 2
| relatives = [[J. B. Pritzker]] (brother)<br>[[Anthony Pritzker]] (brother)<br>
See [[Pritzker family]]
| education = [[Harvard University]] (AB)<br>[[Stanford University]] (JD, MBA)
| parents = [[Donald Pritzker]] (father)
| Family =
}}
'''Penny Sue Pritzker''' (born May 2, 1959) is an American billionaire businesswoman and civic leader who served as the 38th [[United States Secretary of Commerce|United States secretary of commerce]] in the [[Presidency of Barack Obama|Obama administration]] from 2013 to 2017.<ref name="Easton, Nina, The fascinating life">{{Cite web|url=http://fortune.com/2014/06/02/fortune-500-pritzker/|title=The fascinating life of Penny Pritzker (so far)|last=Easton|first=Nina|date=June 2, 2014|website=Fortune|access-date=November 30, 2016 |url-status=live|archive-url=https://web.archive.org/web/20161208131705/http://fortune.com/2014/06/02/fortune-500-pritzker/ |archive-date=December 8, 2016}}</ref> She was confirmed by a Senate vote of 97–1.
Pritzker spent her early career in business. She worked her way up through the [[Pritzker family]] business, eventually being appointed as one of three successors to her uncle, [[Jay Pritzker]]. She is the founder of PSP Partners, PSP Capital Partners, and Pritzker Realty Group, and co-founder of Artemis Real Estate Partners and Inspired Capital. She is on the board of Microsoft, and chair of the Carnegie Endowment for International Peace. As of October 2021, ''[[Forbes]]'' estimated her net worth at US$3.2 billion.<ref name="forbes1">{{cite web|title=Penny Prtizker|url=https://www.forbes.com/profile/penny-pritzker/ |website=Forbes|url-status=live|access-date=September 28, 2020 |archive-url=https://web.archive.org/web/20161206014741/http://www.forbes.com/profile/penny-pritzker/|archive-date=December 6, 2016}}</ref> In 2009, Forbes named Pritzker one of the 100 most powerful women in the world.
Before entering government service, Pritzker had been involved in many Chicago organizations, including the [[Chicago Board of Education]], [[Museum of Contemporary Art, Chicago]], and her own foundation, the Pritzker Traubert Family Foundation. Pritzker was an early supporter of Obama's presidential candidacy, having been a friend of the Obama family since their time in Chicago.
She is the sister of [[J. B. Pritzker]], the current [[governor of Illinois]].
== Early life and education ==
Penny Pritzker was born in Chicago in 1959, the daughter of Sue (née Sandel)<ref>{{cite news |url=https://pqasb.pqarchiver.com/chicagotribune/access/627438772.html?dids=627438772:627438772&FMT=CITE&FMTS=CITE:AI&type=historic&date=May+08%2C+1982&author=&pub=Chicago+Tribune&desc=Mishap+kills+Sue+Pritzker%2C+widow+of+Hyatt+Hotel+founder%2C+at+age+49&pqatl=google |work=Chicago Tribune |title=Mishap kills Sue Pritzker, widow of Hyatt Hotel founder, at age 49 |date=May 8, 1982}}</ref> and [[Donald Pritzker]]. She is a member of the Pritzker family of Chicago, a wealthy and influential business family.<ref>{{cite news|title=Penny Pritzker, Jewish Hotel Heiress, Tapped for Commerce Job |url=http://forward.com/news/breaking-news/175841/penny-pritzker-jewish-hotel-heiress-tapped-for-com/|access-date=November 7, 2017 |work=[[The Forward]]|date=May 2, 2013|url-status=live |archive-url=https://web.archive.org/web/20170310121946/http://forward.com/news/breaking-news/175841/penny-pritzker-jewish-hotel-heiress-tapped-for-com/|archive-date=March 10, 2017}}</ref> Donald Pritzker was one of the co-founders of [[Hyatt]] Hotels. He moved the family to [[Atherton, California]], where business for the Hyatt Hotels began to grow.<ref>{{cite web|url=http://www.chicagomag.com/Chicago-Magazine/March-2014/power-jb-pritzker-profile/|title=J.B. Pritzker: The Other Mayor of Chicago|first=Bryan|last=Smith|website=Chicago magazine|access-date=February 21, 2019}}</ref> Penny has two younger brothers, [[Anthony Pritzker|Tony]] ({{abbr|b.|born}} 1961) and [[J. B. Pritzker]] ({{abbr|b.|born}} 1965), the incumbent [[Governor of Illinois]].<ref name="Easton, Nina, The fascinating life" />
Young Penny would accompany her father to the hotels and check the cleanliness of the ladies restrooms. In 1972, Don died suddenly of a heart attack when Penny was 13{{nbsp}}years old. Following Don's death, Sue began battling depression, requiring Penny to at times care for her mother and her younger brothers.<ref name="Easton, Nina, The fascinating life" /> At age 16, Penny wrote a letter to her grandfather, and head of the family business empire, [[Abram Nicholas Pritzker|A.]]{{nbsp}}[[Abram Nicholas Pritzker|N. Pritzker]], in which she asked why he talked business with the men in the family and not with her.<ref name="Davis, Julie Hirschfeld, Penny Pritzker Tackles">{{Cite news|url=https://www.nytimes.com/2015/10/09/business/penny-pritzker-tackles-tough-assignments-as-commerce-secretary.html|title=Penny Pritzker Tackles Tough Assignments as Commerce Secretary|last=Davis|first=Julie Hirschfeld|date=October 8, 2015|work=The New York Times|access-date=April 16, 2017|archive-url=https://web.archive.org/web/20161216202552/http://www.nytimes.com/2015/10/09/business/penny-pritzker-tackles-tough-assignments-as-commerce-secretary.html|archive-date=December 16, 2016|url-status=live|issn=0362-4331}}</ref> Finally realizing Penny's interest in business, A.{{nbsp}}N. provided her with a summer course in accounting.<ref name="Davis, Julie Hirschfeld, Penny Pritzker Tackles" />
Penny attended [[Castilleja School]] until 1977.<ref>{{cite web|last=DeBare|first=Ilana|title=Prominent Alumnae of Girls' Schools |website=Where Girls Come First|url=http://www.wheregirlscomefirst.com/alumnae.php|access-date=November 27, 2007 |archive-url=https://web.archive.org/web/20070710133643/http://www.wheregirlscomefirst.com/alumnae.php|archive-date=July 10, 2007}}</ref><ref name="PAW110905">{{cite news|url=http://www.paloaltoonline.com/weekly/morgue/2005/2005_11_09.gatown09.shtml|title=Around Town|newspaper=[[Palo Alto Weekly]]|date=November 9, 2005|access-date=May 2, 2013|url-status=live |archive-url=https://web.archive.org/web/20120212215601/http://www.paloaltoonline.com/weekly/morgue/2005/2005_11_09.gatown09.shtml|archive-date=February 12, 2012}}</ref> She graduated with a [[Bachelor of Arts]] in economics from [[Harvard College]] in 1981.<ref name="Lissner, Madeline W.">{{Cite web|url=http://w.thecrimson.com/article/2006/6/5/penny-pritzker-penny-s-pritzker-81/|title=Penny Pritzker|last=Madeline W.|first=Lissner|date=June 5, 2006|website=The Harvard Crimson|access-date=December 1, 2016}}</ref> The following year, Penny's mother died after falling out of the passenger side of a tow truck. Penny returned to school, earning both a [[Juris Doctor]] and an MBA from [[Stanford University]] in 1985.<ref name="Easton, Nina, The fascinating life" />
== Pritzker family businesses ==
=== Early ventures ===
After she earned her degrees, Pritzker joined the Pritzker organization encouraged by her cousin [[Nicholas J. Pritzker|Nick Pritzker]].<ref name="Easton, Nina, The fascinating life" /><ref>{{cite magazine|url=http://www.chicagomag.com/Chicago-Magazine/December-2002/Tremors-in-the-Empire/|title=Tremors in the Empire|last=Tritsch|first=Shane|date=June 1, 2007|magazine=[[Chicago (magazine)|Chicago]]|access-date=April 29, 2017|archive-url=https://web.archive.org/web/20160921163810/http://www.chicagomag.com/Chicago-Magazine/December-2002/Tremors-in-the-Empire/|archive-date=September 21, 2016|url-status=live}}</ref> In 1987, she founded Classic Residence by Hyatt, later renamed [[Vi Senior Living, Classic Residence|Vi]], upscale housing for seniors as an alternative to nursing homes.<ref name="Easton, Nina, The fascinating life" /><ref name=":7" /> The project struggled at first, losing $40{{nbsp}}million in the first 18{{nbsp}}months,<!--<ref name="Easton, Nina, The fascinating life" />--> but turned around after changes in marketing and management.<ref name="Easton, Nina, The fascinating life" /> In 1991, [[Jay Pritzker]], Penny's uncle and head of the Pritzker family businesses, named Penny as the director of the Pritzkers' non-hotel landholdings.<!--<ref name="Harris, Melissa, How a billionaire invests" />--> With that appointment, Penny created the Pritzker Realty Group, which developed apartment buildings, shopping centers, and the Baldwin Park neighborhood in [[Orlando, Florida]].<ref name="Harris, Melissa, How a billionaire invests">{{Cite news |url=http://www.chicagotribune.com/business/chi-inside-penny-pritzkers-portfolio-how-a-billionaire-invests-20130522-column.html |title=Inside Penny Pritzker's portfolio: How a billionaire invests|last1=Harris|first1=Melissa|date=May 19, 2013|work=Chicago Tribune |access-date=April 19, 2017|archive-url=https://web.archive.org/web/20170419195756/http://www.chicagotribune.com/business/chi-inside-penny-pritzkers-portfolio-how-a-billionaire-invests-20130522-column.html|archive-date=April 19, 2017|url-status=live|last2=MarksJarvis |first2=Gail|language=en-US}}</ref>
====Superior Bank====
From 1991 to 1994, Penny Pritzker was chairperson of the [[Hinsdale, Illinois]]-based [[Superior Bank of Chicago]], in which Jay Pritzker had purchased a 50% stake from the [[Federal Deposit Insurance Corporation]], who had taken over the bank when it failed<!--<ref name="wsj" />-->. In 1993 the bank "embarked on a business strategy of significant growth into subprime home mortgages", according to a report by the [[United States Treasury Department]].<ref name="wsj">{{cite news |url=https://www.wsj.com/articles/SB121660089138069207?mod=hps_us_editors_picks|title=A Top Obama Fund-Raiser Had Ties to Failed Bank |last=Emshwiller|first=John R.|date=July 21, 2008|newspaper=[[The Wall Street Journal]]|pages=A10|access-date=July 21, 2008 |url-status=live|archive-url=https://web.archive.org/web/20171107053509/https://www.wsj.com/articles/SB121660089138069207?mod=hps_us_editors_picks|archive-date=November 7, 2017}}</ref> In 2000 it became clear the bank was faltering. In the months leading up to 2001, the Pritzkers tried to work out a recapitalization plan.<ref name="wsj" /> In July 2001, the FDIC seized the bank after the recapitalization could not be resolved.<ref name="bw">{{cite news |url=http://www.businessweek.com/magazine/content/01_37/b3748102.htm?chan=search|title=The Pritzkers' Empire Trembles: Can a new generation halt the slide in the family's fortunes?|last=Weber|first=Joseph|date=September 10, 2001|work=Business Week|access-date=July 21, 2008|archive-url=https://web.archive.org/web/20080222012932/http://www.businessweek.com/magazine/content/01_37/b3748102.htm?chan=search|archive-date=February 22, 2008|publisher=BusinessWeek|author2=Woellert, Lorraine}}</ref><ref name="nyt">{{cite news|url=https://query.nytimes.com/gst/fullpage.html?res=9C05E4D71E3CF934A3575BC0A9679C8B63&sec=&spon=&pagewanted=1|title=A Partnership Frays After An S.& L. Fails; In Laying Blame, Trying to Sort Out One Deal Maker's Complicated Legacy|last=Barboza |first=David|date=August 7, 2001|newspaper=[[The New York Times]]|access-date=July 21, 2008}}</ref><ref name="trib">{{cite news |url=http://www.accessmylibrary.com/coms2/summary_0286-8324820_ITM|title=Regulators close Chicago-area bank |last=Allison |first=Melissa |author2=Neikirk, William |date=July 27, 2001|newspaper=[[The Chicago Tribune]]|access-date=July 21, 2008}}</ref> Subsequently, the Pritzker family reached an agreement with regulators to pay $460{{nbsp}}million.<ref name="wsj" /><ref>{{cite news |url=http://www.accessmylibrary.com/coms2/summary_0286-6244055_ITM |work=Knight Ridder/Tribune Business News |title=Judge rules family, others cannot be sued concerning Superior Bank's collapse |date=September 28, 2004}}</ref><ref name="ITT">David Mobert, [http://www.inthesetimes.com/article/671/ Breaking the Bank] {{webarchive|url=https://web.archive.org/web/20080719162517/http://www.inthesetimes.com/article/671/ |date=July 19, 2008 }}, ''[[In These Times]]'' November 8, 2002</ref><ref name="circuit7">[http://bulk.resource.org/courts.gov/c/F3/485/485.F3d.942.05-3651.05-3642.05-3500.05-1244.html John W. Courtney et al. v. Neal T. Halleren et al. (485 F.3d 942)] {{webarchive|url=https://web.archive.org/web/20100517215612/http://bulk.resource.org/courts.gov/c/F3/485/485.F3d.942.05-3651.05-3642.05-3500.05-1244.html |date=May 17, 2010 }}. Bulk.resource.org. Retrieved on December 4, 2011.</ref>
According to the FDIC, by 2011 the uninsured depositors of Superior had each received 81% of their uninsured monies, in addition to the $100,000 each previously received of their insured amount.<ref>{{cite web|title=Federal Deposit Insurance Corporation |url=http://www.fdic.gov/bank/individual/failed/superior.html|website=Failed Bank Information|url-status=live |archive-url=https://web.archive.org/web/20121202004943/http://www.fdic.gov/bank/individual/failed/superior.html|archive-date=December 2, 2012}}</ref> Industry experts have criticized the Pritzkers in regard to Superior.<ref name="Sun-Times">{{cite news |url=http://www.suntimes.com/news/politics/obama/919177,CST-NWS-pritz28.article|title=Obama's subprime pal|last=Pallasch|first=Abdon M.|date=April 28, 2008|work=Chicago Sun-Times|access-date=November 6, 2017|archive-url=https://web.archive.org/web/20081102222349/http://www.suntimes.com/news/politics/obama/919177,CST-NWS-pritz28.article|archive-date=November 2, 2008}}</ref> Consumer advocates and government investigators asserted Superior "engaged in unsound financial activities and predatory lending practices".<ref name=wsj/> Responding to the ''[[Wall Street Journal]]'', Pritzker noted she had no ownership in the bank, either direct or indirect, and that the bank's reasons for failure "were complex, including changes in accounting practices, auditing failures, reversals in regulatory positions and general economic conditions".<ref name=wsj/> She said the bank complied with "fair lending laws" and ethical business practices.<ref name=wsj/> A 2001 ''[[Business Week]]'' article described the bank's other owner, [[Alvin Dworman]], as the more dominant partner in its operation as a result of agreements made by Jay Pritzker.<ref name=bw/> Quoted in the ''[[New York Times]]'', a Pritzker family friend observed Pritzker was trapped in a deal of her uncle's making: "Penny got sucked into this…this was really the legacy of Jay."<ref name="nyt"/>
=== Leadership and dissolution ===
In 1995, Penny was named as one of three successors to the retiring Jay Pritzker besides his son [[Thomas Pritzker|Tom]] and his cousin Nick.<ref name="Sachdev, Ameet, Pritzker realty sells" /> Tom was named the official head of the businesses, Nick and Penny each named vice-chairman.<ref name=":7">{{Cite magazine|url=http://www.vanityfair.com/news/2003/05/andrews200305|title=Shattered Dynasty |last=Andrews|first=Suzanna|date=May 2003|magazine=Vanity Fair|access-date=April 29, 2017|archive-url=https://web.archive.org/web/20170222055838/http://www.vanityfair.com/news/2003/05/andrews200305|archive-date=February 22, 2017|url-status=live}}</ref> Together, the three were to oversee the Pritzker family assets.<ref name=":7" /><ref name="Sachdev, Ameet, Pritzker realty sells" /> Jay intended to keep the family business together, devising a system of trusts that would allow individual family members to receive money from the trusts to meet their needs; however, the family's wealth was to be primarily maintained in the trusts to grow the businesses and fund philanthropic endeavors. The Pritzker business empire contained over 200 businesses and was valued at $15{{nbsp}}billion.<ref name=":7" />
After Jay Pritzker's death in 1999, other Pritzker family members challenged Tom, Nick, and Penny's control of the businesses in multiple lawsuits.<ref name="Easton, Nina, The fascinating life" /><ref>[http://www.economist.com/node/184547 The Economist: "Jay Pritzker, pioneer of the modern hotel chain, died on January 23rd, aged 76"] {{webarchive|url=https://web.archive.org/web/20130703045039/http://www.economist.com/node/184547 |date=July 3, 2013}} January 28, 1999.</ref> Penny's brothers joined in one of the lawsuits. In 2001 Tom, Nick, and Penny decided to sell family assets to allow eleven cousins to receive a share, dissolving the family's business ties. Disentangling the family's business interests took nearly a decade.<ref name="Easton, Nina, The fascinating life" /> The family sold its controlling stake in the [[Marmon Group]] to [[Berkshire Hathaway]] for $4.5{{nbsp}}billion in 2008.<ref name="forbes1" /> The Pritzker Realty Group sold Parking Spot, an airport parking management business Penny co-founded in 1998,<ref>{{cite web|url=http://www.penny-pritzker.com/penny-pritzker-biography.html |title=Penny S. Pritzker – Biography|year=2008|website=Penny Pritzker – Official website |author=Staff |access-date=November 19, 2008|url-status=dead |archive-url=https://web.archive.org/web/20081022145107/http://www.penny-pritzker.com/penny-pritzker-biography.html |archive-date=October 22, 2008}}</ref> to Green Courte Partners LLC for $360{{nbsp}}million in 2011.<ref name="Sachdev, Ameet, Pritzker realty sells">{{Cite news|url=http://articles.chicagotribune.com/2011-12-09/business/chi-pritzker-realty-sells-parking-lot-chain-to-private-equity-firm-20111209_1_pritzker-realty-group-tom-pritzker-valet-service|title=Pritzker Realty sells parking lot chain to private equity firm|last1=Sachdev|first1=Ameet|date=December 9, 2011|work=tribunedigital-chicagotribune|access-date=April 2, 2017|archive-url=https://web.archive.org/web/20160701134519/http://articles.chicagotribune.com/2011-12-09/business/chi-pritzker-realty-sells-parking-lot-chain-to-private-equity-firm-20111209_1_pritzker-realty-group-tom-pritzker-valet-service|archive-date=July 1, 2016|url-status=live|last2=Harris|first2=Melissa}}</ref>
Starting in 2005, she served as non-executive chairman of [[TransUnion]].<ref>[https://www.sec.gov/Archives/edgar/data/1513512/000119312511072512/d424b3.htm Prospectus] {{webarchive|url=https://web.archive.org/web/20150924134225/http://www.sec.gov/Archives/edgar/data/1513512/000119312511072512/d424b3.htm |date=September 24, 2015 }}. Sec.gov. Retrieved on August 12, 2013.</ref> In 2009, she co-founded Artemis Real Estate Partners LLC, a real estate investment management company, with Deborah Harmon.<ref>{{Cite news |url=http://www.chicagobusiness.com/realestate/20120111/CRED03/120119932/penny-pritzkers-artemis-raises-736-million-for-real-estate-investments|title=Penny Pritzker's Artemis raises $736 million for real estate investments|last=Gallun|first=Alby|date=January 11, 2012|work=Crain's Chicago Business|access-date=April 19, 2017}}</ref> In 2011, she founded an investment office, PSP Capital Partners.<ref name="Harris, Melissa, How a billionaire invests" /><ref>{{Cite web|url=http://www.pspcapital.com|title=PSP Capital Partners, LLC |archive-url=https://web.archive.org/web/20170429014542/http://www.pspcapital.com/|archive-date=April 29, 2017|url-status=live|access-date=April 12, 2017}}</ref> Altogether, Pritzker started five companies before joining the federal government.<ref name="Davis, Julie Hirschfeld, Penny Pritzker Tackles" />
== Government and political involvement ==
Pritzker's friendship with [[Barack Obama]] and his family dates back to the 1990s when he was a professor at the University of Chicago.<ref name="Easton, Nina, The fascinating life" /> Pritzker met Obama at a Chicago YMCA where her son participated in a basketball program coached by Obama's brother-in-law [[Craig Robinson (basketball)|Craig Robinson]].<ref name="Davis, Julie Hirschfeld, Penny Pritzker Tackles" /><ref>{{Cite news|url=https://www.theatlantic.com/politics/archive/2013/05/obamas-new-commerce-secretary-a-billionaire-chicago-hotel-magnate/275500/|title=Obama's New Commerce Secretary: A Billionaire Chicago Hotel Magnate |last=Vasilogambros|first=Matt|date=May 2, 2013|work=The Atlantic|access-date=April 16, 2017|archive-url=https://web.archive.org/web/20170417154954/https://www.theatlantic.com/politics/archive/2013/05/obamas-new-commerce-secretary-a-billionaire-chicago-hotel-magnate/275500/|archive-date=April 17, 2017|url-status=live}}</ref> Obama and his family were frequent guests at Pritzker's [[Lake Michigan]] vacation home.<ref name="Easton, Nina, The fascinating life" /><ref name="Kantor, Jodi, Pritzker had big role">{{Cite news|url=https://www.nytimes.com/2012/07/15/us/politics/penny-pritzker-had-big-role-in-obama-08-but-is-backstage-in-12.html|title=Penny Pritzker Had Big Role in Obama '08 but Is Backstage in '12|last1=Kantor|first1=Jodi|date=July 15, 2012|work=The New York Times|access-date=May 26, 2017|archive-url=https://web.archive.org/web/20170531102739/http://www.nytimes.com/2012/07/15/us/politics/penny-pritzker-had-big-role-in-obama-08-but-is-backstage-in-12.html|archive-date=May 31, 2017|url-status=live|last2=Confessore|first2=Nicholas|issn=0362-4331}}</ref>
Pritzker was an early supporter of Obama's political career, helping to finance his 2004 Senate campaign.<!--<ref name="Kantor, Jodi, Pritzker had big role" />--> Early in the Democratic presidential primary, Pritzker's financing helped Obama's candidacy survive when Obama was trailing [[Hillary Clinton]] in the polls.<ref name="Kantor, Jodi, Pritzker had big role" /> Pritzker remained a major fundraiser for Obama during the 2008 Democratic primary and raised millions overall for his White House bid.<ref name="Easton, Nina, The fascinating life" /> She served as the national finance chair of [[Barack Obama 2008 presidential campaign|Obama's 2008 presidential campaign]].<ref name="Kornblut, Anne E., Obama's Campaign">{{cite news|url=https://www.washingtonpost.com/wp-dyn/content/article/2007/04/04/AR2007040400989.html|title=Obama's Campaign Takes In $25 Million,He Nearly Matches Clinton, With Twice as Many Donors|date=April 5, 2008|newspaper=[[Washington Post]]|format=printable|author1=Anne E. Kornblut|author2=Matthew Mosk |name-list-style=amp|access-date=September 24, 2008|url-status=live |archive-url=https://web.archive.org/web/20080725153946/http://www.washingtonpost.com/wp-dyn/content/article/2007/04/04/AR2007040400989.html|archive-date=July 25, 2008}}</ref> Under her direction, the campaign reached out to small donors. Pritzker also hosted more lavish fundraisers as part of her effort to raise money.<ref>{{cite news |url=https://www.nytimes.com/2008/07/03/us/politics/03donate.html?n=Top/Reference/Times%20Topics/Subjects/U/United%20States%20Politics%20and%20Government|title=Obama Picks Up Fund-Raising Pace |date=July 3, 2008|newspaper=Washington Post|author1=Michael Luo|author2=Christopher Drew|name-list-style=amp|url-status=live|access-date=February 12, 2013|archive-url=https://web.archive.org/web/20130501054149/http://www.nytimes.com/2008/07/03/us/politics/03donate.html?n=Top%2FReference%2FTimes%20Topics%2FSubjects%2FU%2FUnited%20States%20Politics%20and%20Government|archive-date=May 1, 2013}}</ref>
Following Obama's victory in the [[2008 United States presidential election|2008 presidential election]], [[CNN]] reported that Pritzker was president-elect Obama's top choice for [[United States Secretary of Commerce|Commerce Secretary]].<ref>{{cite news |title=Sources: Pritzker, Napolitano being vetted for Cabinet |url=http://www.cnn.com/2008/POLITICS/11/20/transition.wrap/index.html?iref=newssearch |date=November 20, 2008 |access-date=November 20, 2008 |work=CNN |url-status=live |archive-url=https://web.archive.org/web/20121105051705/http://www.cnn.com/2008/POLITICS/11/20/transition.wrap/index.html?iref=newssearch |archive-date=November 5, 2012 }}</ref> However, Pritzker took herself out of the running.<ref>{{cite web |url=http://www.politico.com/news/stories/1108/15827.html |title=Pritzker turns down Commerce |website=[[Politico (newspaper)|Politico]] |last=Allen |first=Mike |date=November 20, 2008 |url-status=live |access-date=February 12, 2013 |archive-url=https://web.archive.org/web/20120908125210/http://www.politico.com/news/stories/1108/15827.html |archive-date=September 8, 2012 }}</ref><ref>{{cite news |url=http://www.cnn.com/2008/POLITICS/11/20/transition.wrap/index.html |format=printable |title=Pritzker not a candidate for commerce secretary |work=[[CNN]] |author=Gloria Borger, Jason Carrol, Ed Henry, Jamie McIntyre, John King, Ed Hornick, Don Lemon, Jessica Yellin |date=November 20, 2008 |url-status=live |access-date=February 12, 2013 |archive-url=https://web.archive.org/web/20130307191050/http://www.cnn.com/2008/POLITICS/11/20/transition.wrap/index.html |archive-date=March 7, 2013 }}</ref><ref>{{cite news |url=http://thecaucus.blogs.nytimes.com/2008/11/20/pritzker-withdraws-from-cabinet-consideration/ |work=The New York Times |title=Pritzker Withdraws From Cabinet Consideration |first=Brian |last=Knowlton |date=November 20, 2008 |access-date=May 22, 2010 |url-status=live |archive-url=https://web.archive.org/web/20101115165732/http://thecaucus.blogs.nytimes.com/2008/11/20/pritzker-withdraws-from-cabinet-consideration/ |archive-date=November 15, 2010 }}</ref> According to the ''[[Chicago Tribune]]'', she withdrew her name from consideration "due to obligations to her family, for whom she was still overseeing billions in assets, and the financial crisis, which was putting some of those assets at risk".<ref>{{Cite news|url=http://articles.chicagotribune.com/2013-03-03/business/ct-biz-0303-confidential-penny-pritzker-20130303_1_penny-pritzker-commerce-secretary-fundraiser|title=Penny Pritzker U.S. commerce secretary |last=Harris|first=Melissa|date=March 3, 2013|newspaper=Chicago Tribune|access-date=December 2, 2016|url-status=live |archive-url=https://web.archive.org/web/20161202172330/http://articles.chicagotribune.com/2013-03-03/business/ct-biz-0303-confidential-penny-pritzker-20130303_1_penny-pritzker-commerce-secretary-fundraiser|archive-date=December 2, 2016}}</ref> As a result of her public support for President Obama, Pritzker found herself the target of labor groups for Hyatt Hotels' practices.<!--<ref name="Kantor, Jodi, Pritzker had big role" />--> The president of [[UNITE HERE|Unite Here]] cited her connection to Obama as a reason why the group expected her to use better labor practices as the group staged demonstrations against Pritzker.<ref name="Kantor, Jodi, Pritzker had big role" />
Pritzker was a member of the [[President's Council on Jobs and Competitiveness]]. She also served on the President's Economic Recovery Advisory Board. Although she was less active in the 2012 Obama campaign than she had been four years prior,<ref name="Kantor, Jodi, Pritzker had big role" /> she served as national co-chair of Obama for America 2012.<ref name="Kornblut, Anne E., Obama's Campaign" /> She was also on the board of directors of the [[Council on Foreign Relations]],<ref>{{Cite web|url=http://www.penny-pritzker.com/penny-pritzker-biography.html |title=Penny S. Pritzker - Biography|date=October 31, 2011 |website=www.penny-pritzker.com |access-date=December 2, 2016 |url-status=dead|archive-url=https://web.archive.org/web/20111031012750/http://www.penny-pritzker.com/penny-pritzker-biography.html |archive-date=October 31, 2011}}</ref><ref>{{Cite web |url=https://www.congress.gov/113/chrg/shrg94056/CHRG-113shrg94056.htm|title=Nomination of Penny Pritzker To Be Secretary of the U.S. Department of Commerce|date=May 23, 2013|publisher=United States Government Publishing Office|archive-url=https://web.archive.org/web/20170419002810/https://www.congress.gov/113/chrg/shrg94056/CHRG-113shrg94056.htm|archive-date=April 19, 2017|url-status=live|access-date=April 18, 2017}}</ref> a nonpartisan think tank focused on world affairs and U.S. foreign policy.
==Secretary of Commerce==
[[File:P050213CK-0051 (9097384658).jpg|thumb|right|Pritzker with President Barack Obama and [[Mike Froman]] in the Oval Office, May 2,{{nbsp}}2013]]
[[File:Secretary Pritzker Addresses International Media in Tokyo - Flickr - East Asia and Pacific Media Hub (2).jpg|thumb|Secretary Pritzker addresses international media in Tokyo, October 21,{{nbsp}}2014]]
Pritzker was nominated as [[United States Secretary of Commerce]] by [[President of the United States|President]] [[Barack Obama]] on May 2, 2013.<ref name="commerce">[[Lynn Sweet|Sweet, Lynn]] (May 2, 2013) [http://www.suntimes.com/news/metro/19845352-418/obama-to-nominate-chicago-exec-penny-pritzker-as-commerce-secretary-thursday.html "Obama nominates Chicago exec Penny Pritzker as commerce secretary"] {{webarchive|url=https://web.archive.org/web/20130618075224/http://www.suntimes.com/news/metro/19845352-418/obama-to-nominate-chicago-exec-penny-pritzker-as-commerce-secretary-thursday.html |date=June 18, 2013 }}, ''[[Chicago Sun-Times]]''. Retrieved May 2, 2013.</ref><ref>{{cite news|last1=Calmes|first1=Jackie|title=Obama Picks Nominees for Commerce Dept. and Trade Representative|url=https://www.nytimes.com/2013/05/03/us/politics/obama-to-nominate-pritzker-for-commerce-post.html |access-date=November 7, 2017|work=The New York Times|date=May 2, 2013|url-status=live |archive-url=https://web.archive.org/web/20171024092628/http://www.nytimes.com/2013/05/03/us/politics/obama-to-nominate-pritzker-for-commerce-post.html|archive-date=October 24, 2017}}</ref> To avoid conflicts of interest, Pritzker agreed to sell her interest in at least 221 companies and resign from 158 entities, including the Hyatt Board of Directors and the [[Chicago Board of Education]].{{efn|In November 2017, the [[International Consortium of Investigative Journalists|International Consortium of Investigative Journalism]] released the "[[Paradise Papers]]," documents related to offshore services and tax havens, and alleged that Pritzker transferred her shares of two of her holdings to her children rather than selling them, as she had indicated on ethics forms.<ref>{{Cite news|url=https://www.icij.org/investigations/paradise-papers/explore-politicians-paradise-papers/|title=Explore The Politicians in the Paradise Papers - ICIJ|work=ICIJ|access-date=December 6, 2017|language=en-US}}</ref><ref name="Au-Yeung, Angel, Former Secretary">{{cite news|last1=Au-Yeung|first1=Angel|title=Former Secretary of Commerce And Hyatt Hotels Heir Penny Pritzker Identified In Paradise Papers|url=https://www.forbes.com/sites/angelauyeung/2017/11/05/former-secretary-of-commerce-and-hyatt-hotels-heir-penny-pritzker-identified-in-paradise-papers/#5c9e28102618|access-date=December 7, 2017|publisher=Forbs|date=November 5, 2017}}</ref> Pritzker responded with a statement saying that she had complied with the rules and regulations of the Office of Government Ethics regarding her holdings and divestitures.<ref name="Au-Yeung, Angel, Former Secretary" />}}<ref>{{Cite news |url=https://www.theatlantic.com/business/archive/2017/01/trumps-appointees-conflicts-of-interest-a-crib-sheet/512711/|title=The Trump Administration's Conflicts of Interest: A Crib Sheet|last=Venook|first=Jeremy|date=January 18, 2017|work=The Atlantic|access-date=April 14, 2017|archive-url=https://web.archive.org/web/20170415202626/https://www.theatlantic.com/business/archive/2017/01/trumps-appointees-conflicts-of-interest-a-crib-sheet/512711/|archive-date=April 15, 2017|url-status=live|language=en-US}}</ref><ref>{{Cite news |url=http://articles.chicagotribune.com/2013-05-02/news/chi-penny-pritzker-commerce-secretary-20130502_1_psp-capital-partners-penny-pritzker-commerce-secretary/2|title=Penny Pritzker to be nominated for Commerce secretary|last1=Parsons|first1=Christi|date=May 2, 2013 |work=Chicago Tribune|access-date=April 14, 2017|archive-url=https://web.archive.org/web/20170415103916/http://articles.chicagotribune.com/2013-05-02/news/chi-penny-pritzker-commerce-secretary-20130502_1_psp-capital-partners-penny-pritzker-commerce-secretary/2|archive-date=April 15, 2017|url-status=live|last2=Harris |first2=Melissa|language=en|last3=Skiba|first3=Katherine}}</ref><ref>{{Cite news |url=https://www.bloomberg.com/news/articles/2013-05-20/pritzker-yields-party-role-reversal-on-offshore-trusts|title=Pritzker Yields Party Role Reversal on Offshore Trusts|last=Litvan|first=Laura|date=May 20, 2013|work=Bloomberg.com|access-date=April 15, 2017 |archive-url=https://web.archive.org/web/20170416125435/https://www.bloomberg.com/news/articles/2013-05-20/pritzker-yields-party-role-reversal-on-offshore-trusts|archive-date=April 16, 2017|url-status=live}}</ref> Later that month, on May 23, the Senate held its confirmation hearing, which covered a variety of topics. Although Pritzker's family business dealings had been a target of Republican criticism when Obama announced her nomination, only three questions at the hearing related to her family.<ref>{{Cite news |url=http://www.politico.com/story/2013/05/penny-pritzker-confirmation-hearing-091822|title=Pritzker likely on confirmation path |last=Parti|first=Tarini|date=May 23, 2013|work=Politico|access-date=December 2, 2016|url-status=live |archive-url=https://web.archive.org/web/20161202171829/http://www.politico.com/story/2013/05/penny-pritzker-confirmation-hearing-091822|archive-date=December 2, 2016}}</ref> Pritzker was confirmed by the full Senate on June 25, by a vote of 97 to 1.{{efn|Senator [[Bernie Sanders]], an Independent caucusing with the Democrats, was the lone vote against Pritzker's confirmation.<ref name="Politico" />}}<ref name="Politico">[http://www.politico.com/story/2013/06/penny-pritzker-confirmed-commerce-secretary-93350.html?hp=l7 Penny Pritzker confirmed as Commerce secretary – Dan Berman] {{webarchive|url=https://web.archive.org/web/20130628234337/http://www.politico.com/story/2013/06/penny-pritzker-confirmed-commerce-secretary-93350.html?hp=l7 |date=June 28, 2013 }}. ''Politico'' (June 26, 2013). Retrieved on August 12, 2013.</ref> Pritzker was sworn in as Secretary on June 26, 2013.<ref>{{Cite news|url=http://www.nbcchicago.com/blogs/ward-room/Pritzker-Commerce-Secretary-213152011.html|title=Pritzker Takes Oath as Commerce Secretary|date=June 26, 2013|work=NBC Chicago|access-date=April 2, 2017 |archive-url=https://web.archive.org/web/20170402170154/http://www.nbcchicago.com/blogs/ward-room/Pritzker-Commerce-Secretary-213152011.html|archive-date=April 2, 2017|url-status=live}}</ref>
Among Pritzker's priorities was the [[Trans-Pacific Partnership]] (TPP), a proposed trade agreement that would have been the "largest regional trade agreement in history".<ref name="Hirschfeld, Julie Tackles Tough Assignments">{{Cite news |url=https://www.nytimes.com/2015/10/09/business/penny-pritzker-tackles-tough-assignments-as-commerce-secretary.html|title=Penny Pritzker Tackles Tough Assignments as Commerce Secretary|last=Davis|first=Julie Hirschfeld|date=October 8, 2015|work=The New York Times |access-date=April 16, 2017|issn=0362-4331|url-status=live |archive-url=https://web.archive.org/web/20161216202552/http://www.nytimes.com/2015/10/09/business/penny-pritzker-tackles-tough-assignments-as-commerce-secretary.html|archive-date=December 16, 2016}}</ref> Pritzker supported the TPP as a way to provide market access to U.S. businesses and as a way for the U.S. to set the standards for trade.<ref name="Hirschfeld, Julie Tackles Tough Assignments" /> Leading up the [[2016 United States presidential election|2016 presidential election]], in which both major party candidates openly opposed the TPP, Pritzker and other Obama officials continued to push for the TPP's passage in Congress.<ref>{{Cite news|url=http://thehill.com/policy/finance/298633-obama-administration-officials-push-for-pacific-pact|title=Obama administration officials ramp up push for Pacific pact|last=Needham|first=Vicki|date=September 29, 2016|work=TheHill|access-date=June 4, 2016 |archive-url=https://web.archive.org/web/20161002051040/http://thehill.com/policy/finance/298633-obama-administration-officials-push-for-pacific-pact|archive-date=October 2, 2016|url-status=live}}</ref> Ultimately, Congress failed to pass the TPP bill.<ref name="Primack, Dan, Pritzker talks post-government">{{Cite news|url=https://www.axios.com/penny-pritzker-talks-post-government-life-ai-and-airbnb-2422165574.html|title=Penny Pritzker talks post-government life, AI and Airbnb|last=Primack|first=Dan|date=May 26, 2017|work=Axios|access-date=May 27, 2017|archive-url=https://web.archive.org/web/20170526131646/https://www.axios.com/penny-pritzker-talks-post-government-life-ai-and-airbnb-2422165574.html|archive-date=May 26, 2017|url-status=live}}</ref>
Pritzker named a Digital Economy Board of Advisors, which included tech industry CEOs and academics, to advise on policy.<!--<ref name="BNA Tech Frets" />--> Pritzker also expanded the IP attache program, which helps the tech industry protect their intellectual property abroad.<ref name="BNA Tech Frets">{{Cite web|url=https://www.bna.com/tech-frets-trump-n73014448443/|title=Tech Frets About Trump Commerce Department's Digital Stance|publisher=[[Bloomberg BNA]]|archive-url=https://web.archive.org/web/20170419200427/https://www.bna.com/tech-frets-trump-n73014448443/|archive-date=April 19, 2017|url-status=live|access-date=April 15, 2017}}</ref> As secretary, Pritzker also created the Commerce Data Advisory Council to identify priorities for the Department of Commerce, a prolific publisher of data intended to allow businesses to plan and innovate.<ref>{{Cite web|url=https://techcrunch.com/2016/03/02/talking-innovation-in-a-data-enabled-economy-with-secretary-penny-pritzker/|title=Talking innovation in a data-enabled economy with Secretary Penny Pritzker {{!}} TechCrunch|last=Collins|first=Shelly Kapoor|date=March 2, 2016|website=Tech Crunch|archive-url=https://web.archive.org/web/20160607195138/http://techcrunch.com/2016/03/02/talking-innovation-in-a-data-enabled-economy-with-secretary-penny-pritzker/|archive-date=June 7, 2016|url-status=live|access-date=June 10, 2017}}</ref> Pritzker served as the lead negotiator for the United States in the E.U.–U.S. Privacy Shield, an agreement governing how companies transfer digital data from Europe to the United States.<ref>{{Cite news |url=https://www.nytimes.com/2016/03/09/technology/penny-pritzker-on-the-privacy-shield-pact-with-europe.html|title=Penny Pritzker on the Privacy Shield Pact With Europe|last=Scott|first=Mark|date=March 8, 2016|work=The New York Times|access-date=April 15, 2017|archive-url=https://web.archive.org/web/20160722074426/http://www.nytimes.com/2016/03/09/technology/penny-pritzker-on-the-privacy-shield-pact-with-europe.html|archive-date=July 22, 2016|url-status=live|issn=0362-4331}}</ref>
Following President Obama's announcement that the [[Cuban Thaw|United States would move towards normalizing relations with Cuba]], Pritzker traveled to [[Cuba]].<ref name="Oppman, Patrick, wraps Cuba trip">{{Cite web|url=http://www.cnn.com/2015/10/07/politics/penny-pritzker-cuba-obama-commerce/index.html|title=Penny Pritzker, secretary of commerce, wraps Cuba trip|last=Oppmann|first=Patrick|date=October 7, 2015|website=CNN|archive-url=https://web.archive.org/web/20170423155201/http://www.cnn.com/2015/10/07/politics/penny-pritzker-cuba-obama-commerce/index.html|archive-date=April 23, 2017|url-status=live|access-date=April 22, 2017}}</ref> Although Obama's change in policy did not end the [[United States embargo against Cuba|U.S. trade embargo]], since ending the embargo required an act of Congress, Pritzker met with Cuban trade ministers and other officials to discuss the changing relationship between the two countries and to lay the groundwork for more economic involvement.<ref name="Oppman, Patrick, wraps Cuba trip" /><ref>{{Cite news|url=https://www.bbc.com/news/world-latin-america-34461415|title=US Commerce Secretary Pritzker in Cuba for embargo talks|date=October 16, 2015|work=BBC News|access-date=April 22, 2017|archive-url=https://web.archive.org/web/20170423153230/http://www.bbc.com/news/world-latin-america-34461415|archive-date=April 23, 2017|url-status=live|language=en-GB}}</ref>
Following her tenure as Secretary, Pritzker returned to PSP and the private sector.<ref name="Primack, Dan, Pritzker talks post-government" />
== Civic and philanthropic activities ==
Pritzker is involved in public education. She was a member of the Chicago Board of Education and is past chair of the Chicago Public Education Fund.<ref>{{Cite news|url=http://thefundchicago.org/the-chicago-public-education-fund-announces-new-chairman-transition-plan/|title=The Chicago Public Education Fund Announces new Chairman, transition plan - Chicago Public Education Fund|date=May 25, 2011|work=Chicago Public Education Fund|access-date=April 23, 2017|archive-url=https://web.archive.org/web/20170423152237/http://thefundchicago.org/the-chicago-public-education-fund-announces-new-chairman-transition-plan/|archive-date=April 23, 2017|url-status=live|language=en-US}}</ref> Pritzker was elected to a six-year term on the [[Harvard Board of Overseers]] in 2002.<ref name="Lissner, Madeline W." /> In 2018, she was elected to the [[President and Fellows of Harvard College]], which oversees [[Harvard University]].<ref name="Harvard Magazine">{{Cite web|url=https://www.harvardmagazine.com/2018/05/harvard-new-corporation-members-overseer-leaders|title=Harvard's Governing Boards Refreshed|date=May 23, 2018|website=Harvard Magazine|access-date=May 29, 2018}}</ref> Pritzker was Advisory Board Chair of Skills for America's Future (SAF), a policy initiative of the [[Aspen Institute]].<ref>{{cite web|title=The Aspen Institute|url=http://www.aspeninstitute.org/policy-work/economic-opportunities/skills-americas-future/our-people |url-status=dead |archive-url=https://web.archive.org/web/20120325025003/http://www.aspeninstitute.org/policy-work/economic-opportunities/skills-americas-future/our-people |archive-date=March 25, 2012 |access-date=December 2, 2016}}</ref> Pritzker is a former chair of the [[Museum of Contemporary Art, Chicago]].<ref>{{Cite web|url=http://www.artnews.com/top200/penny-pritzker-and-bryan-traubert/|title=Penny Pritzker and Bryan Traubert|website=ARTnews|language=en-US|archive-url=https://web.archive.org/web/20161231211536/http://www.artnews.com/top200/penny-pritzker-and-bryan-traubert/|archive-date=December 31, 2016|url-status=live|access-date=April 23, 2017}}</ref>
Pritzker and her husband, Bryan Traubert, have their own foundation called the Pritzker Traubert Family Foundation. The foundation focuses on physical activity for young people and increasing economic opportunity in Chicago.<ref name="Goffredo, Kedra">{{Cite news|url=http://www.triathlete.com/2015/03/features/u-s-commerce-secretary-pritzkers-passion-triathlon_112251|title=U.S. Commerce Secretary Pritzker's Passion For Triathlon|last=Goffredo|first=Kendra|date=March 26, 2015|work=Triathlete.com|access-date=April 23, 2017|archive-url=https://web.archive.org/web/20170424174215/http://www.triathlete.com/2015/03/features/u-s-commerce-secretary-pritzkers-passion-triathlon_112251|archive-date=April 24, 2017|url-status=live|language=en-US}}</ref> Among their initiatives were a $5{{nbsp}}million donation to converting grass soccer fields to easier-to-maintain turf and a $1{{nbsp}}million donation to repair tennis courts around Chicago.<ref>{{Cite news|url=http://chicago.suntimes.com/news/kapos-tennis-courts-get-1m-in-pritzker-love/|title=Kapos: Tennis courts get $1M in Pritzker love|date=January 22, 2017|work=Chicago Sun-Times|access-date=April 23, 2017|archive-url=https://web.archive.org/web/20170205191023/http://chicago.suntimes.com/news/kapos-tennis-courts-get-1m-in-pritzker-love/|archive-date=February 5, 2017|url-status=live|language=en}}</ref> The Pritzkers also established ChicagoRun, a program that prepares Chicago-area children to run their first [[5k race]].<ref name="Goffredo, Kedra" />
In 2012 ''[[Chicago (magazine)|Chicago]]'' magazine named her one of the 100 most powerful Chicagoans.<ref>{{cite news|url=http://www.Chicagomag.com/Chicago-magazine/march-2012/100-most-powerful-Chicagoans|title=100 Most Powerful Chicagoans|last=Bailey, Berstein, Burke, Colburn|date=March 2012|newspaper=Chicago Magazine|access-date=November 6, 2017|archive-url=https://web.archive.org/web/20120427101539/http://www.chicagomag.com/Chicago-Magazine/March-2012/100-Most-Powerful-Chicagoans-Penny-Pritzker/|archive-date=April 27, 2012|url-status=dead|display-authors=etal}}</ref> On March 26, 2014, ''[[Elle (magazine)|Elle]]'' honored Pritzker, with others, at the Italian Embassy in the United States during its annual "Women in Washington Power List".<ref name="Gucci and Elle Honor Women in Washington Power List">{{cite web | url=http://www.wwd.com/eye/parties/gucci-and-elle-honor-women-in-washington-power-list-7617841?src=nl/wkEye/20140328 | title=Gucci and Elle Honor Women in Washington Power List | publisher=WWD | date=March 26, 2014 | access-date=March 28, 2014 | author=Watters, Susan | url-status=live | archive-url=https://web.archive.org/web/20140411092134/http://www.wwd.com/eye/parties/gucci-and-elle-honor-women-in-washington-power-list-7617841?src=nl%2FwkEye%2F20140328 | archive-date=April 11, 2014 | df=mdy-all }}</ref>
In February 2018, Pritzker was elected to succeed [[Harvey V. Fineberg]] as chairperson of the [[Carnegie Endowment for International Peace]], taking effect May 2018.<ref>{{cite web | url=https://carnegieendowment.org/2018/02/22/penny-pritzker-elected-chairman-of-board-for-carnegie-endowment-for-international-peace-pub-75622 | title=Penny Pritzker Elected Chairman of the Board for the Carnegie Endowment for International Peace | website=Carnegie Endowment for International Peace | date=February 22, 2018 | access-date=October 11, 2018 | df=mdy-all }}</ref>
In March 2020, Pritzer set up the Illinois COVID-19 Response Fund, to assist non-profit organizations during the [[COVID-19 pandemic]], after receiving a call from her brother, Illinois Governor J. B. Pritzker. The siblings announced the creation of the fund with $23 million in start up money on March 24, 2020, six days after Governor Pritzker's request. Pritzker and her husband contributed $1.5 million of the initial sum.<ref name=":0">{{Cite web|url=https://chicago.suntimes.com/columnists/2020/3/29/21199064/how-illinois-gov-j-b-pritzker-sister-penny-billionaires-both-jumpstarted-illinois-covid-19-charity|title=How Gov. Pritzker, sister Penny — billionaires both — jump-started Illinois COVID-19 relief fund|last=Sweet|first=Lynn|date=2020-03-29|website=Chicago Sun-Times|language=en|access-date=2020-03-31}}</ref><ref>{{Cite news|last=O'Connor|first=John|url=https://www.nbcchicago.com/news/local/chicago-politics/pritzker-taps-obama-aide-his-sister-for-coronavirus-relief/2245615/|title=Pritzker Taps Obama Aide – His Sister – for Coronavirus Relief|date=March 27, 2020|work=nbcchicago.com|access-date=March 31, 2020|publisher=Associated Press}}</ref>
== Personal life ==
In the 1980s, Pritzker completed her first [[Ironman Triathlon]] in [[Hawaii]]. Pritzker trained for six months and ultimately finished the race in 12{{nbsp}}hours. In addition to competing in triathlons, Pritzker has also run marathons. Pritzker is married to ophthalmologist Bryan Traubert, with whom she has two children.<ref name="Easton, Nina, The fascinating life" /> Although her relationship with her brothers became strained following the family business restructuring, they eventually reconciled, and Penny expressed support for the idea of younger brother [[J. B. Pritzker|J.{{Nbsp}}B.]] running for office in 2017.<ref name="Easton, Nina, The fascinating life" /><ref>{{Cite news|url=http://chicago.suntimes.com/news/sweet-presidents-pal-pritzker-ponders-next-move/|title=Sweet: Commerce Secretary Pritzker ponders next move|work=Chicago Sun-Times|access-date=April 1, 2017|language=en|url-status=live|archive-url=https://web.archive.org/web/20170401145749/http://chicago.suntimes.com/news/sweet-presidents-pal-pritzker-ponders-next-move/|archive-date=April 1, 2017}}</ref>
==See also==
*[[Federal Deposit Insurance Corporation]]
*[[List of female United States Cabinet members]]
*[[List of people and organisations named in the Paradise Papers]]
*[[Office of Thrift Supervision]]
== Notes ==
{{Notelist}}
== References ==
{{Reflist}}
== External links ==
{{Commons category}}
* [https://www.commerce.gov/directory/pennypritzker About Secretary Penny Pritzker] at the [[United States Department of Commerce]]
* {{C-SPAN|1031777}}
* [https://www.wsj.com/articles/SB120554763760338773 Money Maven]
* [https://www.forbes.com/lists/2007/54/richlist07_Penny-Pritzker_CDNP.html The Forbes 400 – #135 Penny Pritzker] 2007 profile
* [http://www.thecrimson.com/article.aspx?ref=513679 The Harvard Crimson – Penny Pritzker] Madeline W. Lissner, June 5, 2006
* [http://www.secinfo.com/$/SEC/Registrant.asp?CIK=1087398 SEC filings]
* [https://web.archive.org/web/20190318171352/http://www.penny-pritzker.com/ Personal website]
{{s-start}}
{{s-off}}
{{s-bef
| before = [[John Bryson]]
}}
{{s-ttl
| title = [[United States Secretary of Commerce]]
| years = 2013–2017
}}
{{s-aft
| after = [[Wilbur Ross]]
}}
{{s-prec|usa}}
{{s-bef|before=[[Ernest Moniz]]|as=Former US Cabinet Member}}
{{s-ttl|title=[[United States order of precedence|Order of precedence of the United States]]<br>''{{small|as Former US Cabinet Memb[er}}''|years=}}
{{s-aft|after=[[Anthony Foxx]]|as=Former US Cabinet Member}}
{{s-end}}
{{USSecCommerce}}
{{Obama cabinet}}
{{Authority control}}
{{DEFAULTSORT:Pritzker, Penny}}
[[Category:1959 births]]
[[Category:Living people]]
[[Category:20th-century American businesswomen]]
[[Category:20th-century American philanthropists]]
[[Category:20th-century women philanthropists]]
[[Category:21st-century American businesswomen]]
[[Category:21st-century American philanthropists]]
[[Category:21st-century women philanthropists]]
[[Category:21st-century American politicians]]
[[Category:21st-century American women politicians]]
[[Category:American billionaires]]
[[Category:American business executives]]
[[Category:American chairpersons of corporations]]
[[Category:American company founders]]
[[Category:American financial company founders]]
[[Category:American hoteliers]]
[[Category:American people of Ukrainian-Jewish descent]]
[[Category:American women business executives]]
[[Category:American women company founders]]
[[Category:American women investors]]
[[Category:Businesspeople from Chicago]]
[[Category:Carnegie Endowment for International Peace]]
[[Category:Castilleja School alumni]]
[[Category:Fellows of the American Academy of Arts and Sciences]]
[[Category:Female billionaires]]
[[Category:Harvard College alumni]]
[[Category:Hotel founders]]
[[Category:Hyatt people]]
[[Category:Illinois Democrats]]
[[Category:Members of the Chicago Board of Education]]
[[Category:Members of the Council on Foreign Relations]]
[[Category:Obama administration cabinet members]]
[[Category:People named in the Paradise Papers]]
[[Category:Philanthropists from Illinois]]
[[Category:Politicians from Chicago]]
[[Category:Pritzker family|Penny]]
[[Category:Jewish American members of the Cabinet of the United States]]
[[Category:Stanford Graduate School of Business alumni]]
[[Category:Stanford Law School alumni]]
[[Category:Stanford University trustees]]
[[Category:United States Secretaries of Commerce]]
[[Category:Women hoteliers]]
[[Category:Women members of the Cabinet of the United States]]' |
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