SS Kresge was born on July 31, 1867, in Wilkes-Barre, Pennsylvania. He grew up in a modest household and as a young man, he worked various jobs to support his family. Kresge always had a strong work ethic and a drive to succeed, which would serve him well in his future endeavors.
After working as a traveling salesman and a hardware store clerk, Kresge decided to take a risk and invest in two five-and-dime stores. He turned these small businesses into the K-Mart corporation, which would go on to become a retail giant worth hundreds of millions of dollars. Kresge's keen business acumen and innovative ideas helped him thrive in the competitive world of retail.
In 2012 dollars, Kresge's net worth would have been around $5 billion. His success in the retail industry cemented his legacy as a pioneering entrepreneur. Kresge's ability to adapt to changing market trends and his dedication to providing quality products at affordable prices made him a beloved figure in the business world.
Kresge had five children with his first wife, whom he later divorced. He remarried and continued to focus on his business ventures, all while maintaining a strong family bond. Despite his busy schedule, Kresge always made time for his loved ones and instilled in them the values of hard work and perseverance.
In addition to his business success, Kresge was also known for his support of the temperance movement. Alongside prominent figures like Susan B. Anthony, he advocated for the prohibition of alcohol and promoted a healthy and temperate lifestyle. Kresge's dedication to social causes showed his commitment to making a positive impact on society.
SS Kresge's entrepreneurial spirit and philanthropic efforts continue to inspire generations of business leaders. His legacy as the founder of K-Mart and his contributions to the retail industry will always be remembered. Kresge's determination to succeed against all odds serves as a testament to the power of hard work and perseverance.
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