Whether Donald Trump or Joe Biden wins the electoral college and becomes President of the United States in November, either will become the oldest President to ever sit in the Oval Office.
While many believe that age is just a number, high-profile errors most notably during a recent Presidential debate have called into question, in particular, Biden’s ability to lead at the age of 81.
So, is Biden too old to lead? And what about Trump, who is just three-years younger? Well, several S&P 1500 CEOs are even older than both Trump and Biden, including four who are currently at the helm of companies in the S&P 500.
So, if your dream is to become a CEO of a major company, it's good to know you have plenty of time. Here are 11 CEOs from the 1500 largest companies in the US who are older than Trump and Biden:
1. Warren Buffet
Berkshire Hathaway, 93
At age 93, Warren Buffet is the oldest CEO on this list and the most successful. Buffett is one of the best-known investors in the world and rightly so, as he is also the 10th richest person in the world with a net worth of $131 billion.
Buffett is one of the few on the list who, despite his age, continues to see growth in his company. His shares of Berkshire Hathaway, a multinational conglomerate holding company, are up nearly 85% in the past five years, making it one of the top-performing companies with an older CEO.
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2. Ellen Gordon
Tootsie Roll Industries, 91
As CEO of the candy-making company Tootsie Rolls, Ellen Gordon, at 91, is not seeing as much success as Buffet. Shares of the company rose only 21.7% in the past five years, trailing the S&P 500 average by roughly 75%. In the past year, shares are down 21%.
However, Gordon's age shouldn’t be blamed for the struggling share price. The company saw an 11% revenue drop in 2020 when COVID hit and is still rebuilding. In fact, Tootsie Roll's revenue in 2023 was nearly 11% higher than it was in 2022.
3. Bernard Francis Saul
Saul Centers, 90
CEO of the private real estate firm based in Maryland, Bernard Saul, is 90 years old with a net worth of $2.6 billion. Saul Centers has seen a significant drop in shares over the past five years, going down almost 24%. This drop is largely attributed to the pandemic, as the company saw a huge drop in 2020 and has since been rebuilding its shares.
4. Nick A. Caporella
National Beverage, 87
The first on our list in his 80s, Nick Caporella is CEO and founder of the American beverage manufacturer, National Beverage, based in Fort Lauderdale, Florida. National Beverage, which owns the flavored sparkling water brand La Croix, has seen a slow climb over the last five years, rising 18.4% and over 6% in the past year.
5. Roger Penske
Penske Automotive, 86
In the top position on our list in terms of shares and proving you can be a successful leader over 80 is Roger S. Penske. Shares of the transportation company Penske Automotive, led by the 86-year-old, are up nearly 227% in five years and 26.3% in the past year, each roundly topping the S&P 500. The company's revenue hit $29.5 billion in 2023, up more than 6% from 2022.
Penske was actually awarded the medal of freedom by Trump in 2019.
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6. Ernest Sylvan Rady
American Assets Trust, 86
At 86, Ernest Sylvan Rady is CEO, chairman, and founder of the real estate investment trust company American Assets. Like others on this list, American Assets was hit hard by the pandemic, with shares falling 44% over the past five years and 17.5% in 2023.
7. Alan B. Miller
Universal Health Realty Income Trust, 85
Alan B. Miller is founder and CEO of Universal Health Realty Income Trust, which focuses on investing in acute care hospitals, rehabilitation hospitals, sub-acute facilities, medical office buildings, free-standing emergency departments, and childcare centers. Miller’s company shares dropped 37% in the last five years and almost 20% in 2023.
8. Lee Cole
Calavo Growers, 83
Lee Cole served as CEO of Calavo Growers, an avocado distributor, from 1999 to 2020 before retiring. In March 2023, he came out of retirement to help boost the company’s shares after it lost $6.2 million in 2022.
Cole was responsible for bringing Calavo into the publicly traded market and making it one of the largest avocado companies in the world, as well as being instrumental in the acquisition of Renaissance Food Group, now known as Calavo’s prepared business.
9. Robert Greenberg
Skechers USA, 83
Robert Greenberg is CEO and founder of Skechers USA, the third-largest footwear brand in the States. Skechers is one of the success stories on our list, climbing 147% in shares over the past five years and 34% in 2023, landing it within the S&P 500 companies.
10. Albert Nahmad
Watsco, 82
Distributor of AC, heating, and refrigerating equipment, Watsco is another S&P 500 company, spearheaded by 82-year-old Albert Nahmad. Watsco’s shares were up a whopping 185.5% in the past five years and 45% in 2023.
Nahmad has been founder, Chairman, and CEO since its inception in 1972 and has led its growth from a market capitalization of $22 million in 1989 to $7.3 billion at the end of 2023.
11. Li Yu
Preferred Bank, 82
Li Yu is the founder and CEO of Preferred Bank, a California state-chartered bank founded in 1991 to serve the Chinese American community in Southern California. Preferred Bank has seen growth over the past five years, growing nearly 57%. However, this still trails the S&P 500’s 82% five-year growth significantly.
This list shows there are certainly success stories among this group of older CEOs. However, on average, they are lagging behind the S&P 500. Their shares are up an average of 51.8% in the past five years, trailing the S&P 500's 82% gain in that time.
Time will tell whether the 11 S&P 1500 CEOs featured here are any indication of what we should expect from the White House over the next four years.
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