George Roberts co-founded KKR in 1976 with his first cousin Henry Kravis and their mentor Jerome Kohlberg, after the three pioneered some of the earliest leveraged buyouts at Bear Stearns. KKR helped invent the modern private equity industry, in which firms use borrowed money to buy companies and reshape them.
Roberts ran the West Coast side of the firm for decades and served as co-CEO until 2021, when he and Kravis handed day-to-day leadership to Joseph Bae and Scott Nuttall while staying on as co-executive chairmen. KKR has since grown to about $758 billion in assets under management as of early 2026.
Roberts, consistently ranked among the wealthiest Americans, remains a controlling figure at a firm whose investments touch companies, real estate, infrastructure, and insurance across the economy.
What they control
- KKR, one of the world's largest private equity and alternative-asset managers
- About $758 billion in assets under management as of early 2026
- A large personal stake in the publicly traded firm
- Influence over hundreds of portfolio companies that employ workers worldwide
Key institutions & holdings
Co-founded in 1976; co-CEO until 2021.
Where Roberts, Kravis, and Kohlberg pioneered early leveraged buyouts.
Key facts
- Co-founded KKR in 1976 with Henry Kravis and Jerome Kohlberg.
- KKR managed about $758 billion in assets as of March 31, 2026.
- Roberts and Kravis stepped down as co-CEOs in 2021, succeeded by Joseph Bae and Scott Nuttall.
- His net worth is estimated at roughly $17 billion.
- Roberts is the first cousin of co-founder Henry Kravis.
Timeline
- 1943-09-14George R. Roberts is born in Houston, Texas.
- 1976Co-founds KKR with Henry Kravis and Jerome Kohlberg.
- 1989KKR completes the landmark leveraged buyout of RJR Nabisco.
- 2010KKR becomes a publicly traded company.
- 2021Roberts and Kravis step down as co-CEOs, remaining co-executive chairmen.
Controversies
The leveraged buyout model · 1976-2026
KKR's signature strategy of buying companies with large amounts of debt has been criticized for leading to job cuts, plant closures, and heavy debt loads at acquired firms, even as it generated large returns for investors.
RJR Nabisco · 1989
KKR's roughly $25 billion takeover of RJR Nabisco in 1989, chronicled in the book Barbarians at the Gate, became the symbol of 1980s buyout excess.
Network
- Henry KravisCousin and co-founderCo-founded KKR and was co-CEO and co-chairman alongside Roberts.
- Jerome KohlbergCo-founderThe third founder, who later left to start his own firm.
- Joseph BaeSuccessorCo-CEO of KKR since 2021.
- Scott NuttallSuccessorCo-CEO of KKR since 2021.
Why this matters
Private equity firms like KKR now own companies that employ millions and provide everyday services, from health care to housing. Because their model relies on debt and high returns, decisions made by a handful of founders and partners can determine whether workers keep jobs, whether companies survive their debt, and how essential services are priced, with little public say.