Albert Ueltschi’s profile picture

Albert Ueltschi

Albert Ueltschi’s profile picture
Net worth 2018: $2.1 Billion
Industry: Service
Country: United States
Children: 4
Education: Drop Out, University of Kentucky
BIOGRAPHY

Albert Ueltschi was born in United States. Albert Ueltschi developed a passion for flight after hearing a radio broadcast of Charles Lindbergh's 1927 transatlantic flight. He subsequently opened a hamburger stand named "Little Hawk" to raise money for flying lessons. At age 16 he was making solo flights. He later dropped out of the University of Kentucky to give flying lessons and barnstorm around the country before eventually becoming a pilot for Pan Am. In 1951, Ueltschi founded the aviation training company FlightSafety International. He took the company public in 1968 and sold it to fellow billionaire Warren Buffett's Berkshire Hathaway for $1.5 billion in stock in 1996. He still maintains his holding in the firm, honoring his pledge to Buffett that he would do so indefinitely. Ueltschi is also the Chairman Emeritus of Orbis International, one of the largest blindness charities in the world. Along with his son, James, Ueltschi co-founded HelpMeSee, an organization with two missions: to directly fund surgeons who perform low-cost lens replacement surgery for blind individuals in developing countries and to train 30,000 cataract specialists in Manual Small Incision Cataract Surgery.

NET WORTH STATISTIC
2010

$1.85 Billion

2011

$1.7 Billion

2012

$2.1 Billion

2018

$2.1 Billion

TIMELINE
2013

In 2013, Flying magazine ranked Ueltschi number 13 on its list of the "51 Heroes of Aviation"

2012

On September 18, 2012, Ueltschi signed The Giving Pledge, noting his commitment to cataract relief

2010

In 2010, Ueltschi cofounded HelpMeSee with his son Jim, to address cataract blindness in the developing world by training thousands of cataract specialists using techniques developed by Ueltschi himself

2003

Ueltschi stepped down as President of FlightSafety in 2003, yet remained Chairman

2001

On July 21, 2001, he was enshrined at Dayton, Ohio, in the National Aviation Hall of Fame class of 2001, along with test pilot Joe Engle, United States Air Force flying ace Marion Carl, and USAF ace Robin Olds

1996

" Berkshire Hathaway acquired FlightSafety in late 1996

1951

He founded FlightSafety International in 1951, the world's foremost aviation training organization, after noticing that corporate pilots did not receive the same rigorous training as airline pilots had

1944

While employed with Pan Am, Ueltschi married his wife Eileen in June 1944

1941

He began his career with Pan Am in 1941 as Juan Trippe's private pilot, retiring in 1968 at the age of 50

1917

Albert Lee "Al" Ueltschi (May 15, 1917 – October 18, 2012) is considered the father of modern flight training and was the founder of FlightSafety International

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