Calhoun, Ga. — Jeffrey Lorberbaum, president and CEO of Mohawk Industries, debuted on Forbes’ The World’s Billionaires list. The magazine reports that Lorberbaum’s net worth totals $1.7 billion, following a spike in the value of his 15% stake in the company. Lorberbaum ranks No. 1,046 on the list.
In 1957, Lorberbaum’s father, Alan, founded Aladdin Mills. Aladdin was purchased by Mohawk in 1994. Lorberbaum assumed leadership of Mohawk in 2001 and broadened the business into hard surface flooring.