1. Jack Friedman was an American entrepreneur, businessman, veteran of the toy and video game industries, and a philanthropist.
10 Facts About Jack Friedman
1. 2.
Jack Friedman was established with the financial backing of Friedman's employer, Norman J Lewis, who later sold his interest in the company to a Chinese investor.
3.
In 1985, MCA acquired a 63 percent interest in LJN Toys, completing a $32 million stock deal that required Jack Friedman to move to Los Angeles County, California.
4.
Jack Friedman signed a long-term employment agreement with MCA and began running LJN Toys from southern California.
5.
Jack Friedman was an avid movie fan, and had considered producing films, but after two years and just before MCA sold LJN to Acclaim Entertainment, Jack Friedman left the company, preferring to be on his own in the business world.
6.
In 1990, Jack Friedman founded THQ in Calabasas, California, with a personal investment of $1 million.
7.
Jack Friedman flourished at first, and Friedman sold his 46 percent stake in the company on its initial public offering, gaining $13 million.
8.
Frustrated and stuck in a business where he increasingly had no natural affinity for, Jack Friedman struggled to remain content at THQ.
9.
In 1995, with almost $3 million in personal investment, Jack Friedman co-founded the toy company Jakks Pacific with Berman.
10.
Jack Friedman dedicated his talents to Jakks Pacific for 15 years, and he will be sorely missed.