Peter Nicholas (businessman)
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Peter Michael Nicholas (May 16, 1941 – May 14, 2022) was an American businessman and philanthropist. He co-founded medical device firm
Boston Scientific Boston Scientific Corporation ("BSC"), incorporated in Delaware, is a biomedical/biotechnology engineering firm and multinational manufacturer of medical devices used in interventional medical specialties, including interventional radiology, i ...
with partner
John Abele John E. Abele (born 1937) is an American businessman, and the co-founder and a director of Boston Scientific, a medical device company. He was awarded the ASME Medal in 2010. As of May 2022, his net worth was estimated at US$640 million. He was f ...
in 1979.


Early life

Nicholas was born in Portsmouth, New Hampshire, on May 16, 1941. He was the second of four children of Nicholas Nicholas and Vrysula (Coucouvitis), both of whom immigrated to the United States from Greece. His father was a
United States Navy The United States Navy (USN) is the maritime service branch of the United States Armed Forces and one of the eight uniformed services of the United States. It is the largest and most powerful navy in the world, with the estimated tonnage ...
career officer and served during
World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposing ...
. Nicholas attended St. Paul's School in his home state, where he was a letterman in baseball, football, and squash. Although he was accepted into the
United States Naval Academy The United States Naval Academy (US Naval Academy, USNA, or Navy) is a federal service academy in Annapolis, Maryland. It was established on 10 October 1845 during the tenure of George Bancroft as Secretary of the Navy. The Naval Academy ...
, he did not pass an entrance
physical examination In a physical examination, medical examination, or clinical examination, a medical practitioner examines a patient for any possible medical signs or symptoms of a medical condition. It generally consists of a series of questions about the pati ...
due to his eyesight. He then received a late admission into Duke University, graduating in 1964. After serving in the U.S. Navy as a communications officer on the USS ''Lookout'' and member of the special operations warfare group for two years, he undertook
postgraduate studies Postgraduate or graduate education refers to academic or professional degrees, certificates, diplomas, or other qualifications pursued by post-secondary students who have earned an undergraduate (bachelor's) degree. The organization and struc ...
at the
Wharton School of the University of Pennsylvania The Wharton School of the University of Pennsylvania ( ; also known as Wharton Business School, the Wharton School, Penn Wharton, and Wharton) is the business school of the University of Pennsylvania, a private Ivy League research university in ...
, obtaining a
Master of Business Administration A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accoun ...
in 1968.


Career

Nicholas first worked for Eli Lilly and Company in sales, marketing, and management for a decade from 1968 to 1978. He subsequently acted as general manager of the
Millipore Corporation Merck Millipore was the brand used by Merck Group's (not US-based Merck & Co.) global life science business until 2015 when the company re-branded. It was formed when Merck acquired the Millipore Corporation in 2010. Merck is a supplier to the ...
's medical products division. Nicholas first met scientist
John Abele John E. Abele (born 1937) is an American businessman, and the co-founder and a director of Boston Scientific, a medical device company. He was awarded the ASME Medal in 2010. As of May 2022, his net worth was estimated at US$640 million. He was f ...
at a Christmas party in
Concord Concord may refer to: Meaning "agreement" * Pact or treaty, frequently between nations (indicating a condition of harmony) * Harmony, in music * Agreement (linguistics), a change in the form of a word depending on grammatical features of other ...
in 1979. The latter was president of Meditech at the time. They borrowed $800,000 to start
Boston Scientific Boston Scientific Corporation ("BSC"), incorporated in Delaware, is a biomedical/biotechnology engineering firm and multinational manufacturer of medical devices used in interventional medical specialties, including interventional radiology, i ...
, a manufacturer of medical devices. He helped grow the company through a series of astute acquisitions. Nicholas was
chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especial ...
of the company until 1999, when he became chairman. He continued in that role until his retirement in 2016. Nicholas was chairman emeritus of the Duke board of trustees. He was ranked #78 by ''
Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also r ...
'' magazine's 2005 list of "The 400 Richest Americans", with an estimated worth of $4 billion, before finishing #189 the following year. Nicholas was one of seven Greek Americans to feature on the aforementioned list. The Nicholas family gave $20 million to Duke University in 1996 for the School of the Environment, which subsequently renamed the school in his honor. In 2000, Nicholas was a recipient of the
Ellis Island Medal of Honor The Ellis Island Medal of Honor is an American award founded by the Ellis Island Honors Society (EIHS) (formerly known as the National Ethnic Coalition of Organizations (NECO)), which is presented annually to American citizens, both native-born ...
. Eight years later, Nicholas and his wife pledged a further $72 million to Duke; $70 million to the Nicholas School of the Environment, and $2 million to Perkins Library. He served on the board of advisors of the Nicholas Institute for Environmental Policy Solutions, which he established.


Personal life

Nicholas married Virginia (Ginny) Lilly, a descendant of
Eli Lilly Eli Lilly (July 8, 1838 – June 6, 1898) was an American soldier, pharmacist, chemist, and businessman who founded the Eli Lilly and Company pharmaceutical corporation. Lilly enlisted in the Union Army during the American Civil War and ...
, in 1964, shortly after they both graduated from Duke University. They met while studying at the institution, and remained married until his death. Together, they had three children: Peter Jr., J.K., and Katherine. All three graduated from Duke, as did one of their granddaughters. Nicholas died on May 14, 2022, at his home in
Boca Grande, Florida Boca Grande is a small residential community on Gasparilla Island in southwest Florida. Gasparilla Island is a part of both Charlotte and Lee counties, while the actual village of Boca Grande, which is home to many seasonal and some year-roun ...
, aged 80. He had been diagnosed with cancer.


Recognition

*Golden Plate Award of the
American Academy of Achievement The American Academy of Achievement, colloquially known as the Academy of Achievement, is a non-profit educational organization that recognizes some of the highest achieving individuals in diverse fields and gives them the opportunity to meet ...
, 1997 *Phoenix Lifetime Achievement Award *Ellis Island Medal of Honor, 2000 *AdvaMed Lifetime Achievement Award, 2016


References


External links


Boston Scientific Official Site

Peter Nicholas Forbes Profile

Forbes.com: "Forbes World's Richest People"

Outside the Classroom

Duke Trustees Select Peter Nicholas as Board Chair

Nicholas's $72 million pledge to Duke still outstanding
{{DEFAULTSORT:Nicholas, Peter 1941 births 2022 deaths American billionaires Duke University alumni American people of Greek descent Eli Lilly and Company people Boston Scientific people Businesspeople from Boston People from Portsmouth, New Hampshire Military personnel from New Hampshire Wharton School of the University of Pennsylvania alumni American philanthropists