Thomas Lozick Is a Low-Profile Billionaire Thanks to His 65% Ownership in Swagelok
Thomas Lozick has become a billionaire through his 65% ownership stake in Swagelok, a company specializing in valves and fluid system components. Forbes estimates his net worth as being an estimated $1.7 billion.
Lozick, 68, describes herself on official forms as a homemaker and donates through the Edward A and Catherine L. Lozick Foundation – which donated $3 Million last year – as her main means of giving.
Early Life and Education
Fred Lennon created a trust for Catherine Lozick that held most of his billion-dollar fortune from Swagelok, an industrial fittings and valves manufacturing firm, but its terms stipulated that Lozick would inherit them 21 years after Lennon died – prompting William Lennon to file suit against Catherine in 2002; however, the judge dismissed this lawsuit because Lennon didn’t have standing.
Thomas Lozick is Chairman of the privately-held Swagelok Company located in Solon, Ohio and an active philanthropist and Republican party supporter. After graduating with his bachelor’s degree in mechanical engineering from Auburn University he moved on to found two children and five grandchildren before eventually settling in Alpharetta Georgia with three siblings.
Thomas Lozick is currently Chairman of privately held Swagelok Company based out of Solon, Ohio. Since 2009, he has overseen all aspects of operations. Lozick is Fred Lennon’s grandson and has played an instrumental role in setting Swagelok’s values and vision as its leader.
He has also served as President of Swagelok Louisiana, one of its oldest authorized sales and service centers. Swagelok Louisiana provides products, assemblies, training services and customer solutions for transportation, power generation and oil and gas industries.
As well as his professional duties, Mr. Davie has made notable charitable contributions. He serves on the board of American Red Cross and as a member of United Way of Greater Cleveland.
Achievement and Honors
Thomas Lozick is Chairman and Chief Executive Officer of privately owned Swagelok Company, which provides hydraulic fluid power and control systems to clients in transportation, energy, oil and gas industries. Lozick is Fred Lennon’s grandson; the company was founded by him in 1947 with its global headquarters and innovation center located in Solon Ohio with over 5,700 people employed worldwide. On April 8, 2021 – Lozick led a ribbon cutting ceremony to commemorate their new global headquarters and innovation center completion accompanied by various local and state officials including Mayor Edward Kraus and Cathey Lozick who is his daughter as well.
At each step of his career, Lozick has been recognized for his leadership and contributions to his community. In particular, he received the Solon Chamber of Commerce Distinguished Citizen Award as well as becoming an Honorary Fellow with the American Institute of Certified Public Accountants.
Thomas Lozick leads the board of privately-held Swagelok Company, which manufactures plumbing fittings and valves in Solon, Ohio, while also being an avid Republican supporter who has made contributions to numerous candidates including Mitt Romney and John Boehner.
Catherine Lozick is the heir to Fred Lennon’s fortune and describes herself on official documents as a homemaker with two children. At roughly 68 years old she remains active within his foundation that donates annually to various charitable causes.
Her father established a trust for her that would contain most of his estate’s assets and stipulated she would inherit it 21 years after his death, though the trustees could decide earlier if desired.
Forbes estimates Lozick has amassed an estimated net worth of $1.7 billion, thanks to her 65% ownership stake in Swagelok which generates annual revenues totalling 1.8 billion and the remaining assets such as cash, stocks, and real estate.
She lists herself on official forms as a homemaker and has made regular donations to Republican candidates. Together with her husband, they also run their own charitable foundation.
Lozick was recently appointed chairman of privately-held Swagelok in Solon, Ohio, which recently broke ground on its global headquarters and innovation center. Her family keeps busy between Ohio and Florida with business and philanthropic activities – she’s an active supporter of Republicans who has donated numerous high-profile donations to presidential campaigns; Fred Lennon was a prominent industrialist in Cleveland area.