Herbert Allen Jr. is the son of Kathleen and Herbert A. Allen Sr. His father was a high school drop out and stock trader who joined[1] in 1927 an investment firm founded in 1922 by his older brother Charles, Allen & Company.
[2] Allen & Company specialized in corporate buyouts.
[6] In 1973, Allen & Company purchased a controlling interest in Columbia Pictures.
[7] In 1982, Allen & Company launched the Sun Valley Conference and The Coca-Cola Company bought Columbia for $750 million in cash and stock[7] giving Allen Jr. a seat on the Board of Directors.
[7] His second wife was Broadway dancer Ann Reinking,[7] whom he married in 1982 and divorced in 1989.