[2][3] His father was a United States Navy career officer and served during World War II.
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, he did not pass an entrance physical examination due to his eyesight.
[2][4] 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,[2][5] he undertook postgraduate studies at the Wharton School of the University of Pennsylvania, obtaining a Master of Business Administration in 1968.
[2] Nicholas first worked for Eli Lilly and Company in sales, marketing, and management for a decade from 1968 to 1978.
[2] He was ranked #78 by Forbes magazine's 2005 list of "The 400 Richest Americans", with an estimated worth of $4 billion,[7] before finishing #189 the following year.