CACI Celebrates the Innovative Legacy of Co-Founder Harry Markowitz

Nobel Prize Winner Harry Markowitz, born on Aug. 24, 1927, passed away on June 22, 2023. His long, distinguished career included co-founding CACI in 1962 with Herb Karr.

With a park bench and a nearby telephone booth as their makeshift office, Herb and Harry started California Analysis Center Incorporated, which later became the CACI we know today.

Their entrepreneurial spirit, a $2,000 initial investment, and commitment to ethics, innovation, and excellence led CACI to substantial growth and a steady stream of projects that provided clients with technology and expertise to improve efficiency.

Harry left CACI in 1968, the same year the company reached $1 million in revenue, to pursue other interests, including his passion for teaching. Over the years, Harry was a much-respected professor at several schools, including the University of California at Los Angeles, City University of New York, and Rutgers.

Harry’s work in mathematical programming and computer simulation was groundbreaking, but he is best known for his achievements as an economist. He introduced the modern portfolio theory, breaking the norms of investment analysis by focusing on combinations of assets, rather than individual securities. The theory is credited with forever changing the wealth management industry. Harry was awarded the Nobel Prize in Economic Sciences in 1990.

Harry’s contributions to forward-thinking innovation and his entrepreneurial spirit live on at CACI. We are profoundly grateful for his contributions to our company and send our deepest condolences to the Markowitz family.