Episode 93. David A. Jones Sr. – Co-Founder & Chairman Emeritus, Humana, Inc.
David Jones Sr. co-founded Humana Inc. and considered the excellent job opportunities and a chance for success that the company ultimately provided as his most outstanding achievement. Treating people the way he wants to be treated is his guiding principle.
In 1961, Louisville native David Jones Sr., with his late partner Wendell Cherry, borrowed $1,000 and founded Extendicare. Before the decade, though, it became the largest nursing home company in the U.S. In 1974, the company was renamed Humana, Inc.
Today, Humana is a Fortune 100 health benefits company with a revenue of $30 billion, 30,000 employees, and almost 12 million customers nationwide. In 2005, after 37 years as CEO and 44 years as board chair, Jones retired from Humana and was succeeded by his son.
David and his business partner were instrumental in the Kentucky Center for the Arts opening. His achievements include receiving the Yale Medal, the highest award for outstanding volunteer service, and the Order of Merit in 2003, Romania’s highest civilian honor. He also holds honorary doctorates from universities across the globe.
David and his wife, Betty, have five children and eleven grandchildren.
David A. Jones Sr., who passed away in 2019, was a prominent American businessman and philanthropist, best known as the co-founder of Humana Inc.
Born August 7th, 1931, in Louisville, Kentucky, Jones and Wendell Cherry transformed a single nursing home into Humana, one of the most extensive health insurance and healthcare companies in the United States.
Critical aspects of David A. Jones Sr.’s career and impact include:
- Co-founding Humana: Jones and Cherry co-founded what would become Humana in 1961. The company initially began as a nursing home company named Extendicare and became one of the largest nursing home operators in the United States. In the 1970s, the company shifted focus to hospital operations, and by 1974, it was renamed Humana.
- Expansion into Healthcare and Insurance: Under Jones’ leadership, Humana evolved from a hospital company into a health insurance provider. This transition marked Humana’s growth into a significant player in the American healthcare sector.
- Philanthropic Endeavors: Beyond his business achievements, Jones was also known for his charitable efforts, particularly in his hometown of Louisville. He contributed to educational initiatives, urban development, and other community projects.
- Legacy in Healthcare: David A. Jones Sr. left a lasting legacy in the healthcare industry through his role in building Humana into a major corporation. His work impacted how healthcare systems operate and how health insurance is managed in the United States.
- Community Leadership: Jones was also involved in various community and civic initiatives. He served on the boards of numerous organizations and was a key figure in local development projects.
- Recognition and Awards: Jones received various accolades throughout his career for his business success and community contributions. He was respected for his business acumen and dedication to improving healthcare and supporting his community.
David A. Jones Sr.’s life and career were marked by entrepreneurial success, innovation in healthcare, and a commitment to philanthropy and community development. His contributions have had a lasting impact on the healthcare industry and on the communities he served.