'A beacon of light': Leon Levine, founder of Family Dollar stores, dies at 85
Leon Levine, entrepreneur, philanthropist and founder of the Family Dollar franchise, has died, his foundation confirmed on its website. He was 85.
Thomas Lawrence III, president of the Leon Levine Foundation, released a statement confirming the death, but didn't specify what led to it.
"On Wednesday, April 5, we lost a beacon of light for our community," Lawrence's statement read. "Not only was Leon Levine an entrepreneur and business leader, but he was a dedicated husband, father, friend and mentor to so many. The team that he created at The Leon Levine Foundation and L&L Management mourn his loss."
Family Dollar: Levine opened his store with good-value products in mind
In November 1959, Levine opened his first Family Dollar store in Charlotte, North Carolina, according to the discount store's website.
Then in his early 20s, after growing up watching his family run a retail store, he wanted to open his own businesses where customers could buy high-quality, good value items for under $2, the website reads.
His philosophy was “The customers are the boss, and you need to keep them happy," the store said.
The company expanded to other states in the south in the 1960s and by 1982, Family Dollar had 500 stores and counting. The store eventually became a Fortune 500 company and in 2009, celebrated 50 years of operation.
But rising price points and other factors have led to strife for the company; experts have previously cited price points as high as $15 for Gillette Fusion razor packs at the retail store.
Dollar Tree acquired Family Dollar in 2015 for nearly $9 billion.
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Levine: Businessman and philanthropist
The Leon Levine Foundation said the businessman is widely known for his philanthropic work in North Carolina, South Carolina and southeastern states, including his work with organizations that support cancer treatment, children’s health, art and spaces for Jewish community members to meet.
Lawrence, president of the Leon Levine Foundation, said Levine taught those who knew him that money isn't the only way to help others.
"He taught us how to empathize with our neighbors who needed a hand up to reach for self sufficiency," Lawrence wrote. "We learned how to balance hard work with the real priorities of life such as family and friends."
What's next for the foundation?
The Leon Levine Foundation was founded in 1980 and supports programs "that improve the human condition" by investing in education, healthcare, human services and Jewish values, according to its website.
The organization will continue to invest in healthcare, education, Jewish values and human services throughout the Carolinas.
"More importantly, it will perpetuate the impact and caring for our neighbors that Leon Levine held in such high regard," Lawrence wrote.
Saleen Martin is a reporter on USA TODAY's NOW team. She is from Norfolk, Virginia – the 757 – and loves all things horror, witches, Christmas, and food. Follow her on Twitter at @Saleen_Martin or email her at sdmartin@usatoday.com.
This article originally appeared on USA TODAY: Leon Levine death: Family Dollar founder dies at age 85
