Avrum Gray - Purdue Distinguished Engineering Alumni/Alumnae - Purdue University

Avrum Gray

Founder, G-Bar Ventures
BSME ‘56

Avrum Gray graduated from high school at 16 and from Purdue at 20 — early milestones that foreshadowed a career defined by ambition and achievement.

His resume is a testament to his entrepreneurial drive and business acumen, and his leadership extends across various industries. He was employed by Alloy Consolidated Industries in Chicago for more than 30 years, including as president and CEO. In 1982, demonstrating his affinity for being at the forefront of financial innovation, he founded G-Bar Limited Partnership, a leading independent options trading firm specializing in computer-based arbitrage activities. G-Bar developed cutting-edge position modeling software, including the widely used WINPOS trading and position management system. His pioneering use of calculus in options trading was groundbreaking at the time, significantly advancing the field. In 2014, he further expanded his portfolio, founding G-Bar Ventures to focus on investments in startup and early-stage companies.

“I was fortunate I was successful in that business,” he said. “I started thinking about what helped me become successful, and Purdue was instrumental in providing me with the tools to achieve what I did.”

Gray has served as chairman of Lynch Systems Inc., a glass press supplier to the television and computer industry, and fulfilled executive positions in publicly traded companies like SL Industries Inc., LGL Group Inc., Nashua Corporation, Lynch Corporation, and LICT Corporation. He currently is a trustee of the Spertus Institute for Jewish Learning and Leadership, which awarded him an honorary doctorate in 1983.

His deep connection to Purdue is evident through his significant philanthropic contributions. Gray and his late wife, Joyce, established the Avrum and Joyce Gray Directorship in the Burton D. Morgan Center for Entrepreneurship, which subsequently was redirected to establish one named professorship and one rising star professorship in the School of Mechanical Engineering. In a landmark gesture, he donated a collection of 74 bronze Edgar Degas sculptures to Purdue. Valued at $21 million, the gift is the largest in the history of the College of Liberal Arts. One of the French impressionist artist’s most iconic works, La Petite Danseuse de Quatorze Ans (Little Dancer, Aged Fourteen), is among the pieces in the collection, which is displayed on the second floor of the Purdue Memorial Union. In another display of commitment to cultural enrichment, Gray donated the Standing Woman sculpture by Fernando Botero to the Ravinia Festival in his native Chicago.

At Purdue, Gray was involved in ROTC and went on to serve in the U.S. Army. He joined the Gimlet Leadership Honorary, a booster club for Purdue varsity sports, and was a member of Alpha Epsilon Pi. He offset the seriousness of his studies through his involvement with the humor magazine Rivet, holding the title of editor. These experiences, when combined with his mechanical engineering training, established the groundwork for his multi-faceted successes.

“Purdue taught me how to organize the way I thought about a problem so I could reach a logical solution — to adopt an organized problem-solving system applicable to every phase of life has served me well. That’s the most important concept Purdue taught me,” said Gray, who was recognized with an Outstanding Mechanical Engineer Award in 2019 from the university.

Career Highlights

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