Libby Connolly Alexander: Taking a Family Business from Millions to Billions


Jennifer Shraim

Published On

June 12, 2024

Join host Michael Sonnenfeldt exploring the remarkable journey of Libby Connolly Alexander. In 1984, Tulane graduate Libby joined her father’s startup. This small family venture evolved into a global giant and leader in recovery auditing for healthcare, retail, and more major industries. 

How it began: Libby’s father James Connolly, a former senior executive at Gimbels, recognized an untapped opportunity to help department stores recover overcharges. He started Connolly from his living room in 1979.

Over the years, alongside her brother Larry Connolly and husband Robert Alexander, Libby took the reins as CEO, transforming Connolly, Inc. from $5 million to $5 billion during her tenure. It became a leader in recovery auditing. For example, Connolly, Inc. saved clients $1.1 billion in 2018-2019 alone.

Key Themes:

– Sustaining 20% annual growth for over 20 years (Warren Buffett-like returns)

– Family business: Second-generation success

– Insights on entrepreneurial risk, growth, and legacy

Libby’s story underscores the power of humility and teamwork, offering valuable lessons for entrepreneurs. Tune in to hear how she built an industry-dominating company and the unique skills required to sustain such extraordinary success.

Watch clips:

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