Leonard Riggio, Who Built Barnes & Noble Into a Book-Retailing Powerhouse, Dies at 83

Leonard Stephen Riggio, the businessman who transformed Barnes & Noble into the nation’s largest bookstore chain, died on August 27, 2024, in New York City, following a battle with Alzheimer’s disease. He was 83 years old.

Early Life and Career

Born in New York City on February 28, 1941, Riggio’s early life was rooted in the city’s Little Italy before his family moved to Brooklyn. He attended Brooklyn Technical High School, graduating in 1958, and later attended evening classes at New York University [1]. His father, Steve Riggio, was a professional boxer who twice defeated Rocky Graziano [1].

Riggio’s entrepreneurial journey began while at NYU, founding the Student Book Exchange in 1965. He acquired the Barnes & Noble bookstore in 1971, using a $1.2 million loan, and adopted the name for his expanding company [2].

Building a Bookselling Empire

Under Riggio’s leadership, Barnes & Noble grew from a single retail location to a nationwide chain with over 600 stores through acquisitions and mergers, including the 1986 takeover of B. Dalton [1]. He pioneered the concept of “superstores” that combined discount prices with a comfortable atmosphere, featuring cafes and reading areas [2]. “Our bookstores were designed to be welcoming as opposed to intimidating,” Riggio stated in 2016 [2].

Later Career and Legacy

Riggio served as executive chairman of Barnes & Noble from 1971 until the sale of the company to Elliott Investment Management in 2019 [1]. He stepped down as chairman in 2019 [2]. His brother, Steve Riggio, served as CEO of Barnes & Noble from 2002 to 2010 [1].

Leonard Riggio is survived by his wife, Louise, three daughters, and four grandsons [3]. He was remembered as a “true son of New York,” a public servant, and a tireless advocate for public education, literacy, and the arts [3].

Barnes & Noble released a statement praising Riggio’s leadership and his dedication to fostering a love for reading [2].