Riggio’s reign at Barnes & Noble began in 1971 when he used a $1.2 million loan to purchase the company’s name and its flagship store on in Manhattan.
NEW YORK — Leonard Riggio, a brash, self-styled underdog who transformed the publishing industry by building Barnes & Noble into the country’s most powerful bookseller before his company was overtaken by the rise of Amazon.com, has died at age 83.
Riggio died Tuesday “following a valiant battle with Alzheimer’s disease,” according to a statement issued by his family. He had stepped down as chairman in 2019 after the chain was sold to the hedge fund Elliott Advisors.
“His leadership spanned decades, during which he not only grew the company but also nurtured a culture of innovation and a love for reading,” reads a statement from Barnes & Noble.
Riggio’s near-half-century reign began in 1971 when he used a $1.2 million loan to purchase Barnes …