Category Archives: Business & Finance

Jews in the World of Business and Finance

Jew of the Week: Ted Lerner

Bringing Back the Washington Nationals

Theodore Nathan Lerner (1925-2023) was born in Washington, D.C. to a family of Orthodox Jewish immigrants. He went to public school and his favourite pastime was baseball. He would sell newspapers as a child to get just enough money to afford a bus ride to the local stadium and buy an entrance ticket (a total of 28 cents). After serving in the army during World War II, Lerner returned to the US and enrolled at George Washington University (with a scholarship from the “G.I. Bill” for veterans). He went on to law school but became more interested in real estate. As a young man in 1952, he founded his own real estate development company starting with just $250. Lerner worked tirelessly, often 18 hours a day. He said that he would only take time off for Jewish holidays, and the occasional ball game. He went from developing small homes to larger apartment buildings, and then to massive commercial enterprises. Some of his most famous projects are Chelsea Piers in New York City and Tysons Corner in Washington (the area’s first indoor shopping mall, and still one of the largest in the whole country). All in all, Lerner Enterprises developed more than 20 million square feet of residential and commercial spaces, and Lerner became the richest man in Maryland. In 2002, the Montreal Expos baseball team went up for sale, and Lerner knew he had to bring the team to Washington. He ended up outbidding all the other contenders to resurrect the Washington Nationals. Lerner retired in 2018, and the following year the Nationals won the World Series, fulfilling Lerner’s childhood dream. Lerner was a generous philanthropist, and donated large sums regularly to hospitals and charities, to numerous Jewish schools, as well as to Hebrew University and the Weizmann Institute in Israel. Sadly, Lerner passed away last month.

Why President Truman Recognized the State of Israel

Words of the Week

The Jew is not a burden on the charities of the state or of the city; these could cease from their functions without affecting him. When he is well enough, he works; when he is incapacitated, his own people take care of him. And not in a poor and stingy way, but with a fine and large benevolence. His race is entitled to be called the most benevolent of all races of men.
– Mark Twain

Jew of the Week: Temerl Sonnenberg Bergson

Europe’s Greatest Jewish Businesswoman

Tamar “Temerl” bat Avraham of Opoczno (c. 1765-1830) was born in Poland to a wealthy and deeply religious Jewish family. She married young, but her first husband tragically died soon after. She got remarried to a young businessman named Dov Ber (“Berek”) Zbytkower. He went on to become immensely wealthy, and supplied the Polish and Russian armies. He took on the last name “Sonnenberg”, and was nicknamed the “Polish Rothschild”. Meanwhile, besides being a devoted mother of six children, Temerl was busy supporting the nascent Hasidic movement, founded just a few decades earlier by the Baal Shem Tov. Temerl played a huge role in bringing Hasidism to Poland. In fact, she financed the construction of Warsaw’s first Hasidic synagogue. She paid the salaries of numerous Hasidic rabbis in Poland (along with non-Hasidic rabbis), including the great Simcha Bunim of Peshischa. Temerl was a huge philanthropist and gave to all kinds of other causes as well. In 1818 alone, she donated some 54,000 rubles to Polish charities. After her husband passed away, Temerl took over his business. (In honour of their father, her children changed their last name to “Berekson”, or “Bergson”, which is why she came to be known as Temerl Bergson, too.) She also founded her own new bank. Temerl was one of the top businesswomen in all of Europe at the time. She was so influential that the Russian government gave her special permission to buy an estate, making her only the third Jew to own property outside the ghettos. She continued to do everything she could to assist the plight of the Jews. In 1824, she used her influence to rescind a government decree against Jewish pilgrimages. In fact, some Hasidic leaders came to refer to her as Reb Temerl! (A title traditionally reserved for men.) In her will, she left 300,000 zlotys to charity. Temerl was called the “Polish Hasidah”, and her tombstone states: “To her nation she was a protector against oppression—a helper during distress. To the poor she was a mother. She was a virtuous woman, powerful and famous.” The renowned philosopher and Nobel laureate Henri Bergson was her great-grandson.

Chanukah Begins Sunday Night – Chag Sameach!

18 Incredibly Brave Women in Jewish History

Archaeologists Find 2200-Year-Old Coins Confirming Chanukah

The Peruvian Villager Who Led Hundreds to Convert to Judaism

When Jews & Greeks Were Brothers: The Untold Story of Chanukah

Words of the Week

The Sabbath is the day we focus on the things that have value but not a price, when we neither work nor employ others to do our work, when we neither buy nor sell, in which all manipulation of nature for creative ends is forbidden and all hierarchies of power or wealth are suspended.
– Rabbi Jonathan Sacks

Jew of the Week: Jacques Spreiregen

The World’s Coolest Hats

Yakov Henryk Spreiregen (1894-1982) was born to a Jewish family in Warsaw. The family immigrated to France when he was a young man—where he changed his name to Jacques—and then to England to escape the First World War. Spreiregen found a job working for a hatmaker, but was soon called up to serve in the military. After returning to England following his service, he started importing military-style berets from France. He then began making his own hats from high-quality angora wool. In 1938, Spreiregen leased an old thread factory in northwest England and founded Kangol (a name he made up from “knitting angora wool”). The company initially struggled to turn a profit, and many of the first employees were his own family members. Eventually, the hats did become popular, and earned a reputation for quality and durability. During World War II, Spreiregen won a contract to outfit the British army with berets. By the end of the war, he was making a million hats a year! Kangol later outfitted the English Olympic team, and the crew of British Airways. The company went public in 1952. Two years later, Spreiregen started a new division to produce helmets and seat belts. Kangol went on to become the largest seat belt manufacturer in Europe. In 1964, Kangol made a deal with The Beatles to make their branded hats. Soon, Kangol hats were popular among American hip hop artists, too, and have since been sported by the likes of Grandmaster Flash, Madonna, Brad Pitt, and Princess Diana. The most famous wearer of Kangol hats is undoubtedly Samuel L. Jackson, who has said that it’s a family tradition going back to his grandfather. Spreiregen retired from the company in 1972. Just a few years later, it would officially become the world’s largest hatmaker. Because Americans would often ask for the “kangaroo” hats when shopping, Kangol made their logo a kangaroo in 1983, a year after Spreiregen passed away.

14 Facts You Should Know About the Book of Psalms

The Caesar Who Saved Judaism

Words of the Week

The real danger of antisemitism is not what others think of us, but what it makes us think of ourselves.
– Rabbi Manis Friedman