Category Archives: Business & Finance

Jews in the World of Business and Finance

Jew of the Week: Manuel Pimental

King Henry’s Best Friend

Don Manuel Pimental (d. 1615) was born to a family of Sephardic Jews who had been forced to convert to Christianity in the decades prior. Pimental became a wealthy merchant, trading with the Muslims under the name Isaac ibn Jakar. He soon converted back to Judaism, and did a lot of work on behalf of the many struggling Jewish communities at the time. Despite the ban on Jews living in France, he settled there anyway and became best friends with King Henry IV. The two played cards together regularly, and it is reported that after one 1608 game in the palace, King Henry said: “I am the king of France, but you are the king of gamblers!” Many didn’t like the fact that the king was so close to a Jew, but Henry defended his friend with the following words: “Those who honestly follow their conscience are of my religion, and mine is that of all brave and good men.” A couple of years later, a Catholic fanatic assassinated King Henry IV for being too friendly with Protestants and Jews. Pimental had to flee, and spent three years in Venice. He then joined his friend Samuel Pallache, the famed “pirate-rabbi”, in Amsterdam, and became one of the Jewish community’s leaders there. In 1614, Pimental purchased a plot of land to serve as the first official Jewish cemetery in the Netherlands. Ironically, when he passed away a year later, he was the first person to be buried there! (Pallache was the second.) Pimental played a large role in advancing the rights of Europe’s Jews, and helped transform Amsterdam into a Jewish haven that eventually became known as the “Jerusalem of Europe”.

Yom Kippur Begins Tonight – Gmar Chatima Tova!

9 Yom Kippur Myths and Misconceptions

Understanding the 5 Afflictions of Yom Kippur

Words of the Week

Neither security nor the development of the country is the true mission of the state. Those are only necessary conditions for the true mission… the ingathering of the exiles is the task and the destiny and the mission of the state of Israel. Without this endeavor it is emptied of its historical content and of no significance to the Jewish people in our day, in the generations that preceded us, and in the generations to come.
David Ben-Gurion

*The biography above is adapted from Jewish Pirates of the Caribbean, by Ed Kritzler.

Jew of the Week: Fernando de Noronha

Founder of Brazil

Fernão de Loronha (c. 1470-1540) was born in Lisbon, Portugal to a Sephardic Jewish family that had been forcibly converted to Christianity by the Inquisition. Like many such families, they continued to practice Judaism in secret. Loronha became a wealthy merchant, and also worked for the German Augsburg banking family. He was knighted by King Manuel I of Portugal (and for this reason, was often associated with the Noronha nobility, being incorrectly referred to as “Fernando de Noronha”.) In 1501, he financed a Portuguese expedition to explore the newly-discovered lands of South America, then called Vera Cruz. Scholars believe his primary motivation was finding a new home for persecuted Jews, where they could finally live free of the Inquisition. Some say Loronha captained the expedition himself, and we know for sure that on board was Amerigo Vespucci (after whom “America” is named). At the time, Europeans imported expensive red dyes made from brazilwood from India. Loronha came back to Portugal in 1502 describing the abundant brazilwood in the new lands and the opportunity for great riches. King Manuel gave him an exclusive ten-year charter for all the commercial rights to brazilwood in Vera Cruz. In exchange, Loronha had to send at least six ships per year on behalf of Portugal, build a fort for the Portuguese military, explore new coasts, and pay the crown 4000 ducats per year. His first six-ship fleet set forth the following year, establishing the first brazilwood factories in the New World. Soon, vast amounts of the precious dye were being imported to Europe, making it the continent’s second most valuable commodity (after gold). The fleet also discovered a new group of islands, which Vespucci named São Lourenço, or São João. Shortly after, a grateful King Manuel gave the islands as a gift to Loronha and his descendants, and made him the first official donatario (“administrator”) in South America. Today, the idyllic islands are still referred to as “Fernando de Noronha” in his honour. Unlike many other colonists, Loronha did not employ slaves, and obtained all the brazilwood through trade with local natives. Most interestingly, it was Loronha who was responsible for renaming the new land to “Brazil” instead of its original name, Vera Cruz. Still a Jew at heart (and soul), Loronha did not want to use the Christian term Vera Cruz (meaning “True Cross”), so he would always refer to it in all of his business dealings as “Brazil” instead. The new name stuck. Similarly, he renamed his main ship from São Cristóvão (“Saint Christopher”) to A Judia (“The Jewess”). In 1506, his crew on that ship discovered a set of islands in Mozambique, named Bassas da Judia. Today, the name has been corrupted to “Bassas da India”.

Words of the Week

Given the history of the attacks on Israel and the oppressiveness and aggressiveness of other countries in the Middle East and elsewhere, boycotting Israel indicates a moral blindness for which it is hard to find any explanation other than antisemitism.
– Steven Weinberg, Nobel Prize-winning physicist, who passed away two weeks ago

The main island of the Fernando de Noronha archipelago of 21 islands, off the coast of Brazil.

Jew of the Week: Helena Rubenstein

First Self-Made Female Millionaire

Chaya Helena Rubinstein (1872-1965) was born in the Jewish ghetto of Krakow, Poland, the oldest of eight daughters in a very religious family. Her cousin was Martin Buber. At age 16, she was arranged to be married but refused to go along with it, instead running away to Switzerland, and then Australia. Although she spoke no English, the local ladies fell in love with her fashion sense and makeup. After agreeing to sell off most of what was in her luggage, she realized she could start a business. With help from an aunt, Rubinstein found her way to the region of Coleraine, famous for its millions of sheep, which produce lanolin, the key ingredient in her creams. Rubinstein worked as a waitress by day, and experimented with her creams by night. With some help from a wealthy admirer, Rubinstein launched her business. It didn’t take long for her to open up her own shop in the heart of Melbourne. Within five years, she opened two more locations: in Sydney and London, England. At the time, women were barred from getting bank loans, so Rubinstein saved up all the money herself and paid in cash. In 1912, she moved to Paris with her first husband, and there opened a new salon. During World War I, the family fled to New York, and Rubinstein opened up shop there as well. Business boomed, and Rubinstein expanded to another twelve cities. She soon became the most famous businesswoman in the world—and the richest. She has been credited as the world’s first self-made female millionaire. After her first marriage fell apart, Rubinstein tied the knot with a Georgian prince, and took on the title “Helena Princess Gourielli”. Rubinstein was a huge philanthropist, and her charity distributed around $130 million to causes around the world. She had a great life-long rivalry with Elizabeth Arden, of whom she said: “With her packaging and my product, we could have ruled the world.” Rubinstein faced a tremendous amount of adversity, as well as anti-Semitism. (In 1941, she was rejected from living in a Park Avenue apartment because she was Jewish, so she bought the whole building!) Nonetheless, she persevered through it all and became a pioneer in the cosmetics industry, in business, and in marketing, continuing to work into her 90s. Among her innovations were waterproof mascara and what may be the first sunscreen. Today, her company is owned by L’Oréal, which presents the Helena Rubinstein Women in Science Awards yearly in her honour.

Words of the Week

We have been waiting for 2,000 years. Is that hurrying?
Golda Meir, to King Abdullah of Jordan in a May 10, 1948 meeting, when he asked not to “hurry” to declare independence.

Helena Rubinstein cuts the ribbon at the grand opening of her Museum of Art in Tel-Aviv (1959)