Category Archives: Business & Finance

Jews in the World of Business and Finance

Jew of the Week: Jonas Phillips

Revolutionary War Hero

Jonas Phillips (1736-1803) was born in Germany to an observant, Yiddish-speaking family. When he was 21, Jonah set forth for the New World. He first made his way to London, anglicizing his father’s name “Phaibush” to “Phillips”. There, he sold himself into indentured servitude in order to pay for his passage to America. After working several years on an indigo plantation, Phillips earned his freedom and moved to New York to work as a merchant. He became a wealthy man and married a prominent Sephardic Jewish woman, with whom he would have 21 children. Unfortunately, Phillips lost much of his wealth because of British restrictions on commerce. Not surprisingly, Phillips became a strong supporter of the American Revolutionary War, and joined the Philadelphia Militia. He fought valiantly, and earned a reputation as an American war hero. In 1787, he took part in the Constitutional Convention that drafted the United States Constitution. He played a key role in ensuring that the Constitution would protect people’s religious freedoms, and give equal civil rights to all citizens. Meanwhile, Phillips was a founding father of one of America’s oldest synagogues, Philadelphia’s Mikveh Israel. One of his grandsons became the Chief Justice of South Carolina’s Supreme Court, while another was America’s first Jewish commodore in the US Navy, and also a famous war hero. His great-grandson was a governor of South Carolina.

Words of the Week

Brothers, half of the Palestinians are Egyptians and the other half are Saudis. Who are the Palestinians? Egyptian! They may be from Alexandria, from Cairo, from Dumietta, from the North, from Aswan, from Upper Egypt. We are Egyptians. We are Arabs.
— Hamas Minister Fathi Hammad on Al-Hekma TV (Egypt), March 23, 2012 (Click here to watch)

Jew of the Week: Joe Mimran

The Brand Master

Joe Mimran (Credit: The Globe and Mail)

Joseph Mimran (b. 1952) was born in Casablanca, Morocco to an observant Jewish family, and grew up in Toronto, Canada. As a young man, he worked a number of odd jobs before opening his own art gallery while a student at York University. He finished his studies at the University of Windsor and became an accountant. After a couple of years, Mimran’s fashion designer mother inspired him to enter her field. He joined his mother and brother to set up a family fashion business called Ms. Originals. In 1979, the brothers hired a young Chinese-Canadian, Alfred Sung, to design their clothes, and the line was an instant hit. (Alfred Sung would later be hailed as “The New King of Fashion”). In the mid-80s, Mimran was once shopping for a simple white shirt but could not find one. He resolved to make his own, and started a new brand, Club Monaco, focused on simple, minimalist designs. By 1999, Club Monaco had 125 stores around the world, including one on Fifth Avenue in New York, and was bought out by Ralph Lauren. In 2004, Mimran started working on a new line to be sold exclusively at Loblaw’s supermarkets, giving rise to the Joe Fresh brand. The brand became so popular that in 2010, independent Joe Fresh stores began popping up. Mimran also founded the “Pink Tartan” label with his wife, and designed lines for President’s Choice and Holt Renfrew. He is currently the chair of the Fashion Design Council of Canada. Aside from fashion, Mimran is a noted philanthropist, supporting the Reena Foundation (which assists people with autism and disabilities), and Toronto’s East General Hospital, among others. Recently, Mimran joined the panel of Canada’s version of Dragon’s Den, the popular TV show where entrepreneurs pitch their ideas to venture capitalists. Mimran is recognized as a pioneer in modern fashion, and has been called a “human calculator”, and a “brand master”.

Words of the Week

Most people do not really want freedom, because freedom involves responsibility, and most people are frightened of responsibility.
– Sigmund Freud

Jews of the Week: Lawrence and Lance Stroll

Lawrence Stroll

Lawrence Sheldon Strulovitch (b. 1959) was born in Montreal. He grew up dreaming of owning and driving Ferraris, and decided to make that a reality by following in his father’s footsteps to become an investor. In the early 80’s, he started by investing in Pierre Cardin and soon introduced their kid’s wear line to the Canadian market. After this success, he did the same with Polo Ralph Lauren in Europe before co-founding Sportswear Holdings Ltd. in 1989 and purchasing a major stake in Tommy Hilfiger. Together with his partner, Stroll is credited with making Tommy Hilfiger the iconic brand that it has become. In 2003, Stroll started working with Michael Kors, similarly expanding it into the international brand that it is today. By 2012, Stroll was listed on Forbes billionaire’s list, and is currently among the wealthiest Canadians. His dream fulfilled, Stroll has some 25 Ferraris in his collection, and owns the Ferrari dealership in Quebec, as well as the Mont-Tremblant racing circuit.

Lance Stroll (Credit: Eddie Keogh/Reuters)

Stroll also introduced his son, Lance Stroll (b. 1998) to the Ferrari world. By age 11, Lance had won a handful of go-karting championships, was voted Rookie of the Year and Driver of the Year, and was signed by Ferrari to its Driver Academy – the youngest person to enter the program in its history. Earlier this year, he made his professional debut in Daytona. Yesterday, it was announced that Lance will join the Williams Martini Formula One team. At 18 years old, this makes him the youngest Formula One driver in the world.

Words of the Week

Our prayers are answered not when we are given what we ask, but when we are challenged to be what we can be.
– Morris Adler