Category Archives: Business & Finance

Jews in the World of Business and Finance

Jew of the Week: Ivanka Trump

Ivanka Trump

Yael Ivanka Marie Trump (b. 1981) was born in New York City and is the daughter of famous billionaire Donald Trump. After earning an economics degree from the University of Pennsylvania and working for a couple of firms, she started her first big venture, a jewellery line and Madison Avenue store (called ‘Ivanka Trump’). She then joined the family business and is now an Executive Vice President at the Trump Organization, one of the world’s largest real estate development companies (with over 22,000 employees). In 2012, she was voted ‘Businesswoman of the Year’. Meanwhile, Trump was also a model for over a decade, both on fashion runways and magazine covers, and has appeared on a number of TV shows. In 2009 she published her first book. Shortly before this, Trump formally converted to Judaism (taking on the name ‘Yael’) through the Modern Orthodox Yeshivat Ramaz in New York, after a long and difficult period of studies with Rabbi Elie Weinstock. Soon after, she married businessman Jared Kushner, with whom she has two children. Trump has said she learned to cook just for Shabbat, and compares each Friday night dinner to Thanksgiving. She’s described it as a day to spend with family, “No email, no TV, no Internet from Friday night to Saturday night. It’s incredibly restorative… It’s an amazing thing when you’re so connected to really sign off.”

Words of the Week

A man must always observe the honour due to his wife, because blessings rest on a man’s home only on account of his wife.
– Rabbi Helbo, Talmud (Bava Metzia 59a)

Jew of the Week: Robert Kraft

Robert Kraft

Robert K. Kraft (b. 1941) was born in Brookline, Massachusetts to an observant Jewish family. His father was a teacher and prayer leader at the local Congregation Kehillath Israel and his mother was a dressmaker. Despite coming from modest means, scholarships allowed him to study and graduate from both Harvard and Columbia University (where he was a member of the Jewish fraternity Zeta Beta Tau, and the school’s football team). In 1967, Kraft entered the world of business when he bought his father-in-law’s packaging company. Five years later, he started his own paper commodity business. Kraft built the two companies into a paper empire, the largest in the US, and one of the country’s top 100 exporters. In 1986, Kraft got into media, investing in TV and radio stations, film, theatre, and entertainment. Around this time, he bought the stadium of the New England Patriots football team, which was going into bankruptcy. By the mid-90’s, the team continued its terrible streak, having never won a Superbowl, and was about to be sold and moved to St. Louis. Kraft stepped in to save his beloved team, paying a record $175 million to purchase it, despite its horrible standing and poor value. Kraft immediately turned the fortunes of the sports franchise around. The following year, the Patriots sold out tickets to every home game for the first time in their history, and have sold out every year since then. They made the playoffs for the first time in nearly a decade, and have since won four Superbowls, including one last weekend. Kraft also plays a central role in the NFL at large, and was credited with saving the 2011 season and bringing about a 10-year contract to keep the league running. Meanwhile, he also owns the New England Revolution MLS soccer team. Kraft is a noted philanthropist, having donated over $100 million to various causes including universities, schools, and research centers, victims of terrorism, as well as Israeli causes. Among the latter is helping Israel’s struggling Ethiopian Jewish community, and spreading the game of football in the Holy Land, sponsoring the Israel Football League, and building the Kraft Family Stadium in Jerusalem. For his efforts, Kraft has won a number of prestigious awards and honorary degrees. With a net worth estimated at $4 billion, he continues to rank among the richest Americans.

Words of the Week

God’s words to Adam (Genesis 3:9), “Where are you?” is a perpetual call to every person, at all times. God calls out to each and every one of us every moment of the day: “Where are you in the world? You have been allotted a certain number of days, hours, and minutes in which to fulfill your mission in life. You have lived so many years and so many days – Where are you? What have you accomplished?”
– Rabbi Schneur Zalman of Liadi

Jew of the Week: Dean Kamen

Inventor of the Segway

Dean Kamen on a Segway

Dean Kamen (b. 1951) was born in New York, the son of famous illustrator Jack Kamen. He dropped out of Worcester Polytechnic Institute to focus on his career as an inventor and entrepreneur. His first big success was inventing a wearable drug infusion pump, after which he started his first company AutoSyringe. Following this, he worked on portable kidney dialysis machines, robotic arms, insulin pumps, the Stirling engine, water purification systems, as well as solar power and off-grid electricity in the hopes of raising the standard of life in developing countries. Among his more interesting inventions are an all-terrain wheelchair, and a device that launches people into the air, used by law enforcement agents and emergency workers to get to the top of tall or inaccessible rooftops and buildings. Above all though, his most well-known invention is undoubtedly the Segway – the cool, self-balancing, two-wheeled personal transporter. Though it has yet to catch-on among the public, it was once thought to be an invention “more important than the internet”, and Steve Jobs said it was “as big a deal as the PC”. Meanwhile, Kamen founded an organization called FIRST, aimed at inspiring students to enter technology and engineering programs. The organization provides over $15 million in scholarships. It also runs the famous FIRST Robotics Competition, now held in some 60 locations around the world, with over one million students having participated over the years. All in all, Kamen holds over 440 patents. He has already been inducted into the National Inventors Hall of Fame, and has won a great number of awards and honourary degrees, including the National Medal of Technology, and the UN’s Global Humanitarian Action Award. In 2010, he also starred in the TV show Dean of Invention. Kamen is a hobbyist pilot, and owns a collection of jet aircraft and helicopters, which he usually flies to work.

Words of the Week

He was this little guy David, and he had this really big problem, Goliath, and he took him out because he had a little piece of technology, and I thought, “Wow, technology is cool.”
– Dean Kamen, on being inspired by the Biblical story of David and Goliath