Tag Archives: Colorado

Jews of the Week: the Guggenheims

Meyer Guggenheim, with (top to bottom) Daniel, Solomon, Simon, and Benjamin

Meyer Guggenheim (1828-1905) was born in Switzerland to a traditional Ashkenazi Jewish family. At 19, he set out on his own and journeyed to the United States. After working in various shops in Philadelphia, Guggenheim opened up his own company, importing Swiss embroidery. Business went well, and he soon searched for new opportunities. In 1881, Guggenheim invested $5000 in two Colorado silver mines, and quickly realized their incredible potential. He sold all his other ventures and put all of his money into mining and smelting. With the help of his seven sons, Guggenheim quickly expanded across the US. By 1901, the family controlled the largest metal-processing plants in the US, and also owned mines in Mexico, Bolivia, Chile, and the Congo. In 1922, various disputes led to the Guggenheims being kicked out of their largest company by its own board. Soon, they sold off all of their mines. The family would invest elsewhere, and the fortune vacillated over the decades. In 1999, it ceased to be a strictly family affair with the opening of Guggenheim Partners. Today, the firm has 2300 employees, and controls $260 billion in assets worldwide (including the Los Angeles Dodgers baseball team, purchased for a record $2.15 billion in cash).

After the elder Guggenheim’s passing, his son Daniel Guggenheim (1856-1930) took over the business. By 1918, he raised the family fortune to as much as $300 million, making them among the wealthiest people in the world, as well as among the most generous philanthropists. Daniel’s son was a World War I pilot, inspiring Daniel to invest considerably in aviation technology. To this day, the most prestigious prize in aeronautics is the Daniel Guggenheim Medal. Another son, Solomon Guggenheim (1861-1949), was a patron of the arts and an avid collector. He established New York’s world-famous Guggenheim Museum. Meanwhile, Simon Guggenheim (1867-1941) served as a US senator. He established a fund in honour of his deceased son that has granted over 15,000 scholarships to date, totalling over $250 million! His $80,000 donation (equivalent to $2.5 million today) to a Colorado school was, at the time, the largest private grant ever made to a state institution. Benjamin Guggenheim (1865-1912) worked for the family business out of Paris, and in 1912 boarded the Titanic to head back home. When the iceberg hit, he was offered a place among the first women being evacuated, but rejected, saying “No woman shall remain unsaved because I was a coward.” One survivor reported that “after having helped the rescue of women and children, [he] got dressed, a rose at his buttonhole, to die.” His body was never recovered.

Words of the Week

We can easily forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light.
– Plato

Jew of the Week: Danny Lewin

The ‘Fighting Genius’ of 9/11

Danny Lewin

Danny Lewin

Daniel Mark Lewin (1970-2001) was born in Denver, Colorado. He spent his early childhood there, playing sports and the violin, and programming his first Apple II computer when he was just nine years old. His family made aliyah to Israel when he was 14. Living near Jerusalem, Lewin found school of little challenge and often skipped class to work out at a gym. It wasn’t long before he won the Mr. Teenage Israel bodybuilding competition. Not surprisingly, he joined the IDF’s elite Sayeret Matkal commando unit. After four years as an officer – attaining the rank of captain – Lewin went to study at Technion, while also working for IBM. From there, he got a full scholarship to MIT and studied towards a PhD in computer science. During this time, he came up with a new algorithm that had the potential to revolutionize the nascent internet. Others didn’t see it that way, and felt his concept wouldn’t go very far. Despite the opposition, he teamed up with one of his professors and started a new company, Akamai Technologies. In March of 1999, a series of events caused a surge in internet activity that crashed many websites. It appeared that only the sites served by Akamai had survived. Akamai Technologies became an overnight sensation. A successful IPO shortly after made Lewin a billionaire. On September 11, 2001, Lewin boarded American Airlines flight 11. According to air traffic control recordings, Lewin attacked two of the terrorists on board, but was surprised by a third knife-wielding terrorist from behind. He was killed about 30 minutes before the plane struck the North Tower of the World Trade Center. Lewin therefore carries the tragic distinction of being the first victim of 9/11. He left behind a wife and two small children. At just 31 years of age, he was expected to make big waves, with some predicting he could have become an Israeli prime minister (like fellow Sayeret Matkal graduates Barak and Netanyahu), or one of the world’s true tech titans. His Akamai Technologies is still a multi-billion dollar internet giant today. In his honour, Cambridge, Massachusetts has a Danny Lewin Square and Park, and the annual award for best student paper on computing is named after him, too.

Words of the Week

Long after we have forgiven you for killing our sons, we will be working to forgive you for turning our sons into killers.
– Golda Meir