188:, which had a negative net worth of $ 200 million. The company, then renamed New Valley LLC, eventually filed for bankruptcy but was able to pay its bondholders in full via asset sales. Liggett later sold its remaining interest in Western Union Financial Services Inc for $ 1.2 billion, earning it a $ 300 million profit. In 1994, LeBow was sued by his shareholders, who claimed he had taken millions of dollars in improper loans; LeBow settled out of court." In 1995, he teamed up with corporate raider
1693:
320:. In November 2010, LeBow contributed $ 45 million for the construction of a new facility for the LeBow College of Business, the 12th largest gift to any US business school and the biggest ever to Drexel University. The new facility, which was finished in 2013, was named Gerri C. LeBow Hall in honor of LeBow's late wife Geraldine. In 2011, LeBow was named the nation's 23rd largest charitable donor by
33:
147:
LeBow's first foray into business occurred in the 1960s, when he started a computer company to continue his
Pentagon project. LeBow sold the business in 1971, and became a full-time investor. In 1980, he founded the investment holding company Brooke Group Ltd. LeBow went on to purchase many companies
356:
describing
Rabinovich as a "Ukrainian mob boss". A spokesman for LeBow said that, at the time of the fundraiser, LeBow was unaware of Rabinovich's alleged ties to organized crime. Rabinovich said he did not donate money to the fundraiser. According to a spokesman for LeBow in 1997, LeBow's Brooke
381:
LeBow is Jewish. LeBow was first married to
Geraldine Cosher whom he met while they were college students (he was at Drexel and she attended Temple University). They had two daughters. Geraldine died in 2011 after 52 years of marriage. Bennett subsequently married Jacqueline Finkelstein of JSF
230:
for $ 140 million in 1986. In 1993, LeBow stated under sworn testimony that whether cigarettes cause cancer is irrelevant, since cigarettes are a legal product and people choose to use them. In 1996, while under his leadership, Liggett Group broke ranks with the rest of the US
285:
According to court documents, Liggett, while under LeBow's leadership, "engage in marketing tactics that appeal to youths, such as couponing, sampling, and 'buy one get one free' offers for its cigarettes, and advertise in magazines with substantial youth readership."
262:
Liggett had previously been accused of being illegally influenced by Philip Morris, which allegedly paid some of
Liggett's legal bills in order to buy its cooperation in anti-tobacco lawsuits. LeBow stated that the reason for the settlement was to obtain
275:; turn over long-secret tobacco industry documents; disclose ingredients in its cigarettes; and testify against the industry. Liggett was the first cigarette company to voluntarily put the label "Nicotine is Addictive" on their product.
1156:
851:
December 6, 1993 | citing the following deposition: Q. If I asked you, does smoking cause lung cancer... A. I don't know. Q. O.K., and you really don't care because you're selling a legal product? A. Correct.
175:
In 1984, LeBow completed the sale of
Information Displays, which subsequently went bankrupt. The buyer sued LeBow and his partners for fraud and misrepresentation. In 1986, he purchased the fifth-largest
729:
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and was immediately elected chairman of the board, replacing Mick McGuire, who resigned. In June 2010, LeBow became CEO of
Borders Group Inc. In February 2011, Borders declared bankruptcy.
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1526:
1440:
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Board of
Trustees shortly after his appointment over discussions about the propriety of associating with the owner of a company which sells products that are known to cause cancer.
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for
Liggett from future liabilities and to prevent a future bankruptcy. The settlement entailed that Liggett agree to pay $ 1 million in damages; publicly announce that smoking is
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660:
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in his honor after LeBow made a $ 10 million donation to the university. LeBow also endowed the
Bennett S. LeBow Engineering Center, a facility that houses Drexel's
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863:
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Drexel
University Alumni Magazine: "A new gift from Bennett S. LeBow '60, Hon. '98 - Drexel's leading alumni benefactor adds to his legacy"
370:
597:
1579:
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LeBow is a large supporter of his alma mater, Drexel University. In 1998, Drexel's College of Business and Administration was named the
369:– had represented the Liggett Group in smoking and health litigation since 1996. According to CNN, LeBow was a "substantial donor" to
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Philadelphia Inquirer: "Bennett S. LeBow, a longtime businessman, with a great love for Drexel, his alma mater" By Melissa Dribben
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Ann Arbor News: "Tobacco executive, investor becomes chairman of Borders Group Inc. after $ 25 million deal" By Nathan Bomey
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879:
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Business Wire: "Liggett's Bennett LeBow Honored by Florida Governor Lawton Chiles and Attorney General Robert Butterworth"
123:
LeBow's father, Martin, was a life insurance salesman and his mother, Suara (née Weiss), was a teacher. He graduated from
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for his "invaluable assistance" in helping the state achieve its $ 11.3 billion settlement with the tobacco industry.
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Baltimore Sun: 'Bennett LeBow, flashy financier, 'likes to be in control' RTC Setting the agenda for tobacco industry"
135:. Before completing his degree, LeBow left Princeton and joined the army where he installed early data systems at the
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393:. The yacht, which was 177 feet (54 m) long, was considered one of the ten largest private yachts in 1993.
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196:. The bid was rejected by shareholders, who were skeptical due to LeBow's "dubious reputation as a manager."
124:
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Liggett's Bennett LeBow Honored by Florida Governor Lawton Chiles and Attorney General Robert Butterworth
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million. In 2016, LeBow bought an 8,000-square-foot (740 m), five-bedroom unit on the 64th floor of
1259:: "A Cosmetics Heir's Joint Venture Is Tainted by Ukrainian's Past" by Douglas Frantz and Raymond Bonner
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Group and Rabinovich were participating in the development of a business center and luxury hotel in
538:
648:. May 6, 2001. "LeBow, who is Jewish, even brought in a rabbi to say a prayer for the dead deal".
564:: "Turnaround Artist: Bennett S. LeBow; Collecting Wall Street's Wallflowers" By Barnaby J. Feder
346:
345:, though this did not become public knowledge until 1997. Rabinovich was alleged to have ties to
746:
Ann Arbor News: "Tobacco executive Bennett LeBow takes control of Borders Group" By Nathan Bomey
361:. In 2009, LeBow made a $ 10,000 campaign contribution to Manhattan District Attorney candidate
1856:
1612:
768:: "Bookseller Borders Begins a New Chapter...11" By Joseph Checkler and Jeffrey A. Trachtenberg
397:
161:
199:
In May 2010, after a $ 25 million investment, he became a member of the board of directors at
103:
is an American businessman and philanthropist. He is the founder and chairman of the board of
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945:
Deposition of Steven Shipe, United States v. Philip Morris, May 21, 2002, 86:22-87:13.
389:
million when the shipyard encountered financial issues) finished Lebow's $ 21 million
111:
in 1986, the company became involved in anti-tobacco lawsuits culminating in the 1998
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From 1993 to 1996, LeBow and his wife Geraldine donated more than $ 65,000 to
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619:"Turnaround Artist: Bennett S. LeBow; Collecting Wall Street's Wallflowers",
601:: "Liggett to Change Its Focus With Shift From Cigarettes" by Anthony Ramirez
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790:: "Borders Bankruptcy: Blow to Bill Ackman, Bennett LeBow" by Shira Ovide
289:
Through Vector Tobacco Inc., LeBow developed the nicotine-free cigarette
244:
193:
1025:"Drexel to receive $ 45 million gift for new center for business school"
189:
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In 1989, Brooke Yachts International Ltd. (which LeBow bought for $ 4
252:
177:
1692:
1519:"Wackenhut heiress buys Fisher Island penthouse for $ 15M (photos)"
400:
in Florida. The penthouse, which was bought by Geraldine for $ 4.25
218:. He owns over 150,000 units of Vector stock, worth $ 7.5 million.
1412:"The Downside to Life in a Supertall Tower: Leaks, Creaks, Breaks"
1293:"Senate investigators pursue Moscow-based former Trump associate"
1225:"A Cosmetics Heir's Joint Venture Is Tainted by Ukrainian's Past"
999:"Drexel Receives $ 10 Million Gift from Alumnus Bennett S. LeBow"
184:, for $ 140 million. In 1987, Liggett bought a majority stake in
1642:
1604:
1325:
Drexel University news: "College Mourns Death of Gerri LeBow"
390:
342:
127:, and in 1960 earned a degree in electrical engineering from
358:
842:: "On Cigarettes, Health, and Lawyers" By Michael Janofsky
326:
for donating more than $ 49 million to charitable causes.
278:
LeBow was honored with a proclamation by Florida governor
1492:
Prosser, Gregory; Kallergis, Katherine (August 7, 2020).
1277:
Leslie Crocker Snyder Accepts Tobacco Executive's Money,
210:, the holding company for Liggett Group, Vector Tobacco,
1348:"What's in a Name? Drexel University's Bennett S. LeBow"
713:
Border's New Chairman: Bad For Business? Sarah Weinman,
32:
481:: "An Entrepreneur's High-Stakes Move" By Glenn Collins
861:
Bloomberg: "Bennett Lebow: Cigarette (Industry) Break"
307:
1580:
LeBow Appears Set to Start A Skirmish for RJR Nabisco
556:
554:
1494:"Wackenhut Scion Pays $ 15M for Fisher Island Condo"
1550:"On Park Avenue, Dizzying Views for $ 44.8 Million"
1379:"On Park Avenue, Dizzying Views for $ 44.8 Million"
1320:
1318:
1184:
Red Mafiya: how the Russian mob has invaded America
1463:"Island of Moguls Is Latest Front in Labor Battle"
1223:Frantz, Douglas; Bonner, Raymond (April 5, 1997).
551:
221:
107:. After LeBow acquired the cigarette manufacturer
810:"Vector Group Ltd. DEF 14A Mar. 12, 2018 4:44 PM"
1768:
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500:
498:
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473:
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1797:American entertainment industry businesspeople
1141:"VISA REVOKED, UKRAINIAN STILL ATTENDED EVENT"
880:"Tobacco Company Paid Competitors Legal Bills"
1710:History of private equity and venture capital
1628:
1605:Drexel University's LeBow College of Business
906:Inside the Tobacco Deal: Bennet LeBow Profile
635:
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1872:Private equity and venture capital investors
1222:
534:
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468:
168:. In 2000, Brooke Group Ltd. was renamed to
259:brought by forty state attorneys general.
131:. LeBow then went on to graduate school at
118:
83:Jacqueline Finkelstein LeBow (2014–present)
1807:American food industry business executives
1635:
1621:
1290:
626:
437:Vector Group Limited: "Board of Directors"
404:million in 1995, was sold in 2020 for $ 15
31:
1001:. Drexel University. 1999. Archived from
525:
371:Donald Trump's 2016 presidential campaign
1180:
456:Summit Towers Condo Association Bulletin
367:Kasowitz, Benson, Torres & Friedman
255:, when he announced that Liggett would
180:manufacturer in the United States, the
16:American businessman and philanthropist
1769:
1547:
1430:
1376:
1291:dos Santos, Nina (February 21, 2019).
1114:from the original on February 13, 2011
901:
899:
820:from the original on November 18, 2023
679:
1817:American manufacturing businesspeople
1787:American chairpersons of corporations
1616:
1342:
1340:
1218:
1216:
1176:
1174:
1135:
1133:
1131:
1129:
675:
673:
539:Britannica Online: "Bennett S. LeBow"
1892:West Philadelphia High School alumni
1837:American tobacco industry executives
1832:American technology company founders
1782:21st-century American businesspeople
1777:20th-century American businesspeople
1433:"LEBOW: THE MIDAS TOUCH THAT WASN'T"
1409:
1237:from the original on October 6, 2016
314:Bennett S. LeBow College of Business
1594:, Business Wire, October 21, 1997.
1556:from the original on March 29, 2024
1529:from the original on March 30, 2024
1473:from the original on March 29, 2024
1443:from the original on March 29, 2024
1410:Chen, Stefanos (February 3, 2021).
1159:from the original on March 10, 2023
1082:from the original on March 27, 2024
896:
333:candidates. In 1995, LeBow invited
308:Philanthropy and political activity
113:Tobacco Master Settlement Agreement
80:Geraldine Cosher LeBow (until 2011)
13:
1572:
1358:from the original on March 1, 2019
1337:
1213:
1171:
1126:
670:
206:LeBow is chairman of the board of
14:
1903:
1598:
1548:Marino, Vivian (April 22, 2016).
1377:Marino, Vivian (April 22, 2016).
1303:from the original on May 18, 2019
1027:. The Philadelphia Inquirer. 2010
682:"Populist Hero or Bottom Feeder?"
680:Kadlec, Daniel (March 31, 1997).
300:In 2005, LeBow resigned from the
293:, a cigarette designed to aid in
257:settle the Medicaid tobacco suits
1862:Businesspeople from Philadelphia
1827:American retail chief executives
1792:American computer businesspeople
1691:
1431:MCKEEL, STUART (July 10, 1993).
376:
1715:Early history of private equity
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222:Tobacco industry and litigation
1523:South Florida Business Journal
613:
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449:
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1:
1107:The Chronicle of Philanthropy
640:"Lebow Turns Over a New Leaf"
423:
323:The Chronicle of Philanthropy
125:West Philadelphia High School
1181:Friedman, Robert I. (2000).
302:Dana–Farber Cancer Institute
7:
1867:Princeton University alumni
1730:Private equity in the 2000s
1725:Private equity in the 1990s
1720:Private equity in the 1980s
10:
1908:
1887:21st-century American Jews
1437:Greensboro News and Record
1102:"No. 23: Bennett S. LeBow"
980:November 18, 2023, at the
773:November 28, 2016, at the
548:retrieved October 25, 2015
446:retrieved October 25, 2015
1738:
1700:
1689:
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1189:Little, Brown and Company
1051:October 20, 2011, at the
663:October 19, 2015, at the
352:with American journalist
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73:
66:Chairman of the board of
62:
54:
39:
30:
23:
1852:Drexel University alumni
1822:American philanthropists
1746:Private equity investors
1330:August 12, 2014, at the
1187:(1st ed.). Boston:
569:August 12, 2016, at the
518:August 10, 2016, at the
486:August 12, 2016, at the
396:LeBow owned property on
152:, Information Displays,
119:Early life and education
965:" Wired, February 2003
788:The Wall Street Journal
766:The Wall Street Journal
442:March 12, 2015, at the
347:Russian organized crime
1847:Drexel Burnham Lambert
1264:March 7, 2017, at the
961:April 8, 2023, at the
911:March 5, 2016, at the
885:July 20, 2018, at the
866:March 7, 2016, at the
847:March 8, 2016, at the
795:July 21, 2016, at the
751:March 4, 2016, at the
732:March 4, 2016, at the
544:June 27, 2014, at the
318:College of Engineering
1147:. February 27, 2024.
956:Come to LeBow Country
717:, September 23, 2010.
606:July 1, 2016, at the
363:Leslie Crocker Snyder
1877:Western Union people
1354:. October 11, 2016.
1191:. pp. 268–269.
623:, September 25, 1988
241:Brown and Williamson
226:LeBow purchased the
166:SkyBox International
133:Princeton University
1802:American financiers
1751:Venture capitalists
1656:Investment strategy
365:, whose law firm –
162:Brigham's Ice Cream
1812:American investors
1588:, August 30, 1995.
1585:The New York Times
1391:on August 23, 2016
1384:The New York Times
1281:, August 25, 2009.
1257:The New York Times
1230:The New York Times
986:The New York Times
932:2016-03-05 at the
891:The New York Times
840:The New York Times
621:The New York Times
599:The New York Times
573:September 25, 1988
562:The New York Times
479:The New York Times
461:2014-08-08 at the
354:Robert I. Friedman
201:Borders Group Inc.
192:to make a bid for
1842:Corporate raiders
1764:
1763:
1756:Corporate raiders
1198:978-0-316-29474-4
1073:Drexel University
1005:on March 22, 2007
988:, March 13, 2005.
799:February 16, 2011
777:February 17, 2011
584:Los Angeles Times
522:November 16, 2010
295:smoking cessation
129:Drexel University
98:
97:
44:Drexel University
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1387:. Archived from
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975:"Er, Never Mind"
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954:Davis, Joshua. "
952:
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937:
936:October 21, 1997
924:
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894:
893:, July 22, 1997.
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335:Vadim Rabinovich
233:tobacco industry
170:Vector Group Ltd
101:Bennett S. LeBow
35:
25:Bennett S. LeBow
21:
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410:432 Park Avenue
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1739:Investor types
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1599:External links
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586:: "Other News"
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234:
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228:Liggett Group
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186:Western Union
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182:Liggett Group
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158:Liggett Group
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150:Western Union
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1543:
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1466:
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1436:
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1389:the original
1382:
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1362:February 28,
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1072:
1066:"The Ledger"
1060:
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1031:November 26,
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1003:the original
993:
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950:
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100:
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68:Vector Group
18:
1882:1938 births
1683:Secondaries
1241:January 31,
1009:October 29,
245:RJR Nabisco
194:RJR Nabisco
58:Businessman
1771:Categories
1279:Daily News
465:March 1992
424:References
416:for $ 44.8
331:Democratic
190:Carl Icahn
148:including
55:Occupation
1678:Mezzanine
1650:investors
1560:March 29,
1533:March 30,
1503:March 30,
1477:March 29,
1447:March 29,
1307:March 29,
1163:March 29,
1153:0190-8286
1086:March 29,
1055:Fall 2004
694:0040-781X
420:million.
382:Capital.
269:addictive
253:Lorillard
178:cigarette
40:Education
1554:Archived
1527:Archived
1471:Archived
1441:Archived
1395:April 9,
1356:Archived
1352:MetroMBA
1328:Archived
1301:Archived
1262:Archived
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1207:43958545
1157:Archived
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604:Archived
567:Archived
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516:Archived
484:Archived
459:Archived
440:Archived
265:immunity
137:Pentagon
91:Children
1702:History
1668:Venture
74:Spouses
1673:Growth
1663:Buyout
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337:to a
291:Quest
249:Loews
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1364:2019
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1193:ISBN
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1088:2024
1033:2010
1011:2007
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