241:, where they first expanded Edward's tile business but then moved into construction and property development. Samuel was the leader of this business that became known as York Developments. Albert and Paul played a secondary but central role, while Ralph remained in charge of the tile business. In the late 1960s, Edward's Montreal business was faltering and on the verge of collapse. He was only saved from ruin by a bail-out from his younger brothers in Toronto. Embarrassed at this turn of events Edward left Canada for
263:
and management firm in the world in the 1980s, and the
Reichmanns one of the world's richest families. (At the family's peak, their combined wealth was estimated at $ 13bn, making them the fourth-richest family on the planet.) Holdings of O&Y included
298:, who had seen the transformation of the World Financial Centre, enlisted Paul to transform the docklands of Canary Wharf into a financial powerhouse. This project proved catastrophic, as banks were reluctant to move three miles east of the
313:
and bought back First
Canadian Place. Reichmann and Hauer sold their company in 2005. Since then, the family has continued to be involved in tiles and stone, retirement care, and real-estate development deals around the world.
108:
At the family's peak, their combined wealth was estimated at $ 13 billion making them the fourth-richest family in the world. The family's fortunes eventually waned, particularly with the ill-fated
112:
development, which saw the family business file for bankruptcy in 1992 with debts of $ 20 billion. The family's wealth partially recovered, reaching roughly $ 2.3 billion in 2018.
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747:"THE MAN WHO BLEW $ 10 BILLION It's not every real estate developer who can boast of losses on the grand scale of Paul Reichmann. In a rare interview he admits that
187:, in the 1950s. There, Samuel became a prominent business leader specializing in the currency trade. Renée became a renowned humanitarian aiding victims of the
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In the early 1990s, the business empire and family's fortune was brought low by the Canary Wharf project in London. In 1987, British Prime
Minister
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in London. In 1980, they bought
English Property Corp, one of the largest British developers. In 1981, they bought
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in the biggest corporate failure of all time—with debts of $ 20bn—and the
Reichmann fortune was greatly reduced.
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real-estate company entirely controlled by the family; in 1976, the company began operations in the US.
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In 1997, Albert's son Philip
Reichmann and Paul’s son-in-law Frank Hauer relaunched the company as
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Louis
Reichmann (b. May 5, 1927, Beled, Hungary – May 25, 2005), m. 1951 to Marika (b. 1933,
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Despite the financial success of life in
Tangier the family left to avoid the turbulence of
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Over time, through successful projects in
Toronto and New York, O&Y became the largest
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and opportunity for profits; soon the rest of the family followed him to Canada in 1956.
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The
Reichmanns: Family, Faith, Fortune, and the Empire of Olympia & York
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Louis joined Edward in Montreal while Albert, Paul, and Ralph settled in
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Throughout this time, the family remained strongly committed to their
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826:"Billionaire businessman never veered from religious observation"
622:"Billionaire businessman never veered from religious observation"
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from Europe. Edward described Montreal fondly, with its large
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family best known for their property empire built through the
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415:(September 27, 1930, Vienna, Austria – October 25, 2013,
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The Reichman(n)s were originally from the small town of
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Gindin, Matthew; Correspondent, Pacific (2017-08-18).
284:, in the second-largest takeover in Canadian history.
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751:But that's right where it belongs. - May 17, 1993"
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802:"Tributes after death of Canary Wharf developer"
778:"Reichmanns Rebound | The Canadian Encyclopedia"
546:"Canada's Richest People: The Reichmann family"
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666:"Reichmann Family | The Canadian Encyclopedia"
567:"Reichmann Family | The Canadian Encyclopedia"
691:"Rival bidders moving in on Canary Wharf"
512:"Rival bidders moving in on Canary Wharf"
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324:Samuel Reichmann (1898 – 1975), m. Renée
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80:Reichmann International Development,
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248:In 1969, the family incorporated
224:Olympia Flooring and Tile Company
426:Rachel Reichmann, m. Frank Hauer
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423:), m. 1955–2013 to Lea Feldman
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689:Adams, Richard (2003-06-07).
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222:. There, in 1955, he founded
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179:, the family fled first to
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715:"Saviour of the docklands"
471:Ari, Tamar, Sharona, Adina
441:Ari, Sharona, Tamar, Adina
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865:. New York: Times Books.
848:The Canadian Encyclopedia
171:Ezriel Reichmann (b.1938)
168:Ralph Reichmann (b. 1933)
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945:Jewish Hungarian history
925:Jewish-Canadian families
861:Bianco, Anthony (1997).
626:The Canadian Jewish News
915:Canadian businesspeople
311:O&Y Properties Inc.
920:English businesspeople
905:Israeli businesspeople
749:the blame is all mine.
270:World Financial Centre
381:– December 17, 2022,
282:Gulf Canada Resources
218:while Edward went to
208:Moroccan independence
266:First Canadian Place
261:property development
132:moved the family to
128:, but the ambitious
806:www.telegraph.co.uk
591:"Faith And Fortune"
212:French protectorate
193:concentration camps
940:Hungarian families
650:has generic name (
272:in Manhattan, and
250:Olympia & York
201:Auschwitz-Birkenau
144:Heller; 1923–1984)
935:Austrian families
900:Business families
828:. 18 August 2017.
550:Canadian Business
449:Abraham Reichmann
359:Charles Reichmann
296:Margaret Thatcher
278:Abitibi-Price Inc
232:Jewish population
214:. Eva settled in
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185:Tangier, Morocco
177:Second World War
157:Albert Reichmann
148:Edward Reichmann
130:Samuel Reichmann
103:Olympia and York
95:Reichmann family
82:Olympia and York
63:Albert Reichmann
58:Edward Reichmann
22:Reichmann family
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695:the Guardian
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648:|last2=
629:. Retrieved
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599:. Retrieved
597:. 1997-01-20
594:
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574:. Retrieved
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520:. Retrieved
518:. 2003-06-07
516:the Guardian
515:
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401:Libby Gross
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274:Canary Wharf
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142:married name
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110:Canary Wharf
107:
94:
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86:Canary Wharf
365:Golda Gross
356:, Hungary)
318:Family tree
175:During the
165:(1930–2013)
159:(1929–2022)
150:(1925–2005)
884:Categories
811:2021-09-28
787:2021-09-19
760:2020-08-04
732:2020-08-04
700:2018-11-11
675:2021-09-28
631:2021-09-28
601:2021-09-28
576:2021-09-19
522:2021-09-28
498:References
354:Békéscsaba
304:bankruptcy
226:to import
77:Properties
727:0013-0613
487:Reichmann
210:from the
189:Holocaust
105:company.
640:cite web
481:See also
220:Montreal
195:such as
461:
417:Toronto
406:
383:Toronto
379:Austria
373:(1929,
343:Hungary
337:(1925,
239:Toronto
126:Hungary
116:History
51:Members
45:Hungary
27:Country
869:
725:
421:Canada
387:Canada
375:Vienna
347:Israel
268:, the
243:Israel
216:London
31:Canada
339:Beled
228:tiles
122:Beled
97:is a
41:Beled
867:ISBN
723:ISSN
652:help
199:and
93:The
845:at
886::
804:.
780:.
769:^
753:.
721:.
717:.
693:.
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644::
642:}}
638:{{
624:.
610:^
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458:c.
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