Louis Bamberger
Louis Bamberger (born May 15, 1855 in Baltimore , † March 11, 1944 ) was an American businessman and philanthropist . He was the founder and financier of the Institute for Advanced Study with Abraham Flexner . Bamberger had German-Jewish ancestors. His parents were Elkan Bamberger and Theresa Hutzler. Bamberger came to Newark (New Jersey) in 1892 , initially took over a shop that had previously gone bankrupt and turned it into a successful department store. The main store, newly built in 1912, took up an entire block. At the height of its success it employed 2,800 people. When he sold his department store to Macy’s in 1929 , it was the fourth largest in the US with $ 28 million in sales. Macy kept the Bamberger name in its New Jersey branches until 1986. From the proceeds of the sale, Bamberger shared $ 1 million among his 240 employees.
He also founded radio station WOR in Newark in 1922 .
He was a philanthropist who made donations to the local Newark Museum, Jewish organizations, hospitals like Beth Israel Hospital, and other non-profit causes. The most momentous was a donation of five million dollars that he made with his widowed sister Caroline Bamberger Fuld for the establishment of the Institute for Advanced Study in 1930. During the time of National Socialist persecution, he helped many Jews to flee Germany.
He was personally cautious and liked to stay in the background as a donor. He was never married. The flags of Newark were at half mast for three days when he died.
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| personal data | |
|---|---|
| SURNAME | Bamberger, Louis |
| BRIEF DESCRIPTION | American businessman and philanthropist |
| DATE OF BIRTH | May 15, 1855 |
| PLACE OF BIRTH | Baltimore |
| DATE OF DEATH | March 11, 1944 |