David Gottesman Net Worth
According to online sources, David Gottesman's (American businessman, billionaire, and philanthropist) currently has an estimated net worth of $3 Million Dollars . David Gottesman net worth is largely the result of his success as an American businessman, billionaire, and philanthropist.
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Real Name
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David Sanford "Sandy" Gottesman
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Estimated Net Worth (2024)
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$3 Million Dollars
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Profession
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American businessman, billionaire, and philanthropist
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Date of Birth
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26 April 1926
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Birth Place
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New York, United States
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Age
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96 years old (At the time of death)
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Nationality
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American
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Who was David Gottesman?
David Sanford "Sandy" Gottesman, an esteemed American businessman, billionaire, and philanthropist, left an indelible mark on the world of finance and investment. Born on April 26, 1926, in New York City, he embarked on a remarkable journey that spanned decades and earned him a reputation as a visionary entrepreneur.
Gottesman's legacy was profoundly shaped by his role as the founder of First Manhattan Co. (FMC), a testament to his acumen in the realm of business. His influence extended beyond the boardroom, as he became known for his enduring friendship with the legendary investor Warren Buffett. This connection further underscored Gottesman's stature in financial circles.
A distinguished alumnus, Gottesman earned his Bachelor of Arts from Trinity College before pursuing his Master of Business Administration (MBA) at Harvard University. Armed with a solid educational foundation, he ventured into the world of business and investing, ultimately leaving an indelible impact on both.
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Name
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David Gottesman
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Date of Birth
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26 April 1926
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Age
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96 years old (At the time of death)
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Birth Place
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New York, United States
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Gender
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Male
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Profession
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American businessman, billionaire, and philanthropist
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Nationality
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American
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Parents
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Esther Gottesman
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David Gottesman Early Life
- Family Background: Sandy Gottesman, born on April 26, 1926, in New York City, hailed from a Jewish family. His father, Benjamin, was engaged in banking and investing, while his mother, Esther (née Garfunkel), played a notable role in securing the Dead Sea Scrolls for Israel. His family connections extended to Barrett Visanska, a founder of the Tree of Life Congregation in South Carolina, and Samuel Gottesman, an influential pulp-paper merchant and philanthropist.
- Siblings and Relatives: Gottesman had two siblings, Milton Gottesman and Alice Gottesman Bayer. He also counted Samuel Gottesman, a notable figure in the world of pulp-paper and philanthropy, as his uncle. The family later relocated to New Rochelle, New York, during Gottesman's childhood.
- Military Service: After completing high school, Gottesman enlisted in the US Army. Initially sent to Princeton University for engineering studies, he was later deployed to the South Pacific theater in 1945 during World War II.
- Educational Pursuits: Following an honorable discharge from military service, Gottesman pursued higher education. He obtained a bachelor's degree from Trinity College, showcasing his commitment to academic excellence and intellectual development.
- Business Ventures: Gottesman's entrepreneurial spirit led him to found First Manhattan Co. (FMC), a significant contribution to the world of finance and investment. His prowess as a businessman and investor, highlighted by his early investment in Berkshire Hathaway, set the stage for a distinguished career.
- Friendship with Warren Buffett: Notably, Gottesman's friendship with Warren Buffett, a legendary investor, added to his reputation in financial circles. Their camaraderie underscored Gottesman's standing as a respected figure in the investment community.
- Philanthropic Inclinations: Beyond his business endeavors, Gottesman's commitment to philanthropy was evident. His family's involvement in various charitable pursuits, coupled with his own contributions, showcased a holistic approach to making a positive impact on society.
- Later Life and Legacy: Sandy Gottesman passed away on September 28, 2022, in Rye, New York, at the age of 96. His enduring legacy encompasses not only his business achievements but also his family's significant contributions and his dedication to serving his country during World War II.
David Gottesman Career
- Early Career at Hallgarten & Company: After graduating, Gottesman commenced his professional journey at Hallgarten & Company, specializing in mergers and acquisitions. His tenure at the firm spanned approximately a decade, providing him with valuable experience in the intricacies of financial transactions.
- Introduction to Warren Buffett: In 1963, a pivotal moment in Gottesman's career occurred when he was introduced to Warren Buffett at a Wall Street club lunch. A mutual friend recognized their shared approach to purchasing value stocks, laying the foundation for a lasting friendship and business partnership.
- Friendship and Business Collaboration: Gottesman and Buffett's friendship extended beyond the boardroom. They enjoyed playing golf together and engaged in regular Sunday night phone conversations to discuss potential stock investments. This camaraderie became a cornerstone of their enduring professional relationship.
- Founding of First Manhattan Co.: In 1964, Gottesman took a significant step in his career by founding the investment advisory firm First Manhattan Co. This venture marked the beginning of his independent foray into the financial industry.
- Role as an Early Investor in Berkshire Hathaway: Gottesman's foresight and investment acumen were evident in his early investment in Berkshire Hathaway. He and Buffett co-invested in Diversified Retailing Co., a venture established to acquire private retail companies. Despite an initial setback with the acquisition of Hochschild Kohn's, they successfully navigated the challenges.
- Diversified Retailing Merger with Berkshire Hathaway: In 1978, Diversified Retailing, the company founded by Gottesman, Buffett, and Charlie Munger, merged with Berkshire Hathaway. This strategic move contributed to the growth and consolidation of both entities in the financial landscape.
- Significant Holdings in Berkshire Hathaway: As of March 2021, Gottesman held a substantial stake in Berkshire Hathaway, owning 17,202 class A shares and over two million class B shares. This investment played a pivotal role in his overall wealth, and he reflected on the remarkable returns, stating it might be unparalleled in Wall Street history.
- Berkshire Hathaway Board Membership: Recognizing Gottesman's expertise and contributions, he joined the Berkshire Hathaway board of directors in 2003. This position solidified his role in shaping the company's strategic decisions and direction.
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