Morton Mandel, Jewish philanthropist, dies at 98
Self-made billionaire supported range of leadership, educational initiatives
Morton Mandel, a Jewish-American self-made billionaire businessman and renowned philanthropist, died at his Florida home on Wednesday morning. He was 98.
Born in Cleveland in 1921 to struggling Jewish immigrant parents from Eastern Europe, Mandel first worked during his teenage years as a food vendor at Cleveland Municipal Stadium.
Although he received a scholarship to study chemistry at Adelbert College (now Case Western Reserve University), he dropped out in 1940 to purchase a car parts shop from his uncle for $900, together with his brothers, Jack and Joseph. The company, which evolved into leading electric component supplier Premier Industrial Corporation, merged with British distributor Farnell Electronics to form Premier Farnell in a $3 billion deal in 1996.
Spanning almost eight decades, Mandel’s business career and subsequent philanthropic endeavors supported a range of social leadership, educational and Jewish community initiatives worldwide, including many in Israel.
President Reuven Rivlin paid tribute to Mandel, describing the philanthropist as a “dear and beloved friend; a fine Jew who loved his people.”
Together with his brothers, Mandel established and chaired the Jack, Joseph and Morton Mandel Foundation in 1953 to fund leadership educational programs, both in partnership with academic institutions and at the foundation’s own institutions.
Generous donations enabled the establishment of numerous centers of education, including the Mandel Center for Studies in Jewish Education at Brandeis University and the Mandel Institute for Nonprofit Leadership, as well as Cleveland Neighborhood Progress.
In 1991, Mandel established the Jack, Joseph and Morton Mandel Foundation – Israel. The Jerusalem-headquartered foundation is estimated to have donated over $500 million to Israeli causes.
During almost three decades of activity, the foundation has established initiatives including the Mandel Leadership Institute in Jerusalem, the Mandel IDF Educational Leadership Program and a range of programs for leadership in the ultra-Orthodox community and Israel’s geographic and social peripheries. The foundation has also sponsored the establishment of centers at the Hebrew University of Jerusalem, Tel Aviv University and Bezalel Academy of Arts and Design.
Jewish Agency Chairman Isaac Herzog said he had “truly loved” Mandel, who had been a “great friend” to him and his parents Aura and the late-president Chaim Herzog.
“He left a huge legacy as a lover of Israel, as a Jewish leader, as a philanthropist making change,” said Herzog. “He will be remembered for his leadership, innovative thinking and his passion for Israel and the Jewish people. The Jewish Agency sends our deepest condolences to his wife, Barbara, his children and entire family, and the leaders and staff at the Jack, Joseph and Morton Mandel Foundation.”
With a view to investing in Israeli industry and fostering employment opportunities, especially in the periphery, Mandel established the Israel Equity Limited Group (IEL) in 2003. The group’s target was to acquire poorly-managed Israeli firms and improve their profitability.
“Today, we say farewell to a dear man, a visionary and a true Zionist, who has worked extensively for the State of Israel,” said Amnon Cohen, the chief executive of IEL, which currently owns Yeruham-based Phoenicia Glass Industries and medical service provider Bikurofe, and holds shares in Petah Tikva-headquartered packaging solutions company Tadbik.
Speaking to The Jerusalem Post in 2014, Mandel expressed his desire to acquire additional companies that are failing and to “fix them up.”
Mandel is survived by his wife, Barbara, three children and seven grandchildren.