web analytics
October 2, 2014 / 8 Tishri, 5775
At a Glance
News & Views
Sponsored Post
Meir Panim with Soldiers 5774 Roundup: Year of Relief and Service for Israel’s Needy

Meir Panim implements programs that serve Israel’s neediest populations with respect and dignity. Meir Panim also coordinated care packages for families in the South during the Gaza War.



Paul Reichmann, Torah World’s Greatest Philanthropist, Dies


Paul Reichmann

Paul Reichmann

Philanthropist Paul (Moshe) Reichmann, considered the greatest financial supporter of the Torah world, passed away last Friday. He was 83.

Together with his brothers, Edward, Ralph and Albert, he founded the Olympia & York building and property development firm, which by the mid-1980s was the largest developer in the world, and the Reichmanns were one of the world’s richest families.

Reichmann used much of his fortune to support Torah study and observance. In Toronto, he built a number of schools and synagogues which became the center of a thriving Orthodox community.

The Reichmann family donated up to $50 million a year to yeshivas, synagogues and hospitals around the world, according to The New York Times.

All of Olympia & York’s construction projects halted on the Sabbath and all Jewish holidays as well as Christian ones. The company paid overtime for workers on Sundays.

Olympia & York ran into severe trouble in the early 1990s, when London’s Canary Wharf project, the world’s largest property development, remained half empty. In 1992, as Olympia & York collapsed under some $20 billion in debt, Paul Reichmann lost most of his family fortune, though he later regained some of it.

Reichmann was born in Vienna in 1930, two years after his family left Hungary. The family later fled to Paris when Germany annexed Austria, and then to Morocco.

After studying in yeshivas in Britain and Israel, Reichmann worked from 1953 to 1956 as the unpaid educational director of Ozar HaTorah, which runs Jewish day schools.

He and his wife moved to Toronto in 1957, where he joined the family’s Olympia Tile, which later became Olympia & York.

The company built nearly 100 buildings in the Toronto area during its first 15 years of operation.

Reichmann purchased eight Manhattan office buildings in 1977 for more than $300 million; 10 years later they were worth $3 billion. In 1980, the company was tapped to build the World Financial Center in New York.

(JTA, INN, Jewish Press staff)

About the Author:


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

No Responses to “Paul Reichmann, Torah World’s Greatest Philanthropist, Dies”

Comments are closed.

SocialTwist Tell-a-Friend

Current Top Story
Jan Morgan, owner of the Gun Cave Indoor Shooting Range.
Arkansas Shooting Range Declares Itself Muslim-Free Zone’
Latest News Stories
Jan Morgan, owner of the Gun Cave Indoor Shooting Range.

“How then, can anyone say that, the practice of Islam is protected by the U.S. Constitution?”

Jerusalem Mayor Nir Barkat puts cement on the official cornerstone celebrating the reopening of the Tiferet Israel Synagogue in Jerusalem's Old City.

Why doesn’t Obama also label Jerusalem Arabs as “illegitimate settlers?”

Rivlin at Slichot

Israel’s President Ruby Rivlin recites Slichot, the prayers for forgiveness that are said leading up to Yom Kippur. This slichot prayer session was held at the President’s official residence. Speaking of presidential pardons, it would be good if this were the year that Jonathan Pollard was let free.

American university campuses have become fertile ground for seeds of evil.

Letter of protest charges SJP with “harassing and intimidating Jewish students.”

Biden’s new national security adviser dissed Israel in the Democratic party platform and mocks Iran’s danger.

PA leader Abbas demands UN force Israel back to 1949 Armistice Line by Nov. 2016.

Car fires are car fires,” said the Atlantic City fire chief. But the car was parked!

US admits its ‘no-strike if any civilians might be hit’ policy does not apply to its airstrikes against ISIS.

Israeli police revealed on September 30 that they are now investigating the possibility that a fellow Arab worker may have cut the cable that held Arami as he was doing exterior work on a building.

A 14-year-old Dutch Muslim high school student is suspended after posting a video saying he is “from ISIS” and wants to “behead Jews.”

PM Netanyahu and US Pres. Obama met Wednesday evening for 75 minutes at the White House in Washington DC.

Israel talks with building blocks. The Palestinian Authority throws them.

The Palestinian Authority continues to remove its mask and show it is Hamas in sheep’s clothing.

How do some of the other issues Obama discussed in his 2013 U.N. General Assembly speech look through today’s lens?

More Articles from Jewish Press Staff

European rabbi slams assault on Jewish ritual practice as “key tool for anti-Semites.”

The Obama White House has unclenched its fist and allowed the Pentagon to send Israel some Hellfire missiles that were on ‘back order.’

Jerusalem District Police commander Assistant Chief Yossi Pariente has announced that he will step down at the end of his term later this year.

Printed from: http://www.jewishpress.com/news/global/paul-reichmann-torah-worlds-greatest-philanthropist-dies/2013/10/26/

Scan this QR code to visit this page online: