 |
Alfred TaubmanAmerican businessman
Country:
 USA |
Content:
- Alfred Taubman: American Entrepreneur
- Marriage and Family
- Business Career
- Sotheby's:
- Controversies and Legal Troubles
- Philanthropy
- Net Worth and Legacy
Alfred Taubman: American Entrepreneur
Early Life and EducationAlfred Taubman was born in Michigan in 1924 to German-Jewish immigrants from Poland. He attempted higher education at the University of Michigan and Lawrence Technological University but failed to graduate from either institution.
Marriage and Family
Taubman is married to Judy Mazor, a former Miss Israel beauty pageant winner. The couple resides in their mansion in Bloomfield Hills and has three children.
Business Career
A&W Restaurants:In the early 1980s, Taubman founded the A&W restaurant chain. However, he sold the company to Sagittarius Acquisitions in December 1994.
Sotheby's:
In 1983, Taubman acquired the renowned Sotheby's auction house, rescuing it from a hostile takeover by Marshall Cogan and Stephen Swid. He successfully revived Sotheby's, which had lost significant clientele in the early 1980s.
Controversies and Legal Troubles
Taubman's business dealings have been marred by allegations of improprieties and illegal activities. In 2002, he was convicted of antitrust violations, leading to a $7.5 million fine and a one-year prison sentence.
The antitrust investigation revealed that Taubman had conspired with Christie's auction house owner Anthony Tennant to fix prices for antique paintings. Tennant cooperated with authorities during the investigation, implicating Taubman in the scheme.
Taubman served approximately nine months in federal prison before being released.
Philanthropy
Despite the controversies, Taubman is also known for his philanthropy. He has donated substantial funds to healthcare facilities, libraries, and educational institutions.
Among his major contributions are his donations to the University of Michigan, the Taubman Medical Library, the Taubman Health Center, and the Taubman College of Architecture and Urban Planning. His most recent donation was $5 million to support research by Dr. Eva Feldman and Dr. Ehoaash Raphael on hearing loss and Lou Gehrig's disease.
Net Worth and Legacy
As of 2023, Alfred Taubman's net worth is estimated at $1.7 billion. He is remembered as a complex and controversial figure in the business world, with a legacy marked by both success and legal challenges.
