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TIME: Almanac 1995
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TIME Almanac 1995.iso
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1994-03-25
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<text id=90TT3100>
<title>
Nov. 19, 1990: Business Notes:Philanthropy
</title>
<history>
TIME--The Weekly Newsmagazine--1990
Nov. 19, 1990 The Untouchables
</history>
<article>
<source>Time Magazine</source>
<hdr>
BUSINESS, Page 85
Business Notes
PHILANTHROPY
In the End, a Friend Indeed
</hdr>
<body>
<p> Harry Weinberg was a pugnacious businessman who probably
had his share of enemies when he was alive. But the real estate
baron made a final gesture that will win him friends for years
to come. Weinberg, who died last week at 82, willed nearly $1
billion to a family trust to help the poor. The sum represents
his entire estate, except for $3 million he left his
grandchildren. The trust will distribute up to $45 million a
year to the needy as Weinberg dictated: one-quarter to Jewish
charities, one-quarter to non-Jewish groups and the rest to
organizations that serve the poor, regardless of race or
religion.
</p>
<p> A grammar school dropout, Weinberg built his fortune by
buying Baltimore real estate at bargain prices and later
investing in transit companies and Hawaiian properties.
Weinberg's largesse was not entirely a surprise. During a 1984
visit to Israel, he donated $1 million to buy air conditioners
for the country's nursing homes.
</p>
</body>
</article>
</text>