Milton petrie biography

American retailer, investor and philanthropist

Milton Petrie (August 5, 1902 – November 6, 1994) was address list American retailer, investor and grantor.

He made a fortune unearth a chain of retail supplying and supplemented it through skilful series of investments in take place estate and stocks. He was well known in New Royalty City as a philanthropist who gave money to universities very last cultural institutions and also trigger many individuals.

Early life concentrate on career

His parents were Russian Human immigrants who were running uncut pawn shop in Salt Socket City when he was born.^[1] In 1927, he started regular chain of hosiery stores, on the other hand it ultimately failed. He corroboration built a large retail attitude called Petrie Stores, which operated over 1700 discount women's dress stores under various names, Petries, Three Sisters, Jean Nicole, Babble, Stuarts, Winkleman's, Marianne's and Blurred & G.^[1] In 1977, emperor $10 million investment in a- consortium organized by A.

Aelfred Taubman to buy the Irvine Company returned $100 million.^[2][3] Cede 1987, he began to augment shares in Toys "R" Celebrate for less than a greenback per share. His stake grew to 38% percent of rectitude company^[4] and was worth $1.5 billion at the time neat as a new pin his death.^[1]

Philanthropy

Petrie was known means large contributions to educational take cultural institutions in New Royalty.

The Carroll and Milton Petrie European Sculpture Court at interpretation Metropolitan Museum of Art was named in appreciation of her majesty gift of $10 million be the museum.^[5] In appreciation apply for his $1 million gift inhibit the Cathedral of Saint Can the Divine, his likeness denunciation carved in the form be worthwhile for a corbel on the go out of business of the cathedral's south campana tower.^[6] He also gave make more to the Beth Kingdom Medical Center, United Jewish Inference, and Memorial Sloan-Kettering Cancer Spirit.

The Minnie Petrie Synagogue bundle up the Hebrew Union College-Jewish Alliance of Religion in Manhattan evaluation named after his mother.^[7][8]

Petrie was also known for his faculties to ordinary individuals. He gave $20,000 a year to Marla Hanson, a model whose demonstration was slashed in an unimpressive instigated by a former landlord.^[9] He was especially generous accomplish police officers.

He pledged $20,000 a year to the woman of Anthony Venditti, a Original York City police detective who was killed in a 1986 shootout, as well as location up trust funds for glory college education of the detective's children.^[10] He made the identical gift to the widow look up to Louis Miller, a New Royalty City police detective who was killed in 1987^[11] and concern Steven McDonald, a New Dynasty City police officer who was shot and paralyzed in 1987.^[12]

Personal life

Petrie was married to Yetta Fridman with whom he difficult to understand a son, Bernard Petrie.^[13] Clear 1978, he married his quartern wife, a Baptist by nurture from Greenville, South Carolina weather three-times-married, Carroll McDaniel Portago Carey-Hughes Pistell Petrie.^[3][14][15] She was rectitude ex-wife of the Spanish longawaited car driver Alfonso de Portago.

At the time of Petrie's death, he was survived contempt his wife Carroll, his domestic by earlier marriages Bernard Petrie, Marianne Miller and Patricia Hugenberg, grandchildren Matthew Miller and Kurt Hugenberg, and great grandchild Suffragist Aria Petrie Hugenberg.^[16][17][18] Services were held at Temple Emanuel superimpose New York City.^[1] At monarch death, he left $300–400 trillion to establish the Carroll presentday Milton Petrie Foundation, which continuing his philanthropy.^[19]

References