Bennett S. LeBow
| Bennett S. LeBow | |
|---|---|
| Born | 1937 (age 79–80) |
| Residence | Philadelphia, Pennsylvania |
| Nationality | United States |
| Education | B.S. Drexel University |
| Occupation | Businessman |
| Known for | Chairman of the Board of Vector Group |
| Spouse(s) | Jacqueline Finkelstein LeBow |
| Children | two daughters |
| Parent(s) | Suara and Martin LeBow |
Bennett S. LeBow is an American businessman and philanthropist. He is the current Chairman of the Board of Vector Group (: VGR)
LeBow was born to a Jewish family, the son of Suara and Martin LeBow. His father was a life insurance salesman and his mother a teacher. He graduated from West Philadelphia High School and in 1960, earned a degree in electrical engineering from Drexel University. LeBow then went on to graduate school at Princeton University. Before completing his degree, LeBow left Princeton and joined the army where he installed early data systems at the Pentagon. LeBow's first foray into business occurred in the 1960s when he started a computer company to continue his Pentagon project. LeBow eventually sold the business in 1971 for a profit and became a full-time investor. In 1980 he founded the investment holding company Brooke Group Ltd. LeBow went on to purchase many companies including: Western Union, Information Displays, MAI Basic Four, Liggett Group, Brigham's Ice Cream, and the trading card company, SkyBox International (which he sold to Marvel). In 2000, Brooke Group Ltd. was renamed Vector Group Ltd.
In 1986, he purchased the 5th largest cigarette manufacturer in the United States, the Liggett Group for $140 million. In 1993, Lebow stated under sworn testimony that since cigarettes are a legal product and people choose to use them, whether or not that they cause cancer is irrelevant. In 1996, while under his leadership, Liggett Group broke ranks with the rest of the US tobacco industry, including Philip Morris, Brown and Williamson, RJR Nabisco, Loews and Lorillard, when he announced that Liggett would settle the Medicaid tobacco suits brought by forty state attorneys general. Liggett had previously been accused of being illegally influenced by Philip Morris which allegedly paid some of Liggett's legal bills in order to buy its cooperation in anti-tobacco lawsuits. LeBow stated that the reason for the settlement was to obtain immunity for Liggett from future liabilities and to prevent a future bankruptcy. The settlement entailed that Liggett agree to pay $1 million in damages; publicly announce that smoking is addictive and causes cancer; turn over long-secret tobacco industry documents; disclose ingredients in its cigarettes; and testify against the industry. Liggett was the first cigarette company to voluntarily put the label "Nicotine is Addictive" on their product.
...
Wikipedia