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Louis Bamberger
American businessman and philanthropist (1855-1944) From Wikipedia, the free encyclopedia
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Louis Bamberger (15 May 1855 – 11 March 1944) was an American businessman and philanthropist who co-founded the Bamberger's department store in Newark, New Jersey.[1][2] He and his sister Caroline Bamberger Fuld co-founded the Institute for Advanced Study in Princeton, New Jersey.[1][2] At his death all flags in Newark were flown at half-staff for three days, and his large department store closed for a day.[2]
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Early life
Louis Bamberger was born in 1855 to a German Jewish family in Baltimore, Maryland, the son of Theresa (née Hutzler) and Elkan Bamberger.[1][2] His mother belonged to the family that ran Hutzler Brothers in Baltimore.[1] His grandfather was Moses Hutzler.[1] He had six siblings: Caroline Bamberger Fuld; Clara "Lavinia" Bamberger; Rosa Bamberger; Julius Bamberger; Pauline Bamberger; and Julia Bamberger.[3]
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Bamberger's
He came to Newark in 1892 and bought at auction a failing general goods store on Market Street, renaming it L. Bamberger & Company,[1][2] with his partners, brothers-in-law Felix Fuld and Louis M. Frank.[4][2] The store was an immediate success, and Bamberger was able to open an ornate chateauesque building in 1912 that covered a whole city block.[2] For decades, Bamberger’s clock was the downtown meeting place for Newarkers.[2] In 1928, the store's sales were $28 million (equivalent to $513 million in 2024), making it the fourth highest grossing store in the United States.[5]
In 1929, Bamberger sold his department store to R.H. Macy and Company, which kept the original Bamberger name. Bamberger knew that he owed his success to hundreds of able employees, and split $1 million among 240 employees. The Bamberger name remained in use for the stores in the New Jersey division of Macy's until 1986.[2]
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Charitable work
Bamberger supported both secular and Jewish charities. Bamberger personally funded the buildings for Newark’s YMHA, the Newark Museum, and the New Jersey Historical Society.[2] He worked to help persecuted Jews escape from Germany's Third Reich.[5] Bamberger was also a major contributor to the Community Chest and Beth Israel Hospital.[5]
Institute for Advanced Study
Bamberger and his sister Caroline Bamberger Fuld worked with Abraham Flexner to found the Institute for Advanced Study in Princeton, New Jersey.[6] They gave a $5 million endowment to the Institute. Upon Bamberger's death the bulk of his estate was left to the Institute.[1]
Personal life
Bamberger was a shy man who never married and focused on running his store.[1][2] His partner Felix Fuld was the more outgoing of the two, and his sister Caroline Bamberger Fuld was most involved in the charity activities of the family.[1]
Legacy and honors
- The World War II Liberty Ship SS Louis Bamberger was named in his honor.
References
External links
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