Bennett S. LeBow
CEO of Borders Group
Education
- Graduated - West Philadelphia High School
- Degree in electrical engineering - Drexel University
Overview
Bennett S. LeBow is a CEO of Borders Group, Inc.(BGP)
is an American businessman, investor, and philanthropist known for investing in and restructuring distressed companies in industries as wide-ranging as real estate, consumer goods, technology, financial services, and retail. He is the founder and current chairman of the board of Vector Group.
Business career :
LeBow's first foray into business occurred in the 1960s when he started a computer company, DSI Systems, Inc., to continue his Pentagon projects. After selling DSI in 1971, LeBow became an advisor to high-tech companies, frequently investing in them as well. In 1980, LeBow founded Brooke Partners, LP as an investment vehicle to invest in and turnaround distressed companies with the assistance of the investment bank Drexel Burnham Lambert, which owned 15 percent. LeBow, initially backed by financing provided by Michael Milken's high-yield bond department, went on to acquire and invest in a number of notable companies including: RJR Nabisco, Western Union, MAI Basic Four, Liggett Group, Douglas Elliman, Borders Books, Brigham's Ice Cream, and the trading card company, SkyBox International (which he later sold to Marvel).
Early Life
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. After graduating from Drexel University, LeBow entered a doctorate degree program at Princeton University, where he also taught logic design of computer systems. Before completing his PhD, LeBow left Princeton and joined the United States Army where he worked as a computer analyst at the Pentagon. LeBow served in the Pentagon initially as a First lieutenant and subsequently as a civilian, ultimately serving as the deputy to the Assistant Vice Chief of Staff of the United States Army.
Career
- Borders Group - CEO