Sidney Weinberg (1891 - July 23, 1969) was a long-time leader of the Wall Street firm Goldman Sachs. Events 1632 - Three hundred colonists bound for New France depart from Dieppe France. Year 1969 ( MCMLXIX) was a Common year starting on Wednesday (link will display full calendar of the Gregorian calendar. The Goldman Sachs Group Inc, or simply Goldman Sachs ( is a large global Bank holding company that engages in Investment banking securities In a rags-to-riches story, he rose from janitor to CEO. The term "Rags to Riches" refers to any situation in which a person rises from Poverty to Wealth, or sometimes from obscurity to fame A chief executive officer ( CEO) or chief executive is typically the highest-ranking corporate officer ( executive) or administrator
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Early life
Weinberg's background contrasted sharply with that of the traditional Ivy League Wall Streeter. Weinberg was one of eleven children of a wholesale liquor dealer and never got farther than P. S. 13. His family were active members of Congregation Baith Israel Anshei Emes in Brooklyn, joining when the synagogue was on Beorum Place, and remaining with it when it moved to Cobble Hill. Congregation Baith Israel Anshei Emes, or Baith Israel-Anshei Emeth ("House of Israel – People of Truth" more commonly known as the Kane Street Synagogue Brooklyn (named after the Dutch town Breukelen) is one of the five boroughs of New York City. Cobble Hill is a neighborhood in the New York City borough of Brooklyn, USA Sidney's mother, Sophie, was sisterhood president from 1912 to 1913, his father, Pincus, served as president from 1919 to 1921, and the children all attended the Sunday school and Talmud Torah. Talmud Torah schools were created in the Jewish world both Ashkenazic and Sephardic, as a form of public primary School for boys of modest backgrounds Sidney married Helen W. Livingston there in 1920. [1][2]
Career at Goldman Sachs
Weinberg started with Goldman Sachs as a $3-a-week porter's assistant. After a World War I stint in the Navy, he became a securities trader. He became a Goldman Sachs partner in 1927 and helped run the investment trusts, including Goldman, Sachs Trading Corp. The share price fell from $232 to $2 after the Wall Street Crash of 1929. The Wall Street Crash of 1929, also known as the ’29 Crash, the Crash of 1929, the Great Crash of 1929, the Great Crash of October 1929 Weinberg became head of the firm in 1930, saving it from bankruptcy, and held that position until his death in 1969.
Family
Weinberg had two children, John Livingston Weinberg and Sidney J. "Jim" Weinberg, Jr.
Notes
- ^ Barton, Evan. "Brooklyn’s Oldest Synagogue Celebrates Its 150th Anniversary", Brooklyn Eagle, June 22, 2006. The Brooklyn Eagle, also called The Brooklyn Daily Eagle, was a daily newspaper published in Brooklyn, New York from October 26
- ^ Levin, Carol. "The Weinberg Family: Leaders during the Synagogue’s Golden Age"PDF (77. 1 KB), The Synagogue Journal, Kane Street Synagogue, Issue 11, March 17, 2006.
External links
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