Ruth Gottesman
Left to Right : Debbie Bosanek ( assistant to Warren Buffett ), Sandy Gottesman , Warren Buffett and Ruth Gottesman .
It is with heavy hearts that we share the news of the passing of our founder David Sanford ‘ Sandy ’ Gottesman on September 28 , 2022 , at age 96 . He made an immeasurable and lasting impact as a husband , father , businessman , investor , mentor and philanthropist .
Sandy was the visionary behind First Manhattan and an extraordinary leader of the firm . Beyond his investing acumen , Sandy was known for his integrity , intellectual curiosity and his extensive philanthropy . His ability to mentor those around him to professional and personal excellence and his commitment to the highest ethical standards forged the culture on which First Manhattan prides itself today .
James Russell Kelly is Director of the Gabelli Center for Global Security Analysis and Senior Lecturer in Finance at Fordham University . civic improvement projects , education and health , both in the United States and Israel . Among them are the following :
• The Gottesman Family Israel Aquarium in Jerusalem . This is Israel ’ s first aquarium and focuses on the preservation of aquatic habitats and the environment in Israel .
• The American Museum of Natural History . Sandy was a trustee for 30 years and a major benefactor . The Hall of Planet Earth and the Research Library and Learning Center both bear the names David S . and Ruth L . Gottesman .
• The National Library of Israel . Sandy enthusiastically joined the government of Israel and the Rothschild family through their Yad Hanadiv Foundation to help build the new home of the National Library of Israel , that , in his words , “ would allow the National Library to take its place among the great libraries of the world .”
• The Gottesman Pool and Rink , part of the Harlem Meer Center Restoration . This is the most significant and complex project ever undertaken by the Central Park Conservancy ; it will transform the Rink and Pool site at the north end of
Central Park as a vital resource for the surrounding community .
• Mount Sinai Hospital . Sandy was a loyal trustee and benefactor for more than 30 years , supporting a host of projects . The most recent gift was to establish the David S . and Ruth L . Gottesman Center for Headache Treatment and Translational Research .
• Albert Einstein College of Medicine . The Ruth L . and David S . Gottesman Institute for Stem Cell Biology and Regenerative Medicine is one of the many gifts he and Ruth made to the medical college .
It is interesting to note that Buffett said he first learned about Gottesman ’ s philanthropy in Israel during a 2005 trip there to explore investment opportunities with him and Munger . “ I had no idea … Sandy never mentioned it ,” he said . The whale was hiding below the surface .
Legacy
Upon Gottesman ’ s death in 2022 , First Manhattan . posted this testimonial , “ Remembering Our Founder ,” on its website :
Sources
Becoming Warren Buffett . HBO . Director , Peter W . Kunhardt . 2017 .
Berkshire Hathaway 2022 Annual Report .
Berkshire Hathaway “ Notice of Annual Meeting of Shareholders .” May 1 , 2021 .
Cunningham , Lawrence . Essays of Warren Buffett . 8th edition . Cunningham Group , 2023 .
First Manhattan Co ., Inc . SEC Form 13F . March 31 , 2023 .
Gottesman , David Sanford , et al . First Manhattan Co ., A Personal History , 1964 – 2004 . 2004 .
Hershey , Robert D ., Jr . and Alex Traub . “ David Gottesman , 96 , Wall St . Power and Warren Buffett Partner , Dies .” The New York Times , September 29 , 2022 .
Kelly , James Russell . “ Bill Ruane : A Superinvestor of Graham and Doddsville .” Financial History . Issue 144 . Winter 2023 .
Kingswell , Kevin C . “ The Late Great Sandy Gottesman .” Substack . October 2 , 2023 .
Schroeder , Alice . The Snowball : Warren Buffett and the Business of Life . New York : Bantam Books . 2008 .
28 FINANCIAL HISTORY | Fall 2023 | www . MoAF . org