Early Investment Pays Off
You just never know where your investments will take you. For David Stanford “Sandy” Gottesman it helped him become a billionaire. Gottesman is not a familiar name to many. He was born in April 26, 1926 in New York City. His uncle Samuel Gottesman was a pulp-paper merchant, financier and philanthropist.
He is a graduate of Harvard Business School and has been a friend of Warren Buffet since 1962. His early investment in Berkshire Hathaway forms the bulk of his over one billion dollar wealth. Gottesman established investment advisor First Manhattan Co. in 1964. The company now has around $13 billion in assets under management.
Like his uncle Gottesman is also a philanthropist. With his wife of over 60 years Ruth he donated $25 million to Yeshiva University medical school in 2008. The couple is also funding the Jerusalem Biblical Zoo’s planned aquarium; it is expected to be open in 2015 and will be the largest in Israel.
For Gottesman the early investment in Berkshire Hathaway has really paid off.