Bernard Leon Schwartz (December 13, 1925 – March 12, 2024) was an American businessman who was

chairman of the board The chair, also chairman, chairwoman, or chairperson, is the presiding officer of an organized group such as a Board of directors, board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by ...

and

CEO A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

Loral Space & Communications Loral Space & Communications Inc. is a Delaware-domiciled satellite communications company headed by Michael B. Targoff. The company was formed in 1996 from the remnants of Loral Corporation when Loral divested its defense electronics and system ...

, a position he held for 34 years. He also served as chairman and CEO of K&F Industries, Inc., and president and CEO of

Globalstar Telecommunications Globalstar, Inc. is an American telecommunications company that operates a satellite constellation in low Earth orbit (LEO) for satellite phone, low-speed data transmission and earth observation. The Globalstar second-generation constellation con ...

. He retired from Loral and his positions at its various subsidiaries and affiliates as of March 1, 2006. He was latterly the chairman and CEO of BLS Investments, his own investment firm located in

Manhattan Manhattan ( ) is the most densely populated and geographically smallest of the Boroughs of New York City, five boroughs of New York City. Coextensive with New York County, Manhattan is the County statistics of the United States#Smallest, larg ...

Biography

Schwartz was born in

Brooklyn Brooklyn is a Boroughs of New York City, borough of New York City located at the westernmost end of Long Island in the New York (state), State of New York. Formerly an independent city, the borough is coextensive with Kings County, one of twelv ...

New York New York most commonly refers to: * New York (state), a state in the northeastern United States * New York City, the most populous city in the United States, located in the state of New York New York may also refer to: Places United Kingdom * ...

. and grew up in the

Bensonhurst Bensonhurst is a residential neighborhood in the southwestern section of the New York City borough of Brooklyn. The neighborhood is bordered on the northwest by 14th Avenue, on the northeast by 60th Street, on the southeast by Avenue P and 22nd ...

neighborhood of Brooklyn. He was

Jewish Jews (, , ), or the Jewish people, are an ethnoreligious group and nation, originating from the Israelites of History of ancient Israel and Judah, ancient Israel and Judah. They also traditionally adhere to Judaism. Jewish ethnicity, rel ...

. Schwartz graduated from

Townsend Harris High School Townsend Harris High School (THHS; often also shortened to Townsend Harris or simply Townsend) is a public high school for the humanities in the New York City borough of Queens. It is located on the campus of Queens College, a public college p ...

in NYC. He held a B.S. in finance and an

honorary An honorary position is one given as an honor, with no duties attached, and without payment. Other uses include: * Honorary Academy Award, by the Academy of Motion Picture Arts and Sciences, United States * Honorary Aryan, a status in Nazi Germany ...

doctorate of science from

City University of New York The City University of New York (CUNY, pronounced , ) is the Public university, public university system of Education in New York City, New York City. It is the largest urban university system in the United States, comprising 25 campuses: eleven ...

. He was a

World War II World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...

veteran, having served in the

US Army Air Corps The United States Army Air Corps (USAAC) was the aerial warfare service component of the United States Army between 1926 and 1941. After World War I, as early aviation became an increasingly important part of modern warfare, a philosophical ri ...

. After school, he worked as an accountant eventually becoming a partner at a Wall Street firm. He then went on to serve as a vice president of

American President Lines American President Lines, LLC, is an American container shipping company that is a subsidiary of French shipping company CMA CGM. It operates an all-container ship fleet, including nine U.S. flagged container vessels. In 1938, the U.S. governm ...

and then president of

Reliance Insurance Reliance Insurance Company, now officially known as "Reliance Insurance Company n Liquidation" was founded in Philadelphia in 1817 and has undergone numerous corporate makeovers in the intervening years. Since October 3, 2001, the company has ...

Co. (formerly Leasco) for four years. In 1972, he bought a 12% stake in

Loral Corporation Loral Corporation was a defense contractor founded in 1948 in New York by William Lorenz and Leon Alpert as Loral Electronics Corporation. The company's name was taken from the first syllables of each founder's surname. History Loral Corporation ...

, a New York Stock Exchange-listed manufacturer of satellites and satellite systems, where he served as its Chairman and CEO for 34 years.

Political activities

Schwartz was a lifelong

Democrat Democrat, Democrats, or Democratic may refer to: Politics *A proponent of democracy, or democratic government; a form of government involving rule by the people. *A member of a Democratic Party: **Democratic Party (Cyprus) (DCY) **Democratic Part ...

. According to

NBC News NBC News is the news division of the American broadcast television network NBC. The division operates under NBCUniversal Media Group, a division of NBCUniversal, which is itself a subsidiary of Comcast. The news division's various operations r ...

, he was the largest single contributor to the Democratic Party from 1992 to 1996. In 1996, he celebrated his 71st birthday with

Bill Bill(s) may refer to: Common meanings * Banknote, paper cash (especially in the United States) * Bill (law), a proposed law put before a legislature * Invoice, commercial document issued by a seller to a buyer * Bill, a bird or animal's beak Pl ...

and

Hillary Clinton Hillary Diane Rodham Clinton ( Rodham; born October 26, 1947) is an American politician, lawyer and diplomat. She was the 67th United States secretary of state in the administration of Barack Obama from 2009 to 2013, a U.S. senator represent ...

at the

White House The White House is the official residence and workplace of the president of the United States. Located at 1600 Pennsylvania Avenue Northwest (Washington, D.C.), NW in Washington, D.C., it has served as the residence of every U.S. president ...

. In 1998 Schwartz became embroiled in a campaign donations scandal and an alleged transfer of missile technology to

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

that occurred in 1996. He was exonerated of any wrongdoing in the campaign finance matter after a Justice Department investigation. Loral settled the missile transfer matter with the Justice Department in 2002, paying a $14 million fine and admitting no wrongdoing. In 2016, Schwartz donated US$1 million to

Priorities USA Action Priorities USA Action is the largest Democratic Party super PAC. Founded in 2011, it supported Barack Obama's 2012 re-election campaign. It was the primary super PAC supporting Hillary Clinton's 2016 presidential campaign and Joe Biden's 2020 ...

, a Super PAC supporting Democratic presidential candidate

. Schwartz is also in the $5 million – $10 million bracket of donors to the Clinton Foundation.

Foreign Policy

In 2002, the Bernard L. Schwartz Senior Fellowship in Business and Foreign Policy was established at the

Council on Foreign Relations The Council on Foreign Relations (CFR) is an American think tank focused on Foreign policy of the United States, U.S. foreign policy and international relations. Founded in 1921, it is an independent and nonpartisan 501(c)(3) nonprofit organi ...

with a gift from the

Bernard and Irene Schwartz Foundation Bernard (''Bernhard'') is a French and West Germanic masculine given name. It has West Germanic origin and is also a surname. The name is attested from at least the 9th century. West Germanic ''Bernhard'' is composed from the two elements ''bern ...

. The fellowship was created to focus on the global integration of financial markets and its implications for U.S. economic and foreign policy. Schwartz did not actually become a member of the Council on Foreign Relations until 2003, the following year.

Personal life

Schwartz was married to the former Irene Zanderer and lived in New York City; she died in 2014. They had two daughters. He remarried to Denise Jansen. Schwartz was a member of the

United Jewish Appeal The Jewish Federations of North America (JFNA), formerly the United Jewish Communities (UJC), is an American Jewish umbrella organization for the Jewish Federations system, representing over 350 independent Jewish communities across North Ameri ...

Federation's real estate committee. In 2002, he and his wife donated $5 million to

Baruch College Baruch College (officially the Bernard M. Baruch College) is a public college in New York City, United States. It is a constituent college of the City University of New York system. Named for financier and statesman Bernard M. Baruch, the colle ...

. Schwartz died at his home in Manhattan on March 12, 2024, at the age of 98.

References

External links

Official website
{{DEFAULTSORT:Schwartz, Bernard 1925 births 2024 deaths Philanthropists from New York (state) American chief executives 20th-century American Jews Businesspeople from Brooklyn Loral Space & Communications New York (state) Democrats American businesspeople in real estate Townsend Harris High School alumni United States Army Air Forces personnel of World War II 21st-century American Jews