Merkin's Loss Overshadows Long History of Generosity

Jacob Ezra Merkin is not particularly popular around YU these days. Losing $110 million will do that to you, especially after you have charged a fee for funneling all invested money into a single fund. Yet before the recent controversy ensued, the name J. Ezra Merkin denoted a philanthropist from a family of philanthropists, whose generosity towards YU was matched by few. Before the scandal, J. Ezra Merkin was a trustee of the university's board and former chairman of its investment committee, a man who was highly regarded for instilling hope in the financial future of the institution.

But who exactly is Jacob Ezra Merkin and when did he become so involved with YU? Ezra Merkin began associating with YU in 1984 when he joined the board of RIETS, but the Merkin family's connection to Yeshiva predates Ezra's election. In a news article released May 21, 2001 on the YU website, Dr. Lamm is noted as announcing the endowment by Lauren and Ezra Merkin of The Merkin Family Chair in Jewish History and Literature at the Bernard Revel Graduate School of Jewish Studies. The first occupant of the Chair was Dr. Haym Soloveitchik, a university professor and distinguished Talmudist and historian. Interestingly, Dr. Soloveitchik's father, Rabbi Joseph B. Soloveitchik, also held a chair in Talmud endowed by a member of the Merkin family-the Leib Merkin Distinguished Professorial Chair in Talmud and Jewish Philosophy at RIETS. The Leib Merkin chair was endowed by Ezra Merkin's late father, Hermann Merkin, who, like J. Ezra, served on the university's board as Vice Chairman for many years.

These chairs are not the only marks of the Merkin family's generosity towards Yeshiva University. The famous IBC program bears its name in recognition of a gift by Hermann and Ursula Merkin. Officially titled the Isaac Breuer College for Hebraic Studies, IBC was named in memory of Dr. Isaac Breuer, grandson of Rabbi Samson Raphael Hirsch and father of Ursula Merkin.

J. Ezra Merkin's father, Hermann, was a well-known philanthropist in the United States, most notably in New York where he is recognized as a co-founder of the Fifth Avenue Synagogue in Manhattan. According to a Jan, 15, 2009 article in the New York Times, Hermann Merkin escaped Nazi Germany and arrived in New York City in 1940, before joining the U.S. Army as an intelligence officer. After the war, he founded Merkin & Company, an investment firm, where he earned his fortune through ownership of a significant stake in the shipping company Overseas Shipholding Group. After amassing his fortune, he became a leading figure in Jewish philanthropy.