Alfred Lerner Philanthropy
Born on May 8, 1933 in Brooklyn, New York to Russian immigrants, Alfred Lerner rose to be a billionaire businessman and philanthropist with a net worth of $4.6 billion according to Forbes 400 in 2001.
He attained his bachelor’s degree from Columbia College in 1955, after which he served the US Marine Corps as a pilot in 1955. From selling furniture in New York, Cleveland and Baltimore earning $75 a week, he made his mark in the financial services industry by initially venturing into real estate. In 1982, he co-founded the MBNA Corp., a bank holding company and the second largest issuer of credit cards in the world, where he served as Chairman and CEO from 1982-2002. Alfred Lerner also owned and chaired the N.F.L. team Cleveland Browns in 1998.
Philanthropic Works of Alfred Lerner
- In 1993, Alfred Lerner founded the Lerner Foundation which supports medical care and Jewish agencies, temples, and federated giving programs.
- Alfred Lerner also became an advisor and avid supporter of the Jewish Foundation for the Righteous.
- In 1999, Alfred Lerner donated $25 million to establish a new student activity center at Columbia University, which was named after him.
- In June 2002, Alfred Lerner donated $100 million to the Cleveland Clinic Foundation and became a trustee of the New York Presbyterian Hospital.
- Alfred Lerner helped create the Cleveland Browns Hero fund, whose primary aim is to grant financial aid to the families of the victims of the World Trade Center terrorist attack.
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