Albert Reichmann

Albert Reichmann (Hebrew: אלברט רייכמן‎; born 1929) is a Canadian businessman. He is one of the five brothers who controlled the Reichmann business empire. The Reichmann family is listed as one of Canada’s 100 richest families.[1]

Early Life

Albert Reichmann who was born in Vienna, Austria to Orthodox Jewish parents. Alongside his five siblings, the family escaped Nazi occupied Austria and Paris.[2]

Career

Albert joined his brothers Paul and Ralph Reichmann who had set up business connections in Toronto. While Albert was the eldest of the three, it was Paul who had the keenest business sense and was the president of Olympia and York, in 1989 worth 8.4 billion dollars.[3][4] Business Builders in Real Estate. The Oliver Press, Inc. 2002. p. 124. ISBN 978-1-881508-79-3. Albert Reichmann. Albert served in a secondary role as chairman of the company. While playing an important role in the workings of the firm Albert was most known for his philanthropic work. In the late 1980s while Paul was devoting his time to the Canary Wharf project,[5][6] Albert became closely involved in the cause of the Jews in the Soviet Union. Reichmann used his money and influence to try to allow them to emigrate to Israel. In 1993, it was reported that he lobbied congress about Libya and Israel.[7] His endowment is based in Brooklyn, New York.[8]

Today he is a huge supporter of the Russian Schools he has built (approx; 29 of them) and many schools in Toronto.

He plays an investor/advisory role for his families businesses.

After the collapse on O&Y in 1992 Albert Reichmann became president of Heathmount Arts and Entertainment Corp, a company owning a number of entertainment venues. He ran the company alongside his nephew Abraham Reichmann. The true dream of the company was the construction of a giant amusement park, known as the Technodome, inside Montreal. This project has stalled, however.

His son is Philip Reichmann. He was born in 1958, and managed O & Y Properties Incorporation (before the sale to Brookfield in 2005)[9][10]

He is an investor in ImageSat, who sued the company.[11]

As a Haredi Jew, Reichmann donates significantly to many Jewish organizations both in and out of Toronto where he lives.

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References
  1. "Canada's Richest People: The Complete Top 100 Ranking". www.canadianbusiness.com. Retrieved 2020-08-03.
  2. Millward, David (2019-09-15). "Reichmann brothers, who built Canary Wharf for Margaret Thatcher, embroiled in 'baffling' family court battle". The Telegraph. ISSN 0307-1235. Retrieved 2020-08-04.
  3. Slovak, Julianne (1989-09-11). "The Billionaires RANKED BY NET WORTH". CNN.
  4. "History of Olympia & York Developments Ltd. – FundingUniverse".
  5. "1980s". Building.
  6. http://www.washingtontimes.com, The Washington Times. "Ralph and Albert Reichmann: An unfortunate end to a remarkable story of immigrants". The Washington Times. Retrieved 2020-08-04.
  7. New York Media, LLC (23 August 1993). Libya's Odd New Friends. New York Magazine. New York Media, LLC. pp. 16–. ISSN 0028-7369.
  8. "Albert Reichmann Global Endowment Fund Inc - 501C3 Nonprofit - New York, NY - 113531185".
  9. "Reichmanns Rebound". Maclean's Magazine, September 22, 1997, via The Canadian Encyclopedia website
  10. "Company News; Reichmann Family Members Buy Olympia Leasing Unit". The New York Times. 1993-07-27. Retrieved 2010-04-23.
  11. DAVID POMERANTZ. "Spy Satellite Lands Israel in U.S. Court".


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