David Paresky

David Paresky is a retired American businessman, who formerly worked in the travel service sector. He is also a well-known philanthropist.

David Paresky
Born1938 (age 81–82)
Boston, Massachusetts
NationalityAmerican
OccupationBusinessman

Early life

Paresky was born in Boston, Massachusetts in 1938. He grew up in Burlington, Vermont. Paresky attended Philips Academy on a scholarship before attending Williams College, also as a scholarship student.[1] He graduated from Williams in 1960 and went on to receive his J.D. from Harvard University in 1963 and then his MBA from Harvard in 1965.[2]

Career

Paresky began his tenure in travel services at Philips Academy, where he organized spring break trips to Bermuda for students.[2] Later, Paresky turned this interest into a profitable career. After graduation from Harvard, Paresky began Crimson Travel, a successful company that became the largest travel company in the New England region.

Crimson Travel merged with Heritage Travel and then with Thomas Cook Travel, becoming ultimately one of the largest travel companies in the United States. Thomas Cook Travel was founded by Thomas Cook in 1841 in England and survived over the years before moving operations to the United States.[3] American Express purchased Thomas Cook's travel offices in the United States in 1994, which were owned by Paresky and his wife.[4]

Philanthropy

Paresky has donated significant portions of money to both Philips Academy and Williams College in order to build new student facilities. At Williams, the student center built in 2006 is named Paresky Center in his name after he donated $15.75 million to the school.[1] At Philips Academy, Paresky's $10 million donation was used to renovate its main dining hall, renamed Paresky Commons in 2008.[5]

Personal life

Paresky currently lives in Fisher Island, Florida with his wife Linda.

He received Williams College's Bicentennial Medal in 2012.

Paresky was one of the investors exploited by Bernie Madoff's Ponzi scheme, which came to light in 2008.[6]

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References
  1. "Student center named for Paresky". The Williams Record. Retrieved 2016-01-13.
  2. "David S. Paresky, Class of 1960 | Alumni Awards". alumni-awards.williams.edu. Retrieved 2016-01-13.
  3. "Thomas Cook Travel Inc Facts, information, pictures | Encyclopedia.com articles about Thomas Cook Travel Inc". www.encyclopedia.com. Retrieved 2016-01-13.
  4. Gilpin, Kenneth N. (1994-09-10). "COMPANY NEWS; American Express Deal for Thomas Cook Is Seen". The New York Times. ISSN 0362-4331. Retrieved 2016-01-13.
  5. Dean, Julia; Murphy, Liam. "Commons Renovations Total $30 Million; Building Renamed For David Paresky '56 After $10 Million Donation". The Phillipian. Retrieved 2016-01-13.
  6. "Searching the Madoff List - The New York Times". projects.nytimes.com. Retrieved 2016-01-13.
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