Herbert R. Axelrod
Encyclopedia
Herbert Richard Axelrod (b. June 7, 1927 in Bayonne, New Jersey
) is a tropical fish
expert, publisher of pet books, and entrepreneur. In 2005 he was sentenced in U.S. court to 18 months in prison for tax fraud
.
.
and started the magazine Tropical Fish Hobbyist
. He wrote many other books on tropical fish and founded a publishing firm
, TFH Publications
(named for the magazine) that became the largest publisher of pet books in the world. TFH Publications was headquartered first in Jersey City, New Jersey
, then in Neptune, New Jersey
.
In 1989 he donated his collection of fossil fish to the University of Guelph
, which the university says is one of the largest donations by an individual to a Canadian university. The Axelrod Institute of Ichthyology at that university was named for him. The building has since been renamed. Leonard P. Schultz discovered the cardinal tetra
, a popular aquarium fish, in Brazil in 1956, and gave it its scientific name
, Paracheirodon axelrodi, which honors Axelrod.
In 1997 Axelrod sold TFH Publications to Central Garden & Pet Company of California for $70 million. The contract included potential payouts to Axelrod if TFH reached earnings targets after the sale. He sued under that provision, accusing Central Garden of suppressing earnings to avoid paying the extra money. The following year, however, the purchaser filed a countersuit against him, claiming that he had grossly and illegally inflated the value of the company before the purchase. On September 1, 2005, Axelrod was ordered to pay Central Garden & Pet Company $16.4 million (net, after deducting $3.7 million the company was ordered to pay Axelrod due to earnings targets).
Axelrod, a violinist himself, assembled a large collection of old and rare stringed instruments
, including the Hellier Stradivarius
. In 1975 he bought his first Stradivarius
violin. In 1998 he donated four Stradivari instruments — two violins, a viola and a cello — to the Smithsonian Institution
. Known as the Axelrod quartet
, their value was estimated at $50 million. In February 2003 he sold about 30 other instruments to the New Jersey Symphony Orchestra
(NJSO) for $18 million. This collection was estimated to be worth $49 million. (Axelrod was a long-time supporter of the NJSO.)
in New Jersey, accused of funnelling millions of dollars into Swiss bank accounts
over 20 years without paying taxes. The following April 21, he failed to appear for his arraignment, having fled to Cuba. He was arrested in Berlin on June 15, 2004 as he got off a plane from Switzerland, and then extradited to the United States. On March 21, 2005 he was sentenced in U.S. court to 18 months in prison for tax fraud.
Bayonne, New Jersey
Bayonne is a city in Hudson County, New Jersey, United States. Located in the Gateway Region, Bayonne is a peninsula that is situated between Newark Bay to the west, the Kill van Kull to the south, and New York Bay to the east...
) is a tropical fish
Tropical fish
Tropical fish include fish found in tropical environments around the world, including both freshwater and salt water species.Tropical fish are popular as aquarium fish, due to their often bright coloration...
expert, publisher of pet books, and entrepreneur. In 2005 he was sentenced in U.S. court to 18 months in prison for tax fraud
Tax avoidance and tax evasion
Tax noncompliance describes a range of activities that are unfavorable to a state's tax system. These include tax avoidance, which refers to reducing taxes by legal means, and tax evasion which refers to the criminal non-payment of tax liabilities....
.
Early life
Axelrod was born to Russian-Jewish immigrant parents in New Jersey. His father was a mathematics and violin teacher, and his mother was a civilian employee of the U.S. NavyUnited States Navy
The United States Navy is the naval warfare service branch of the United States Armed Forces and one of the seven uniformed services of the United States. The U.S. Navy is the largest in the world; its battle fleet tonnage is greater than that of the next 13 largest navies combined. The U.S...
.
Publishing empire
While in Korea he wrote his book The Handbook of Tropical Aquarium Fishes. After returning from Korea, Axelrod earned a Ph.D. at New York UniversityNew York University
New York University is a private, nonsectarian research university based in New York City. NYU's main campus is situated in the Greenwich Village section of Manhattan...
and started the magazine Tropical Fish Hobbyist
Tropical Fish Hobbyist
Tropical Fish Hobbyist Magazine is a monthly magazine geared to hobbyist keepers of tropical fish, with news and information on a variety of topics including: Care & Maintenance, Aquascaping, Husbandry, Health & Breeding, Species Reports, Aquarium Technology, Aquarium Science, Exploration &...
. He wrote many other books on tropical fish and founded a publishing firm
Publishing
Publishing is the process of production and dissemination of literature or information—the activity of making information available to the general public...
, TFH Publications
TFH Publications
TFH Publications is an American book publisher based in New Jersey, USA. It specialises in books about pets. In 1997 the owner, Herbert R. Axelrod sold the company to Central Garden & Pet Company of California for $70 million....
(named for the magazine) that became the largest publisher of pet books in the world. TFH Publications was headquartered first in Jersey City, New Jersey
Jersey City, New Jersey
Jersey City is the seat of Hudson County, New Jersey, United States.Part of the New York metropolitan area, Jersey City lies between the Hudson River and Upper New York Bay across from Lower Manhattan and the Hackensack River and Newark Bay...
, then in Neptune, New Jersey
Neptune Township, New Jersey
-Demographics:As of the census of 2000, there were 27,690 people, 10,907 households, and 6,805 families residing in the township. The population density was 3,366.8 people per square mile . There were 12,217 housing units at an average density of 1,485.4 per square mile...
.
In 1989 he donated his collection of fossil fish to the University of Guelph
University of Guelph
The University of Guelph, also known as U of G, is a comprehensive public research university in Guelph, Ontario, Canada. It was established in 1964 after the amalgamation of Ontario Agricultural College, the Macdonald Institute, and the Ontario Veterinary College...
, which the university says is one of the largest donations by an individual to a Canadian university. The Axelrod Institute of Ichthyology at that university was named for him. The building has since been renamed. Leonard P. Schultz discovered the cardinal tetra
Cardinal tetra
The cardinal tetra, Paracheirodon axelrodi, is a freshwater fish of the characin family of order Characiformes. It is native to the upper Orinoco and Negro Rivers in South America....
, a popular aquarium fish, in Brazil in 1956, and gave it its scientific name
Binomial nomenclature
Binomial nomenclature is a formal system of naming species of living things by giving each a name composed of two parts, both of which use Latin grammatical forms, although they can be based on words from other languages...
, Paracheirodon axelrodi, which honors Axelrod.
In 1997 Axelrod sold TFH Publications to Central Garden & Pet Company of California for $70 million. The contract included potential payouts to Axelrod if TFH reached earnings targets after the sale. He sued under that provision, accusing Central Garden of suppressing earnings to avoid paying the extra money. The following year, however, the purchaser filed a countersuit against him, claiming that he had grossly and illegally inflated the value of the company before the purchase. On September 1, 2005, Axelrod was ordered to pay Central Garden & Pet Company $16.4 million (net, after deducting $3.7 million the company was ordered to pay Axelrod due to earnings targets).
Musical instruments collection
String instrument
A string instrument is a musical instrument that produces sound by means of vibrating strings. In the Hornbostel-Sachs scheme of musical instrument classification, used in organology, they are called chordophones...
, including the Hellier Stradivarius
Hellier Stradivarius
The Hellier Stradivarius of circa 1679 is a violin made by Antonio Stradivari of Cremona, Italy. It derives its name from the Hellier family, who might well have bought it directly from the luthier himself....
. In 1975 he bought his first Stradivarius
Stradivarius
The name Stradivarius is associated with violins built by members of the Stradivari family, particularly Antonio Stradivari. According to their reputation, the quality of their sound has defied attempts to explain or reproduce, though this belief is controversial...
violin. In 1998 he donated four Stradivari instruments — two violins, a viola and a cello — to the Smithsonian Institution
Smithsonian Institution
The Smithsonian Institution is an educational and research institute and associated museum complex, administered and funded by the government of the United States and by funds from its endowment, contributions, and profits from its retail operations, concessions, licensing activities, and magazines...
. Known as the Axelrod quartet
Axelrod quartet
right|thumbnail|The Axelrod quartet, on display in the [[Smithsonian Institution]] [[National Museum of American History]]. From left to right:[[Greffuhle Stradivarius|Greffuhle violin]] , [[Axelrod Stradivarius|Axelrod viola]] , [[Ole Bull Stradivarius|Ole Bull violin]] , and [[Marylebone...
, their value was estimated at $50 million. In February 2003 he sold about 30 other instruments to the New Jersey Symphony Orchestra
New Jersey Symphony Orchestra
The New Jersey Symphony Orchestra is a symphony orchestra located in the state of New Jersey, United States. Philip James founded the orchestra in 1922. The orchestra is headquartered in Newark, New Jersey. Neeme Järvi, the NJSO's music director from 2005 to 2009, is currently the orchestra's...
(NJSO) for $18 million. This collection was estimated to be worth $49 million. (Axelrod was a long-time supporter of the NJSO.)
Further legal difficulties
Questions surfaced about the value of the instruments he had donated to the Smithsonian and the NJSO. Although the instruments were all old and valuable, several were determined not to be the instruments he represented them as, and not to be as valuable as he claimed. He was said to have invented histories for the instruments to explain away doubts or to increase their worth. On April 13, 2004, Axelrod was indicted in federal courtUnited States district court
The United States district courts are the general trial courts of the United States federal court system. Both civil and criminal cases are filed in the district court, which is a court of law, equity, and admiralty. There is a United States bankruptcy court associated with each United States...
in New Jersey, accused of funnelling millions of dollars into Swiss bank accounts
Banking in Switzerland
All banks in Switzerland are regulated by Swiss Financial Market Supervisory Authority , which derives its authority from a series of federal statutes...
over 20 years without paying taxes. The following April 21, he failed to appear for his arraignment, having fled to Cuba. He was arrested in Berlin on June 15, 2004 as he got off a plane from Switzerland, and then extradited to the United States. On March 21, 2005 he was sentenced in U.S. court to 18 months in prison for tax fraud.
Selected publications
- Handbook of Tropical Aquarium Fishes, McGraw-Hill, 1955.
- Saltwater Aquarium Fishes, TFH Publications, 1987. ISBN 0866224998
- Lovebirds As a New Pet, TFH Publications, 1990. ISBN 0866226176
- Swordtails and Platies, TFH Publications, 1991. ISBN 0866220909
- African Cichlids of Lakes Malawi and Tang, TFH Publications. ISBN 0876660219
- Aquarium Fishes of the World, TFH Publications, 1998. ISBN 0793804930
- Dr. Axelrod's Atlas of Freshwater Aquarium Fishes, TFH Publications, 2004. ISBN 0793800331
External links
- University of Guelph Axelrod Institute of Ichthyology
- He's trying to put his cares behind him (2004 interview in Havana by Brian Donohue of the New Jersey Star-Ledger)