Reichmann family
Encyclopedia
The Reichmann family is a family best known for controlling the Olympia and York
business empire.
The Reichmann's were originally from the small shtetl
of Beled
, Hungary
but the ambitious Samuel Reichmann moved them to Vienna
in 1928 where he became a successful merchant. He and his wife Renée had six children:
During the Second World War the family fled first to Paris
and then to the neutral city of Tangier
. There Samuel became a prominent business leader specializing in the currency trade. Renée became a renowned humanitarian aiding victims of the Holocaust.
Despite the financial success of life in Tangier the family left to avoid the turbulence of Moroccan
independence from the French protectorate
. Eva settled in London
, but Edward went to Montreal
where in 1955 he founded Olympia Flooring and Tile
to import tile
s from Europe. Edward described Montreal with its large Jewish population and opportunity for profits fondly and soon the rest of the family followed him to Canada.
Louis joined Edward in Montreal but Albert, Paul, and Ralph settled in Toronto
where they first expanded Edward's tile business but then moved into construction and property development. Samuel was the leader of this business that became known as York Developments. Albert and Paul played a secondary but central role, while Ralph remained in charge of the tile business.
In the late 1960s Edward's Montreal business was faltering and on the verge of collapse. He was only saved from ruin by a bail-out from his youngest brother in Toronto
. Embarrassed at this turn of events Edward left Canada for Israel.
Over time, through successful projects in Toronto and New York, Olympia & York became the largest property development and management firm in the world and the Reichmanns one of its richest families. Throughout the family remained strongly committed to their Haredi Judaism
.
In the early 1990s the business empire was brought low by the Canary Wharf
project in London. O&Y declared bankruptcy and the Reichmann fortune was greatly reduced. Since then the family has continued to be involved in real estate deals around the world. The younger generation of Reichmanns has increasingly been playing a major role,with Nathan Lamm seen as the heir apparent.
Olympia and York
Olympia & York was once a major international property development firm based in Canada. The firm built major financial office complexes like Canary Wharf in London, the World Financial Center in New York City and First Canadian Place in Toronto...
business empire.
The Reichmann's were originally from the small shtetl
Shtetl
A shtetl was typically a small town with a large Jewish population in Central and Eastern Europe until The Holocaust. Shtetls were mainly found in the areas which constituted the 19th century Pale of Settlement in the Russian Empire, the Congress Kingdom of Poland, Galicia and Romania...
of Beled
Beled
- External links :*...
, Hungary
Hungary
Hungary , officially the Republic of Hungary , is a landlocked country in Central Europe. It is situated in the Carpathian Basin and is bordered by Slovakia to the north, Ukraine and Romania to the east, Serbia and Croatia to the south, Slovenia to the southwest and Austria to the west. The...
but the ambitious Samuel Reichmann moved them to Vienna
Vienna
Vienna is the capital and largest city of the Republic of Austria and one of the nine states of Austria. Vienna is Austria's primary city, with a population of about 1.723 million , and is by far the largest city in Austria, as well as its cultural, economic, and political centre...
in 1928 where he became a successful merchant. He and his wife Renée had six children:
- Eva Reichmann (b. 1923)
- Edward ReichmannEdward ReichmannEdward Reichmann was the oldest of the five Reichmann brothers, famed for their global business empire.Edward was born to Samuel Reichmann a wealthy Vienna merchant of Hungarian origin. The family was lucky to escape Austria before the Nazi invasion leaving the country on the morning of Anschluss...
(1925–2005) - Louis Reichmann (b. 1927)
- Albert ReichmannAlbert ReichmannAlbert Reichmann was one of the five brothers that controlled the Reichmann business empire.-Life:Albert joined his brothers Paul and Ralph in Toronto...
(b. 1929) - Paul ReichmannPaul ReichmannPaul Reichmann is a Canadian businessman best known for his leadership of the Olympia & York a real estate development company.-Formative years:Reichmann was born in Vienna in 1930 to Samuel Reichmann, a wealthy egg merchant and his wife René...
(b. 1930) - Ralph Reichmann (b. 1933)
During the Second World War the family fled first to Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
and then to the neutral city of Tangier
Tangier
Tangier, also Tangiers is a city in northern Morocco with a population of about 700,000 . It lies on the North African coast at the western entrance to the Strait of Gibraltar where the Mediterranean meets the Atlantic Ocean off Cape Spartel...
. There Samuel became a prominent business leader specializing in the currency trade. Renée became a renowned humanitarian aiding victims of the Holocaust.
Despite the financial success of life in Tangier the family left to avoid the turbulence of Moroccan
Morocco
Morocco , officially the Kingdom of Morocco , is a country located in North Africa. It has a population of more than 32 million and an area of 710,850 km², and also primarily administers the disputed region of the Western Sahara...
independence from the French protectorate
French Morocco
French Protectorate of Morocco was a French protectorate in Morocco, established by the Treaty of Fez. French Morocco did not include the north of the country, which was a Spanish protectorate...
. Eva settled in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, but Edward went to Montreal
Montreal
Montreal is a city in Canada. It is the largest city in the province of Quebec, the second-largest city in Canada and the seventh largest in North America...
where in 1955 he founded Olympia Flooring and Tile
Olympia Flooring and Tile
Olympia Floor and Wall Tile is the largest tile wholesaler in Canada and is wholly owned by Ralph Reichmann. Based in Toronto, Canada it has branches in Vancouver, Calgary, Edmonton, Winnipeg, London, Hamilton, Toronto, Ottawa, Montreal and Halifax...
to import tile
Tile
A tile is a manufactured piece of hard-wearing material such as ceramic, stone, metal, or even glass. Tiles are generally used for covering roofs, floors, walls, showers, or other objects such as tabletops...
s from Europe. Edward described Montreal with its large Jewish population and opportunity for profits fondly and soon the rest of the family followed him to Canada.
Louis joined Edward in Montreal but Albert, Paul, and Ralph settled in Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
where they first expanded Edward's tile business but then moved into construction and property development. Samuel was the leader of this business that became known as York Developments. Albert and Paul played a secondary but central role, while Ralph remained in charge of the tile business.
In the late 1960s Edward's Montreal business was faltering and on the verge of collapse. He was only saved from ruin by a bail-out from his youngest brother in Toronto
. Embarrassed at this turn of events Edward left Canada for Israel.
Over time, through successful projects in Toronto and New York, Olympia & York became the largest property development and management firm in the world and the Reichmanns one of its richest families. Throughout the family remained strongly committed to their Haredi Judaism
Haredi Judaism
Haredi or Charedi/Chareidi Judaism is the most conservative form of Orthodox Judaism, often referred to as ultra-Orthodox. A follower of Haredi Judaism is called a Haredi ....
.
In the early 1990s the business empire was brought low by the Canary Wharf
Canary Wharf
Canary Wharf is a major business district located in London, United Kingdom. It is one of London's two main financial centres, alongside the traditional City of London, and contains many of the UK's tallest buildings, including the second-tallest , One Canada Square...
project in London. O&Y declared bankruptcy and the Reichmann fortune was greatly reduced. Since then the family has continued to be involved in real estate deals around the world. The younger generation of Reichmanns has increasingly been playing a major role,with Nathan Lamm seen as the heir apparent.