This Man gave $65 Million to College that Helped him when Parent's Died | The Compost Bin | Forums

Damn

It was 1977, Howard Lutnick was a junior in high school and his future looked bright. Then he got the news, his mother, 42, lost her battle to lymphoma.

The 16-year-old experienced what some consider the most traumatic life event: losing a parent.

Unfortunately, that was a harbinger of things to come.

In 1979, Howard left for Haverford College on the recommendation of his father.

His dad – a professor at Queens College – was keeping a secret from him: he had colon cancer that had metastasized to his lungs.

On September 12, 1979 his father died of an accidental chemotherapy drug overdose administered by a nurse.

His world was crashing around him!

"Without parents you sort of lose the gravity- they keep your feet on the earth" he said.

Then he got a phone call from the president of Haverford, Robert B Stevens:

"Howard, your four years here are free."

This was incredible!

But what made this gesture even more amazing, he recalls, is that his sister was a student at the University of Rhode Island and was told that if she couldn't afford the tuition she should get a job as a waitress.

"Since I had only been at the school for a week, they couldn't possibly have known about me. It was more about who they are as an institution than it was about me." He said.

His first job out of college was as an employee of Cantor Fitzgerald, eight years later he was running the show and at the ripe old age of 35 he was chairman of the board.

On September 11, 2001 – a day before the 22 year anniversary of his father's death – after dropping his son, Kyle, off at kindergarten he headed towards the World Trade Center where he worked.

As he arrived, the south tower completely crumbled causing a huge cloud of smoke and ash.

On that tragic day, Cantor Fitzgerald lost two thirds of its workforce which included 26 sets of brothers; The company believed in hiring family and friends.

Because of the generosity that was extended to him by Haverford some 22 years prior, he felt the need to pay it forward.

For five years he gave 25% of company profits which totaled a staggering $180 million to the families that lost loved ones on 9/11.

Also, to commemorate the events of 9/11, every year on that date employees donate a day's pay to a variety of charities:

About $12 million in total.

In October of 2014, Lutnick pledged a donation of $25 million - that was on top of the $40 million that he had given the 25 years previously.

"Haverford was there for me and taught me what it meant to be a human being".

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