Mourning in Torah world • R' Moshe Reichmann z"l

On Friday, in the early morning Canada time, the benefactor Rabbi Moshe (Paul) Reichmann passed away at the age of 83.

Reichmann will be remembered in the international business world as one who turned, together with his brother, the Olympia York company into the world's largest real estate company, before it got into trouble and collapsed.

Among the world's largest financial complexes in which he was involved, is the Canary Wharf in London, the World Financial Center in New York and a major business area in Toronto "Canada First".

Moshe Reichmann was born to his father, a successful businessman, Shmuel Reichmann in Vienna. During World War II he fled with his family to Paris, and then to Tangier.

Moshe and his brothers Avraham, Loris and Ralph settled in Toronto. His brother Edward settled in Montreal and then moved to Israel.

In the following years the family company, Olympia and York, had a resounding success. Until the 80s, the company became one of the leading real estate and development in the world and the Reichmann family was one of the 12 wealthiest families in the world.

However, in the early 90s Olympia and York collapsed following the huge investment project Canary Wharf in London, which almost completely wiped out the capital of the Reichmann family.

From the family fortune which was $ 10 billion at its peak, only $ 100 million was left. But Moshe Reichmann did not give up and managed to recover. The Canary Wharf project rehabilitated and Reichmann also invested in other business and a nursing homes network in Canada.

At 75, he announced his intention to retire from business and began to sell some of his business, but eventually returned to activity and established an investment fund of $ 4 billion that he was headed until recently.

Moshe Reichmann was one of the greatest supporters of the Torah world and millions of dollars which he donated regularly to yeshivos and Torah institutions. He was close to Hagra"m Shach zt"l and helped him in his plans to establish Degel HaTorah.

'בחדרי' גם ברשתות החברתיות - הצטרפו!