Leon Shimkin
Leon Shimkin | |
|---|---|
| Born | Template:Birth date Brooklyn, New York, U.S. |
| Died | May 25, 1988 (aged 81) |
| Occupation(s) | Entrepreneur, publishing executive |
| Years active | 1924–1988 |
| Known for | Transforming Simon & Schuster into a leading publishing company; co-founding Pocket Books; developing How to Win Friends and Influence People book |
Leon Shimkin (April 7, 1907 – May 25, 1988) was a prominent American entrepreneur who played a crucial role in transforming Simon & Schuster into a leading publishing powerhouse. He was instrumental in converting Dale Carnegie's lectures into the bestselling book How to Win Friends and Influence People and was responsible for developing J.K. Lasser's tax manuals. Shimkin also co-established Pocket Books, which pioneered the distribution of mass-market paperbacks through venues such as newsstands and drugstores. He became the third partner alongside Simon & Schuster's founders, Max Schuster and Richard L. Simon, and continued as an executive after the company's 1944 acquisition by Field Enterprises. Rising to chairman and principal owner, Shimkin eventually sold Simon & Schuster to Gulf + Western in 1975.
Early life
Born in 1907 in Brooklyn, New York, to Lithuanian Jewish immigrant parents, Shimkin began working at Simon & Schuster at the age of 17 as a bookkeeper while pursuing his education at New York University.
Career
Shimkin started his career as a bookkeeper and business manager for founders Richard L. Simon and M. Lincoln Schuster, earning the affectionate nickname "Our Little Golden Nugget" due to his inventive solutions for financial issues. He increased revenue streams by licensing book rights to Hollywood studios and newspapers and played a role in influencing IRS regulations that enabled publishers to reinvest profits into future projects.
Beyond administrative duties, Shimkin recognized the potential of self-help literature. After attending one of Dale Carnegie’s lectures, he suggested adapting it into the book How to Win Friends and Influence People, which became one of Simon & Schuster’s first major successes. Additionally, he convinced Rabbi Joshua Loth Liebman to author the bestseller Peace of Mind (1946–1948).
Shimkin rejuvenated a faltering tax guide series by commissioning J.K. Lasser to write Your Income Tax, focusing on clarity and user-friendliness; this title ultimately sold up to one million copies annually.
Instead of accepting a $25,000 bonus from How to Win Friends, Shimkin negotiated for a one-third partnership stake, becoming a partner and continuing in executive roles following the 1944 Field Enterprises acquisition.
Together with Robert D. de Graff and other collaborators, Shimkin co-founded Pocket Books, introducing mass-market paperbacks distributed through high-traffic outlets such as newsstands and drugstores, significantly expanding their audience.
In 1947, Shimkin lectured on book publishing at New York University. He was appointed president of Pocket Books in 1950, reacquired Simon & Schuster with M. Lincoln Schuster in 1957, took full ownership of Pocket Books, and purchased Schuster’s share of Simon & Schuster for $2 million in 1966.
In 1948, Shimkin briefly managed the short-lived New York Star as its business manager.
In 1961, he co-launched Trident Press alongside Herbert Alexander to publish hardcover works by Harold Robbins. This initiative disrupted traditional publisher dynamics by empowering paperback publishers with greater influence over major fiction rights—a strategic maneuver that strengthened Shimkin’s control within Simon & Schuster.
Shimkin sold Simon & Schuster to Gulf + Western in 1975 but remained involved at the company’s headquarters until shortly before his passing at age 81.
Marriage and children
Leon Shimkin was united in marriage to Rebecca Shimkin, who died in 1997. Their family maintained homes in Larchmont and Pound Ridge, New York, as well as an apartment located in New York City. They were parents to two offspring: Emily Shimkin Gindin and Michael W. Shimkin.
Honors and awards
In 1960, the Alumni Association of New York University's School of Commerce honored Leon Shimkin with the Madden Memorial Award, recognizing his exceptional accomplishments in business. Six years later, he donated $2 million to NYU’s capital campaign for the refurbishment of the School of Commerce facility, which was later named Leon Shimkin Hall in his honor.