Philip L. Milstein

Philip L. Milstein
Born	(1949-08-05) August 5, 1949
Occupation(s)	Real estate developer, banker, philanthropist
Known for	Leadership roles at Emigrant Savings Bank; philanthropy including donations to Columbia University and Barnard College

Philip L. Milstein (born August 5, 1949) is a prominent American figure in real estate development, banking, and philanthropy.

Early life and education

As the eldest child of billionaire real estate magnate Seymour Milstein and Vivian Leiner, Milstein pursued higher education at Columbia College, where he obtained his B.A. in 1971. He further advanced his studies by earning an MBA from New York University in 1974.

Career

Between 1987 and 2003, Milstein occupied several key leadership positions at the family-owned Emigrant Savings Bank, including vice chairman, president and CEO, as well as co-chairman. The Milstein family was involved in well-publicized legal disputes concerning their $5 billion fortune and internal succession matters. In 2003, ownership of the bank was transferred to his uncle, Paul Milstein, and cousin, Howard Milstein. Following this transition, Milstein joined forces with his sister Connie and niece Abigail Elbaum to establish Ogden Cap Properties, a company responsible for managing their portion of the family’s holdings, which include upscale residential properties in New York City such as 1 Lincoln Plaza and the luxury The Jefferson hotel located in Washington, D.C.. He continues to serve as a principal within this enterprise.

Philanthropy

Milstein is noted for his substantial charitable endeavors. Among these is a $20 million gift dedicated to the Medical and Graduate Education Building at the Columbia University Vagelos College of Physicians and Surgeons, a project designed by Diller Scofidio + Renfro. Together with his wife, he donated $25 million to Barnard College to create The Cheryl and Philip Milstein Center for Teaching and Learning. He also financed renovations of Columbia University's Butler Library, resulting in the naming of its undergraduate library in his honor. His leadership roles have included serving as a trustee of Columbia University, chairman and president of the 92nd Street Y, vice chairman of the Lincoln Center, as well as membership on the board of NewYork–Presbyterian Hospital.

Personal life

Milstein is married to Cheryl Sue Glicker, an alumna of both Barnard College and the Benjamin N. Cardozo School of Law, who currently chairs Barnard’s board of trustees. The couple has four children, two of whom have been recognized by The New York Times for their philanthropic activism. In 2015, Forbes estimated the Milstein family’s net worth at $3.1 billion, ranking them as the 90th wealthiest family in the United States.