Preston Robert Tisch
Preston Robert Tisch | |
|---|---|
| Born | Template:Birth date Brooklyn, New York, U.S. |
| Died | November 15, 2005 (aged 79) |
| Occupation(s) | Entrepreneur, businessman |
| Years active | 1946–2005 |
| Known for | Co-owner of the New York Giants, chairman and co-owner of Loews Corporation |
Preston Robert Tisch (April 29, 1926 – November 15, 2005) was a prominent American entrepreneur who held the positions of chairman and co-owner of Loews Corporation alongside his brother Laurence Tisch. From 1991 until his passing, he possessed a 50% ownership stake in the New York Giants football franchise, sharing control with Wellington Mara.
Early life
Tisch was born in 1926 in Brooklyn’s Bensonhurst area to Sadye (née Brenner) and Al Tisch, into a Jewish family with ancestral ties to Ukraine and Poland. His father, who had been an All-American basketball player at the City University of New York, operated a garment manufacturing business as well as two summer camps, which he managed together with his wife.
He briefly attended DeWitt Clinton High School before transferring to Erasmus Hall High School. Tisch graduated in 1948 from the University of Michigan with a Bachelor of Arts degree in economics. During his time there, he was affiliated with the Jewish fraternity Sigma Alpha Mu. His wife, Joan Tisch, along with their daughter, also completed their studies at the same university.
Career
On August 16, 1986, Tisch was named Postmaster General of the United States Postal Service, a role he fulfilled until March 1, 1988.
New York Giants (1991–2005)
In 1991, Tisch acquired half ownership of the National Football League’s New York Giants, joining the Mara family as co-owners. This share was bought from Tim Mara's relatives, who were stepping back from team management due to health concerns. Applying his business acumen, Tisch contributed significantly to the Giants' operational management and participated on the NFL’s Finance and Super Bowl Policy committees.
He maintained his ownership until his death from brain cancer on November 15, 2005. Subsequently, his portion of the team transferred to his son Steve Tisch, who now co-owns the franchise alongside Mara's son John Mara. In recognition of his contributions, Tisch was inducted posthumously into the Giants’ Ring of Honor in 2010.
Business career
Tisch began his entrepreneurial journey in 1946 by launching the Grand Hotel with his brother Larry. Despite initial obstacles—including a suspicious fire—the brothers expanded their hospitality ventures by developing the Americana Hotel in Bal Harbor in 1957, one of the nation’s pioneering hotels designed specifically for convention attendees. Throughout the 1960s and 1970s, he played an instrumental role in growing the hotel industry.
For nearly two decades, Tisch served as chairman of the New York Convention and Visitors Bureau (now NYC & Company), spearheading marketing efforts that helped popularize New York City's nickname “The Big Apple.” In 1958, he acquired shares in Loew's Inc., assumed control by 1959, and by 1970 had established Loew's Corporation as the parent company overseeing Loew's Theatres and Hotels. Elevated to president and COO in 1968, he directed Loews’ purchase of Lorillard, then ranked as the fifth-largest tobacco company in the United States with brands including Kent, Newport, and True.
Preston and Laurence Tisch retired from their roles as co-CEOs of Loews on December 31, 1998. Under their stewardship, Loews expanded its operations into insurance and natural gas industries.
Philanthropy
Tisch made notable philanthropic contributions to educational institutions he attended, resulting in several facilities bearing his name. At the University of Michigan, Tisch Hall accommodates the history department. At New York University, both the Tisch School of the Arts and NYU Medical Center’s Tisch Hospital commemorate him and his brother. Established in 1995 and enlarged in 1999 to support growth, the Preston Robert Tisch Center for Hospitality, Tourism, and Sports Management is also part of NYU. The Central Park Zoo features the Tisch Children's Zoo, which opened its doors in 1997.
After being given only two months to live following a diagnosis, Tisch survived an additional fourteen months while receiving treatment at Duke University Medical Center. In appreciation, his family donated $10 million to Duke’s Brain Tumor Center; it was renamed the Preston Robert Tisch Brain Tumor Center in 2005.
The headquarters building for the Gay Men's Health Crisis (GMHC) in New York City is named after Tisch and his wife following their $3.5 million gift in 1997; Joan Tisch serves on GMHC’s Board. Other tributes include a Preston R. Tisch Professorship in Judaic Studies and the Preston Robert Tisch Tennis Building at the University of Michigan. As a founding member of the Association for a Better New York, Tisch worked on initiatives addressing urban challenges beyond those handled by municipal agencies. He also helped launch Citymeals on Wheels and personally delivered meals to elderly residents throughout New York City.
Additional philanthropic endeavors include support for arts institutions such as the Tisch Center for the Arts at 92Y in New York City and Tisch Galleries at the Metropolitan Museum of Art. He founded Take the Field, a charitable organization that successfully raised $135 million from both public and private sources to refurbish forty-three athletic fields across New York City.
Awards and honors
- 1982 – Received the Golden Plate Award from the American Academy of Achievement
- 1995 – Honored with the Frank W. Berkman Tourism Achievement Award
- 2000 – Inducted into the Hospitality Industry Hall of Honor at the Conrad N. Hilton College, University of Houston
- 2010 – Entered The Events Industry Council Hall of Leaders
- 2010 – Added to the New York Giants Ring of Honor
In recognition of their contributions, the University at Albany, which has long served as the Giants' training camp venue, dedicated their practice field in 2007 to Tisch and co-owner Wellington Mara.
Personal life
He wed Joan Hyman in 1948. Together, they had three offspring: Steve Tisch, Jonathan Tisch, and Laurie Tisch.