Sidney Frank
Sidney E. Frank | |
|---|---|
| Born | October 2, 1919 Montville, Connecticut, U.S. |
| Died | January 10, 2006 (aged 86) Aboard private aircraft en route from San Diego, California to Vancouver, British Columbia |
| Occupation(s) | Entrepreneur, philanthropist |
| Known for | Marketing Grey Goose vodka and Jägermeister |
Sidney E. Frank (October 2, 1919 – January 10, 2006) was an American entrepreneur and philanthropist who amassed his fortune by successfully marketing Grey Goose vodka and Jägermeister.
Early life, family, education
Born in Montville, Connecticut to Jewish parents Abraham and Sarah Frank, Frank spent his childhood in Norwich, Connecticut. He completed his studies at the Norwich Free Academy in 1937. Although he enrolled at Brown University, financial difficulties led him to leave after one year; he later became a major benefactor supporting scholarship programs there. During World War II, Frank was employed by Pratt and Whitney in India, where he worked on enhancing aircraft engine efficiency in the CBI theater, including innovations involving alcohol injection.
Career
Frank married Louise "Skippy" Rosenstiel, daughter of Lewis Rosenstiel, who founded Schenley Industries, a prominent U.S. distilling and spirits importing company. He joined Schenley and eventually became its president but was forced out amid a family conflict in 1970.
Following his wife’s passing in 1973, Frank established the Sidney Frank Importing Company, where he acted as chairman and CEO. Headquartered in New Rochelle, New York, his firm acquired the U.S. distribution rights for Jägermeister, a traditional German herbal liqueur, transforming it into a widely recognized brand favored by college-aged consumers throughout the 1980s.
His initial significant breakthrough involved purchasing Jacques Cardin brandy from Seagram in 1979. In 1997, Frank launched Grey Goose vodka, crafted in France by François Thibault. Through strategic marketing efforts, he elevated the brand’s profile until its $2 billion acquisition by Bacardi in 2004.
Later in life, Frank acquired the magazines Travel Savvy and Business Traveler for $4 million.
In 2004, he introduced Crunk Energy drink to the market; this brand was later sold to Solvi in 2017 while retaining rapper Lil Jon as chief brand advisor.
Philanthropy
Frank was known for awarding substantial bonuses to his staff and contributed $12 million to The Norwich Free Academy in 2005. That same year, he donated £500,000 along with a statue created by sculptor Stephen Kettle to the Bletchley Park Trust, facilitating the establishment of a new Science Center honoring Alan Turing. As an enthusiast of the Supermarine Spitfire, he commissioned a full-scale statue of its designer, R. J. Mitchell, and funded a dedicated website commemorating him.
He gave $5 million to the psychiatry department at the New York Medical College, founding the Sidney Frank fellowship aimed at introducing medical students to psychiatry early in their training. His foundation also supported the Israel Olympic Committee and provided scholarships for athletes from Israel.
In 2004, Frank made a historic $100 million gift to his alma mater Brown University, marking its largest single donation ever; this endowment established the Sidney E. Frank Scholarship benefiting roughly 130 underprivileged students annually. The following year, he contributed $5 million toward Brown’s relief efforts after Hurricane Katrina. In recognition of his generosity, Brown named its Life Sciences building after him in 2006 following a $20 million donation toward its construction. Frank remains Brown University’s most significant benefactor.
Personal life, death and legacy
Frank was married on two occasions. His first spouse, Louise "Skippy" Rosenstiel, the daughter of Lewis Rosenstiel, passed away in 1973; together they had two children: Matthew Frank and Cathy Frank Finkelstein Halstead, who was at one time married to James A. Finkelstein before their divorce. In 1975, Frank entered into marriage with Marian Elinor Ombres.
He passed away on January 10, 2006, at the age of 86 due to heart failure while aboard a private aircraft en route from San Diego, California to Vancouver, British Columbia. Despite the presence of medical personnel and a defibrillator on board, resuscitation efforts were unsuccessful. Funeral services took place at Riverside Memorial Chapel, and he was interred in the Rosenstiel family section at United Jewish Cemetery located in Cincinnati.
Cathy Frank Halstead, his daughter, serves as chairperson of Sidney Frank Importing Company and played a pivotal role in founding Montana's Tippet Rise Art Center. She was also central to a widely publicized legal dispute concerning her grandfather’s estate that resulted in attorney Roy Cohn being disbarred for unethical behavior.
Both Sidney Frank and his son Matthew initiated separate lawsuits against the Rosenstiel estate. Following its acquisition by Jägermeister in 2015, Sidney Frank Importing Company was rebranded as Mast-Jägermeister US, with Cathy Frank no longer holding an officer position.
Further reading
- Diane Brady. "The Wily Fox Behind Grey Goose". Business Week. September 20, 2004. 71, 73.
- Frank J. Prial. "The Seller of the Goose That Laid a Golden Egg". The New York Times. January 1, 2005. C1, C2.
- Matthew Miller. "The Bartender". Forbes. October 11, 2004. 68.
- Seth Schechter. "Martini Wonderland". CreateSpace. April 4, 2015.
External links
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- 1919 births
- 2006 deaths
- American billionaires
- American drink industry businesspeople
- American businesspeople in shipping
- American chief executives of food industry companies
- Brown University alumni
- Businesspeople from California
- Businesspeople from Greenwich, Connecticut
- People from Montville, Connecticut
- Businesspeople from New Rochelle, New York
- People from Rancho Santa Fe, California
- Philanthropists from New York (state)
- 20th-century American philanthropists
- 20th-century American businesspeople
- 20th-century American Jews
- 21st-century American Jews