Albert Reichmann - Biography

Albert Reichmann (born 1929) was one of the five brothers that controlled the Reichmann business empire.

Life

Albert joined his brothers Paul and Ralph in Toronto. While the eldest of the three, it was Paul who had the keenest business sense and was the president of Olympia and York, in 1989 worth 8.4 billion dollars.

Albert served in a secondary role as chairman of the company. While playing an important role in the workings of the firm Albert was most known for his philanthropic work. In the late 1980s while Paul was devoting his time to the Canary Wharf project, Albert became closely involved in the cause of the Jews in the Soviet Union. Reichmann used his money and influence to try to allow them to emigrate to Israel. In 1993, it was reported that he lobbied congress about Libya and Israel. His endowment is based in Brooklyn, New York.

After the collapse on O&Y in 1992 Albert Reichmann became president of Heathmount Arts and Entertainment Corp, a company owning a number of entertainment venues. He ran the company alongside his nephew Abraham Reichmann. The true dream of the company was the construction of a giant amusement park, known as the Technodome, inside Montreal. This project has stalled, however.

His son is Philip Reichmann, (born 1958) who manages O & Y Properties Inc.

He is an investor in ImageSat, who sued the company.

He lives in Miami Beach.

External links

• "Reichmann Family", Business Week