Residence Manhattan, New York Education High School dropout | Spouse(s) Ethel Strong Name Herbert Allen, | |
Died January 18, 1997 (age 88)
Manhattan, New York Occupation Stockbroker/Investor/Racehorse owner Board member of Allen & Company, Benguet Consolidated Mining Co., Ogden Corp., Irvine Company | ||
Herbert Allen Sr. (February 13, 1908 – January 18, 1997) was an American stockbroker.
Contents
Biography
A partner in Allen & Company with his older brother, Charles Robert Allen Jr., for more than fifty-five years. They were one of the first in the industry to specialize in corporate takeovers. One of the wealthiest figures on Wall Street, in 1956 he was appointed chairman of Benguet Consolidated Mining Co. which had chrome and gold mining operations in the Philippines. Among his other investments, the Allen brothers' company held an eighty percent share position in Ogden Corporation as well as a substantial holding in pharmaceutical manufacturer, Syntex Corporation. He also controlled the Irvine Ranch in California, which was converted into a substantial real estate development company.
He was a major benefactor to Columbia-Presbyterian Medical Center, which named a community hospital in honor of the family. Herbert Allen became a major participant in Thoroughbred horse racing.
Personal life
He was married to Ethel Strong.