NET WORTH: Unknown
SOURCE OF WEALTH: Cofounding partner of Sanford C. Bernstein & Co (now AllianceBernstein)
JEWISH FUNDING AREAS: Education, Israel Advocacy, Community & Religious Organizations
OVERVIEW: Roger Hertog chairs the board of Tikvah Fund, an outfit founded by his late business partner Sandy Bernstein. Tikvah supports the "intellectual, religious, and political leaders of the Jewish people and the Jewish State." Hertog and his wife Susan's philanthropy is extensive and varied, but one interest area is the Jewish community in the U.S. as well as in Israel. The foundation has a strong web presence, but does not accept unsolicited proposals. Hertog plans to spend down his money in his lifetime, and focuses on making shrewd investments to achieve maximum impact.
BACKGROUND: The son of an auto mechanic and a homemaker, Roger Hertog grew up in a Jewish family in the Bronx. Except for his parents and two aunts, Hertog lost his entire family in the Holocaust. He attended City College at night and worked a clerical job in the mailroom of a small firm which piqued his interest in finance. He worked at Oppenheimer & Co., where he met Sanford Charles (“Sandy”) Bernstein. Hertog was was one of the founding partners of Sanford C. Bernstein & Company in 1968 and served as the firm’s president until its combination with Alliance Capital Management in 2000. He remains vice chairman emeritus of AllianceBernstein.
FUNDING PROFILE: Roger Hertog chairs the board of the Tikvah Fund, a "philanthropic foundation and ideas institution committed to supporting the intellectual, religious, and political leaders of the Jewish people and the Jewish State." When Hertog's longtime business partner and friend Bernstein was diagnosed with lymphoma, Bernstein asked Hertog to become chairman of the organization.
Hertog and his wife Susan also move philanthropy through the Hertog Foundation, an outfit which supports many causes, including the Jewish community. Hertog lost most of his family in the Holocaust and has said that he was “obsessed as a young kid with trying to understand what happened."
The couple via their foundation support organizations that work for/in Israel such as American Friends of Bar-Ilan University; American Friends of Beit Hatfutsot, which supports Beit Hatfutsot, the Museum of the Jewish People; and American Friends of Beit Issie Shapiro, which supports Israel's leading organization in the field of disability. The couple has supported Friends of Israel Defense Forces, Central Fund, and Friends of Ir David, among others.
The Hertogs are certainly interested in education. Outside of their work in the Jewish community, they back charter schools and education reform. In the Jewish community, they've supported institutions like Friends of Hebrew Language Academy of Charter Schools, Yeshiva University and Yivo Institute of Jewish Research.
The couple has also given strong support to Hebrew Home for the Aged in New Jersey. Other grantees have included Park Avenue Synagogue, Palm Beach Synagogue, UJA Federation of New York, and Hazon, "a Jewish environmental organization working to build a healthier and more sustainable Jewish community."
LOOKING FORWARD: It's unclear how much Hertog has left in the pot, but in a recent fiscal year his foundation held some $32 million in assets. For a look at this funder's overall philanthropy, read our Wall Street Profile of Roger Hertog.