George Karfunkel (born 1948/1949) is an American businessman, the co-founder of companies including AmTrust Financial Services, and a survivor of Operation Entebbe.
Early life
George Karfunkel was born in Hungary, the son of Louis Karfunkel (1914–1997), a religious scholar and fishmonger, and his wife Clara.[1][2] The family migrated to the US in the late 1950s, after the failed Hungarian Revolution of 1956, and lived in the Orthodox community of Boro Park in Brooklyn, New York City.[1][3] His older brother Michael Karfunkel, died in April 2016, aged 72.
Career
In 1971, he co-founded American Stock Transfer & Trust Company, LLC.[4]
In 1998, AmTrust Financial Services was founded by brothers George and Michael Karfunkel.[1][5]
Karfunkel has been a director of Kodak since September 2013.[4]
On July 29, 2020, Karfunkel and his wife Renee donated 3 million of their 6.3 million Kodak shares to Congregation Chemdas Yisroel, a tax-exempt religious organization, and they will be able to claim this donation as a tax deduction.[6][7] Karfunkel founded Congregation Chemdas Yisroel in 2018.[7] On July 27, the Trump administration awarded Kodak an "unprecedented" $765 million Defense Production Act loan, and the share price soared from $2.16 to $60.[6] Upon the donation of 3 million of their 6.3 million Kodak shares, the Karfunkels would be entitled to a tax deduction of $116.3 million for shares that two days earlier had been worth $6.39 million.[8] A new document filed on January 12, 2021, seemingly contradicts the previous security filing by specifying that only 2 million of their 6.3 million Kodak shares have been donated to the organization, thereby producing a tax deduction of $77.5 million.[8]
Personal life
In 1976, he was one of the survivors of Operation Entebbe, when Palestinian terrorists hijacked an Air France plane and flew it to Entebbe, Uganda, and 102 of the 106 hostages were rescued by Israel Defense Forces (IDF) commandos.[1]
Karfunkel is married to Renee.[6] Their daughter Anne Neuberger works in the Biden administration as Deputy National Security Adviser for Cybersecurity.[1][9] Anne Neuberger is married to Yehuda Neuberger.
References
- Michael Karfunkel, the Orthodox Billionaire No One Heard Of, Dies at 72 The Forward, April 28, 2016^
- Paid Notice: Deaths KARFUNKEL, LOUIS New York Times, April 2, 1997, retrieved 16 August 2020^
- Roddy Boyd. The Mitzvah Factory The Foundation for Financial Journalism, August 17, 2014, retrieved 16 August 2020^
- Board of Directors | Eastman Kodak Company investor.kodak.com, retrieved August 16, 2020^
- AmTrust Financial Services, Inc. Announces The Passing Of Founder And Chairman Michael Karfunkel The Street, 27 April 2016, retrieved 29 June 2016^
- David Corn. The White House–Kodak Controversy Has a New Angle: A Billionaire's Huge Stock Gift to a Synagogue Mother Jones, August 11, 2020, retrieved August 16, 2020^
- Theo Francis, Mark Maremont and Geoffrey Rogow. Kodak Insider Makes Well-Timed Stock Gift of $116 Million to Religious Charity He Started Wall Street Journal, August 11, 2020^
- Mark Maremont. Kodak Director Makes Retroactive Cut to Huge Charity Stock Gift Wall Street Journal, January 13, 2021, retrieved January 16, 2021^
- Jacob Kornbluh. Enough for a minyan: A Jewish Who's Who of Biden's Cabinet-to-Be Forward, January 18, 2021, retrieved January 20, 2021^