Samuel Sachs

American investment banker

For the American museum director, see Samuel Sachs (museum director).

Samuel Sachs

Born| (1851-07-28)July 28, 1851

Maryland, U.S.

Died| March 2, 1935(1935-03-02) (aged 83)

New York City, U.S.

Occupation| Investment banker
Known for| Name partner of Goldman Sachs
Spouse|

Louisa Goldman

(m. 1882)​

[1]
Children| Paul J. Sachs (1878–1965)
Arthur Sachs (1880-1975)
Walter E. Sachs (1884–1980)
Ella Sachs Plotz (1886-1922)
Parent(s)| Sophie and Joseph Sachs
Family| Julius Sachs (brother)
Bernard Sachs (brother)
Marcus Goldman (father-in-law)

Samuel Sachs (/zɑːks/; July 28, 1851 – March 2, 1935) was an American investment banker. He is most known for co-founding Goldman Sachs along with Marcus Goldman.[2] He is noted for changing the nature of merchant banking by underwriting of the flotation of many major companies through the use of these sales to raise funds.[3]

## Early life

[edit]

Samuel Sachs was born on July 28, 1851, in Maryland, the son of Sophie (née Baer) and Joseph Sachs, both Jewish immigrants from Bavaria, Germany.[4] The family fled Germany to avoid the crises in the country that led to the revolutions of 1848.[3] Sachs had one older sibling, Julius Sachs, and three younger siblings, Emily Sachs, Henry Sachs, and Bernard Sachs.[4]

## Career

[edit]

Sachs, along with his longtime friend Philip Lehman of Lehman Brothers, pioneered the issuing of stock as a way for new companies to raise funds.

Sachs then joined his father-in-law Marcus Goldman's firm which prompted the name change to Goldman Sachs in 1904. Together they underwrote securities offerings for such large firms as Sears, Roebuck and Company. During this time, Goldman Sachs also diversified to become involved in other major securities markets, like the over-the-counter, bond, and convertibles markets which are still a big part of the company's revenue today. Sachs retired in 1928.

## Philanthropy

[edit]

Sachs donated US$50,000 (equivalent to $889,000 in 2023) to Harvard University in 1924.[5]

## Personal life and death

[edit]

Sachs married Louisa Goldman, the youngest daughter of Marcus Goldman, also Bavarian Jewish immigrant.[4][6] They resided at The Pierre.[7] They had four children: Paul Joseph Sachs, Arthur Sachs, Walter Edward Sachs, and Ella S. Sachs.[4]

Sachs died on March 2, 1935, in New York City.[7][8]

## See also

[edit]

* Goldman–Sachs family

## References

[edit]

1. ^ McCraw, Thomas K. (2010). "Immigrant Entrepreneurs in U.S. Financial History, 1775–1914". Capitalism and Society. 5 (1): Article 3. doi:10.2202/1932-0213.1070. S2CID 154826977. SSRN 2208682.
2. ^ "Marcus Goldman & Samuel Sachs". www.jewishvirtuallibrary.org. Retrieved 2023-06-07.
3. ^ a b III, Kenneth E. Hendrickson (2014-11-25). The Encyclopedia of the Industrial Revolution in World History. Lanham, MD: Rowman & Littlefield. p. 815\. ISBN 978-0-8108-8888-3.
4. ^ a b c d Hendrickson III, Kenneth E. (July 14, 2015). The Encyclopedia of the Industrial Revolution in World History, Volume 3. Rowman & Littlefield Publishers. p. 815\. ISBN 9780810888883.
5. ^ "Harvard Fund Given $100,000 By N.Y. Bankers". The Brooklyn Daily Eagle. Brooklyn, New York. June 19, 1924. p. 36. Retrieved June 1, 2016 - via Newspapers.com.
6. ^ Kappner, Cordula (2008-03-12). "Marcus Goldmann und der amerikanische Traum". Mainpost (in German).
7. ^ a b "Samuel Sachs, Banker, Philanthropist, Dies". The Oakland Tribune. Oakland, California. March 3, 1935. p. 1. Retrieved June 1, 2016 - via Newspapers.com.
8. ^ "Veteran Banker Dead". The Ogden Standard-Examiner. Ogden, Utah. March 3, 1935. p. 2. Retrieved June 1, 2016 - via Newspapers.com.

Business positions

Preceded by

Marcus Goldman

|  Chairman and CEO, Goldman Sachs
1894–1928  | Succeeded by

Sidney Weinberg

* v
* t
* e

Goldman Sachs

Founders|

* Marcus Goldman
* Samuel Sachs

Notable
executives|

| Current|

* Lloyd C. Blankfein (Senior Chairman)
* David M. Solomon (Chairman and CEO)

|

Former|

* David A. Viniar
* Gary Cohn
* Harvey Schwartz
* Henry Paulson
* Mark Carney
* Robert Rubin

Divisions|

* Goldman Sachs Capital Partners
* Petershill Partners

Historical components|

* Commodities Corporation
* United Capital
* NN Investment Partners

Buildings|

* 200 West Street
* 30 Hudson Street

Others|

* 10,000 Small Businesses
* 10,000 Women
* Goldman Sachs controversies
* Goldman Sachs Foundation
* GreenSky
* List of former employees of Goldman Sachs
* Symphony Communication

Authority control databases

International|

* VIAF

National|

* Germany

*[m.]: married
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