Michael Benjamin (investor)
Michael Benjamin | |
|---|---|
 Michael Benjamin at a 2004 Support the Troops Rally in New York City's Times Square. | |
| Personal details | |
| Born | November 1, 1969 New York City,U.S. |
| Spouse | Meaghan Benjamin |
| Residence(s) | New York City,U.S. |
| Occupation | Private Investor |
Michael Benjamin(born November 1, 1969) was bornMichael Benjamin BonheurinNew York City,New York,United States.Benjamin works as a private investor focusing on Internet companies. He was an unsuccessfulRepublicancandidate for theUnited States Senatein 2004.[1]
Personal background
[edit]He is the son of anIranian Jewishfather that immigrated to the United States fromTehranin 1950 and a Catholic mother who immigrated fromHonduras.[2]
Soon after Michael's birth the family moved toSan Pedro Sula,Honduras, where his father was relocated with his job atBank of America.After about one year in San Pedro Sula they moved to the capital,Tegucigalpa,for another year. In 1971, the family moved toLima, Peruand in 1973, they moved toQuito, Ecuador.Michael attended school at the AmericanCotopaxi Academy.[3]
Several years later, in 1976, the family moved back to the U.S. They settled in the New York City suburb ofGreenwich, Connecticut,where they lived for four years. Michael attended North Street Elementary School. In 1980, the family relocated toBogotá, Colombia.Michael attended the American schoolColegio Nueva Granada.Soon after, in 1982, they moved toMexico City,where Michael attended theAmerican School Foundation.They left Mexico in 1987 and, after a brief stay inSan Francisco,moved back to Greenwich. Michael attended his senior year atGreenwich High School.[3]While there, he was awarded High Honors by theNAACPfor his writing in recognition of Black History Month.[4]
Benjamin attendedNew York Universitywhere he studied economics and Western literature and was elected president of the student government for his junior and senior years. He received hisBachelor of Artsin 1992 and shortly thereafter began work as an assistant to the president of Richter & Co., Inc., aninvestment bankin midtownManhattanknown primarily for launching Cerberus Partners, L.P. a major American hedge fund. He later worked in the insurance industry with American Corporate Benefits, Inc. andGuardian Life Insurance Company,before starting his own securities trading and investments business in 1997.
The New York Benevolence Council, Inc.
[edit]Along with another graduate of NYU, Benjamin founded the New York Benevolence Council, Inc. in 1993, a non-profit organization which provided mentoring and tutoring in New York City public schools, coordinated food and clothing drives, and organized fund-raisers in support of various humanitarian causes. At its height in the late 1990s and early 2000s, NYBC had over 1,000 young professionals serving as volunteer tutors and mentors to public school students, and organizing fund-raising benefits primarily for women and children who were victims of domestic violence. In 2002, New York City MayorMichael Bloombergawarded NYBC a community service award for its work on behalf of victims of domestic violence. In 2003, after a 10-year run, NYBC donated its assets to various charitable organizations and ceased operations.[5]
Political career
[edit]1996 Congressional Race
[edit]In 1996, at the age of 26, Benjamin was the Republican nominee for the U.S. Congress fromNew York's 8th district,covering parts of Manhattan and Brooklyn.[6]Although he lost the race, Benjamin received notable endorsements from MayorRudolph W. Giulianiand theNew York Post.The chairman of the campaign wasJohn C. Whitehead,former chairman ofGoldman Sachs& Co. and of theFederal Reserve Bank of New York.Whitehead went on to head theLower Manhattan Development Corporation,the organization in charge of rebuilding theWorld Trade CenterafterSeptember 11 attacks.[7]
2004 Senate Race
[edit]In January 2003, Benjamin declared his intentions to run for the United States Senate against incumbent DemocratChuck Schumer.[1]Initially regarded as a long shot, Benjamin stunned many observers when he quickly raised over $820,000 for the campaign from over 20,000 different individuals.[8]
The conservative Benjamin battled with thestate GOP,which decided in August 2004 there would be no primary.[9]Despite his impressive fundraising, theRepublican State Committeenominated moderate AssemblymanHoward Millsto run against Schumer. Mills went on to lose the election in the largest landslide for a Senate seat in the history of New York.[10]
Benjamin publicly accused New York GOP ChairmanSandy Treadwelland GovernorGeorge Patakiof trying to muscle him out of the Senate race and undermine the democratic process.[11]Many Republican voters were upset when Benjamin was denied the chance to engage in a primary.[12]He had campaigned throughout New York, visiting all 62 counties on several occasions, and had built strong support among political leaders and community groups.[13]In addition, Benjamin received the majority of his financial support in small donations, with only $2,500 fromPolitical Action Committees(PACs).[8]Mills had raised $200,000 less than Benjamin, and a large portion of his campaign contributions came from PACs.[9]
Many New York Republicans were irked again in 2006 when a similar situation unfolded as the state party decided to nominateWestchester CountyDistrict AttorneyJeanine Pirroover conservative lawyerEd Cox,even though Cox had raised over $1.3 million to Pirro's $400,000.[9]There has not been a Republican primary for Senator since 1992.[12]
His platform included simplifying the tax code, lowering taxes, reducing government spending, Social Security private accounts, a strong national defense, and a no-nonsense approach toward Iran, Syria and North Korea.[14]His platform advocated for school choice for "all parents, not just the rich".[15]Benjamin supported banning partial-birth abortion, except for cases where the mother's life is at risk, and abolishing unfundedMedicaidmandates on municipalities.[15]He also stated he wanted to bring jobs back to New York and limit government intervention in the economy.[15]He espoused many very conservative opinions including support for thewar in Iraq[16]and supported both thePatriot Actand the inclusion of Iran as part of theAxis of EvilbyPresident Bush.[14]
Electoral history
[edit]| Party | Candidate | Votes | % | ±% | |
|---|---|---|---|---|---|
| Democratic | Jerrold Nadler | 131,943 | 82.3 | ||
| Republican | Michael Benjamin | 26,028 | 16.2 | ||
| Conservative | George A. Galip, Jr. | 2,381 | 1.5 | ||
| Majority | 105,915 | 66.1 | |||
| Turnout | 160,352 | 100 | |||
Notes
[edit]- ^abWall Street Trader Moves to Challenge Schumer.Humbert, Mark. Associated Press, March 31, 2003.
- ^Benjamin for U.S. Senate Website, Family Background section.
- ^abBenjamin for U.S. Senate Website, Personal Background section.
- ^"The Federal Government & Civil Rights Since 1945",Greenwich Time,February 28, 1988.
- ^New York Benevolence Council Website
- ^By Day He Trades Stocks, Then Dreams of Challenging Senator Schumer.Starks, Timothy.New York Sun,June 3, 2003.
- ^Benjamin for U.S. Senate, Political Experience section
- ^abOpenSecretsArchived2007-10-13 at theWayback Machine,December 31, 2004.
- ^abcRemember Senate 2004,November 20, 2005.
- ^Major Parties to Anoint their Senate Combatants.Humbert, Mark. Associated Press, May 15, 2004.
- ^Senate hopeful claims GOP Boss es snubbed him.Albany Times-Union,February 25, 2004.
- ^abPetition to Open the NY Republican Primary for Senator[permanent dead link],retrieved on July 19, 2007.
- ^He's Spoiling for a Chance to Take On Schumer.Hernandez, Raymond.New York Times,November 10, 2003.
- ^abBenjamin for U.S. Senate Website, Key Issues
- ^abcOpenSecretsMichael Benjamin on the issues, retrieved on July 17, 2007.
- ^U.S. Senate Candidate Michael Benjamin Supports President Bush's Decisive Global Leadership On Iraq.Benjamin for Senate 2004 Press Release, dated March 17, 2003.
External links
[edit]- Benjamin for Senate 2004 Website,Archive of benjamin2004
- New York Times profile
- New York Benevolence Council Website,Archive of nybc.us
- Save New York Website,Archive of savenewyork.org
- National Iranian American Council
- 1969 births
- American financiers
- American investors
- American money managers
- Businesspeople in insurance
- American people of Honduran descent
- American politicians of Iranian descent
- Jewish American people in New York (state) politics
- Living people
- New York (state) Republicans
- New York University College of Arts & Science alumni
- Politicians from New York City
- Greenwich High School alumni
- 21st-century American Jews