New York City Executive and Generous Philanthropist Leon G. Cooperman to Receive 2015 Horatio Alger Award

WASHINGTON, Dec. 4, 2014 /PRNewswire/ -- Horatio Alger Association of Distinguished Americans, Inc., a nonprofit educational organization honoring the achievements of outstanding individuals and encouraging youth to pursue their dreams through higher education, today announced that Leon G. Cooperman, founder, chairman and CEO, Omega Advisors, Inc., has been selected for membership in the prestigious organization.  Mr. Cooperman joins eleven other accomplished business and civic leaders from across North America in receiving this honor in 2015.  Since its establishment in 1947, the Horatio Alger Award is annually bestowed upon renowned leaders who have succeeded, despite facing adversity, and who are committed to both philanthropy and higher education.

The son of an immigrant plumber, Mr. Cooperman was born in the South Bronx of New York City.  Part of a family of four, his parents rented a one-bedroom apartment where he and his brother slept in the living room.  Mr. Cooperman, who learned the value of hard work from his father, was the first person in his family to attend college, graduating from the City College of New York's Hunter College in just three years.  In 1965, he joined Xerox as a quality control engineer while simultaneously earning his MBA at Columbia Business School.  Obtaining his master's degree allowed him to pursue his dream of a career in investment research and upon his graduation from Columbia, Mr. Cooperman joined Goldman Sachs.  Throughout his 25-year tenure at the company, he held various positions in the Investment Research Department and in 1989, he became chairman and CEO of Goldman Sachs Asset Management and chief investment officer of the equity product line.  In his time at Goldman, he was voted the number one portfolio strategist in Institutional Investor magazine's All-America Research Team survey for nine consecutive years.  A well-respected and tactical leader, he retired from Goldman Sachs in 1991 and organized a private investment partnership, Omega Advisors, Inc.  Mr. Cooperman currently serves as chairman and CEO of the firm, which today manages more than $10 billion in assets.

"Leon Cooperman's leadership and work ethic in the financial world are simply unparalleled," said Tony Novelly, president and CEO, Horatio Alger Association and 2000 Horatio Alger Award recipient.  "From the child of Polish immigrants living in a one bedroom apartment to one of this nation's great business minds and philanthropists – it is clear that Mr. Cooperman not only meets the standard for lifetime membership of the Association, but exceeds it.  We are proud to welcome him as a Member and we have no doubt that he will serve as a wonderful advocate for the Association and its mission."

Philanthropically, Mr. Cooperman and his wife, Toby, are signers of The Giving Pledge and also manage a family foundation.  A committed donor to Columbia Business School, Mr. Cooperman has given $25 million in support of the school's expansion plan.  He has also generously gifted $25 million respectively to St. Barnabas Medical Center Foundation, Hunter College and Cooperman College Scholars.  In 2007, he and his wife created the Cooperman Scholarship Challenge, which provided more than 40 scholarships to students in need.  Proud of his religion and heritage, Mr. Cooperman is also a donor to Birthright Israel, a program that promotes Jewish identity and sends Jewish young adults to Israel for a short-term visit.  In 2014, he received the Distinguished Leadership in Business Award from Columbia Business School.

Regarding the Horatio Alger Award, Mr. Cooperman commented, "It is a great honor to be inducted into this renowned Association and to be recognized for both my professional accomplishments as well as the humble beginnings that shaped who I have become.  My family taught me the power of hard work, determination and having passion for all that you do.  I have carried these lessons with me every day of my life and it has served me well.  I am proud to join an organization that not only values those same principles, but empowers the next generation of American leaders to live them." 

In addition to presenting its annual award, Horatio Alger Association administers one of the largest, privately-funded scholarship programs for students in the United States and Canada.  These students, like the Members, have faced significant adversities, but have persevered and are determined to overcome life's challenges.  Scholarships are wholly funded through private donations from Members, Life Partners and friends, and since 1984, the Association has provided more than $100 million to promising students in need.

Mr. Cooperman and the Member Class of 2015 will be officially welcomed into the organization during the 68^th Annual Horatio Alger Award Induction Ceremonies in Washington, D.C. April 9-11, 2015.  In addition to recognizing these tremendous leaders, Horatio Alger Association will also honor its 2015 National Scholarship recipients, affording both groups the opportunity to meet and learn from one another.

For more information about Horatio Alger Association and a full list of its Class of 2015, please visit www.horatioalger.org.

About Horatio Alger Association of Distinguished Americans:
Founded in 1947, the Horatio Alger Association of Distinguished Americans, Inc., fulfills its mission of honoring the achievements of outstanding individuals who have succeeded in spite of adversity and of encouraging young people to pursue their dreams through higher education. Horatio Alger Association supports students through annual undergraduate and graduate need-based scholarships and mentoring programs across the United States and Canada. Since 1984, the Association has awarded more than $100 million in college scholarships to deserving young people.  For more information, please visit www.horatioalger.org.

CONTACT:
Meg Kane
484-385-2938 (office)
[email protected]

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SOURCE Horatio Alger Association of Distinguished Americans, Inc.

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