Fact-checked by Grok 2 weeks ago

B. Gerald Cantor

B. Gerald Cantor (December 17, 1916 – July 3, 1996) was an American financier, philanthropist, and art collector best known for founding the securities brokerage firm Cantor Fitzgerald in 1945 and amassing the world's largest private collection of Auguste Rodin's sculptures, comprising around 750 works that he donated to over 70 institutions worldwide.^[1]^[2]^[3] Born Bernard Gerald Cantor in the Bronx, New York, to Julius Cantor and Rose Delson, he grew up in modest circumstances and began working young, selling hot dogs at Yankee Stadium during Sunday doubleheaders before age 15.^[1]^[4] He attended DeWitt Clinton High School, studied business at New York University, and served in the U.S. Army during World War II in the South Pacific.^[2]^[3] After the war, Cantor entered the securities industry, establishing Cantor Fitzgerald as a pioneering firm in over-the-counter bond trading, which grew into a global leader with approximately 2,000 employees and $200 million in capital by the mid-1990s.^[3] Under his leadership, the company became the largest broker in the $3.3 trillion U.S. Treasury securities market and innovated by acquiring Telerate Inc. in 1972—selling it in 1981 for 30 times the purchase price—and introducing 24/7 electronic global access to Treasury markets.^[3] Cantor's passion for art led him to collect extensively, focusing on Rodin, whose works he began acquiring in the 1970s; his collection advanced scholarship on the sculptor and made pieces accessible to the public through strategic gifts, including over 50 sculptures to the Brooklyn Museum and contributions to the Metropolitan Museum of Art's Iris and B. Gerald Cantor Roof Garden, which opened in 1987.^[1]^[2]^[3] In 1977, he married Iris Bazel, with whom he co-founded the Iris & B. Gerald Cantor Foundation in 1978 to support visual arts, medical research, and healthcare initiatives; the foundation has since funded cultural philanthropy and institutions like UCLA's Iris Cantor–UCLA Women's Health Center.^[2]^[5] Earlier married to Leona Witzel, with whom he had one son, Cantor and his family held a significant stake in the firm until a 1996 settlement converted it to a limited partnership interest.^[6]^[3] Cantor's philanthropy extended beyond art to medical causes, reflecting his own battle with diabetes, which contributed to his death at age 79 in Beverly Hills, California.^[3] His contributions earned him and Iris the National Medal of Arts in 1995, presented by President Bill Clinton and First Lady Hillary Clinton for their patronage of the arts.^[7]^[2] Cantor's legacy endures through Cantor Fitzgerald's influence in financial markets, the widespread display of Rodin sculptures in public collections, and the ongoing work of his foundation.^[5]^[8]

Early life and education

Childhood and family

B. Gerald Cantor was born on December 17, 1916, in the Bronx, New York City, to Julius Cantor, a modest worker, and Rose Delson.^[1]^[9] The family resided in modest circumstances amid the working-class neighborhoods of the Bronx, where economic hardships were commonplace.^[10] Cantor's mother later described him as a "destructive, inquisitive little boy who liked to break open his toys," reflecting a childhood marked by curiosity and hands-on exploration despite limited resources.^[9] The Cantors encountered significant economic challenges during the Great Depression, a period when employment opportunities were scarce and financial stability elusive for many families in New York.^[2] Growing up in this environment instilled in young Cantor an early awareness of fiscal pressures, as the era's widespread unemployment and poverty affected daily life in immigrant and working-class communities.^[10] These circumstances shaped his resourcefulness, evident in his teenage years when he began working as a vendor at Yankee Stadium, selling peanuts, popcorn, and hot dogs during doubleheaders to contribute to the household.^[2]^[1] Household dynamics emphasized perseverance amid adversity, with Cantor's inquisitive nature—nurtured in a close-knit family setting—driving his early initiatives. No records detail siblings, suggesting a focused family unit centered on survival and self-reliance during the 1920s and 1930s. This foundational period transitioned into his formal education at DeWitt Clinton High School, where he excelled in mathematics.^[2]

Formal education

B. Gerald Cantor attended DeWitt Clinton High School in the Bronx, graduating in 1934. There, he demonstrated exceptional aptitude in mathematics, which helped cultivate his analytical skills essential for future endeavors.^[2]^[11] Coming from a modest immigrant family in the Bronx, Cantor's academic dedication was driven by a determination to achieve financial stability amid economic hardship. In 1935, he enrolled at New York University (NYU), initially pursuing pre-law studies before shifting to business and economics courses, influenced by the ongoing Great Depression.^[2]^[1] During his teenage years, including around the time of high school, Cantor worked part-time selling peanuts, popcorn, and hot dogs at Yankee Stadium during doubleheaders, experiences that reinforced his industrious work ethic and resilience. His NYU coursework, focused on law and finance through 1937, further sharpened his quantitative and strategic thinking, laying the groundwork for a methodical problem-solving style.^[2]^[1]

Business career

Early employment

After studying business courses at New York University, initially as a pre-law student, B. Gerald Cantor entered the securities industry as an analyst on Wall Street.^[1]^[2] In this entry-level role, he gained foundational experience in evaluating securities amid the volatile economic conditions of the late 1930s, building practical knowledge of market dynamics that would inform his later entrepreneurial pursuits.^[4] His mathematical aptitude from NYU studies proved useful in handling the quantitative aspects of financial analysis during this period.^[2] As the United States entered World War II, Cantor enlisted in the U.S. Army, serving from 1941 to 1945 in the South Pacific theater.^[1]^[2] Stationed in a region marked by intense military operations, his service exposed him to high-stakes decision-making and resource management under pressure, skills that complemented his pre-war financial training.^[9] Upon his honorable discharge in 1945, Cantor returned to civilian life with enhanced resilience and a sharpened acumen for navigating uncertainty, setting the stage for his independent ventures in brokerage.^[2]

Founding and expansion of Cantor Fitzgerald

B. Gerald Cantor co-founded Cantor Fitzgerald in 1945 with John Fitzgerald as a bond brokerage firm in New York City, initially focusing on manual inter-dealer trading in fixed-income securities.^[12]^[10] The partnership leveraged Cantor's prior experience in securities to establish a niche in brokering trades between dealers, setting the foundation for the firm's specialization in institutional fixed-income markets.^[10] In the 1950s and 1960s, Cantor Fitzgerald introduced early innovations in inter-dealer brokerage models, emphasizing efficient voice-based trading for bonds and enhancing liquidity in over-the-counter markets. The firm adopted computer technology ahead of many peers to streamline operations, culminating in 1965 with the launch of large block trading services for institutional equities, which allowed for the handling of substantial volumes without market disruption. By 1972, under Cantor's direction, the firm acquired Telerate Inc. and pioneered the world's first electronic marketplace for U.S. government securities, revolutionizing trading efficiency through automated systems that reduced reliance on physical trading floors and improved speed and accuracy during the 1970s; Telerate was sold in 1981 for 30 times the purchase price.^[13]^[10]^[3] As chairman, Cantor oversaw the firm's expansion into government securities and international markets throughout the 1970s and 1980s, transforming Cantor Fitzgerald into a leading Wall Street inter-dealer broker. Key milestones included deepening involvement in U.S. Treasury trading and establishing global operations, such as a 1984 agreement with a London-based firm to broker U.S. Treasury securities internationally, which broadened the firm's reach amid growing cross-border financial activity. By the late 1980s, these efforts had elevated Cantor Fitzgerald to a major player in fixed-income brokerage.^[14]^[10]

Art collection

Origins of interest in art

B. Gerald Cantor's interest in art emerged in the mid-20th century, distinct from his burgeoning career in finance, as he became interested in Rodin after seeing a marble Hand of God (carved 1907) in New York in 1945. Raised in modest circumstances in the Bronx, Cantor encountered the New York art scene during the 1940s, a period when he was establishing himself professionally after serving in World War II. His exposure likely began through local galleries and institutions, influenced in part by his future wife Iris, who grew up just three blocks from the Brooklyn Museum and developed an early affinity for cultural pursuits.^[1] This proximity to major museums fostered a shared appreciation for art in their relationship, though Cantor's initial engagement was a personal exploration amid his rising financial success.^[15] By the late 1940s, Cantor's curiosity evolved into active collecting, marked by his first art purchase in 1946, which he acquired without deep prior knowledge of market trends. This step reflected a broader fascination with modern sculptures, drawn from encounters in New York and subsequent travels, including visits to European institutions in the 1950s. During these trips, he connected with influential figures such as museum directors, who provided guidance on discerning quality and authenticity, shaping his developing taste before any narrow specialization.^[15] Cantor later described art as a vital counterbalance to the intensity of his finance career, offering a creative and contemplative respite that complemented his analytical mindset.^[15] As his wealth grew through the expansion of Cantor Fitzgerald, founded in 1945, Cantor transitioned from casual appreciation to more deliberate acquisition, participating in auctions and private sales by the 1950s and 1960s. This period saw him dedicate space in his Beverly Hills office to display pieces, signaling a deepening commitment to art as both personal passion and cultural endeavor. Advisors played a key role in refining his approach, introducing him to scholarly resources and networks that elevated his collecting from impulsive buys to informed pursuits.^[15]

Focus on Rodin sculptures

B. Gerald Cantor began acquiring works by Auguste Rodin in the late 1940s, with his first purchase occurring in 1946, marking the start of what would become the world's largest private collection of the sculptor's oeuvre. Over the subsequent decades, particularly intensifying in the 1950s and 1960s, Cantor amassed over 750 pieces, encompassing bronzes, plasters, clays, ceramics, drawings, and related memorabilia. This collection surpassed all others in scope and depth at the time, reflecting Cantor's meticulous pursuit of Rodin's output from across the artist's career.^[1]^[15]^[16] Among the standout acquisitions were iconic works such as The Gates of Hell, for which Cantor commissioned a monumental bronze cast in 1977 through the Musée Rodin and the Coubertin Foundry; various iterations of The Thinker, including versions displayed prominently in his business offices; and studies for the Monument to Balzac, with ten bronze studies donated by the B. Gerald Cantor Foundation to the Museum of Modern Art prior to 1976. These pieces, along with others like The Burghers of Calais and portrait busts, were sourced primarily through private sales, auctions, and estates in Europe, where Cantor leveraged connections to access rare plasters and original molds held outside the official Musée Rodin holdings. His approach emphasized acquiring both finished bronzes and preparatory studies to capture Rodin's creative process comprehensively.^[15]^[17]^[8]^[18] To ensure authenticity and scholarly value, Cantor collaborated closely with experts, including art historian Reinhold Miller, who co-authored the 1986 catalog Rodin: The B. Gerald Cantor Collection published by the Metropolitan Museum of Art. This partnership involved rigorous authentication processes, such as examining provenance documents, consulting archival records from the Musée Rodin—access to which Cantor helped negotiate in 1975—and conducting technical analyses of materials and casts. Miller's expertise was instrumental in verifying the legitimacy of pieces from disparate European sources, preventing forgeries and establishing a benchmark for Rodin scholarship.^[8]^[15] Prior to broader public exhibitions, the collection was stored and displayed in Cantor's private residences and professional spaces, creating immersive viewing environments that highlighted Rodin's dynamism. In his Beverly Hills home, sculptures were arranged in sunlit galleries to emphasize their tactile qualities, while at Cantor Fitzgerald's World Trade Center headquarters, select works like The Thinker served as focal points in executive areas, allowing intimate appreciation by clients and staff. These setups underscored Cantor's vision of Rodin's art as a living presence, fostering personal engagement before the pieces were shared through loans and tours.^[15]^[1]

Philanthropy

Key donations to institutions

B. Gerald Cantor's philanthropy in the arts centered on sharing his extensive collection of Auguste Rodin sculptures with major institutions, ensuring public access to these works through strategic gifts during his lifetime. In 1974, he donated 52 Rodin sculptures and 4 drawings to the Los Angeles County Museum of Art (LACMA), which established the B. Gerald Cantor Sculpture Garden and featured the iconic Monument to Balzac as a centerpiece.^[1] This donation, drawn from his personal collection, transformed the museum's outdoor space into a dedicated venue for Rodin's bronzes, emphasizing Cantor's commitment to integrating sculpture with landscape for visitor engagement. Cantor extended similar generosity to other leading museums in the 1980s and 1990s, focusing on Rodin installations that enhanced their collections and exhibition programs. To Stanford University, he initially gave 88 Rodin works in 1974, followed by additional pieces and funding that supported the creation of the B. Gerald Cantor Rodin Sculpture Garden, which opened in 1985 and remains accessible 24 hours a day.^[19]^[20] At the Metropolitan Museum of Art (Met), Cantor contributed numerous Rodin sculptures, including support for gallery spaces and acquisitions, often with conditions ensuring permanent installation and naming acknowledgments to perpetuate educational access.^[17] These gifts, totaling dozens of bronzes and related items, were conditioned on their ongoing public exhibition, aligning with Cantor's philosophy that "art must be seen."^[17] He also donated over 50 Rodin sculptures to the Brooklyn Museum, contributing to more than 70 institutions worldwide.^[1] Beyond direct transfers, Cantor bolstered institutional efforts through targeted support for exhibitions and publications. A notable example is his backing of the 1986 Met exhibition and accompanying catalog, Rodin: The B. Gerald Cantor Collection, which showcased selections from his holdings and highlighted Rodin's techniques across 132 illustrations. This initiative, tied to his donations, promoted scholarly engagement with the works while securing their place in the museum's permanent collection for broad audiences. Such contributions underscored Cantor's role in elevating Rodin's legacy through named, enduring displays at cultural landmarks.^[8]

Creation of the Iris & B. Gerald Cantor Foundation

The Iris & B. Gerald Cantor Foundation was established in 1978 by philanthropists B. Gerald and Iris Cantor with the mission to promote art appreciation, particularly through the sharing of their renowned collection of Auguste Rodin sculptures, as well as to support medical research and education.^[5]^[21] The foundation served as a structured vehicle for their philanthropy, building on their earlier direct contributions to cultural institutions and enabling systematic grants and loans.^[15] The initial endowment was provided by the Cantors from their personal resources, including financial assets accumulated through B. Gerald Cantor's leadership of the brokerage firm Cantor Fitzgerald and their substantial art holdings, notably over 700 Rodin works acquired since the 1950s.^[22] This endowment, combined with the transfer of sculptures from the preceding B. G. Cantor Art Foundation, allowed the new entity to prioritize Rodin-related initiatives, such as loans for museum displays and grants for exhibition-related programming.^[22] Among its early programs, the foundation launched traveling exhibitions of Rodin sculptures in 1978, circulating selections to museums across the United States and Canada to foster public engagement with the artist's work; for instance, the 1983 tour of Sculptures from the B. G. Cantor Collections: Figures from Rodin’s Gates of Hell visited venues including the Detroit Institute of Arts and the Minneapolis Institute of Arts.^[23] These efforts reached diverse audiences and exemplified the foundation's commitment to art education in its formative years. During B. Gerald Cantor's lifetime, from the foundation's inception through his death in 1996, it operated as a private family foundation under the direct oversight of the Cantors, who shaped its grantmaking to favor high-impact projects in visual arts, healthcare innovation, and academic programs.^[24] Grant criteria emphasized support for established institutions, with awards directed toward exhibitions, medical facilities, and endowments that advanced public access to culture and health advancements, reflecting the couple's dual focus on "the body and the soul."^[21]^[15]

Personal life and legacy

Marriage and family

B. Gerald Cantor was first married to Leona Witzel, with whom he had one son; details about this son and their family life remained private.^[6] In 1977, Cantor married Iris Bazel, a Wall Street professional he met through their shared business circles.^[25] Born in Brooklyn, New York, in 1931, Iris developed a passion for art during childhood visits to the Brooklyn Museum alongside her sisters, an interest that later aligned closely with Cantor's own pursuits in collecting and cultural patronage.^[25] Their marriage, which lasted until Cantor's death in 1996, was marked by a strong partnership in personal and professional spheres, including Iris's role as Vice Chairman of Cantor Fitzgerald, the firm Cantor founded.^[25] The couple divided their time between residences in New York, where they were deeply embedded in the city's financial and art communities, and Beverly Hills, California, including a prominent Bel-Air estate built for Iris in the 1990s.^[26] Their family life emphasized privacy, with no children from the marriage, though they maintained close ties with Iris's sisters and supported causes influenced by personal family experiences, such as women's health initiatives stemming from the loss of one sister to breast cancer.^[25]

Death and enduring impact

B. Gerald Cantor died on July 3, 1996, in Beverly Hills, Los Angeles, at the age of 79 following a long illness.^[1] Private funeral services were held two days later in Los Angeles.^[3] Immediate tributes from the Wall Street community praised Cantor's innovative leadership in building Cantor Fitzgerald into a leading inter-dealer broker for government securities, emphasizing his role in pioneering electronic bond trading and global expansion.^[3] In the art world, figures such as Robert T. Buck, director of the Brooklyn Museum, lauded his transformative donations of Rodin sculptures that enriched public collections, while New York Times art critic John Russell highlighted the enduring appeal of the Iris and B. Gerald Cantor Roof Garden at the Metropolitan Museum of Art.^[1] Posthumously, Cantor received honors reflecting his dual legacies in finance and culture; in 1999, Stanford University's historic art museum was expanded and renamed the Iris & B. Gerald Cantor Center for Visual Arts in recognition of his and his wife's major contributions.^[27] Cantor Fitzgerald has sustained its global prominence under leaders including Howard Lutnick, who served as chairman and CEO until 2025, navigating challenges including the loss of 658 employees in the September 11, 2001, attacks while expanding into electronic trading and investment services.^[12] The Iris & B. Gerald Cantor Foundation has evolved under Iris Cantor's stewardship since his death, continuing to fund arts initiatives, medical research—particularly women's health—and educational programs, with grants distributed for over 35 years by 2025 that have supported institutions nationwide and advanced cultural and health outcomes.^[28]

References

[1]
B. Gerald Cantor, Philanthropist and Owner of Rodin Collection ...
Jul 6, 1996 · B. Gerald Cantor, who started out as a boy selling hot dogs at Yankee Stadium, became a wealthy financier and philanthropist, amassed the world's most ...
[2]
B. Gerald Cantor (1916-1996)
B. Gerald Cantor was a modern-day Renaissance man whose diverse achievements left enduring imprints in the arenas of business, philanthropy and the visual arts.
[3]
Securities Firm Founder Cantor Dies - Los Angeles Times
Jul 6, 1996 · B. Gerald Cantor, the Wall Street veteran who founded the securities firm Cantor Fitzgerald, died Wednesday after a long illness, a family spokeswoman said. He ...<|control11|><|separator|>
[4]
FINANCIER, PHILANTHROPIST B. GERALD CANTOR, 79
Jul 6, 1996 · Mr. Cantor was born on Dec. 17, 1916. Before he was 15, he became a vendor at Yankee Stadium. “I only worked during Sunday doubleheaders ...
[5]
Iris & B. Gerald Cantor Foundation: Home
Since 1978, the Iris & B. Gerald Cantor Foundation has been a force in cultural philanthropy, medical research, and health care.
[6]
Obituary: Gerald Cantor | The Independent
Jul 13, 1996 · Bernard Gerald Cantor, businessman and philanthropist: born 17 December 1916; married Leona Witzel (one son), 1977 Iris Bazel; died Beverly ...<|control11|><|separator|>
[7]
B. Gerald and Iris Cantor | National Endowment for the Arts
B. Gerald and Iris Cantor. arts patrons. 1995 National Medal of Arts Recipient. Stay Connected to the National Endowment for the Arts.
[8]
Rodin: The B. Gerald Cantor Collection
Rodin: The B. Gerald Cantor Collection. Miller, Reinhold, and Gary Marotta. 1986. 192 pages. 132 illustrations. This title is out of print.
[9]
GERALD CANTOR, 79, FINANCIER AND PHILANTHROPIST
Jul 6, 1996 · Bernard Gerald Cantor was born on Dec. 17, 1916, the son of Julius Cantor and the former Rose Delson. His mother once said that he was a ...Missing: childhood | Show results with:childhood
[10]
Bernard G. Cantor - MarketsWiki, A Commonwealth of Market ...
Dec 20, 2024 · Background[edit] Cantor was born on December 17, 1916, in New York City. He grew up in a working-class family in the Bronx during the Great ...
[11]
Cantor Business Center a Vital Part of DeWitt Clinton High School
Oct 10, 2013 · In 2006 the Iris & B. Gerald Cantor Foundation made a substantial gift to DeWitt Clinton High School to create the B. Gerald Cantor Business ...Missing: education University
[12]
Who We Are - Cantor Fitzgerald
Prior to joining Cantor, he served as the Head of Healthcare Investment Banking at Jefferies for six years. Before that, he held senior roles at UBS and ...Our Locations · Our Brands · Asset Management · ConferencesMissing: B. | Show results with:B.
[13]
[PDF] Summer Analyst Program - Cantor Fitzgerald
Sep 11, 2017 · 1965. Cantor Fitzgerald begins “large block” equities trading for institutional investors. 1972. Cantor Fitzgerald becomes the world's first ...
[14]
FINANCE/NEW ISSUES; Cantor Forms A London Link
Dec 7, 1984 · The Cantor, Fitzgerald Securities Corporation, a New York-based broker of Treasury securities, announced an agreement with Charles Fulton ...Missing: 1980s government
[15]
Iris and B. Gerald Cantor and Their Magnificent Obsession
During nearly 20 years of marriage the couple contributed millions of dollars toward the arts and medicine and gave more than 450 works from their 750-piece ...Missing: Jewish immigrant family Depression
[16]
France's First Self-Funded Museum, Musée Rodin, Showcases the ...
Jan 8, 2024 · From the 50s and 60s, Gerald B. Cantor and his wife Iris acquired more than 700 works by Rodin, making him the world's leading private collector ...
[17]
[PDF] RODIN - The B. Gerald Cantor Collection
Gerald Cantor collection not only typifies the recurrent interest in Rodin's work, but surveys little-known areas within the master's prolific working life.
[18]
A History of Philanthrophy - Iris & B. Gerald Cantor Foundation
Cantor's dedication to women's health issues began when her beloved younger sister was diagnosed with breast cancer and passed away from the deadly disease.Missing: brothers | Show results with:brothers
[19]
89 Rodins Find a New Home | STANFORD magazine
By Christine Foster. When B. Gerald Cantor, an “obsessed” collector of Auguste Rodin sculptures, first visited Stanford in 1973, he was wowed.
[20]
Auguste Rodin - The Hand of God - The Metropolitan Museum of Art
When the collector B. Gerald Cantor saw The Hand of God at the Met in 1945, it initiated what has been called a "magnificent obsession." Cantor's support of ...
[21]
Iris & B Gerald Cantor Foundation
Oct 15, 2025 · Purpose and Activities: Giving primarily for medical research and clinical care, as well as for art museums and educational institutions.
[22]
Rodin and the Cantor Foundation
Cantor Art Foundation began acquiring its own Rodins and Rodin-related objects. The Foundation's successor, the Iris & B. Gerald Cantor Foundation, has ...
[23]
Traveling Exhibitions - Rodin - Iris & B. Gerald Cantor Foundation
Beginning in 1978, the Iris & B. Gerald Cantor Foundation has shared its collection of Rodin sculpture with museums throughout the United States and Canada and ...
[24]
Who We Are - Iris & B. Gerald Cantor Foundation
Since 1978, the Iris & B. Gerald Cantor Foundation has been a force in cultural philanthropy, medical research, and health care.Missing: establishment | Show results with:establishment
[25]
Iris & B. Gerald Cantor Foundation
1995: National Medal of Arts (with B. Gerald Cantor), presented by President and Mrs. Clinton in recognition of outstanding patronage.
[26]
La Belle Vie is on the market for $53 million - Los Angeles Times
Feb 23, 2009 · La Belle Vie, the famous Bel-Air residence, was built for Iris Cantor by her husband, Bernie -- that's B. Gerald Cantor, founder of the global ...
[27]
Residence of MR. and MRS. B. GERALD CANTOR—Beverly Hills ...
Residence of MR. and MRS. B. GERALD CANTOR—Beverly Hills, California. 1958 Volume XVI Issue 1. Residence of MR. and MRS. B. GERALD CANTOR—Beverly Hills, ...Missing: York | Show results with:York
[28]
About the Cantor
Founded when the university opened in 1891, the historic museum was expanded and renamed in 1999 for lead donors Iris and B. Gerald Cantor. The Cantor's ...History · Contact Us · Employment & Internships · Leadership