Armand Hammer Net Worth At Death
Armand Hammer, an American businessman and entrepreneur who was born on May 21st, 1898, is most known for founding and leading Occidental Petroleum from 1957 until his passing. Armand Hammer was born in New York City to Rose and Julius Hammer, two Jewish immigrants from the former Russian Empire. In 1875, his father immigrated to…
Armand Hammer, an American businessman and entrepreneur who was born on May 21st, 1898, is most known for founding and leading Occidental Petroleum from 1957 until his passing.
Armand Hammer was born in New York City to Rose and Julius Hammer, two Jewish immigrants from the former Russian Empire.
In 1875, his father immigrated to the United States from Odesa, now in Ukraine, and settled in the Bronx, where he had five drugstores and a comprehensive medical practice.
He was also well-known for his art collection and his close ties to the Soviet Union, earning the nickname “Lenin’s chosen capitalist” from the press. After graduating from Columbia Medical School, Hammer and his younger brother Victor established a successful business that imported numerous goods from and exported pharmaceuticals to the newly formed Soviet Union.
He set out on his first trip to Soviet Russia as Allied Drug’s envoy there on July 5, 1921, from New York. In February 1921, the blockade of Soviet Russia loosened for the majority of the products.
Armand Hammer Net Worth At Death
At the time of his death, Armand Hammer’s estimated net worth may have reached $800 million. After inflation, that is nearly comparable to $1.6 billion today.
