Philanthropist Arthur I. Meyer dies at 92
Matthew Kruk
By SHANNON DONNELLY
Daily News Staff Writer
Monday, October 20, 2008
Arthur I. Meyer, a longtime Palm Beach resident and philanthropist active in
arts and culture, died Sunday, Oct. 18. He was 92.
Born April 7, 1916, in Brooklyn, N.Y., he was the son of William and Mildred
(nee Streiber) Meyer.
Mr. Meyer attended New Utrecht High School and New York University, where he
earned a bachelor's degree in accounting. He graduated from NYU's law school
in 1938, and practiced real estate and bankruptcy law until the onset of
World War II.
During the war, he worked for General Electric while studying engineering at
Yale University at night. His engineering skills led to his work on
classified military munitions contracts.
He then joined Englishtown Cutlery in New Jersey, subsequently purchasing
the company. After the war, he converted a 500-year-old samurai sword
factory into what would become the largest cutlery company in Japan.
In 1952, Mr. Meyer sold his cutlery business and founded various finance
companies and venture capital enterprises. He was president and chairman of
Consumer Time Credit Inc., which purchased retail installment paper; was a
general partner in Alben Associates, a venture capital company based in Port
Chester, N.Y.; he was executive vice president of Federated Mortgage Corp.,
a direct mortgage lender publicly traded on NASDAQ; and was executive vice
president of Affiliated Financial Corp., which financed automobile sales for
Volkswagen dealers.
Six years later, he entered the hotel business with two boyhood friends from
Brooklyn, building or leasing Holiday Inns. Later, he merged his Holiday
Inns into Servico Inc., a NASDAQ-traded public company, and became chairman
and chief executive officer. He sold his interest in 1985, by which time the
company had expanded to include 58 hotels.
He served for many years on the advisory board of Chase Manhattan Private
Bank of Florida.
With Sydelle, his wife of 61 years, Mr. Meyer was an active and generous
supporter of charitable causes.
They are benefactors of the Kravis Center for the Performing Arts, the
Norton Museum of Art, Meyer Hall at the Alexander W. Dreyfoos Jr. School of
the Arts, Meyer Amphitheater in West Palm Beach, the Arthur I. Meyer Jewish
Academy, the Jewish Federation of Palm Beach County, the American Jewish
Congress, the Community Foundation for Palm Beach & Martin Counties, the
Alexis de Tocqueville Society of the Town of Palm Beach United Way, St.
Mary's Hospital and the Albert Einstein College of Medicine.
"Arthur Meyer's legacy will leave an indelible impression, not only on the
gifted students of the Dreyfoos School of the Arts who benefited immensely
from his generosity, but on our entire community so obviously cared for by
this gentle humanitarian," said Simon Benson Offit, chairman of the board of
the School of the Arts Foundation. "We are better for having known him and
thankful for his vision and perseverance."
In 1998, Arthur and Sydelle Meyer won the Philanthropy Award from the Palm
Beach Chamber of Commerce.
"Arthur Meyer, working in concert with his wife, Sydelle, set wonderful
examples of involved philanthropy," said Alexander Dreyfoos, whom Mr.
Meyer's son, William, succeeded as chairman of the Kravis Center.
"The Kravis Center, Dreyfoos School and the Community Foundation are a few
organizations where I have personally seen the great impact of their
generosity. Arthur will be missed."
"Arthur Meyer was an outstanding man," said Christina Orr-Cahall, director
of the Norton Museum of Art. "With Sydelle, he had a passion for the arts
and a love for community. We'll miss him."
In addition to his wife, Mr. Meyer is survived by his son, William and
daughter-in-law Denise; his daughter, Gail Asarch and son-in-law Dr. James
Satofsky; his grandchildren Candice Meyer, Andrew Meyer, Melissa Asarch and
Allison Asarch; and his sister, Isabel May.
A graveside service for the family is scheduled for 2 p.m. Wednesday at Star
of David Cemetery in West Palm Beach.
The family will receive friends at Mrs. Meyer's home after the graveside
service until 5 p.m., from 7 to 9 p.m. Wednesday, and from 2 to 5 p.m. and 7
to 9 p.m. Thursday.
A celebration of Mr. Meyer's life is planned for 2 p.m. Dec. 1 at the Kravis
Center's Cohen Pavilion.
Memorial donations can be made to the Arthur I. Meyer Jewish Academy, 3261
N. Military Trail, West Palm Beach, FL 33409, or to the Community Foundation
for Palm Beach & Martin Counties Inc., 700 S. Dixie Highway, No. 200, West
Palm Beach, FL 33401.
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