Joseph Steinberg

Early Life

Joseph Steinberg was born on May 16, 1934, in Passaic, New Jersey. He received a scholarship to Harvard College. He was also recognized as an “Outstanding Young Citizen of Passaic County.” He graduated from Harvard College magna cum laude in 1956. He then attended Harvard Law School.

Rise to Success

Steinberg began his career in 1960. He joined Alan V. Lowenstein as an associate attorney in Newark, NJ. He started working for Jefferies Group in 1978. In 1979, he became the President of Leucadia National Corporation, an investment firm, and served in that role until 2013. During his time at Leucadia, the firm made numerous investments and was often compared to a mini-Berkshire Hathaway. He became Chairman of Jefferies Financial Group after a merger with Leucadia in 2013.

Key Business Strategies

Steinberg’s strategy involved finding undervalued assets, acquiring them, and optimizing their value. He was known for his attention to detail and negotiation skills. He is the largest shareholder of Jefferies, with a stake of approximately 10%.

Philanthropy

Since 2015, Joseph and his wife Diane have donated over $15 million through their charitable trust to museums, colleges, and community centers.