Early Life
William Robert Berkley was born in 1946 in North Jersey. At the age of 11, Berkley's father passed away in an airplane crash, and he began investing in the stock market at age 12. Berkley graduated from New York University Stern School of Business in 1966 and earned an MBA from Harvard Business School in 1968.
Rise to Success
Berkley founded W. R. Berkley Corporation in 1967 with an initial investment of $2,500. The company went public in November 1973, with Berkley owning a substantial portion of the company's shares. He served as CEO until 2015, when he transitioned to Executive Chairman, with his son, Rob Berkley Jr., taking over as CEO. W. R. Berkley Corporation has grown into one of the largest commercial lines property and casualty insurers in the United States, with operations in over 60 countries.
Key Business Strategies
The success of W. R. Berkley Corporation is attributed to specialized knowledge, expertise, and risk management. The company operates in a niche market that requires in-depth knowledge of an industry, product, or territory. The company has shown consistent revenue growth, driven by increases in net premiums written and investment income. The company maintains strong profitability, reflected in its combined ratio.
Philanthropy
Berkley has a long-standing commitment to philanthropy, primarily focusing on education, healthcare, and environmental causes. He and his wife, Marjorie, have donated over $50 million to the Leonard N. Stern School of Business at New York University. In 2006, he gave $5 million to Georgetown University to start the Berkley Center for Religion, Peace, and World Affairs. In 2025, the Berkley family committed a $25 million gift to Georgetown University to rename the nursing school the Georgetown University Berkley School of Nursing.
