Financier Saul Steinberg Dies at 73

Friday, 7 Dec 2012 | 4:50 PM ET
Financier Saul Steinberg Dies at Age 73
CNBC's Bill Griffeth reports sad news for the business world and the CNBC family. Saul Steinberg, father-in-law of CNBC's Maria Bartiromo, has died at the age of seventy-three. He is best known for a string of takeovers in the 1980s and was an avid art collector. He leaves behind a wife and six children.

Financier Saul Steinberg passed away Friday. He was 73.

Steinberg was best known for a string of audacious takeover bids, including a successful one in 1968 for Reliance Insurance Company. Reliance was 10 times larger than the computer leasing company he had founded seven years earlier at the age of 22 and then taken public.

Also famous were his unsuccessful attempts to take over Chemical Bank in 1969 and Walt Disney Productions in 1984.

Steinberg was an avid art collector and major benefactor of the University of Pennsylvania's Wharton School of Business. He is survived by a wife and six children.

Steinberg's son Jonathan is married to CNBC's Maria Bartiromo.

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