Hammer, Armand

Oil tycoon noted for close Cold War USSR ties, art collector & philanthropist

Price: $75.00

Description:
(1898-1990) Controversial US business tycoon closely associated with Occidental Petroleum, a company he ran for decades, known also for his art collection, philanthropy, and his close ties to the Soviet Union. He cultivated a wide network of friends and acquaintances and would brag that he was the only man in history friendly with Vladimir Lenin AND Ronald Reagan. Born in New York to Russian-born Jewish immigrants, named after the "Arm and Hammer" symbol of the Socialist Labor Party of America (SLP), in which his father Julius one time had a leadership role. After the Russian Revolution, part of the SLP under Juliusí leadership became a founding element of the Communist Party USA. According to Hammer, he scored his 1st business triumph in 1919, during Prohibition, manufacturing and selling a ginger extract which legally contained high levels of alcohol - the company had $1 million in sales that year. Hammer had a successful business importing many goods from, and exporting pharmaceuticals to, the new Soviet Union. According to Hammer, on his initial trip, he took $60,000 in medical supplies to aid in a typhus epidemic, and made a deal with Lenin for furs and caviars in exchange for surplus US wheat. Moved to the USSR 1921-30 to oversee his operations, especially his large business manufacturing and exporting pens & pencils. Entered into a diverse array of business, art, cultural, and humanitarian endeavors, inc. investing in various US oil production efforts on return to the US. His oil investments were later parlayed into control of Occidental Petroleum which he ran 1957-90. He continued personal and business dealings with the USSR despite Cold War taboos. In later years he lobbied and traveled extensively working for peace between the US and Communist countries, including ferrying physicians and supplies into the USSR to help Chernobyl survivors. A staunch supporter of the Republican Party, he contributed $54,000 to Richard Nixon's 1968 presidential campaign and was convicted on charges that one of these donations was illegal. He was later pardoned by President George H. W. Bush. An avid collector of Impressionist and Post-Impressionist paintings, his personal donation forms the core of the permanent collection of the UCLA Hammer Museum in Los Angeles. He supported causes related to education, medicine, and the arts. SP, 10 x 8 b&w near full-length glossy portrait in jacket & tie standing in front of a table

Condition: Very good
Type:Photograph






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