Armand Hammer

Armand Hammer 82

Armand Hammer (May 21, 1898 – December 10, 1990) was an American business magnate and philanthropist. He is best known for his long-time leadership of the Occidental Petroleum Corporation, a major American oil company. Hammer was also known for his art collection and his close ties to the Soviet Union.

Early Life and Education

Armand Hammer was born in New York City to Julius Hammer, a physician and founder of the United States Communist Party, and Rose (Lipshitz) Hammer. He attended Columbia University, where he earned a degree in medicine in 1921.

Career

Early Ventures

Hammer's first business venture was in the pharmaceutical industry, where he marketed a ginger extract that was purported to cure a variety of ailments. He later expanded into other areas, including the import and export of goods between the United States and the Soviet Union.

Occidental Petroleum

In 1957, Hammer took control of Occidental Petroleum, a struggling oil company. Under his leadership, the company grew into one of the largest oil companies in the world. Hammer was known for his aggressive business tactics and his ability to negotiate deals with foreign governments, including the Soviet Union and Libya.

Art Collection

Hammer was an avid art collector, amassing a significant collection of works by artists such as Vincent van Gogh, Claude Monet, and Pablo Picasso. His collection is now housed in the Hammer Museum in Los Angeles, which he founded in 1990.

Philanthropy

Hammer was a noted philanthropist, donating millions of dollars to various causes, including medical research, education, and the arts. He established the Armand Hammer Foundation to support these efforts.

Personal Life

Hammer was married three times and had one son, Julian Armand Hammer. He was known for his lavish lifestyle and his connections to political figures around the world.

Death

Armand Hammer died on December 10, 1990, in Los Angeles, California, at the age of 92. He was buried in Westwood Village Memorial Park Cemetery.

Legacy

Hammer's legacy is a complex one, marked by his significant contributions to the business world and philanthropy, as well as controversies surrounding his business practices and political connections.

See Also

• Occidental Petroleum
• Hammer Museum
• Soviet Union
• Philanthropy