Jack Dreyfus

John J. Dreyfus Jr. (August 28, 1913 – March 27, 2009) was an American financial expert and the founder of the Dreyfus Funds.

Jack Dreyfus
BornAugust 28, 1913
Montgomery, Alabama
DiedMarch 27, 2009(2009-03-27) (aged 95)
Manhattan, New York
EducationLehigh University
Occupation(s)Stockbroker, Thoroughbred owner & breeder
Known forMutual fund pioneer [1]
Board member ofDreyfus Corporation, NYRA
SpouseJoan Personette
ChildrenJohn
ParentIda Lewis & Jonas Dreyfus
AwardsEclipse Award of Merit (1976)

Born in Montgomery, Alabama, Dreyfus was a graduate of Lehigh University in Pennsylvania.[2] He is widely publicized for being the man who "invented" the commonplace mutual fund through direct marketing to the public.[3]

His early television commercials featuring a lion emerging from the Wall Street subway station were successful.[4] According to Barron's Magazine end of Century issue, Jack Dreyfus was considered the 2nd most significant money manager of the last century.

Dreyfus married in 1939 Joan Personette, from whom he was divorced; they had one child, John (Jonny).

His paternal grandfather was a first cousin of Alfred Dreyfus, the protagonist of the French 19th-century anti-Semitic scandal known as the Dreyfus affair.

Jack Dreyfus was also a renowned championship bridge player.

In addition to this, Dreyfus also became something of a public activist and proponent for the use of Phenytoin, an anticonvulsant, for the treatment of several mental health disorders; Dreyfus was not a doctor but claimed that the drug, which was prescribed to him in 1966, had alleviated his depression and chronic anxiety; after this, Dreyfus became a very vocal proponent for the research and clinical use of Phenytoin in these and other mental health diseases. Dreyfus would author a book titled A Remarkable Medicine Has Been Overlooked[5] which he published and distributed with his own money (spending up to US$70 million) and had the book sent for free to hundreds of doctors.[6]

In his role as a Phenytoin proponent, Dreyfus is known to have recommended the drug to Richard Nixon and it has also been said that on at least two occasions Dreyfus provided thousands of Phenytoin pills to him during his presidency to be used as a sedative and antidepressant after Dreyfus profusely praised the drug while he dined in Bebe Rebozo's compound[6] with Nixon who, intrigued, supposedly asked Dreyfus for the drug, who complied.[7] This is a claim that was most prominently raised by Irish journalist Anthony Summers who published an unauthorized biography of Nixon titled Arrogance of Power: The Secret World of Richard Nixon in 2001 in which he raised these allegations;[8] however, the claims that Dreyfus provided Nixon with Phenytoin who consumed them while in office have been fiercely disputed by historians and former colleagues of Nixon.[9][10]

Jack Dreyfus wrote and published his autobiography titled The Two Lives of Jack Dreyfus--The Lion of Wall Street published for the first time in 1995.[2] He was a proponent of Phenytoin all his life and he also had his autobiography bound together with his previous work, A Remarkable Medicine Has Been Overlooked.[5] This single volume containing both works, he distributed for free.[11]

John "Jack" Dreyfus died on March 27, 2009.[12]

Hobeau Farm

Dreyfus established the noted Hobeau Farm in Ocala, Florida, in the early 1960s where he bred, trained and raced Thoroughbred racehorses. The 2,200-acre (8.9 km2) property was the center of his racing operation. In 1962, Dreyfus hired Hall of Fame thoroughbred trainer Allen Jerkens as head trainer.[13] He sold the property (reduced to 1,830 acres) in February 2005 for $12,750,000 [14]

Jack Dreyfus served as Chairman of the New York Racing Association.[15] He was voted the 1976 Eclipse Award of Merit, Thoroughbred racing's highest honor presented to an individual or entity displaying outstanding lifetime achievement in, and service to, the Thoroughbred industry.

Among his noted horses and victories were Beau Purple, which defeated Kelso in the Man o' War Stakes at Belmont Park in October 1962; Onion which defeated Secretariat in the Whitney Stakes in August 1973; Prove Out which defeated Secretariat in the Woodward Stakes in September 1973; Handsome Boy which defeated Buckpasser in the Brooklyn Handicap in July 1967; Blessing Angelica (mare) which won the Delaware Handicap in 1971 and 1972.[16]

Hobeau Farm would continue to see success until Dreyfus' passing and onwards.[17]

References
  1. Berlau, John (7 April 2009). Lassman, Kent; Burk, Travis (eds.). "The Late Jack Dreyfus Really Roared". Competitive Enterprise Institute. Washington, D.C., United States of America: Competitive Enterprise Institute, Inc. Retrieved 7 August 2021.
  2. Dreyfus, Jack (1996) [1995]. The Lion of Wall Street: The Two Lives of Jack Dreyfus (2nd ed.). Washington, D.C., United States of America: Regnery Publishing. LCCN 95037523. OCLC 1036663089 – via Internet Archive.
  3. Smith, Marshall (1964). "Jack Dreyfus: Maverick wizard behind Wall Street lion". Life Magazine. Vol. 28. New York City, New York, United States of America. ISSN 0024-3019.
  4. Miller, Stephen (28 March 2009). "'Lion' Made a Name on Wall Street". The Wall Street Journal. New York City, New York, United States of America. ISSN 0099-9660. OCLC 781541372. Archived from the original on 25 April 2015. Retrieved 7 August 2021.
  5. Dreyfus, Jack (2001) [1981]. A Remarkable Medicine Has Been Overlooked (4th ed.). New York City, New York, United States of America: Lantern Books. ISBN 9781930051140 – via Google Books.
  6. Meier, Barry (24 October 2000). "Shangri-La In a Bottle?; A Wall Street Lion's Campaign to Promote A 'Miracle Drug'". National news. The New York Times. Vol. CXLIX, no. 213. p. C1. ISSN 0362-4331. OCLC 1645522. Archived from the original on 31 March 2009. Retrieved 7 August 2021.
  7. Summers, Anthony; Swan, Robbyn (2 September 2000). "Drunk in charge: Extract from The Arrogance Of Power: The Secret World Of Richard Nixon, by Anthony Summers, with Robbyn Swan, published by Gollancz". The Guardian. London, United Kingdom of Great Britain. ISSN 1756-3224. OCLC 60623878. Retrieved 7 August 2021.
  8. Summers, Anthony (2001). The Arrogance of Power: The Secret World of Richard Nixon (1st ed.). New York City, New York, United States of America: Penguin Group. ISBN 9781101199480 – via Google Books.
  9. Campbell, Julia (6 January 2006). "New Nixon Biography Gives Salacious Details". ABC News. New York City, New York, United States of America. Retrieved 7 August 2021.
  10. Stout, David (31 August 2000). "2 Nixon Aides Skeptical About Report That He Took Drug". National news. The New York Times. Vol. CXLIX, no. 175. p. A22. ISSN 0362-4331. OCLC 1645522. Archived from the original on 9 December 2009. Retrieved 7 August 2021.
  11. Dreyfus, Jack (1997) [1981]. A Remarkable Medicine Has Been Overlooked: Including an Autobiography, and the Clinical Section of The Broad Range of Use of Phenytoin (5th ed.). New York City, New York, United States of America: Continuum Publishing Company. ISBN 9780826410696. LCCN 97034597 – via Internet Archive.
  12. Mouawad, Jad (28 March 2009). "Jack Dreyfus, 95, Mutual Fund Pioneer and 'Wonder Drug' Promoter, Is Dead". Obituaries. The New York Times. New York City, New York, United States of America. ISSN 1553-8095. OCLC 1645522. Archived from the original on 1 April 2009. Retrieved 7 August 2021.
  13. Goldstein, Richard (20 March 2015). "Allen Jerkens Dies at 85; His Horses Sprang Upsets". Obituaries. The New York Times. Vol. CLXIV, no. 57. New York City, New York, United States of America. p. A26. ISSN 1553-8095. OCLC 1645522. Archived from the original on 19 March 2015. Retrieved 7 August 2021.
  14. Conley, Ryan (4 February 2005). "Hobeau Farm to remain intact". Ocala Star–Banner. Ocala, Florida, United States of America. ISSN 0163-3201. Retrieved 7 August 2021.
  15. Ross, Lillian (9 April 1971). "Chairman". The New Yorker. Vol. 46, no. 15. New York City, New York, United States of America. p. 33. ISSN 0028-792X. OCLC 320541675. Retrieved 7 August 2021.
  16. Heckerman, David L. (28 August 1999). "A genuine gentleman". The Blood-Horse. Lexington, Kentucky, United States of America. ISSN 0006-4998 – via Private website. All these horses were trained by the great H. Allen Jerkens
  17. Giauque, Bill (7 August 2006). "Hobeau Farm product dominates $250k Saratoga race". Ocala Star–Banner. Ocala, Florida, United States of America. ISSN 0163-3201. Retrieved 7 August 2021.
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