40 Facts About Howard Lutnick

Early Life and Education

Howard Lutnick's journey began with a strong foundation in education and early career choices that set the stage for his future success.

1. Howard Lutnick was born on July 14, 1961. His early years were spent in Jericho, New York, where he grew up with a keen interest in economics and business.

2. He graduated from Haverford College in 1983 with a degree in economics. This academic background provided him with the knowledge and skills necessary to navigate the financial world.

Career at Cantor Fitzgerald

Lutnick's career at Cantor Fitzgerald is marked by rapid advancement and significant leadership roles.

3. Lutnick joined Cantor Fitzgerald in 1983, the same year he graduated from college. His dedication and hard work quickly caught the attention of the firm's founder, Bernard Gerald Cantor.

4. In 1991, Lutnick was appointed President and CEO of Cantor Fitzgerald. This promotion came just eight years after joining the company, showcasing his exceptional leadership abilities.

5. Five years later, he became the Chairman of the company. This role solidified his influence and control over the firm's strategic direction.

Rebuilding After 9/11

The September 11 attacks were a turning point for Lutnick and Cantor Fitzgerald. His leadership during this crisis was crucial.

6. Following the tragic losses suffered on September 11, 2001, Lutnick rebuilt the firm. He dedicated himself to supporting the families of Cantor Fitzgerald employees lost that day.

7. In the days after the attack, Lutnick launched The Cantor Fitzgerald Relief Fund with a personal donation of $1 million. The fund committed $180 million to aid the families of Cantor Fitzgerald employees over five years and provided healthcare coverage for ten years.

8. Lutnick's efforts in rebuilding Cantor Fitzgerald and supporting the families of victims made him a symbol of resilience. His story has been widely covered by top financial publications.

Leadership and Philanthropy

Lutnick's leadership extends beyond Cantor Fitzgerald, encompassing various roles and philanthropic efforts.

9. Lutnick was named The Financial Times’ Person of the Year in 2001 and Ernst & Young’s United States Entrepreneur of the Year in 2010. These awards recognize his significant contributions to the financial industry.

10. Through BGC Group and Cantor Fitzgerald, Lutnick has fostered corporate philanthropy. The firms participate in an annual Charity Day, donating 100% of their revenues to approximately 150 charities around the world. This effort has raised over $159 million to date.

11. Lutnick is also the Chairman and CEO of BGC Group, Inc., a leading global brokerage and financial technology company. He led the merger of BGC Partners and eSpeed in 2008, forming BGC Partners, Inc.

12. Lutnick is the Chairman of Newmark Group, Inc., which operates as Newmark Knight Frank, one of the world’s leading commercial real estate advisory firms. Newmark completed its IPO in 2017 and spun off from BGC in 2018.

Technological Innovations and Investments

Lutnick's foresight in technology and investments has played a crucial role in his success.

13. In 1999, he made the decision to take eSpeed, an electronic trading subsidiary of Cantor Fitzgerald, public. This move helped Cantor Fitzgerald remain afloat after the 9/11 attacks.

14. In 2014, Lutnick became the Chairman of the Board and CEO of CF Finance Acquisition Corp., a special purpose acquisition company (SPAC). He also led the public listing of Rumble through a SPAC deal.

15. Since February 2017, Lutnick has served as Chairman of the Board and CEO of Rodin Global Property Trust, Inc. and Rodin Income Trust, Inc., non-traded real estate investment trusts (REITs). These roles highlight his expertise in real estate investments.

16. Lutnick served as Chairman of the Board of Directors of GFI Group Inc. from February 26, 2015, until the closing of BGC’s merger with GFI in January 2016. This merger was a significant milestone in his career.

Board Memberships and Awards

Lutnick's influence extends to various prestigious boards and awards.

17. Lutnick is a member of several prestigious boards, including the National September 11 Memorial & Museum, the Partnership for New York City, Weill Cornell Medicine, and the Horace Mann School. These roles reflect his commitment to community service.

18. Lutnick received the Department of the Navy’s Distinguished Public Service Award, the highest honor granted to non-military personnel by the Navy. This award recognizes his significant contributions to public service.

Personal Life and Community Service

Beyond his professional achievements, Lutnick is dedicated to his family and community.

19. Howard Lutnick and his wife Allison are proud parents of four children. He has been recognized for his philanthropic efforts and community service.

20. Lutnick served on the Haverford College Board of Managers for 21 years, including as vice-chair and chair. He received the 2016 Lifetime Achievement Award at Haverford College.

21. Lutnick has served on the board of the Zachary and Elizabeth M. Fisher Center for Alzheimer’s Disease Research. His involvement highlights his commitment to supporting medical research.

22. He has also served on the board of the Intrepid Museum Foundation. This role reflects his dedication to preserving history and supporting educational initiatives.

23. Lutnick’s dedication to the victims of 9/11 is evident through his involvement with the National September 11 Memorial & Museum. His efforts have helped ensure that the memories of those lost are honored.

Recent Ventures and Controversies

Lutnick continues to innovate and lead, despite facing controversies.

24. In 2024, Lutnick, through his firm BGC Group, began efforts to launch a futures exchange, the FMX Futures Exchange. The venture attracted investors such as Morgan Stanley, Tower Research Capital, and Wells Fargo.

25. Following the 9/11 attacks, Lutnick faced controversy when he announced that nearly 700 employees who were missing or had died would not receive their paychecks. However, he later provided significant support to the families of the victims.

26. The annual Charity Day, initiated by Lutnick, has been instrumental in raising funds for various charities. The event has become a significant part of BGC Group’s corporate social responsibility efforts.

Financial Success and Media Coverage

Lutnick's financial success and media presence have made him a well-known figure.

27. As of September 2018, Lutnick owned 60% of Cantor Fitzgerald, with a net worth of at least $1.5 billion. His financial success is a testament to his business acumen.

28. Lutnick’s leadership during the crisis following 9/11 was pivotal. He not only rebuilt the firm but also ensured that the families of the victims received substantial support.

29. Lutnick’s story has been widely covered by top financial publications and media outlets. He has been featured in various documentaries and articles, including a History Channel documentary titled “15 Septembers Later.”

30. After the 9/11 attacks, Lutnick made several public appearances, quickly becoming one of the most iconic figures from that day. His interviews, including one with CNN’s Larry King, highlighted his commitment to supporting the victims’ families.

31. In addition to financial support, Lutnick ensured that the families of the victims received healthcare coverage for ten years. This package totaled more than $100,000 for each family.

32. In 2006, Cantor Fitzgerald donated $180 million to the relatives of their employees affected by the 9/11 attack. This significant contribution helped support the victims' families.

Corporate Growth and Technological Adaptation

Lutnick's strategic decisions have driven corporate growth and technological advancements.

33. Lutnick’s efforts in rebuilding Cantor Fitzgerald were instrumental in the firm’s survival. He ensured that the company continued to operate despite significant losses.

34. The electronic trading system developed by eSpeed, which Lutnick took public in 1999, played a crucial role in Cantor Fitzgerald’s survival after the 9/11 attacks. This system required no brokers and was a significant part of the firm’s recovery.

35. Since its separation from Cantor Fitzgerald in 2004, BGC Partners has grown rapidly both organically and through acquisitions. The merger with eSpeed in 2008 further solidified BGC’s position in the financial services industry.

36. In 2011, BGC completed its acquisition of Newmark, investing heavily in the growth of the commercial real estate services business. Newmark completed its IPO in 2017 and spun off from BGC in 2018.

Philanthropic Efforts and Community Service

Lutnick's philanthropic efforts and community service have made a lasting impact.

37. Beyond the Cantor Fitzgerald Relief Fund, Lutnick has been involved in various philanthropic efforts. He has supported causes related to Alzheimer’s disease research and has been a long-time supporter of educational institutions.

38. Lutnick’s commitment to community service is evident through his involvement with organizations like the National September 11 Memorial & Museum and the Partnership for New York City. These roles reflect his dedication to giving back to society.

39. As a graduate of Haverford College, Lutnick has remained committed to his alma mater. He served on the Haverford College Board of Managers for 21 years and received the 2016 Lifetime Achievement Award at Haverford College.

40. Lutnick’s involvement with the Zachary and Elizabeth M. Fisher Center for Alzheimer’s Disease Research highlights his commitment to supporting medical research and finding cures for diseases. His efforts have made a significant impact on the advancement of medical research.

Lutnick's Legacy

Howard Lutnick's journey from a young graduate to a billionaire businessman is nothing short of remarkable. Leading Cantor Fitzgerald and BGC Group, he showcased resilience, especially after the 9/11 attacks. His commitment to supporting victims' families through the Cantor Fitzgerald Relief Fund and ensuring healthcare coverage for ten years highlights his dedication. Lutnick's leadership extended to BGC Group and Newmark Group Inc., driving growth and innovation. His philanthropic efforts, including the annual Charity Day, have raised millions for various causes. Beyond business, Lutnick's involvement with educational institutions and medical research underscores his broader impact. His story, marked by determination and compassion, continues to inspire many. Howard Lutnick's legacy is a testament to the power of leadership, resilience, and giving back to the community.