Jerry Wolman ______

A Little Luck, A Lot of Love

Shifting nervously, Jerry Wolman’s elbow have to work hard to obtain this luck. You have to slid sideways a few inches across the loan officer’s be in the right places at the right time and take desk. A single penny had been in its path and was advantage of the opportunities that come up.” sent tumbling to the floor in the process, rolling When he started in the construction under the desk and out of sight. Engrossed in his industry, Jerry had no worth statement, no work, the loan officer paid little heed to the lost background, and no experience. He was just a change and instead focused his attention on the humble, self-taught painter from Shenandoah, request at hand—an appeal for five thousand trying to make his way in dollars he would have to deny based on the bank’s Washington, D.C. Nowadays, when people hear requirements and policies. Jerry, however, knelt the name Jerry Wolman, it’s hard to guess what down to his knees and reached under the desk to accomplishment will come to mind first. retrieve the coin. He returned it to its rightful Will it be his dramatic transformation from place on the desk and sat back in his the boy who couldn’t afford tickets to chair to await his fate. see games into the Popular culture mandates man who purchased the team? Will it that picking up a penny brings good be the fact that he was the founding luck, but rarely does this fortune owner of the come so obviously and quickly after professional hockey team, the owner the act is performed. Looking up of the Connie Mack Stadium, from his work in time to notice the developer of the arena, and subtle deed, the officer froze for a a pivotal player in building the moment, considered, and then Philadelphia Veterans Stadium? Will extended his hand in a congratulatory it be his incredible contribution to gesture. ’s skyline through the “Jerry, anyone that’s going to development and ownership of the worry about my penny is going to John Hancock Center, or his incredible worry about my five thousand dollars. The loan is contribution to D.C.’s urban development through yours,” he said. his ownership of the National Theatre and the Knowing the officer was sticking his neck Federal Building? Over his lifetime, Jerry out in a generous act of good faith, Jerry couldn’t developed more than two and a half million believe the news. Having recently struck out on square feet of office and retail space and eight his own to pursue a career in real estate, the loan hundred apartment units in Chicago, thirty would allow him to purchase the piece of property thousand apartment units in the D.C. metro area, he had in mind for his first project. Securing the and over five million square feet of office space in loan was the first step in what proved to be a D.C. as well. Or perhaps one will instead recall the lengthy and taxing process of obtaining proper decrescendo of his wealth as his financial empire, financing, permits, subcontractors, and architects, valued at $100 million, swiftly evaporated after a but the incident with the loan officer demonstrated faulty construction deal. Regardless of what one the compelling combination of luck and kindness thinks of first, the impact of Jerry’s lifetime cannot that would ultimately lead Jerry to overwhelming truly be grasped unless one starts with the very success. “The harder I worked, the luckier I got,” first chapter. he says now, looking back on his incredible Jerry’s incredible story begins in a small journey and lending true weight to the penny’s coal-mining town in 1927, where he was born to a symbolism. “You need luck, of course, but you family of modest material means but tremendous

Jerry Wolman love and integrity. Though many would argue follow the calling of his exceptionally large heart. that the odds were against him from day one, he America had recently entered the Second World insists that it was quite the opposite, as his small- War, and a patriotic spirit had permeated its cities town upbringing bred a work ethic that is rarely and countryside. Jerry finally convinced his friend produced by other settings. As one of nine Johnny to run away with him to join the navy—a children, his father put him to work at age five at feat his parents would have forbidden otherwise. the wholesale produce company he owned, and Jerry flunked his physical but then attended officer Jerry recalls a strong urge to earn money to training school for the Merchant Marines and was contribute to his family’s wellbeing. Edward deployed thirty days later, laying eyes on a ship Bennett Williams, attorney to the President of the for the first time in his life. He served with the Washington Redskins, would sum up his Merchant Marines for about two years shuttling sentiment perfectly in a conversation many years troops over to France, holding true to his sense of later when he said, “Jerry, they’ll never beat guys duty until the war’s end. like you and me. We’ll always come back for one It was shortly thereafter that Jerry reason: we have the luxury of coming from returned to Shenandoah. A lifelong flirt and poverty.” charmer, he and his brother Bernard would Days were busy for the young boy, who sometimes travel to a nearby town in search of would put in hours of work at the warehouse dates—pretty girls with high cheekbones like Gene before and after school. At age twelve, Jerry Tierney, among the most beautiful actresses of the would purchase crates of oranges from his father time. One day, the brothers traveled to Wilkes- and then sell them from a wagon he pulled from Barre and accidentally stumbled into a wedding house to house, earning enough money to buy reception at the town’s Jewish Community Center sodas, ice cream, and movie tickets after giving a when Jerry’s eyes landed on a girl standing across portion of his earnings to his mother. After an the room—a girl with high cheekbones and a extremely brief stint plucking chickens at a butcher certain way about her. “Bernie, do you see that shop in which he got through only one bird, he girl?” he said to his brother. “I’m going to marry drove a truck for his father starting at age fourteen. her.” A year later, he did. Amidst the demands of his employment, Jerry still Jerry and Anne Wolman had much in found time to hitchhike with his best friend Johnny common. They held the same values, both wanted Robel, traveling the hundred miles separating him children, and both shared a marvelous trust in the from his favorite sports team, the Philadelphia world that came in handy when Jerry realized he Eagles. With his face pressed eagerly up to the couldn’t make a living in Wilkes-Barre, even after bars of the stadium gate, he befriended a guard he opened a small fruit stand. After drawing a who would often let him in at half time to watch blank as to where to relocate, Jerry was suddenly the rest of the game. “Football was the only game struck with an inspired idea. “Anne, we’ve got a that was really in our blood,” he says now. ’38 Chevy and not much else,” he said. “Why Though he couldn’t play himself because his don’t we pack the car and pick up a hitchhiker, family depended on him to work, his passion and and wherever he’s going, that’s where we’ll stay?” enthusiasm for the game remained strong and The young couple kissed, packed the car, bid pervasive. farewell to their families, and set out to Mountain Despite the manual labor of his jobs thus Top, Pennsylvania, where they picked up a far, Jerry gave considerable thought to his future hitchhiker bound for school in Washington, D.C. and had decided by his senior year of high school “You’ve got a ride,” they told him, and they had that he hoped to become an attorney or a rabbi. their destination. His dreaming came to an abrupt halt, however, “We must have had a dollar or less,” says when his father had a stroke that left him Jerry, recalling their arrival in the city. “We went incapacitated. Jerry had to drop out of high school to a Hot Shoppe, split a hot fudge sundae, and to work and support his family, leaving behind his bought a newspaper to look for a room.” They beloved teachers and studies. followed an advertisement to Fifth Street, where a Thankfully, his father eventually woman by the name of Mrs. O’Hara had a room recovered enough to return to work, and at available for ten dollars. They told her they’d like seventeen years of age, Jerry was again free to to take it and intended to go downtown the next

Profiles in Success: Inspiration from Executive Leaders in the Washington D.C. Area day to get jobs, asking if they could pay her once making money, take care of the people you’re they received their first paycheck. “That’s fine,” working with. You can’t get anywhere without said the kindly woman, who promptly called the these people, and beyond this, there’s nothing grocery store across the street and requested thirty better than sharing the wealth,” he confirms. He is dollars’ worth of credit for the young couple that known for always gifting interest in his projects to she would guarantee. Exhibiting much the same the people who helped him achieve success, never faith and benevolence that the loan officer would once maintaining complete ownership. convey several years later, Jerry’s ability to inspire Despite the myriad of ups and downs that trust and kinship in his fellow human beings was color his life’s canvas, Jerry’s main regret stems uncanny even from the beginning. back to the foundation of it all—the fact that he The next day, Anne got a job at Prudential was unable to finish high school. “There’s nothing Life Insurance Company and Jerry at Colonial more important than an education,” he Wallpaper and Paint Company, swiftly picking up emphasizes now. “Had I been able to finish high the art of trimming wallpaper and mixing colors. school and attend college, I probably would have He was swiftly promoted to store manager, raising been able to avoid some of the pitfalls I endured.” profits steeply by revolutionizing the company’s Beyond these articulated teachings, Jerry is manner of bookkeeping and customer service. As even more so a lesson in his simple existence. He he waited patiently for the bonus the company’s is, above all else, an expert in what it means to owner had promised him, Jerry would sell paint to truly be human—in the compassion, kindness, a nearby construction site and couldn’t help but generosity, and love that makes life worth living. observe with transfixed fascination as they poured He brings the best out in people, compelling each concrete, raised walls, and threaded electrical one of us to care greater, laugh louder, and love wiring. “I was turned on by the whole process,” deeper, inspiring a sincerity that many of us didn’t he reminisces. “You’re doing something only men even know we had. and God could do: constructing buildings and Furthermore, he is a connoisseur at the seeing people move into them.” practice of both exhibiting and receiving Shortly thereafter, Jerry submitted his generosity. Mrs. O’Hara, the kindly landlady who resignation after two years at the company to go helped him in good faith at the outset of his into business for himself. He worked as a painter journey, received flowers on Mother’s Day until to support his young family as he began to learn her death. Reporters who used to criticize and the ins and outs of the development world, and it doubt him have since been transformed into wasn’t long before he had earned a name for friends through his good humor and patience. His himself as the Boy Wonder of real estate, leaving expansive list of charity work has been done an incredibly large and permanent footprint on the largely anonymously, and his generosity toward histories of development and sports alike. friends and strangers alike has been unparalleled While Jerry’s monetary fortune pursued a and unquestioning. rollercoaster course from rags to riches and back to “My real joy in life, however, is being with rags again, his incredible fortune of love and my family,” he confirms. “They’re the impetus for perseverance remained constant throughout it all. all that I’ve done and all that I will do.” Jerry’s His two children, Helene and Alan, and nine affection for his family extends even to the more grandchildren are his best friends, and after universal family of human kind, a web of which Anne’s untimely death, he remarried a lovely we’re all apart. “I don’t think people realize how woman named Bobbie, adding another best friend much I love people,” he says, his statement forming to the mix. Now, at the age of eighty-three, Jerry an umbrella over all of humanity. He speaks badly can often be found texting or Facebook messaging of nobody and behaves in a parallel manner. with his grandchildren, his inbox routinely “Treat people the way you’d like to be treated,” he populated with little “I love you” reminders. says, echoing the old adage with a fervency and A life as rich as Jerry’s undoubtedly conviction that infuses new life into the words. presents a treasure trove of lessons, and he doesn’t “Never believe you’re better than anybody else hesitate to teach just as freely as he loves. “The and always be humble,” he adds. And above all, best lesson I learned in the development business Jerry stresses, “Always follow your dreams.” is that time is money,” Jerry says. “Also, if you’re So after hearing a more complete version

Jerry Wolman of the story, what comes to mind when one hears  By Gordon J. Bernhardt, CPA, PFS, CFP®, AIF® the name Jerry Wolman? Perhaps we are reminded of our own families and the importance About Gordon J. Bernhardt of showing our gratitude for them each and every President and founder of Bernhardt Wealth day. Perhaps it is the strangers we meet along the Management and author of Profiles in Success: path of life and the importance of demonstrating Inspiration from Executive Leaders in the kindness and generosity regardless of wealth or Washington D.C. Area, Gordon provides financial stature. Or perhaps it is simply a more complete, planning and wealth management services to affluent encompassing, enduring idea of love—one that is individuals, families and business-owners throughout kind even to its adversaries, giving even if it has the Washington, DC area. Since establishing his firm in nothing, and brimming with hope, integrity, 1994, he and his team have been focused on providing humility, and staying power. If one ever needed high-quality service and independent financial advice to proof that such ideals can translate into reality, help clients make informed decisions about their money. there’s Jerry. For more information, visit www.BernhardtWealth.com and Gordon’s Blog. © September 2010 Gordon J. Bernhardt. All rights reserved. Reprinted by permission.

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Profiles in Success: Inspiration from Executive Leaders in the Washington D.C. Area