Aaron Feuerstein

Aaron Mordechai Feuerstein (December 11, 1925 – November 4, 2021) was an American industrialist, philanthropist, and the third-generation owner and CEO of Malden Mills in Lawrence, Massachusetts. Some remember him as "the mensch who saved Christmas" when he publicly declared: "I am not throwing three thousand people out of work, two weeks before their holiday." He attended Boston Latin School and graduated from Yeshiva University in 1947, majoring in English and philosophy.

Career Feuerstein began working for the family company, Malden Mills, after he graduated in 1947. By the 1970s, he began to take charge of the company, leading it during the disastrous fake fur market. On 9/11/1981, the company was filed for bankruptcy and had to lay off workers. Feuerstein used his insurance money to rebuild it, and to pay the salaries of all the now-unemployed workers while it was being rebuilt. Feuerstein spent millions keeping all 3,000 employees on the payroll with full benefits for ninety days. He came to prominence globally by going against common business practices, especially at a time when many companies were downsizing and moving overseas. "By the end of 1996 the plant was rebuilt."

Feuerstein, a devout Orthodox Jew, said that he could not have taken another course of action due to his study of the Talmud and the lessons he learned there:

This cost Feuerstein $25,000,000 and his CEO position as his family lost control of the company. In January 2007, however, Malden Mills filed for bankruptcy again and ended production in July. The company's underfunded (by 49%) pension was abandoned due to sale of corporate assets.

Personal life Feuerstein was an alumnus of Camp Modin in Belgrade, Maine, and the keynote speaker at the 75th annual reunion in 1997. Feuerstein was also a member of Young Israel of Brookline.

Feuerstein died of pneumonia on November 4, 2021, in a Boston hospital at the age of 95.

Family Feuerstein married twice; both wives predeceased him. His surviving descendants include 3 children and six grandchildren. Two years prior, he was cited by then President Bill Clinton during his 1996 State of the Union Address, lauding him for his handling of the Malden Mills disaster.