Eli M. Black

Eli Menashe Black (April 9, 1921–February 3, 1975) was an American businessman who controlled the United Brands Company, now known as Chiquita. His son Leon Black co-founded the private equity firm Apollo Global Management.

Early life and education Born Elihu Menashe Blachowicz as the youngest of three children to Chaje Schulson and Benzion “Benjamin” Blachowicz in Lublin, Poland, he immigrated to the United States along with his mother and sisters via the boat SS Republic on February 19, 1925, to join their father in New York City. The Yiddish-speaking family lived in Lower East Side, where his father worked as a shohet. He attended Yeshiva University, and graduated at the top of his class in 1940.

Business career Black's business career began in investment banking with Lehman Brothers, and then the American Securities Corporation, where he worked on financing for the American Seal-Kap Company, a company that made caps for milk bottles. He was hired to be their chairman and chief executive officer in 1954. Black renamed the company AMK, after its ticker symbol, and turned it into a vehicle for acquisitions, joining the conglomerate bandwagon of the 1960s. Among his many takeovers was the John Morrell & Co. meatpacking company. AMK joined the nation's top 500 companies in 1967. In September 1968, Black bought 10% of the outstanding shares of United Fruit on the open market, while outbidding other companies, and gained a controlling interest. A few weeks later the Securities and Exchange Commission uncovered a $1.25 million bribe that United Brands paid to Honduran president Oswaldo López Arellano under authorization by Black in order to obtain a reduction of taxes on banana exports.

After Black's death, Seymour Milstein and Paul Milstein bought into United Fruit.

Personal life Black was married to artist Shirley Lubell (sister of Oklahoma oil executive Benedict I. Lubell and art dealer Grace Borgenicht Brandt). They had two children: daughter Judy Schlosberg and son Leon Black,

Cultural references The 1994 film The Hudsucker Proxy included a scene resembling Black's suicide.