Herbert Haft

Herbert H. Haft (August 24, 1920 – September 1, 2004) was an American businessman who was famous first for the development of discount stores in the drug store, bookstore, and auto part businesses in Washington, D.C., and later as a corporate raider.

Early life and education Haft was born to a Jewish family in Baltimore, Maryland, the son of an immigrant pharmacist from Russia. and acquired part of Total Beverage and Shoppers Food Warehouse.

Haft's Dart Group earned $250 million through greenmail and stock sales during unsuccessful takeover attempts of retailers Safeway and Stop & Shop. In the 1990s, he was involved in widely publicized conflict with his sons Ronald and Robert Haft, and wife Gloria Haft over control of the Dart Group, a family business.

In a 1986 speech to a group of George Washington University alumni, Haft said that the secret of his success, was to borrow big: "If you owe someone several thousand dollars, you can't always sleep at night. If you owe someone several million dollars, the banker or supplier can't sleep. It's no use both of you worrying."

In 1998, Total Beverage was sold to Total Wine & More and the remainder of Dart Group, except Crown Books, was purchased by Richfood, a grocery distributor for $200 million. Richfood quickly sold Trak Auto to a Tennessee investment group. Crown Books filed for bankruptcy, and limped along on private investment until its closure in 2001.

In 1999, Herbert Haft launched HealthQuick, an online pharmacy, while his son Robert launched Vitamins.com. HealthQuick failed by 2001.

Personal life He was married to Gloria Haft for 45 years before divorcing; they had three children: Robert Haft, Ronald Haft, and Linda Haft. that culminated in his deathbed marriage to Myrna C. Ruben and the exclusion of his children from his will.

Herbert Haft died from heart disease on September 1, 2004, at a Washington D.C. hospital.