Early Life and Career
Tisch was born March 5, 1923 in Brooklyn, New York, the son of Russian Jewish immigrants, Sadye and Al Tisch. His father, a former All-American basketball player at the City University of New York, owned a garment factory as well as two summer camps which his wife helped him run. He graduated from New York University when he was just 18 and received a Wharton MBA in industrial management by 20. In 1946, he made his first investment, purchasing a 300-room winter resort in Lakewood, New Jersey with $125,000 in seed money (roughly equivalent to $1.5 million at 2012 prices) from his parents. Two years later, his brother Bob joined him in the business, launching a lifelong partnership between the pair with Larry handling financial matters and Bob the overall management.
Their first hotel was very successful and over the next decade, the Tisch brothers bought a dozen hotels in Atlantic City and the Catskills.
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