An Open Letter to University Presidents
4 min read
Dr. Yosef Walder had a major impact on me and on thousands of others.
Last week, we lost a giant of a man.
Dr. Yosef Walder, an entrepreneur, philanthropist, and a winner of a man, sadly passed away after battling illness for many years.
Dr. Walder started his career as a professor of biochemistry at the University of Iowa College of Medicine before starting his own company, (IDT), out of a synagogue office.
That company grew and grew, and was eventually bought out by Private Equity for $1.8 billion in 2018.
I knew Dr. Walder, and he had a major impact on me and on thousands of others. Here are five personal lessons I’ve learned from this giant.
Dr. Walder was one of the most unassuming men you’d ever encounter. If I were to show you a lineup of men, you’d never be able to identify the multi-millionaire. He didn’t show off. He didn’t boast. In fact, he lived in quite a modest house considering his means, and drove his famous ole’ Buick for many years.
Lesson: Wealth doesn’t mean acquiring material possessions. Dr. Walder was happy with what he had
The multi-millionaire's Buick
Dr. Walder did more for the Chicago Jewish Community than possibly anyone. He and his wife built up tens of schools, and provided funds for many of them to have tuition. He built programs that educated young children about the sciences.
As one Rabbi said, “Dr. Walder is the only one who’d come to me and push me to have him help out more. He’d ask ‘what else could I help with?’”
See The Walder Foundation, a fund founded by the Walders, giving back to many different organizations.
Lesson: Whether it’s material or with your time, give back to others. You’ll be remembered for that, not your BMW 6 Series.
The above kindness is quite uncommon, but still, it happens. What Dr. Walder and wife do is go above and beyond. I remember how Dr. Walder always had Kalman, a special needs individual, by his side. He’d eat by his house every Shabbat, he’d walk to synagogue with him.
Additionally, the Walders took in some children during a tough period in these children’s lives. When a mother died in a car accident, the Walders took in Eliyahu and his sister and funded their lives. Sadly, after getting married and becoming a father Eliyahu contracted bacterial meningitis and died young, and the Walders dedicated two schools to their adopted son’s memory.
There’s giving money and then there’s giving their whole being to helping others. I don’t exaggerate when I say that Dr. Walder gave his heart and soul to helping others. He used to say that part of what is so amazing about his company was that he was able to give people jobs.
Lesson: Be recklessly kind. You'll never, ever regret it. I promise you
The Walders with Eliyahu
Dr. Walder never made it about himself. There aren’t any magazine profiles of this wealthy man, nor are there any news of extravagant purchases after their company was sold. When I asked a Rabbi today about Dr. Walder’s generosity and if there was more info online on his history, the Rabbi responded, “I don't know of anything like that. I worked closely with him for the [school] dinner and it was never about him, to him it was all about the success of the school.”
Lesson: Focus on helping others and being a vessel.
Thankfully, Forbes never found out about this holy man. He wouldn't have liked the attention.
Dr. Walder’s company, IDT, had a kit that was the first approved test for Covid by the CDC in February of 2020. Read this WSJ article if you don’t believe me.
Dr. Walder worked tirelessly for over 30 years to build up an incredible company.
They’re also a leader in the area of CRISPR, the genetic engineering technique that allows scientists to modify the DNA of living organisms.
To say that Dr. Walder was at the cutting edge is quite an understatement.
IDT was ahead of the curve.
Let’s take away some valuable lessons from Dr. Walder. Be kind, be thoughtful to the needs of others, don’t make it about you, and yes, work hard.
Dr. Walder also helped to fund the Chabad in Iowa City for several years. His generosity made it possible for a small group of us to have a Chabad Rabbi in residence and to for the Rabbi and his family to start Iowa City's Chabad House. For over 20 years now, Chabad has been serving the community and the students at the University of Iowa.
BDE. May his memory always be a blessing
It is a blessing to read about this man.
A true mensch
One of the best tributes to a good person's life is that he/she never sought the limelight; a real sense of gratification comes from being able to help others.
May his memory be a blessing.