Mr. Austin Marxe
Austin grew up in a family of modest means and attended public schools in the Bronx and Queens. He started as a chemical engineering major at City College, working at a local men’s shop to help pay his way through school. He transferred downtown to the business school, taking classes at night and pursued accounting because it was an opportunity to understand how successful companies worked. When he graduated in 1965, Austin began working at accounting firms including the prestigious Anchin, Block & Anchin. He was on track to become a partner, but his sights were set beyond accounting. Fascinated with the market, Austin began using the money from his wedding presents to invest in obscure companies. Austin soon convinced Prudential Bache to take a chance on him. Success as a broker came quickly and Austin founded Special Situations Funds in 1985. The company grew steadily and, in 1991, Austin found a partner, bought out Prudential Bache’s interest, and named the new endeavor AWM Investment Company. Today, he still serves as the President and Managing Director. The employee-owned investment firm supports small companies that would otherwise not be financeable. In 2007, he made a gift to the Baruch College Fund to purchase new Bloomberg terminals for the trading floor. He has also supported the scholarship fund since 2011, and endowed the Austin Marxe Scholarship for promising incoming freshman in 2015. In 2016, Austin made a $30 million gift to Baruch, the largest ever received by the college. Baruch is deeply honored to rename the Austin W. Marxe School of Public and International Affairs.
Scholarships associated with Mr. Austin Marxe