Eli Ostreicher, a self-taught serial entrepreneur from the Hasidic community in London who spent a lot of time in the Borough Park neighborhood, died at 39 in a motorcycle accident in Thailand.
Ostreicher, the owner of five distinct businesses when his Borough Park-based Regal Wings took the top spot on Inc., was previously covered by VIN News.
Magazine’s 500 List in the 2013 category for travel and hospitality. Ostreicher developed several travel-related businesses, including Regal Wings, a luxury and corporate services travel provider with clients like Walmart, Rolex, the United Nations, and Berkshire Hathaway.
Ostreicher added computer classes to his Hasidic education and used this expertise with his passion for travel, love of geography, and ability to put in long hours to build numerous successful businesses that employed several dozen people domestically and tens more abroad.
In addition to leaving his door open to people requesting donations each day at the close of work, he kept tight relationships with the Hasidic community in both Brooklyn and London.
When he and his business partner were recognized at Bonei Olam’s 2013 dinner, the donation of $500,000 was initially planned to be made covertly.
Rabbi Schlomo Bochner, the founder of Bonei Olam, explains in a YouTube video of the meal how he persuaded Ostreicher to make public his promise, made in cooperation with Regal Wings, to encourage others to make donations as well.
“I decided to contribute $500,000, an amount that I am confident would put a smile on the faces of many couples who are living in anguish,” Rabbi Bochner read aloud from an email from Ostreicher to the crowd.
Details about Ostreicher’s levaya have not yet been determined, and the circumstances of his death are still unknown.
Ostreicher was the nephew of Jacob Ostreicher, who spent 30 months in prison in Bolivia on spurious money laundering allegations.
Actor Sean Penn freed Jacob Ostreicher from prison after lobbying by federal elected officials failed to do so.
According to the Associated Press, more than a dozen government figures, including judges and prosecutors, were finally imprisoned for coercing the Brooklyn businessman.