Bruce Sherman, Chairman and Principal Owner of the Miami Marlins, to Receive 2024 Horatio Alger Award

News provided by

Horatio Alger Association of Distinguished Americans, Inc.

Feb 06, 2024, 14:06 ET

The Horatio Alger Association names 11 outstanding individuals, each of whom has overcome adversity to
achieve professional and personal success, to its Member Class of 2024

WASHINGTON, Feb. 6, 2024 /PRNewswire/ -- Horatio Alger Association of Distinguished Americans, Inc., a nonprofit educational organization honoring the achievements of outstanding individuals and encouraging youth to pursue their dreams through higher education, today announced that Bruce S. Sherman, chairman and principal owner of the Miami Marlins, has been selected for membership in this prestigious organization. Mr. Sherman joins 10 other exceptional business, civic and cultural leaders from across North America in receiving 2024 honors. For more than 75 years, the Horatio Alger Award has been annually bestowed upon esteemed individuals who have succeeded despite facing adversities, and who have remained committed to higher education and charitable efforts in their communities.

Mr. Sherman was raised in Queens, New York and was brought up in a middle-class family. His father was an engineer, and his mother was a homemaker, and together, they taught Mr. Sherman and his siblings the value of hard work from a young age. A product of the public school system, he walked a mile to school each day. Once he reached high school, he took two different city buses to get there. Although challenging, he knew his education was important. Mr. Sherman received his bachelor's degree in accounting from the University of Rhode Island. Soon after graduation, he got a job as a junior accountant at Arthur Young & Co., which required him to commute two hours each way to Manhattan. At the same time, he was attending night school at Bernard Baruch College to pursue his MBA. To supplement his income and provide for his two young daughters, he taught accounting at Queensborough Community College on the nights he wasn't attending classes.

In 1979, Mr. Sherman became the financial controller at the Collier Family Office, a company that owned a wide variety of businesses in southwest Florida. In 1986, he formed Private Capital Management (PCM) to manage public equities for outside investors. The Collier family was his first client. PCM grew to become the largest independent asset manager in the southeastern United States and one of the largest firms in the country. It was acquired in 2001 by Legg Mason at a record price based on their assets under management. Following the sale, Mr. Sherman retained autonomy over PCM's portfolio management and investment research and led the company to a prestigious #1 ranking in the country as measured by Nelson's "World's Best Money Managers" for ten years. Mr. Sherman retired in 2009 and formed his own family office to manage his assets. In 2017, he became the chairman and principal owner of the Miami Marlins, a Major League Baseball team.

"Bruce Sherman is the definition of self-made," said Terrence J. Giroux, executive director, Horatio Alger Association. "He worked long hours for many years, with the simple goal of providing financial security to his family. His hard work earned him immense success, culminating in his acquisition of the Miami Marlins in 2017. His commitment to philanthropy is equally as admirable, and I'm certain his story will serve as an inspiration to our Scholars."

Mr. Sherman and his wife, Cynthia, believe deeply in giving back to their community. They are highly involved in the Marlins outreach initiatives and Foundation programming, as well as many philanthropic organizations in South Florida. They have been Trustees of the Naples Children & Education Foundation for more than 20 years, which supports underprivileged and at-risk children in Collier County. They are also the founders of the Bruce and Cynthia Sherman Charitable Foundation, which supports a variety of medical institutions and health initiatives and administers the Sherman Prize, which recognizes and rewards individuals who go above and beyond to make exceptional contributions to the fight to overcome Crohn's disease and ulcerative colitis. The Foundation also endows the Bruce and Cynthia Sherman Professorship in Urological Research and Innovation at New York University's School of Medicine. In 2021, the Foundation partnered with the Bascom Palmer Eye Institute at the University of Miami Miller School of Medicine to establish the Palm Beach Vision Health Initiative, a vision screening program for pediatric underserved communities.

"I consider it an immense privilege to give back," said Mr. Sherman. "To join an Association with such an esteemed membership and important mission is a great honor. I've long been committed to supporting young people in need and am looking forward to meeting the wonderful Horatio Alger Scholars and rooting them on as they chase their dreams."

2024 marks the 40^th year that the Association has awarded annual need-based scholarships to high school students who have displayed dedication to pursuing higher education despite significant obstacles throughout their lives. The Association, which aims to preserve and protect the American Dream for future generations, also seeks to educate young people about the endless opportunities available by the free-enterprise system through commitment, honesty, and diligence. The scholarships are made possible thanks to the generosity of Horatio Alger Members, who will have collectively provided more than $245 million to over 35,000 students.

"It is our utmost honor to present the Horatio Alger Award to these 11 outstanding leaders who have exemplified perseverance, passion and a deep appreciation for higher education," said James F. Dicke II, chairman, Horatio Alger Association and 2015 Horatio Alger Award recipient. "These influential leaders not only spearhead their own businesses, but they give generously to causes, organizations and communities in need. Our 2024 awardees embody the Association's mission and are proof that the American Dream is within reach for anyone who seeks it."

Mr. Sherman and the Member Class of 2024 will be formally inducted into the Association on April 4-6, 2024, during the Association's annual Horatio Alger Award Induction Ceremonies in Washington, D.C. The three-day event is an annual ceremony to honor both the achievements of Members and National Scholars, who will have multiple opportunities to meet, interact and exchange stories of perseverance.

For more information about Horatio Alger Association and its Member Class of 2024, please visit www.horatioalger.org and follow the organization on Facebook, X, LinkedIn and Instagram.

About Horatio Alger Association of Distinguished Americans:
Founded in 1947, the Horatio Alger Association of Distinguished Americans, Inc. is dedicated to the simple but powerful belief that hard work, honesty and determination can conquer all obstacles. The Association honors the achievements of outstanding leaders who have accomplished remarkable successes in spite of adversity by bestowing upon them the Horatio Alger Award and inducting them as lifetime Members. Horatio Alger Members support promising young people with the resources and confidence needed to overcome adversity in pursuit of their dreams through higher education. Through the generosity of its Members and friends, in 2023, the Association awarded more than $18 million in undergraduate and graduate need-based scholarships to 1,800 students across the United States and Canada, and provided college support and mentoring services to its Scholars. Over the past 40 years, more than $245 million has been awarded in undergraduate, graduate, military veteran and career and technical education scholarships to more than 35,000 deserving students. For more information, please visit www.horatioalger.org.

CONTACT:
Carly Colombo
[email protected]

SOURCE Horatio Alger Association of Distinguished Americans, Inc.