On September 11, 2001, Cantor Fitzgerald suffered a devastating blow, losing 658 employees in the World Trade Center attacks. Occupying floors 101 to 105 of the North Tower, the company experienced the single largest loss of life for any organization that day. Amid this profound tragedy, Cantor Fitzgerald’s CEO, Howard Lutnick, became a central figure in both the immediate and long-term response to the disaster.
Howard Lutnick’s leadership in the wake of the attacks was marked by a commitment to supporting the families of the victims. Recognizing the scale of the loss, Lutnick pledged to distribute 25% of Cantor Fitzgerald’s profits to the victims’ families over five years, a sum that eventually totaled approximately $180 million. He also provided 10 years of healthcare coverage for surviving family members, ensuring that their immediate and ongoing needs were met.
To further formalize this commitment, Cantor Fitzgerald established the Cantor Fitzgerald Relief Fund. Initially created to support the families of 9/11 victims, the fund has since expanded its mission. Today, it provides aid to individuals and families affected by terrorism, natural disasters, and other emergencies. The Relief Fund also supports wounded members of the military, direct service organizations, and various charities, embodying a broader ethos of resilience and compassion.
Despite the overwhelming challenges, Cantor Fitzgerald managed to rebuild and continue its operations. Lutnick often emphasized the importance of honoring the memory of those lost by ensuring the firm’s survival and success. In his words, “If we had gone down, then they would have died twice.” This resolve not only enabled the company to recover but also underscored the enduring spirit of those who perished.
Howard Lutnick’s role has extended beyond Cantor Fitzgerald. As a key figure in the 9/11 aftermath, he has become a symbol of corporate resilience and philanthropy. Recently, Lutnick returned to the national spotlight as Donald Trump’s pick for Commerce Secretary, a position that further highlights his influential career.
The legacy of Cantor Fitzgerald’s response to 9/11 is one of perseverance, generosity, and a commitment to remembering those who were lost. The company’s continued work through the Relief Fund ensures that their memory lives on, not just in the hearts of loved ones but also in the lives of those the fund continues to help. Cantor Fitzgerald’s story stands as a testament to the power of collective resilience and the enduring impact of corporate goodwill in the face of tragedy.
Cited sources
- About Resilience. Committing to a culture of goodwill: Cantor Fitzgerald on 9/11. [Internet]. [cited 2025 Jan 21]. Available from: https://www.aboutresilience.com/committing-to-culture-of-goodwill-cantor-fitzgerald-on-9-11/#:~:text=The%20company%20is%20a%20pioneer,afloat%20after%20the%20terrorist%20attacks.
- Wagner Magazine. Life After 9/11. [Internet]. [cited 2025 Jan 21]. Available from: https://wagner.edu/wagnermagazine/life-after-911/#:~:text=Cantor%20Fitzgerald%2C%20which%20occupied%20floors,still%20here%2C%E2%80%9D%20he%20says.
- NY1. Howard Lutnick, key figure in 9/11 aftermath, returns to spotlight as Trump booster. [Internet]. [cited 2025 Jan 21]. Available from: https://ny1.com/nyc/all-boroughs/politics/2024/11/21/howard-lutnick–key-figure-in-9-11-aftermath–returns-to-spotlight-as-trump-booster#:~:text=*%20Cantor%20Fitzgerald%20CEO%20Howard%20Lutnick%2C%20Trump’s,over%20five%20years%2C%20about%20$180%20million%20total.
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