Honoring the Life and Legacy of William R. Berkley

WASHINGTON, June 17, 2026—The Horatio Alger Association mourns the loss of William Robert Berkley, a 2024 recipient and dedicated Member of the Association. Born in northern New Jersey, Mr. Berkley was the second of three sons. After losing his father when he was in the sixth grade, he became determined to be self-sufficient – selling biscuits door to door, working in a local supermarket, and running a paper route. These early experiences instilled the work ethic, entrepreneurial drive, and perseverance that defined his life and career.

A determined student, Mr. Berkley attended New York University on a full-tuition scholarship, double majoring in statistics and finance and graduating in just three years. While earning his MBA at Harvard Business School, he founded his first investment advisory firm, managing $10 million in assets by the time he graduated in 1968. He later established W.R.Berkley Corporation, taking the company public in 1973 and building it into one of the nation’s leading commercial insurance organizations, with more than 50 successful insurance businesses and a market value exceeding $20 billion. He served as executive chairman, working alongside his son, the company’s CEO.

Deeply committed to his alma mater and to expanding educational opportunity for others, Mr. Berkley served on the NYU Board of Trustees for 30 years, including eight as chairman. He and his wife, Marjorie, donated more than $50 million to the university’s Leonard N. Stern School of Business, and through the Berkley Family Foundation, he supported causes in education, healthcare, and the environment. Though a recent Member of the Horatio Alger Association, he was a devoted champion of the Association’s mission to help deserving young people achieve their own American dream, serving on the Endowment Fund Board of Directors.

Mr. Berkley’s remarkable career, generosity, and unwavering belief in the promise of the American dream will leave a lasting legacy. We extend our deepest sympathies to the Berkley family and remain grateful for his many contributions to the Association and the inspiring example he set for generations to come.