be built and not delayed by economic
downturns. About $305 million has
been raised from other sources so far
toward the goal of $360 million from
other sources, according to a Hadassah
development spokesman.
"The Davidson family gift, of course,
is the largest, but we've received many
$1 million gifts from people in the U.S.,
including Michigan," he said.
$200 Million To Charity
When Davidson died at 86 of compli-
cations from pneumonia on March
13, 2009, his wealth was estimated at
anywhere from $2.1 to $3.5 billion by
Forbes magazine and other financial
sources. He had donated more than
$200 million in his lifetime to world-
wide institutions and causes, much of it
to Jewish organizations and causes.
"Many people think Bill made his
money from owning the Detroit Pistons
(the National Basketball Association
franchise), but he did it thiough 50-60
years of hard work and business acu-
men," Karen pointed out.
"Guardian was the driving force
behind all of this. It's sort of funny
because much of the general public
really doesn't know what and where
Guardian is. It keeps below the radar
in a state that's dominated by the auto
companies!"
Karen philosophized about Guardian
and other subjects as she sat in the
living room of the modern home on
Lahser Road that she took about five
years to help design. The contemporary
home probably should be measured in
square feet of glass rather than floor
space.
"Officially, the architects were Young
and Young [in Bloomfield Hills], but
unofficially, the house was designed by
a group of Guardian glass engineers:'
she quipped.
The Davidson family owns Guardian
through a mixture of trusts and corpo-
rations, but Karen makes it clear she
has "nothing to do with running the
company."
"I'm an owner and I attend some
meetings, but that's about it," she said.
"They do very well on their own!'
The only Davidson family member
in a high position at Guardian is Bill's
nephew, Ralph Gerson, who is executive
vice president.
"Bill didn't believe in placing family
members in the business just because
they were related to him; he felt people
should get jobs based on merit:' she
said.
She Serves Eight Boards
Karen is now on the boards of eight
companies or organizations, plus sev-
eral committees, and maintains a pretty
hectic schedule.
"When Bill died, Karen had a lot to
learn about the business side of his life
said Robert Kennedy, executive direc-
tor of the William Davidson Institute
at the Ross School of Business at the
University of Michigan.
"Before that, she was focusing on
the house and her family. But then she
also had to focus on trusts, corpora-
tions and all aspects of the business.
She's been very successful at this, and
trying her best to help preserve Bill's
legacy!'
It's a far cry from the quiet upbring-
ing of Karen Weidman, who was born
in 1949 in the small town of La Porte,
Ind. (population 22,000), just west of
South Bend. She attended boarding
school in Oregon, then graduated from
U-M with a biology degree. She met
her first husband in California "and I
settled down to raise three children,"
she said.
They are Elizabeth Reaser, an actress
with 30 movies and television shows
to her credit, including the popular
Twilight saga, with her next movie,
Liberal Arts due out soon; Emily
Reaser, who also is single; and Mary
Aaron, married to Jon, with four chil-
dren.
Estate Still Not Settled
Jon Aaron is a former Guardian employ-
ee who now works full time settling
Bill's estate, which still is not finalized
almost four years after his death. Large
amounts of money are released periodi-
cally to the family and the Davidson
Foundation as various governmental
requirements are satisfied, and $1 bil-
lion reportedly was released recently,
according to Karen Davidson, the foun-
dation's treasurer.
"The estate seems to have taken
on a life of its own:' Karen said. "The
government is always asking for more
information, sending us forms to fill out
and so forth.
"And crackpots show up every so
often claiming Bill promised them
chunks of the estate; some have sued
us. One man even took the last name of
Davidson!"
But the foundation, composed
mostly of family members, has made
grants without much fanfare to the
Jewish Federation of Metropolitan
Detroit ($1 million), Congregation
Shaarey Zedek in Southfield
($500,000) and several Detroit cul-
tural and educational institutions.
Bill was a longtime member and past
president of Shaarey Zedek.
"I'm trying to keep doing many of the
same things we did together;' she said.
"I'm even a staunch Republican like he
was, and I'm supporting Mitt Romney
for president."
Bill's Dreams on page 12
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