Click here to Skip to main content

Former Nets owner Henry Taub passes away at 83

Posted Apr 3 2011 9:36AM

TENAFLY, N.J. (AP) -- Henry Taub, who turned his small business into one of the world's largest payroll processing firms, has died. He was 83.

Automatic Data Processing announced Friday that Taub died Thursday at Mount Sinai Hospital in New York City. The cause of death was not disclosed.

A statement was issued by Nets CEO Brett Yormark regarding Taub's passing: "The Nets' organization was very saddened to learn of the passing of one of the team's former owners, Henry Taub. Henry was a key figure in bringing professional basketball to the state of New Jersey, and he will always have a prominent place in the history of the Nets' franchise."

Taub was a 21-year-old accountant when he started ADP in 1949. The Roseland, N.J.-based firm now has about 550,000 clients around the globe and nearly $9 billion in revenues.

Taub got the idea for his company when one of his accounting clients was late paying its workers because its payroll manager was ill. He soon started handling payrolls for several local companies and, since he didn't own a car, he often delivered payrolls by taking a bus to his clients.

A few years later, a young insurance salesman named Frank Lautenberg - who eventually would become a U.S. senator from New Jersey - joined the firm and soon rose through its ranks, helping to sell large businesses on the concept of letting ADP handle their payrolls.

"We worked a lot of seven-day weeks, but Henry never let (his brother) Joe or me leave the place without cleaning up and preparing for the next day," Lautenberg told The Record of Woodland Park. "He was brilliant, very disciplined."

Taub, who lived in Tenafly, served as ADP's chief executive officer until 1975 and was a member of its board of directors from 1961 to 2009. At the time of his death, he was serving as its honorary chairman, a post he had held since 1986.

He also served on the boards of several major national companies and was a co-owner of the New Jersey Nets basketball team for nearly 20 years.

Taub also was a well-known philanthropist who supported numerous causes in the United States and Israel. He founded the Henry and Marilyn Taub Foundation, which has assets of about $150 million and often donates money to educational and health causes.

photoCleveland Cavaliers Eastern Conference Champions
The Cavaliers are presented the Eastern Conference championship trophy following their series-clinching victory over the Raptors on Friday night.
photoIn Memoriam: Bryce Dejean-Jones
Highlights from Bryce Dejean-Jones career.
photoLeBron Gets Emotional
LeBron James gives an emotional postgame interview following the Cavaliers series-clinching victory in the Eastern Conference Finals.
photoLeBron Crushes the Alley-Oop
Check out LeBron James' first half highlights from the Game 6 of the Eastern Conference Finals.
photoBest of Playoffs Phantom: Cavaliers vs. Raptors Game 6
Check out the best of the super slow motion Phantom camera action shots from Game 6 of the Eastern Conference Finals.

Copyright © NBA Media Ventures, LLC. All rights reserved. No portion of may be duplicated, redistributed or manipulated in any form. By accessing any information beyond this page, you agree to abide by the Privacy Policy / Your California Privacy Rights and Terms of Use. | Ad Choices Ad Choices is part of Turner Sports Digital, part of the Turner Sports & Entertainment Digital Network.