Walter Annenberg's Dream

Walter Annenberg grasped the power of _a few big ideas._

By Merrill Vargo and Nicolette Toussaint

Walter Annenberg, the publishing magnate, former U.S. ambassador, and educational philanthropist extraordinaire who died last month, lived a life that was an "American dream" writ large. Its plot is an old one: An immigrant family works hard, becomes rich, and produces a child who befriends presidents. Although this modern fable grates against contemporary cynicism, teachers work every day to make sure the story remains a possibility. Now, just as when Mr. Annenberg's father first set foot on our shores, public schools remain the last, best hope for millions of immigrant children.

Ambassador Annenberg will be remembered for his fortune, his public service, and his philanthropy. Pledging half a billion dollars to support public school reform, he touched the lives of 1.5 million students and 80,000 teachers scattered across 35 states. To understand the motivation behind a gift this vast, it helps to understand the details of his personal story.

Walter Annenberg was a shy child with a deaf, deformed ear and a stutter. As an adult, he drew strength from adversity, parlaying his father's bankrupt business into a publishing fortune and serving as ambassador to Britain. But the Annenberg fortune was built on publications that serve ordinary people; it is hard to imagine a broader reader base than that of TV Guide .