Howard Lutnick and Larry Silverstein on 911

Howard Lutnick and Larry Silverstein on 9/11

On September 11, 2001, Howard Lutnick, CEO of Cantor Fitzgerald, was not in his office in the North Tower of the World Trade Center when American Airlines Flight 11 struck at 8:46 a.m. Lutnick was **dropping his son off on the first day of school**, which delayed his arrival at work. Cantor Fitzgerald occupied several floors near where the plane impacted, and 658 of the firm’s employees in the building were killed, including Lutnick’s brother.

Larry Silverstein, head of Silverstein Properties and the leaseholder of the World Trade Center complex as of July 2001, was also not present at the towers that morning. Silverstein had a scheduled dermatologist appointment and did not go to his offices in the North Tower. Some Silverstein Properties staff were in the building at the time; several died in the attacks.

Both Lutnick’s and Silverstein’s absences were due to personal schedules and timing. There is no verified evidence that either had prior knowledge of the attacks. Their situations have been widely documented in historical accounts of the events of 9/11.

In the aftermath, both individuals were involved in insurance settlements. Cantor Fitzgerald received **approximately $1.6 billion in insurance payouts**, part of which Lutnick used to compensate the families of employees who died. Silverstein Properties pursued legal claims over insurance coverage for the destroyed towers, ultimately receiving **over $4 billion** to rebuild and cover property losses. These payouts were part of rebuilding and compensation efforts, not profit from the attacks.