He came to us from Deerfield. At Princeton, where his father was in the Class of 1923, Gates graduated with honors in history and was a member of Cottage. After earning an MBA from Columbia Business School, he returned to the Philadelphia area to join the investment company Drexel & Co. (later Drexel Burnham) and became a partner in 1964. He retired in 1986 after suffering brain trauma when struck by a car in London.
Always active in his community, he served on many boards. He was the first recipient of the Pennsylvania Hospital Board of Managers’ Good Samaritan Award for his 34 years of service. He was an enthusiastic deep-water sailor, tennis and squash player, and skier. With others he founded the Camelback ski area in Pennsylvania.
In spite of his accident, which curtailed his physical activity, Gates remained optimistic and forward-looking.
He married Perky Wadsworth just three days after graduation. Perky, the mother of his five children, died in 1994. He married Ellen Arnold in 1999, adding four stepchildren to his family.
Gates is survived by Ellen; his five children, including Lallie ’74; brother Wingate ’53; and his greater family, which includes at least eight Princetonians.