Steinberg offered the Reliance shareholders a combination of convertible subordinated debentures and common stock warrants (rather than cash).

[citation needed] In 1969, Steinberg attempted to take over Chemical Bank, then one of the nation's largest financial institutions.

[9] The two initially got along, but the relationship quickly soured, and Steinberg was able to rally British investors to oust Maxwell from his position.

Steinberg took on large amounts of debt during the junk bond era and grew, apparently by underpricing its insurance policies.

[2] At Reliance, Steinberg hired dealmaker Henry Silverman, who later became the CEO of HFS Inc. and later Cendant Corp.

Steinberg was forced to sell his extensive art collection along with his 17,000 square-foot, 34-room duplex apartment at 740 Park Avenue in Manhattan, which was bought for "slightly above or below $30 million" in 2000 by Stephen A. Schwarzman of the Blackstone Group.

[15] The Steinberg name is highly visible at Wharton, most notably attached to Steinberg-Dietrich Hall, which served as the main undergraduate building, containing classrooms, lounges, computer labs, and departmental offices.

[18] In 2000, Steinberg donated The Death of Adonis (1614) by Peter Paul Rubens to the Israel Museum in Jerusalem.

[19] In 1989, Steinberg hosted an opulent 50th birthday party for himself that included live models depicting his favorite Renaissance paintings.

[30] In 2000 Steinberg sold his apartment at 740 Park Avenue in Manhattan to financier Stephen A. Schwarzman of The Blackstone Group for a reported $37 million.