In 1938, he was named to the board of directors of the Mutual Benefit Life Insurance Company and in 1946 became its chairman and chief executive.

The bank, insurance company, and himself provided a combined $1 million gift to Seton Hall University in 1973 to found the W. Paul Stillman School of Business Administration.

Concentrations include: The Leadership Honors Program at Stillman is offered to a small select group of undergraduates admissions.

Requisite skills include outstanding academic service, extra curricular activities and prior demonstration of leadership roles in high school and community clubs, organizations, and sports.

Leadership students are afforded unique international travel opportunities and participation in executive mentoring programs.