Louis Bamberger was a citizen of Newark, New Jersey, from the early 1900s until his death in 1944. He and his sister Caroline Bamberger Fuld co-founded the Institute for Advanced Study in Princeton, New Jersey. He was a businessman and philanthropist and at his death all flags in Newark were flown at half-staff for three days, and his large department store closed for a day.

The Institute for Advanced Study (IAS) is an independent center for theoretical research and intellectual inquiry located in Princeton, New Jersey. It has served as the academic home of internationally preeminent scholars, including Albert Einstein, J. Robert Oppenheimer, Hermann Weyl, John von Neumann, and Kurt Gödel, many of whom had emigrated from Europe to the United States.