Bennett LeBow is the Chairman of the Board and CEO of Vector Group, the holding company for, among other companies, Liggett Group Inc., the sixth largest manufacturer of cigarettes in the United States. LeBow has been affiliated with the company since 1986. Under his leadership, Liggett Group broke ranks with the rest of the US tobacco industry, including Philip Morris, Brown and Williamson, RJR Nabisco, Loews and Lorillard, when he announced the Liggett would settle the Medicaid tobacco suits brought by forty state attorneys general. Liggett publicly announced that smoking is addictive and causes cancer and other health ailments, turned over long-secret tobacco industry documents, disclosed its ingredients, and testified against the industry. Liggett was the first cigarette company to voluntarily put the label "Nicotine is Addictive" on their product.

LeBow is a 1960 graduate of Drexel University, where he obtained a degree in electrical engineering. In 1998, Drexel's College of Business and Administration was named in his honor. Further, he endowed the Bennett S. LeBow Engineering Center, a state-of-the-art facility that houses Drexel's College of Engineering.