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Hedge Fund Managers Charity

Hedge Fund Managers Charity

Hedge Fund Managers Among 40 Donating Billionaires

You may have heard the exciting news that 40 billionaires have pledged to give at least half of their wealth to charity. Among these wealthy individuals are some representatives of the hedge fund and private equity industries.

Farallon Capital Management's head Thomas Steyer made the pledge. Also, other high profile business men and women include: Centaurus Energy’s John Arnold, Blackstone Group co-founder Peter Peterson, BP Capital’s T. Boone Pickens, Tiger Management founder Julian Robertson, the Carlyle Group’s David Rubenstein, Renaissance Technologies founder James Simons, and Shelby White, the widow of hedge fund pioneer Leon Levy.
Business people “are pretty widely mistrusted and seen as overwhelmingly self-interested,” Farallon Capital Management chief Thomas Steyer, who made the pledge with his wife, Kat Taylor, said. “The point is that business people are not just laboring for themselves. They have bigger responsibilities and belong to a wider community.”

Also making the pledge are New York Mayor Michael Bloomberg, David Rockefeller, and Star Wars creator George Lucas.

“As I watched and learned from my father’s example, I noticed how much pleasure his giving to others gave him,” Peterson said. “Indeed, today, I get much more pleasure giving money to what I consider worthwhile causes than making the money in the first place.”

“We view our wealth in this light—not as an end in itself, but as an instrument to effect positive and transformative change,” John Arnold and his wife, Laura, added.

Related to: Kynikos Associates | James Chanos | Hedge Fund Notes

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