Word: philanthropists
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Before Bernie Madoff admitted to running a massive Ponzi scheme, Jeffry Picower was known for being a philanthropist. With about $1 billion in assets, the Picower Foundation, which he started with his wife Barbara, supported causes like neuroscience research at MIT and public education in Florida. The largesse seemed a fitting testament to the Bronx, N.Y., native's ascent from accountant and lawyer to billionaire investor and buyout artist...
Jeffry M. Picower, an education philanthropist who invested billions in Bernard L. Madoff’s $50 billion Ponzi scheme, was found dead in his swimming pool after suffering a heart attack last Sunday—less than a year after his foundation pulled the plug on millions of dollars in promised funding for diabetes research at the Harvard Medical School and its affiliated hospitals...
...prize committee, which is appointed by former cell-phone magnate turned philanthropist Ibrahim and his board, is nevertheless completely independent. It's a star-studded lineup that is chaired by former U.N. Secretary-General Kofi Annan and includes former Finnish President and Nobel laureate Martti Ahtisaari, former International Atomic Energy Agency head and Nobel laureate Mohamed ElBaradei and former Irish President Mary Robinson. The committee said it would not discuss its thinking behind this year's non-award, though Robinson did note that it would have been hard to award a similar prize to a recently retired leader from...
...quantifiable standard, the city is on life support. Detroit's treasury is $300 million short of the funds needed to provide the barest municipal services. The school system, which six years ago was compelled by the teachers' union to reject a philanthropist's offer of $200 million to build 15 small, independent charter high schools, is in receivership. The murder rate is soaring, and 7 out of 10 remain unsolved. Three years after Katrina devastated New Orleans, unemployment in that city hit a peak of 11%. In Detroit, the unemployment rate is 28.9%. That's worth spelling out: twenty-eight...
Finn M.W. Caspersen, a graduate of Harvard Law School and a prolific philanthropist who raised and donated huge sums to the Law School, died last week of an apparently self-inflicted gun-shot wound. Caspersen, the former Chairman of the Beneficial Corporation, a consumer finance corporation, donated over $30 million to the Law School and served as the chairman of the successful capital campaign which ended last year and raised $476 million, the most successful fund-raising campaign in the history of legal education. Caspersen’s death comes at a time when his fund-raising abilities may have...