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Philanthropic People: Daniel Loeb

daniel loeb philanthropist
Image via Third Point.

Daniel Loeb, CEO of Third Point LLC and a leader in portfolio management, risk management, and research, may be best known for his contributions to the business world…but he has a long history of diverse charitable giving as well.

Loeb’s causes include education, health, community, and progressive issues such as LGBT rights.

Education: Daniel Loeb serves as chairman of the Success Academies Charter Schools in Brooklyn, which promote educational reform and access to education for children from all backgrounds. Since 2004 he’s also been a Trustee of Prep for Prep, a New York City organization that helps underprivileged children attend and thrive at competitive independent schools. Loeb has donated $1.5 million to the program as well. Other educational projects that have piqued his philanthropic interest include the Robin Hood Foundation, a scholarship endowment at his alma mater Columbia, and the co-founding of Students First New York, the state branch of a national education advocacy program.

Health: Loeb is a Trustee of Mount Sinai Hospital in New York and has donated extensively to research in children’s cancer, Tourette’s syndrome, ALS, muscular dystrophy, and reproductive health.

Arts, Culture, and Community: Most of Loeb’s giving in this area goes to organizations in New York City; however, he’s also a Trustee at the Los Angeles Museum of Contemporary Art and an avid art collector. His community interests include numerous Jewish nonprofits (including the Jewish Enrichment Center in New York) and other museums, arts and cultural organizations, the New York City Public Library, the Central Park Conservancy, historical preservation sites, the YMCA, and organizations supporting the homeless. This part of Loeb’s giving is fueled in large part by his belief that, while the financial markets in which he works can make the world a better place, “folks are left behind.”

Progressive Issues: In addition to supporting New York’s law to legalize gay marriage in 2011, Loeb continues to support marriage equality and reproductive rights through organizations like the Human Rights Campaign, Planned Parenthood, and Media Matters.  

With a wealth of life and business experience—not to mention a net worth of $2.3 billion—Daniel Loeb continues to support a variety of causes and give back to the community.

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Philanthropic ‘Frenemies’ Compete in Charitable Giving

Challenged Athletes Foundation
IMG: Facebook via Challenged Athletes Foundation

The saying goes, “a little friendly competition never hurt anyone.” This is especially true in the world of philanthropy, where being the biggest donor means that everybody wins.

There is currently some friendly competition happening between mega-donors Daniel Loeb and Bill Ackman, two hedge funders that the media has playfully dubbed “frenemies” on more than one occasion. According to Jen Wieczner for Fortune, “First it was an epic bicycle race. Then it was their battle over Herbalife. Now, hedge fund frenemies William Ackman and Daniel Loeb have added a new chapter to their rivalry: Who can raise more for charity?”

Reportedly, Ackman and Loeb are both currently focused on supporting the Challenged Athletes Foundation (CAF), an organization that provides sports equipment to those with physical disabilities. In 2012, CAF honored Loeb at its annual gala event, “A Celebration of Heroes, Heart, and Hope,” for his generous contributions to the organization and its programs. This year, Ackman was honored at the annual gala for his own donations to CAF, and raised nearly twice as much as Loeb did during the event just a few years prior.

This is where the friendly charitable competition really began to heat up. As Wieczner reports, “Loeb, however, is hardly admitting defeat. In fact, he takes some credit for the success,” noting how Loeb recruited Ackman to support CAF. “I knew CAF’s mission would resonate with Bill because of our shared appreciation for the value of athletics,” Loeb has said.

Regardless of who raised the most money for CAF at the annual “Celebration of Heroes, Heart, and Hope” gala, the event experienced unprecedented success, and the organization will be able to support even more victims of physical trauma and athletes with physical disabilities. When prominent philanthropists like Loeb and Ackman compete to make money for a cause like CAF, everyone truly comes out on top.

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Two Major Philanthropic Foundations Team Up for Human Rights

Two Major Philanthropic Foundations Team Up for Human Rights
HRC is the largest LGBT equality-rights advocacy group in the US.
IMG: via Shutterstock

In an excellent example of collaborative philanthropy, the Daniel S. Loeb Family Third Point Foundation and the Paul E. Singer Foundation are teaming up to award the Human Rights Campaign grants to support LGBT rights abroad. Earlier this month, the Human Rights Campaign (HRC) announced how these two influential foundations were pledging to award grants to the organization over three years. This generosity is meant to support HRC’s advancement in advancing LGBT equality overseas.

According to a press release from HRC, “Lesbian, gay, bisexual, and transgender communities around the world face stigmatization, harassment, violence and blatant human rights violations. To combat these horrific acts and to advance the cause of LGBT justice internationally, the Paul E. Singer Foundation is teaming up with the Daniel S. Loeb Family Foundation,” to provide funding for the education and research branch of the HRC. The HRC is the largest LGBT civil rights organization in the United States, and has been monumentally influential in the fight for LGBT rights in the U.S.

Now, the HRC is expanding its efforts to increase a more global reach, which wouldn’t be possible without the generosity of major philanthropic foundations. “I am proud to support HRC’s new initiative to protect LGBT rights globally,” remarked hedge fund manager and philanthropist Dan Loeb. Paul Singer concurs, explaining how “Every day around the world, LGBT individuals face arrest, imprisonment, torture and even execution just for being who they are…As an organization that has been at the forefront of the equality movement for over three decades, the Human Rights Campaign is uniquely positioned to work in tandem with NGOs to empower LGBT and human rights advocates abroad to help stop these abuses,” of his reasons for supporting such an important human rights initiative.

No strangers to philanthropic work, Dan Loeb and Paul Singer are aware of the great impact their grants will have in advancing global LGBT rights. Reportedly, each of them have been long-time advocates for human rights, which makes their collaboration and donation to the HRC all the more powerful.