Words by Smiley Team
Known as a ‘superstar trader’ after he set up one of the first hedge funds in the 1980s, stockbroker Julian Robertson is seen as a pioneer of the modern hedge fund industry.
His trading skills also led him to amass a $4.5bn fortune, and as a keen philanthropist he has pledged to give away the majority of his wealth either during his lifetime or in his estate.
So far Robertson, 88, has donated $1.3bn to good causes, mostly through his own charitable foundations, including the Tiger Foundation, which focuses on funding projects and initiatives in New York City.
And he has also signed the Giving Pledge, a promise made by the ultra rich to donate the majority of their wealth to good causes.
Explaining his attitude towards giving, Robertson stated in the pledge: “In 1990 I set up the Tiger Foundation to help alleviate poverty in New York.
“In my business, I was then working with some great young people who had marvelous leadership credentials, and I wanted to encourage them to be philanthropists.
“This has turned out well, as the foundation has become extremely respected in its quest to alleviate poverty and has spawned a number of young people who have become great philanthropists in their own right.
“Frankly, I count the Tiger Foundation as the most successful venture I have had a hand in starting.”
Robertson’s giving is mainly focused around education, the environment and medical research. During the Covid pandemic the Tiger Foundation launched a $5m emergency fund, and increased their grant giving by $20m in order to react quickly to the crisis.
In 2021 the foundation has budgeted an additional $5.5m towards crisis recovery, which has been used to support families at risk of eviction as well as creating academic support programmes and enrichment opportunities this summer before children and young people go back to school in autumn.
Reflecting on his philanthropy, which was undertaken with his late wife, Robertson has said: “Philanthropy was a part of our lives that we both enjoyed greatly.”
To find out more about the Tiger Foundation see their website.
