Stanley Druckenmiller retired from his hedge fund, Duquesne Capital Management, a few years ago with a big pile of money and soon ramped up his philanthropy. He and his wife Fiona run the Druckenmiller Foundation, which gave away around $74 million in 2013, and very big sums in previous years. A lot of this money has gone to New York City institutions.
Assets of the Druckenmiller foundation stood at nearly $1 billion at the start of 2014, and may well be higher now. As importantly, Stanley Druckenmiller's net worth sits at $3.1 billion so there's still a good amount of money left in the pot.
Druckenmiller serves as chair of Harlem Children's Zone, and education and poverty are top priorities. Since 2006, Harlem Children's Zone has received somewhere in the neighborhood of $100 million. The couple's staunch support of HCZ reveals a key aspect of Druckenmiller's philanthropy:
1. The couple's giving is personal
Founder, CEO and president of Harlem Children's Zone, Geoffrey Canada tapped his billionaire friend and fellow Bowdoin alum Druckenmiller for funds. Druckenmiller agreed, handpicked the board, and has been working with Canada ever since.
Another large gift from the couple went to NYU Medical School, where a $100 million grant established the Neuroscience Institute at NYU School of Medicine. One of Druckenmiller's daughters is at NYU's School of Medicine. Fiona is also a trustee at NYU Langone. Paul Tudor Jones, another hedge fund billionaire who's friends with Druckenmiller, also sits on the board of trustees.
Speaking of Tudor Jones, the Druckenmillers have given large sums to the Robin Hood Foundation as well. Finally, Fiona's alma maters Spence School and Barnard have seen support over the years.
The common thread here is that much of the Druckenmiller's philanthropy has personal motivations.
2. Apart from Harlem Children's Zone, other education outfits have recieved money as well
Teach for America has received at least $100,000 annually in recent years. Smaller sums have gone to Harlem Village Academies, a tuition-free private school in East Harlem called Children's Storefront, Prep for Prep, and the Ubuntu Education Fund. The couple also gives college scholarships to between 20 and 30 students annually through their foundation, though there appears to be no geographical preference here. Oh, and Druckenmiller kicked in $1 million in 2013 to help advance embattled school reform efforts in Newark.
3. The couple's interests are diverse
While education, poverty and even health appear to be main focuses of the couple, many other New York institutions have received money, as well. In art, MoMA, the Museum of Art & Design, the American Museum of Natural History, among others, have received modest sums. Fiona is vice chair at the Natural History Museum.
The Druckenmillers have recently been getting into environmental causes as well, perhaps spurred by their other daughter, Hannah, who has a passion in this area and has worked the National Resources Defense Council and the Environmental Defense Fund. The Environmental Defense Fund received $3.5 million from the couple in 2013.