NET WORTH: $2.9 billion
SOURCE OF WEALTH: Third Point LLC
FUNDING AREAS: Education, Health, Arts & Culture, Progressive Issues, NYC Community
OVERVIEW: Through the Loeb Family's Third Point Foundation, Loeb supports a variety of organizations with smaller donations, mostly focusing on arts and culture in New York, but also contributing to a wide range of health causes, and other select causes. He is also a trustee at several non-profits, but donations to these organizations appear to be more private, so the scale of his giving is unclear.
BACKGROUND: Loeb grew up in California and attended UC Berkeley before transferring to Columbia. He had an early fascination with the stock market, and invested while he was still in school. Once he graduated, he took a series of jobs at financial firms, ultimately ending up at Citigroup before leaving to start Third Point Management in 1995, which he started with $3.3 million from family and friends and has grown into a $1.7 billion business.
EDUCATION: Loeb is the chairman of Success Academies Charter in Brooklyn, though it’s unclear how much financial support he’s given the school. He has contributed to Prep for Prep, a program that works to place promising students of color in private and boarding schools, and to the Robin Hood Foundation, which counts charter school operation among its programs. He’s also endowed a scholarship at Columbia, and provided smaller donations to schools and educational programs such as NYU, Brown, and the East Harlem Tutorial Program. He is a co-founder of StudentsFirst New York, the state branch of the national education advocacy organization.
HEALTH: Loeb is a trustee of the Mount Sinai Hospital in New York, where at the end of 2014, Loeb made a $15 million donation to Mt. Sinai to establish the Ronald M. Loeb Center for Alzheimer’s Disease in honor of his father who passed away from Alzheimer's. Loeb has also made a number of smaller health donations, to causes that include children’s cancer, tourette syndrome, ALS and muscular dystrophy, though the largest appears to be reproductive health.
ARTS & CULTURE: Though most of his giving is done in the NYC area, Loeb is a trustee at the Los Angeles Museum of Contemporary Art. Apart from that, he appears to favor museums and theaters in the New York area, and is also an avid art collector, so we could see more significant donations to museums in the future, both monetary and in-kind.
NYC COMMUNITY: Much of Loeb’s giving is done on a smaller scale, and focuses on non-profits in New York City. He supports numerous Jewish cultural organizations, most notably the Jewish Enrichment Center, as well as various museums, arts and cultural organizations, the NYC public library, the Central Park Conservancy, historical preservation societies, the YMCA, organizations the support the homeless, and animal rescue organizations.
PROGRESSIVE ISSUES: Loeb has been an outspoken supporter of marriage equality and reproductive rights, supporting organizations such as Planned Parenthood and NARAL Pro-Choice, was a signatory on a brief to the Supreme Court in favor of same-sex marriage, and has contributed to Media Matters. He's also begun supporting incarceration reform, having donated to the Innocence Project, the Marshall Project, and the Brennan Center for Justice. On some issues however, he appears less progressive, as a member of the National Council of the American Enterprise Institute and the Council on Foreign Relations.
LOOKING FORWARD: Loeb is still relatively young, and has a long career in philanthropy ahead of him. Though he lives in New York, his connection to Los Angeles could present an opportunity, particularly for charter schools, theatre companies, and arts organizations. He’s also shown an affinity for organizations that serve sick or underprivileged kids, and is definitely a strong advocate for women’s rights, but the list of causes he’s lent his support to is pretty broad, so it’s hard to predict what cause he may decide to champion next. Contributions are only made to pre-selected organizations, and staff is minimal, so getting consideration for organizations with no personal connection may prove difficult.
Loeb Family – Third Point Foundation
15 Central Park W., Ph. 39
New York, NY 10023-7719