NET WORTH: $1.46 billion
SOURCE OF WEALTH: Fayez Sarofim & Co.
FUNDING AREAS: Education & Youth, Arts & Culture, Health & Human Services
OVERVIEW: Fayez Sarofim and family move their philanthropy through the Sarofim Foundation, which gave away around $1.5 million in a recent year. Texas, particularly Houston, is an important region of giving. The Sarofims have made large gifts in education and the arts.
BACKGROUND: Born in Egypt, Fayez Sarofim graduated from UC Berkeley and received an MBA from Harvard Business School. In 1958, he established Fayez Sarofim & Co., now one of the largest and oldest privately-owned investment consulting firms in the United States.
EDUCATION & YOUTH: Sarofim has long been involved with Southwestern University in Georgetown, Texas, whose school of fine arts bears his name. He's given at least $15 million to the institution through the years. Sarofim's wife, Susan, is an important figure in this portion of the family's giving. She cofounded TEACH or To Educate All Children, which the family supports. Other grantees include New York University, St. George's School, and Episcopal High School.
ARTS & CULTURE: Sarofim has been a longtime patron of Museum of Fine Arts Houston, and gave the museum a $70 million donation to expand the museum's campus. Other grantees include Musiqa, Menil Collection, George W. Bush Presidential Center, and Stages Repertory Theatre, which has received strong support recently.
HEALTH & HUMAN SERVICES: Sarofim and Susan recently gave $25 million to Memorial Hermann to support a new patient care tower that will be named the Susan and Fayez Sarofim Pavilion. Other grantees include Memorial Sloan Kettering Cancer Center (Sarofim is an overseer emeritus), Susan G. Komen Houston, and Texas Children's Hospital, which received a seven-figure gift from the foundation recently.
LOOKING FORWARD: Expect Sarofim to continue to steadily fund these interests. Susan, Sarofim's wife, and her passion for education should be watched carefully. Susan has ties to New Orleans, a potential site of philanthropy going forward.
The Sarofim Foundation accepts inquiries at the address below:
Two Houston Center, Suite 2907
Houston, TX 77010