NET WORTH: $3.1 billion
SOURCE OF WEALTH: Cofounder of Apollo Global Management
FUNDING AREAS: Education, Jewish causes, Health, NYC community.
OVERVIEW: Billionaire Marc Rowan and his wife Carolyn conduct their philanthropy through the Rowan Family Foundation, established in 2005. The foundation has substantially increased its giving in recent years. Rowan has heavily supported his alma mater, University of Pennsylvania, where he is a member of the board.
BACKGROUND: Marc Rowan was born into a Jewish family in 1962. He graduated from University of Pennsylvania's Wharton School of Business with a B.S. and an MBA in Finance. After receiving his degrees, he worked in Mergers & Acquisitions at Drexel Burnham Lambert. When Drexel went under, Rowan went on to co-found Apollo Global Management in 1990.
EDUCATION: Rowan's alma mater, University of Pennsylvania, has been a significant target of his philanthropy. In 2012, Rowan, along with fellow Wharton alums Marc A. Spilker (who was once president of Apollo Global) and his wife Diane Spilker, gave $11 million to establish the Wharton Public Policy Initiative. The couple have continued to support UPenn via their foundation. Other grantees have included Say Yes to Education, "a nonprofit that seeks to improve inner-city education," Regents of the University of Michigan, Columbia Prep, Riverdale Country School, Harlem Village Academies, and the Public Education Foundation, among others.
JEWISH CAUSES: Rowan was born into a Jewish family and supports several Jewish causes. He is chair of the board of Youth Renewal Fund, which works to improve education for Israeli children. Other grantees include Hebrew Charter School, American Friends of LIBI, Congregation Emanu-El, and Congregation Rodeph Sholom. In 2013, he gave a $1 million gift to Western Wall Heritage Foundation, which maintains and provides education about the Western Wall in Jerusalem.
HEALTH: Grantees have included Crohn's & Colitis Foundation of America, Food Allergy Research Initiative, Mount Sinai, National Psoriasis Foundation, Michael J. Fox Foundation, and FasterCures. The couple does not appear to have an interest in any one particular health cause.
NYC COMMUNITY: The Rowans have supported groups like WeCARE NYC, a workplace development program, New York City Police Foundation, Randall's Island Park Alliance, FDNY Foundation, Vineyard Theatre, Robin Hood Foundation, and Works & Process at the Guggenheim, among others.
LOOKING FORWARD: Rowan is only in his fifties, and still very much engaged in business. But his already considerable fortune and steady annual increases in giving make him someone to keep an eye on for greater philanthropy down the line.
The Rowan Family Foundation does not provide a clear avenue for getting in touch with the couple but below is a mailing address:
Rowan Family Foundation, Inc.
712 5th Ave., 30th Floor
New York, NY 10019