Daniel and Margaret Loeb
/SOURCE OF WEALTH: Third Point Management
FUNDING AREAS: Education, Health, Arts & Culture, Policy and Justice
OVERVIEW: Daniel and Margaret Loeb move their philanthropy through the Loeb Family-Third Point Foundation, which supports education, health, arts and culture, and policy and justice. Much of their giving remains in the New York City area. Currently available tax filings show that the foundation awarded $6.7 million in grants in 2017.
BACKGROUND: Daniel Loeb grew up in California and attended the University of California, Berkeley before transferring to Columbia and graduating with an economics degree. He had an early interest in the stock market, and invested successfully while still in school. He worked in finance at several firms and eventually became a vice president at Citibank, where he worked in the high-yield bonds division. In 1995, he founded Third Point Management with about $3.3 million from family and friends. The hedge fund currently manages over $10 billion in assets. Margaret Munzer Loeb is a graduate of Brown University and earned a master’s degree in social work from New York University.
ISSUES:
EDUCATION: The Loebs’ education philanthropy aims to “ensure all children have equal access to high quality education.” Daniel Loeb is a member of the board of directors of Success Academies, a New York City charter school network. In 2018, the Loebs gave the organization $15 million to establish the Loeb Fund to Reimagine the American High School. Other New York City grantees include Prep for Prep, the East Harlem Tutorial Program, and StudentsFirstNY, an educational advocacy organization that Daniel Loeb helped to found. In higher education, the Loebs have endowed a scholarship at Columbia, and have given to New York University and Brown.
HEALTH: Daniel Loeb is a trustee of New York City’s Mount Sinai Hospital. In 2014, the Loebs gave $15 million toward the establishment of the Ronald M. Loeb Center for Alzheimer’s Disease at Mount Sinai in honor Daniel’s late father. Other past grantees in the area of health include the Leukemia and Lymphoma Society, the Michael J. Fox Foundation and the Ovarian Cancer Research Alliance.
ARTS & CULTURE: An avid art collector, Daniel Loeb is a trustee of the Museum of Contemporary Art Los Angeles. The couple has also supported several arts and culture organizations in New York City, including the New York Public Library, the Jewish Enrichment Center and the Central Park Conservancy.
POLICY AND JUSTICE: The Loebs have supported a broad variety of progressive causes, including reproductive rights, LGTB issues and criminal justice. Daniel Loeb has been an outspoken supporter of marriage equality and reproductive rights, and has donated to organizations such as Planned Parenthood and NARAL Pro-Choice America. In the area of criminal justice, the couple’s foundation has supported the Innocence Project, the Marshall Project and New York University’s Brennan Center for Justice. Daniel Loeb is a member of the Council on Foreign Relations and has supported the American Enterprise Institute, a conservative think tank.
LOOKING FORWARD: The Loebs currently support a very broad range of philanthropic causes. It is possible that their interests will become more refined the coming years. It is likely, however, that Daniel Loeb will remain involved in the charter school movement and that the couple will continue to support organizations based in New York City.
LINK:
Marrgaret and Daniel Loeb-Third Point Foundation
CONTACT:
Loeb Family – Third Point Foundation
390 Park Avenue, 18th Floor
New York, NY 10022
