Hurricane Benefit Concert Raises $30M For Hedge Fund Founder's Charity

Dec 13 2012 | 12:45pm ET

Last night's star-studded benefit concert for victims of Hurricane Sandy may not seem to have much to do with hedge funds. But the more than $30 million it raised will be distributed through a charity founded by Tudor Investment Corp. founder Paul Tudor Jones.

"Every single penny" raised "will go directly to the Robin Hood Relief Fund," David Saltzman, head of the Robin Hood Foundation, said. Jones founded Robin Hood, which usually focuses on homelessness and education in the Big Apple, more than 20 years ago.

The six-hour concert, beamed to the televisions of nearly two billion people, featured an astonishing array of legendary musicians, including Bon Jovi, Eric Clapton, Billy Joel, Alicia Keys, Coldplay's Chris Martin, the Rolling Stones, Bruce Springsteen, R.E.M.'s Michael Stipe, Kanye West and The Who. There was also a Nirvana reunion of sorts, with Paul McCartney filling in for the late Kurt Cobain.

The Madison Square Garden stage and its attendant celebrity phone-banks were also star-studded, with the likes of Steve Buscemi, Chelsea Clinton, Stephen Colbert, Billy Crystal, Jimmy Fallon, Jesse Jackson, Chris Rock, Adam Sandler, Kristin Stewart, Martha Stewart and Amar'e Stoudemire manning the phones, making pleas for donations or introducing rock stars.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...