Monday, 2 March 2015
Last updated 28 min ago
Apr 25 2013 | 10:08am ET
Paul Tudor Jones' latest philanthropic effort is an unusual one.
The Tudor Investment Corp. founder has put up $4 million to help Colorado improve a road that runs near his ranch in the state. Jones had previously given almost $1 million to get the project started.
Jones' money will go towards expanding about 11 miles of State Highway 9, near its northern terminus at Kremmling. The road will be widened, with eight-foot shoulders added, large enough to accommodate a bike lane, and vehicle recovery areas added. In addition, five wildlife underpasses and two wildlife overpasses would be built, with fences to direct wildlife to the crossings.
Jones' Blue Valley Ranch is located outside of Kremmling.
"Almost daily we witness collisions between wildlife, cars and trucks out on Highway 9," Perry Handyside, who manages Jones' ranch, said. "We decided we had to step forward and help."
Local governments in the area still need to raise $4.3 million for the $46 million project.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…