Druckenmiller Joins Zuckerberg's Immigration Reform Group

Jul 15 2013 | 9:55am ET

Duquesne Capital Management founder Stanley Druckenmiller is backing Facebook founder Mark Zuckerberg’s U.S. immigration reform campaign.

Druckenmiller, whose hedge fund delivered average annual returns of 30% from 1986 until he returned all outside money in 2010, becomes the first Wall Street veteran to contribute to the bipartisan advocacy group FWD.us.

In doing so, Druckenmiller joins a group of leading technology lights, including Microsoft Corp. Chairman Bill Gates and LinkedIn Corp. Executive Chairman Reid Hoffman, who have already contributed to FWD.us.

Founded earlier this year, Zuckerberg's group lobbied to help get a comprehensive immigration bill passed by the U.S. Senate on June 27.

“As a New Yorker, it is easy to appreciate the role immigration has played in making America the dynamic and competitive economy it has been throughout our history,” Druckenmiller said in an e-mailed statement. “I was pleased to see FWD.us and the tech community come together with a new and innovative approach to play a key role in helping push critical reforms through Senate passage.”

The Senate bill provides a path to citizenship for America's 11 million undocumented immigrants while also allocating $46 billion to border security. The bill actually achieved bipartisan support in the Senate, with 14 Senate Republicans helping Democrats pass it, but many House Republicans oppose the citizenship plan.


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.