Fast-forward 11-years later to May of 2012, at the age of 38 Arnold announced his retirement to his staff at his New York hedge fund, explaining his decision to 'pursue other interests.'
His 'other interests' he’d soon reveal: Philanthropy.
That October, Arnold - who was never accused in the corruption at Enron - closed his hedge fund, Centaurus Energy, and focused strictly on giving back the billions he had made over the years trading natural gas.
humbling letter explaining his decision. 'We consider it our responsibility to ensure the same opportunities for others.'
'We have more than ample resources to be good providers for our family and mentors to our children, and we have a lifestyle that is comfortable and then come,' he said in a Prior to his leave Arnold and his wife, Laura Arnold, a lawyer, established the Laura and John Arnold Foundation in 2008, a philanthropic organization that's today worth a reported $1.3 billion.
The Arnolds have already given away more than $1.2 billion to charity, Forbes reports, and don't plan on stopping there.
Giving back: In 2010 John Arnold and his wife Laura signed the Giving Pledge vowing to dedicate the majority of their wealth to philanthropy and have already given $1.2 billion according to Forbes
They join similar pledges made by Warren Buffett, Bill Gates, Mark Zuckerberg and Elon Musk.
'We started to do our own research, trying to go to websites to read about nonprofits. We realized we got much more insight by speaking to the founder,' Mr Arnold explained to Forbes last year.
'If you have significant resources, it’s worth their time to sit down and meet a particular funder but that’s not always practical for the majority of funder or nonprofits,' he said.
The Arnolds currently reside in Houston, Texas, where they live with their three children
Laura and John thankyou fo your genuine, and sincere approach to giving.
ReplyDeleteIn a world run by those who practice "Efficiancy in Philanthropy" (the practice of giving only in the hope of generating at least a 2 dollar profit for every dollar given) any benevolant efforts toward public health is truely wonderful.
Again, thank you both and God bless you , always. Sincerely,Joseph A. Juarez,III