Robin Hood Raises $60 Million to Fight Poverty in New York City

Robin Hood Raises $60 Million to Fight Poverty in New York City

The Robin Hood Foundation has announced that it raised a total of $60 million at its annual benefit earlier this week to fight poverty in New York City.

The funds raised include $35 million for the newly launched Robin Hood American Dream Fund, which will support nonprofit organizations working to help immigrants and their families gain the skills and resources they need to succeed economically in America. Contributions to the fund, which was launched with $5 million challenge grants from the Pershing Square Foundation and an anonymous donor, included $5 million from benefit co-chair and Robin Hood board member David Tepper, his charitable foundation, and his Appaloosa Management hedge fund, along with a matching grant of $5 million to assist organizations helping immigrants in New Jersey.

Other benefit co-chairs included Amazon.com founder and CEO Jeff Bezos and his wife, MacKenzie; Brevan Howard Asset Management co-founder Alan Howard and his wife, Sabine; and Michael Strahan, co-host of ABC's Live! With Kelly and Michael. The total amount raised was down from the $80.5 million raised at last year's benefit, which celebrated Robin Hood's twenty-fifth anniversary.

"Currently, more than 1.8 million of our neighbors live in poverty, and nearly half of those individuals are people who came here from all over the world in search of a better life," said Robin Hood executive director David Saltzman. "These people lend their skills, talents, vitality, and diversity to New York — making it unlike any other city on the planet — and thanks to our generous donors, we will continue to do all we can to help them achieve their American Dream."