Robin Hood Raises $54.5 Million to Fight Poverty in NYC

Inspired in part by its incoming president and a $15 million challenge grant from hedge fund billionaire Ken Griffin, Robin Hood (formerly the Robin Hood Foundation) raised $54.5 million during its most recent gala event, Bloomberg reports.

The annual event in New York City is one of the largest fundraisers in the country for any cause and draws a powerful mix of Wall Street titans, politicians, nonprofit innovators, and celebrities. New York governor Andrew Cuomo, former Florida governor Jeb Bush, and financiers Lloyd Blankfein and Henry Kravis were among the thirty-seven hundred guests in attendance.

Robin Hood, the largest poverty-fighting organization in New York City, will use the funds to strengthen grantee organizations, seed new ventures, and facilitate partnerships focused on issues such as homelessness and job training.

"It's inspiring to see this many people come together to focus on poverty, but really poverty is the wrong choice of word," Griffin told Bloomberg. "We're here to focus on the people struggling to make ends meet. An enormous amount of people here came from trying circumstances."