Robin Hood Gala Raises More Than $56.5 Million In One Night

The Robin Hood Foundation's annual gala, which collects millions of dollars from hedge-fund managers and gives it to New York charities, raised more than $56.5 million, the organizers estimated last night.

The lavish event in the cavernous Jacob K. Javits Convention Center attracted about 3,700 Wall Street executives and leaders from hedge funds and private-equity companies. The attendees included Kohlberg Kravis Roberts & Co. co-founder Henry Kravis and Pequot Capital Management Inc. Chairman Arthur Samberg. The performers included Shakira, John Legend and Sheryl Crow.

David Saltzman, Robin Hood's executive director, said in an interview at the Javits Center that the estimated total could be higher after all donations are counted as early as today. He said the evening's tally, at a time that banks are laying off staff, still showed an ``extraordinary'' display of generosity.

``Despite what's going on in the economy, people who are in a position to help others step up, and during tough times they step up even more,'' Saltzman said.

Read the whole story here.

Comments

[dadw5boys]

$56.5 MILLION FOR CHARITIES IN NEW YORK CITY?

So there will be no homeless people in and around New York ?

With $56.5 million you could buy a whole housing project and provide low or no cost housing tro some many.
Oh I forgot all those poor people who work for those NO PROFITS must be paid $100,000 a year salarys out of that.
Guess the poor will have to wait till the next recession huh.

[Loralei]

how about this? I'd like to get 5,000 people to donate $100 dollars, or 10,000 people to donate
$50 dollars...to me! (well, not really). I'm Tired of working for no pay, and by today's standard of living, with gas as much as it is...that's about it! But, at least I'm employed! that's a positive..
I would like to take my father on outings..but he's paralyzed from a stroke. He's a Navy WWII Seabee
and I'd like to have a vehicle to transport him around in. I have a van, but it's a challenge to get him
into it..well, it's hard for a gal to lift a 200+ man who's half paralyzed all by herself.
Well. Glad I could get that out. Where's my RobinHood??????????

[chromodynamics]

That amounts to more than $1600 per homeless person. Want to bet that none of them see a dime?

If you add up all the money spent on goodwill charity groups and divided it amongst the poor who really need the help, then no one would ever go hungry or or live on the street. But most charity groups depend on the poor as their business. If they truly lifted people out of poverty, then they'd be the ones in the breadline, out of work, and looking for a handout.

[dadw5boys]

Good Will stores are privatly owned and only give 10 % of the NET to the CHARITY. Of course they will not disclose they GROSS INCOME before they take out thier salarys.

Support the Salvation Army all their moeny goes to help people no advertizing of high salarys.

[swift_goat_pet_for_truth]

"What recession?"
What a stupid headline. I suppose we can look forward to more stupid headlines like this.

It is the New Gilded Age. Getting big bucks from zillionaires is easy. Getting 10 bucks from the middle class is hard. This money was chump change collected from zillionaires.

$1 mil from one of them is like me dropping a dime from my pocket.

[CaptainHowdy]

Yeah, HuffPo specialized in these sorts of stupid stories.

Hey look!!!! Rich people have money. There's not a recession after all.

[dadw5boys]

You missed the point. They will give a lot if your charity will throw them a big party and a free dinner, with a chance for them to dress up and go out with reporters covering their presence and their gifts.

THEY LIKE TO BE COTTLED AND WORSHIPED.