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  • Steinhardt lost $2 million in Madoff scandal

    After initially telling the Fundermentalist that he had no money invested with Bernard Madoff, philanthropist Michael Steinhardt told Bloomberg Wednesday that he actually lost $2 million that he had invested with J. Ezra Merkin’s Ascot Partners. Ascot, Merkin’s hedge fund, lost its entire $1.8 billion in assets with Madoff. From Bloomberg: “He never told me… More ▸

  • Aronson resigns as CEO of Detroit Federation

    Robert Aronson is resigning as CEO of the Jewish Federation of Metropolitan Detroit, according to the Detroit News. Aronson, who informed the board of directors that he will resign within the year, has served as the head of the federation for 20 years, but his resignation doesn’t come as a total surprise. Late last year,… More ▸

  • Broad Foundation to give $400 million to Harvard-MIT venture

    If you needed further proof that Jewish mega-donors trend toward giving to higher education, check out this scoop from the Chronicle of Philanthropy: “Eli and Edythe L. Broad will announce this morning that they are pledging $400-million to endow the Broad Institute of Harvard and MIT, in Cambridge, Mass., a biomedical-research center that is jointly… More ▸

  • Birthright cries poverty; Steinhardt says it is no ploy

    Birthright Israel has become the latest of the Israel-oriented organizations to cry poverty because of the falling dollar, the Jerusalem Post reported Monday. Since 2000, the program has taken some 200,000 Jews between the ages of 18-25 on free trips to Israel. With the dollar worth about 30 percent less against the shekel than it… More ▸

  • Steinhardt says economy will continue to tank

    Michael Steinhardt may have gotten out of the hedge fund business 13 years ago, but the financial pubs still take his thoughts on the market to heart. On Tuesday the investor turned full time philanthropist told Bloomberg News that he thinks we have not seen the worst of the bear market yet. “There are genuine,… More ▸

  • Olmert takes advantage of Birthright mega event

    One night of fireworks. Renting an amphitheater for 7,500. One staged shtick that involves a helicopter display. A hundred member dance troupe. Cost: Somewhere around a few hundred thousand dollars, according to the head of the Birthright Israel foundation, Jay Golan. Watching one Israeli prime minister currently in the political gallows for alleged underhanded dealings… More ▸

  • Beilin to the Fundermentalist: Birthright was my idea

    I’m here in Israel officially on a UJC-sponsored media mission to Sderot and Ashkelon. But the mission to the rocket-pecked areas on Israel’s border with Gaza doesn’t officially start until Monday night, so the Fundermentalist has been looking for Funder-fun. Sunday night, I ended up at the Taglit-Birthright mega event, the gathering of several thousand… More ▸