Net Net: Promoting innovation and managing change
Net Net: Promoting innovation and managing change

Mystery $13 billion philanthropists revealed

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A trio of hedge fund managers have secretly directed one of the largest pools of philanthropic capital for years, undetected by design.

A new investigation by Bloomberg News has revealed who the men are and the astounding sum they have committed to charity: more than $13 billion.

Andrew Shechtel, David Gelbaum and C. Frederick Taylor are co-founders of low-profile hedge fund firm TGS Management, which uses computer algorithms to invest, a so-called "quant" strategy. Gelbaum is now retired.

The men went to great lengths so that their support of human rights, the environment, and disease research remained anonymous, using a web of trusts and lawyers to hide their names.

All declined to comment to Bloomberg News.

Read the full report here.