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Modern-day Robin Hood Applies Business Skills to Philanthropy

Modern-day Robin Hood Applies Business Skills to Philanthropy
Wall Street hedge fund manager and billionaire Paul Tudor Jones started the Robin Hood Foundation 25 years ago to inspire wealthy donors to give money to help impoverished New Yorkers. Since then, the charity has raised more than one and a quarter billion dollars.

Ask Wall Street bankers the net worth of hedge fund manager Paul Tudor Jones, and they'll tell you, $3.6 billion. But ask a homeless child or a struggling family and they'll tell you that a spreadsheet is no way to measure a man.

Mr. Jones wondered why, if billionaires, like him, are such geniuses, do nearly two million people in New York City live in poverty? In 1988, he started a charity called the Robin Hood Foundation. Twenty five years later, Robin Hood has given away more than one and a quarter billion dollars.

(WATCH the video from 60 Mins, or READ the story from CBS News)

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