We look forward to keeping you informed. Form World No. FILE - In this Aug. 5, 2009, file photo, John Arnold, then head of the hedge fund Centaurus Advisors of Houston, testifies before the The Commodity Futures Trading Commission in Washington, D.C. (Arnold was not involved in the fraud.) In 2019, William Schambra, co-editor of The Giving Review and a senior fellow at the Hudson Institute, pointed out that the field of 501(c)(3)s, 501(c)(4)s), and foundationsincluding their tax benefits as well as respective legal limitationsexists because they are ways weve chosen, as a democracy, to encourage and channel charitable giving and political activism. We circumvent them at our peril. A 2016 study to determine the effectiveness of the badges showed that the number of articles that reported publicly available data had increased tenfold. On the morning of October 7, 2015, the US House Agriculture Committee convened a hearing on the controversy surrounding the dietary guidelines, fueled by the BMJ article. ISSN 2577-9877 They have personally donated to numerous Democratic campaigns, the Democratic Partys leading congressional political action committee (House Majority PAC), and both of Barack Obamas presidential campaigns. But in July 2012, Nosek received an email from an institution whose name he didnt recognize: the Laura and John Arnold Foundation. Arnold founded Centaurus with an $8 million employee bonus from Enron. At Enron, a company famous for its brash, testosterone-laced cowboy culture, the perennially boyish-looking trader was reportedly so soft-spoken that his colleagues had to gather in close to hear him at restaurants. The Arnolds had already decided that, with decades of life ahead of them and almost unlimited resources, they had the time and money to evaluate charitable programs properly, even when that meant paying for expensive randomized controlled trials that could take years to complete. Theyve also lavishly supported the Reproducibility Project, a science reform group formed to combat the rise of politicized, ideologically driven junk science afflicting so much research, particularly in climate science. InfluenceWatch Podcast #267: Weingarten Will Not Be Apologizing. In the past ten years, we have achieved more success than I could have hoped for or imagined. John Arnold, the billionaire manager of the Houston hedge fund Centaurus Advisors, told investors and employees Tuesday that he plans to retire, according to people familiar with the . John Arnold President Houston, Texas, United States 12 followers Join to view profile Centaurus Capital Experience President - President Centaurus Capital View John's full profile See who. [38], In 2020, Arnold was one of ten billionaires who had given away at least 20% of their wealth. And in 2015 the Arnold Foundation paid journalist Nina Teicholz to investigate the scientific review process that informs the US Dietary Guidelines. John Arnold shocked the hedge fund world in 2012 when, at just 38 years old, he announced he would no longer manage other people's money. Facebook founder Mark Zuckerberg and his wife, Priscilla Chan, launched a similar LLC (the Chan-Zuckerberg Initiative) in 2015, with Zuckerberg transferring some 99 percent of his shares in the social media company to the LLCan amount reportedly exceeding $45 billion. In 2011 the science journalist Gary Taubes received an email from Arnold himself. All Rights Reserved. [50] She was formerly a mergers-and acquisitions attorney in Houston, Texas, and an oil company executive. As co-founders, Laura and John actively engage in the organization's overall direction and daily execution. Media reports have declared the field of psychology, if not all of science, to be in a state of crisis. Much of the Arnolds philanthropy has funded causes favored by the Left, such as ranked-choice voting, litigation against supposed Republican gerrymandering in congressional maps, and the eco-Right, groups infiltrating the conservative movement with a left-wing global-warming agenda. Ludwig is a native of Orange County, California,. 1 manager, John Arnold, offers a tricky model to follow because he trades only energy futures, and my guess is he's a very short-term trader. NGI All News Access. In Wall Street circles Arnold, who is in his late 30s, has been known to some as the king of natural gas.. Updated: 12/31/2014 01:43 PM EST. Thirty-seven year old John Arnold, one of the world's youngest billionaires, had the worst year of his hedge fund career. But about an hour in, Massachusetts representative Jim McGovern leaned into his microphone. John Arnold got his start as a natural gas trader at Enron. His ~$3 billion fund, Centaurus, was down 4% in 2010 YTD, according. Those were the early days of the internet, and he managed to gain access to an online bulletin board intended only for card dealers. THE ARNOLDS had been dabbling in philanthropy for years, supporting a few handpicked programs in education, criminal justice reform, and other areas that were important to them. In Charlottes largest labor demonstration in two decades, about 450 American Airlines pilots protested the slow pace of contract talks near an entrance to Charlotte Douglas International Airport on Monday. In some cases, they may even have more favorable tax deductions when donating appreciable securities to a 501(c)(3) public charity. Philanthropy Is for the Living. She is co-founder of Arnold Ventures LLC. For one thing, the problems plaguing scientific research are now increasingly well known. John Arnold's tweet, "A new study shows " are "the four most dangerous words," is a perfect crystallization of the philanthropist's skeptical attitude toward a lot of scientific research. Not surprisingly, researchers who dont see a crisis in science have started to fight back. We are able to use resources in another structure. Arnold was raised in Dallas, Texas, and he was the younger of two sons. The legal reporting required for these categories, as annoying as it is, is how our democracy ensures that giving and political activity remain visible and accountable to the public. A guy such . Sign in to get the best natural gas news and data. I think I was just born with a natural gift for seeing numbers in a special way, he says. Says Goodman, Scientists really do want to discover things that make a difference in peoples lives. All rights reserved. The Center for Open Science's replication efforts have inspired economists and even tropical ecologists to plan reproducibility projects of their own. ioneer Ltd has gained a substantial shareholder in Centaurus Capital L.P, which now holds a 7.84% stake with more than 131.5 million shares.This status was reached after US-based Centaurus . The problem, they claim, isnt that scientists dont want to do the right thing. He was widely quoted for his viewpoints on the industry by a government commission. Centaurus Capital LP has committed around $500 million in equity for EOC Partners, according to the . Its a stupid little badge, Nosek says, but it works. [52], , "Centaurus scoops up National Coal shares", Institute for Clinical and Economic Review, "The Young Billionaire Behind the War on Bad Science", "John Arnold Is Said to Close Hedge Fund and Return Investor Money", "When a billionaire trader loses his edge - The Term Sheet: Fortune's deals blogTerm Sheet", "Houston billionaire trader John Arnold retiring at 38 - Houston Chronicle", "Legendary Energy Trader John Arnold to Retire", "Hedge Fund Billionaire John Arnold's Fund Was Up When He Announced He Was Getting Out", "Ex-Trader at Enron to Retire From Hedge Fund", New York Times: "CORPORATE CONDUCT: THE TRADER; Enron Trader Had a Year To Boast of, Even If" By DAVID BARBOZA, "A speculator who is in for the long haul", "Centaurus's John Arnold: The king of natural gas - Nov. 24, 2009", "Meet the Texas billionaire who backed Philly soda tax and now is funding attack ads in N.J. Senate race", "Smart trades that made this a good year for some", "Centaurus scoops up National Coal shares", "John D. Arnold's CFTC (U.S. Commodity Futures Trading Commission) speech", "Houston's World Cup bid adds a power player in John Arnold", "A Thirtysomething Billionaire Couple Take on Tough Issues Via Giving", "The City Fund has given out over $100 million to support charter and charter-like schools", How a billionaire couple greased the skids for Nancy Pelosis drug pricing bill, "Why this billion-dollar foundation is becoming a corporation", "Changemakers: The Leaders Reshaping Communities Around the World", "Two Texas Billionaires Think They Can Fix Philanthropy", "A Billionaire Pledges to Fight High Drug Prices, and the Industry Is Rattled", "Obscure Model Puts a Price on Good Healthand Drives Down Drug Costs", "How a Billionaire Couple Greased The Skids For Nancy Pelosi's Drug Pricing Bill", "Laura and John Arnold Foundation to Restructure as LLC", "Why one billionaire is calling out Silicon Valley's favorite philanthropic loophole", "Are Donor Advised Funds Good for Philanthropy? At its peak Centaurus managed some $6 billion before Arnold closed the fund and retired in 2012 at the age of 38, establishing the Laura and John Arnold Foundation with his wifea former oil executivesoon after. [30] The new entity is known as Arnold Ventures LLC with the charter "to remove barriers between data and decisive action, working swiftly across the policy-change spectrum. A year after that, at age 22, he was overseeing Enrons Texas natural gas trading desk, one of the companys core businesses. And though the fund bounced back the next year, tighter regulations on trading and a far less volatile marketthanks to a growing supply of natural gas from shale rockmade it unlikely that Arnold would again see the astonishing returns of only a few years earlier. John Douglas Arnold (born 1974) is an American philanthropist, former Enron executive, and founder of Arnold Ventures LLC, formerly the Laura and John Arnold Foundation. But now they were widening their scope. Subscribe now. As Enron neared bankruptcy, executives scrambled to hold its operation together, offering bonuses to keep traders on board. John Arnold, a highly successful energy trader at 38 years old, earned $750 million after Enron, the company he worked for had . Billionaire John Arnold pushes for charity reform. It wasnt long before Arnold had the answer to his doubts. The next year the Arnolds promised $35.5 million more. Prior John Arnold is Founder and Co-Chair of Arnold Ventures. Arnold Ventures will likely fund the same formula of political and charitable causes that the Arnold Foundation supported. Famous in England as a sharp-witted scourge of bad science, Goldacre spent years building up a case that pharmaceutical companies, by refusing to reveal all their data, have essentially deceived the public into paying for worthless therapies. The skeletal software behind the data-sharing project became a slick cloud-based platform, which has now been used by more than 30,000 researchers. In May 2012, John announced his retirement from Centaurus Energy to concentrate on philanthropic activities. By the time he was 14, Arnold was running his first company, selling collectible sports cards across state lines. Form 990s and Section 501(c) of the U.S. Tax Code were created in 1954, followed by rules governing private foundations in 1969.
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