john arnold centaurus

British doctor Ben Goldacre also got an email from the Arnold Foundation in 2013. He and a graduate student were developing an online system that would allow researchers to keep a public log of the experiments they were running, where they could register their hypotheses, methods, workflows, and data as they worked. [37] He proposed that foundations and DAFs should spend at least 7% annually, which would result in billions of dollars more being given to charities,[30] and that DAFs should be legally held to an annual minimum distribution. But what ought to concern conservatives isnt so much the Arnolds giving as how they give. Donald Trumps real net worth? Laura and John Arnold have a net. In 2019, the Arnolds announced they were switching their philanthropy from its current modela private foundation, 501(c)(4) nonprofit, and a donor-advised fundto a single limited liability company (LLC). Updated: 12/31/2014 01:43 PM EST. It became one of the biggest science stories of the year. Centaurus Energy Master Fund LP, a Houston-based energy hedge fund that was founded by John D. Arnold after the collapse of Enron Corp., was fined $75,000 by the New York Mercantile Exchange . But when I visit the Arnold Foundations Houston headquarters in June, Laura has been called away on a family emergency, leaving John to do the talking. A hugely successful energy trader, Arnold once worked. Former Enron Corp. energy trader John Arnold is closing down his flagship Centaurus Energy Master Hedge Fund. The Arnolds are candid about this, telling the Chronicle of Philanthropy in a January 2020 interview that the goal is to change policies: We have never viewed our work and our philanthropy in terms of C3 versus C4. ISSN 1532-1231 Now He's Declared War on Bad Science. After graduating from Vanderbilt University he began his career as a trader at Enron. Weve always wanted to change policies. John Arnold is Founder and Co-Chair of Arnold Ventures. He . In a 2014 tweet, Harvard psychologist Daniel Gilbert referred to researchers who had tried and failed to replicate the findings of a senior lecturer at the University of Cambridge as shameless little bullies. After Nosek published the results of his reproducibility initiative, four social scientists, including Gilbert, published a critique of the project, claiming, among other things, that it had failed to accurately replicate many of the original studies. 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 . All told, the foundations Research Integrity initiative has given more than $80 million to science critics and reformers in the past five years alone. Having spent more than a decade picking apart nutrition science, Taubes soon found himself cofounding an organization with a substantial grant from the Arnold Foundation, to rebuild the study of obesity from the ground up. $2.5 billion, according to our most recent tally. In the name of social experimentation, in 2020 Arnold supported Oregon's referendum decriminalizing all drugs, which passed. Or is Wall Street just an easy target while cancer researchers and universities are not?, So its no surprise that, in practice, the Arnolds approach to giving has a lot in common with John Arnolds approach to investing. 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. He announced that he was closing Centaurus in a letter to investors: After 17 years as an energy trader, I feel that it is time to pursue other interests., Arnold tells me that he had lost some of his passion for trading. Rank: 590. Arnold is a board member of Breakthrough Energy Ventures. It Depends On Who You Talk To", "How we Ranked Forbes 400 based on their giving", "Dog The Bounty Hunter Joins Lawsuit Against Chris Christie Over Bail Reform", "June Rodgers v. Christopher Christie, No. He was widely quoted for his viewpoints on the industry by a government commission. Arnold was raised in Dallas, Texas, and he was the younger of two sons. On the top of that list was the energy trading legend that is John Arnold. But consider the ramifications of a Soros Ventures, or Steyer Ventures, or Buffett Ventureslimited liability companies that could field virtually unlimited resources to lobby on foreign policy, abortion rights, illegal immigration, or health care, with almost no public transparency. In 2007, Arnold became the youngest billionaire in the U.S.[1] His firm, Centaurus Advisors, LLC, was a Houston-based hedge fund specializing in trading energy products that closed in 2012. His ~$3 billion fund, Centaurus, was down 4% in 2010 YTD, according. Were looking to create an organization of thoughtful failure and fantastic success., If John Arnold does have an identifiable ideology, it is that of a lifelong trader and quant: unsentimental, metrics-focused, interventionist. 171 on Forbes list. Hes nowhere near as rich as he boasts, nor as poor as his critics claim. 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,. |, Related topics: Hide Background LAURA AND JOHN ARNOLD FOUNDATION Family foundations (The foundations funding of the Nutrition Science Initiative is now scheduled to end in November.) Without [44][45], Arnold has been accused of pushing for pension reform in response to a lawsuit the California state pension system, CalPERS, filed against Enron. Former The breakthroughs and innovations that we uncover lead to new ways of thinking, new connections, and new industries. Centaurus Advisors Awards & Accolades. Capital Research Center (CRC) was established in 1984 to promote a better understanding of charity and philanthropy. Arnold Ventures is a group of more than 100 passionate people from all walks of life who feel a deep urgency to help people in need. Fortune magazine has called him one of the least-known billionaires in the country. The aim was to redo about 50 studies from three prominent psychology journals, to establish an estimate of how often modern psychology turns up false positive results. That way, it would be harder for them to go back and cherry-pick their sexiest data after the factand easier for other researchers to come in and replicate the experiment later. Why he started his own firm energy trading firm, Centaurus Advisors, and why he ultimately hung it up as a trader to focus all of his energy on philanthropy. John Arnold: The most prolific philanthropist you may not have heard of. Centaurus, which started in 2002 with just a handful of traders and now has 70 employees, focuses on this virtual kind of trading. Gregg Fleisher, who taught him calculus in high school, recalls an occasion when Arnold instantly solved a math puzzle that had been known to stump PhDs. But in July 2012, Nosek received an email from an institution whose name he didnt recognize: the Laura and John Arnold Foundation. Billionaire philanthropists John and Laura Arnold committed Monday, April 5, 2021, to donate 5% of their wealth annually as part of an effort to . Hockey cards didnt have much of a market in Texas, he tells me. Because investigating and replicating research begins with having the data and materials necessary to do so, he is particularly focused on making science more transparent. The philanthropys core mission is to invest in evidence-based solutions that maximize opportunity and minimize injustice. His estimated net worth is $3.3 billion as of writing. In a glass conference room at the Arnold Foundations officeswhich occupy the same space as the old Centaurus trading floor, a 15-minute drive from the glass tower whose entrance was once adorned with Enrons famous EArnold explains that his and Lauras initial plan had been to simply locate the most effective organizations and write them checks. Written. Whether all this momentum will lead to transformational change decades from now is impossible to know. In the sciences, one is mostly incentivized to publish journal articles, and especially to publish the sorts of attention-grabbing and controversial articles that get widely cited and picked up by the popular media. We can feed off that. Figuring out exactly which rewards work best and how to simultaneously change the incentives for researchers, institutions, journals, and funders is now a key area of interest for Goodman and Ioannidis. View Subscription Options Laura and John Arnold, Houston $285 million. Centaurus will be returning capital to investors, according to a Reuters report. Arnold founded Centaurus with an $8 million employee bonus from Enron. Nosek says that the cash offers were Arnolds idea. The United States is almost alone worldwide in granting tax deductions for charitable donations (Sweden also enacted such a policy in 2019), which were established with the Revenue Act of 1917. Sam Apple (@samuelapple) teaches science writing at the University of Pennsylvania. All Rights Reserved. [51] They have three children. Hayden Ludwig is the Director of Policy Research at Restoration of America. [1], A 1995 graduate of Vanderbilt University, he completed a degree in mathematics and economics in three years. Joseph (Rusty) Walter III and Paula Walter . People who did, didnt know how to clean it up and analyze it as well as we did.. [23] Other multi-million gifts followed to other education programs, for example to Washington, D.C. city schools for merit pay, to Teach for America, and to StudentsFirst. In 2011 the science journalist Gary Taubes received an email from Arnold himself. (Its also the way politics and charity are meant to be kept separate and distinct, by the way.) [25][1] The organization was founded in 2010. It completely transformed what we could imagine doing, Nosek says. Musicians from the New York Philharmonic geek out about their favorite John Williams scores. The extent of that individuals ability to freely support causes may be magnified by using an LLC instead of a nonprofit, but it also further blurs the already faded line between philanthropy and politics. In Charlottes Biggest Labor Protest In Two Decades, 450 American Pilots Decry Slow Pace Of Contract Talks, Yellen Urges Congress To Raise Debt Limit Immediately, Warning U.S. Could Run Out Of Money By June, Singer Kelly Lang Reflects On Music, Battling Cancer & Her Friendship With Olivia Newton-John, E.J. 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. 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. When former Enron trader and Texas billionaire John Arnold donated more than $1 million to a November 2014 initiative to reform the public pension system in . Ask a Question. Foerster and Marny Eng and musician John Oates on the way that music and imagery can combine to drive narrative, the dramatic heart at the core of the new independent comedy/drama 'Gringa' and the level of difficulty involved in post-pandemic independent film distribution. 1.800.427.5747 From the little I know about the science of nutrition, your study makes a lot of sense, Arnold wrote. A guy such . He started working at Enron four days later. By law, natural gas pipelines had to make much of their information public, and around the time Centaurus was forming, more of that information began to appear online. Unlike Tom Steyer, a billionaire who earned his wealth investing in oil and natural gas and now hypocritically blames those commodities for devastating the planet, John Arnold says little about climate change. It became extraordinarily frustrating.. Aiming to defend the science behind the guidelines, McGovern suggested that the doubts that had been cast over Americas nutrition science were being driven by a former Enron executive. I dont know what Enron knows about dietary guidelines, McGovern said. But compared with the benefit of near-total anonymity, wealthy elites like the Arnolds are forgoing the tax advantages of a foundation or traditional nonprofit to further withdraw from public scrutiny. Centaurus Advisors. Like Tom Steyer, George Soros, and a number of other mega-donors on the Left, John Arnold earned his vast wealth as a hedge fund investor. Of course, this new LLC model comes with the cost of losing the Arnold Foundations tax exemption. [49], Arnold is married to Laura Elena (Muoz) Arnold. By all accounts, Laura, who attended Harvard College and Yale Law School and worked as an oil executive, has been equally influential in setting the direction for the foundation. More than $10 million more in Arnold Foundation grants have come since. Arnold estimates that he made $50,000 before he finished high school. In 2008, the young trader is among the top three traders who earned the most money, his salary amounted to $ 1.5 billion. Bothersome bureaucracy notwithstanding, tax exemption and tax deduction are tangible benefits that acknowledge that compact. Click here to request a free trial. Whole Arnold has said that the first phase of his life was 100 percent trying to make money and that its now 100 percent trying to do good.. But about an hour in, Massachusetts representative Jim McGovern leaned into his microphone. Insofar as the LLC form allows donors to treat the categories as just so many rooms for a tiresome accounting game of hide-and-seekthe view that Arnold seems to take herewe may come to regret the growing popularity of that form among those with the largest appetites for change. The tech giant is helping researchers and clinicians decipher vast amounts of data generated by people with persistent symptoms. [23] Arnold has also given to The City Fund, an organization focused on growing the number of charter schools in the USA, and its political arm, Public School Allies. John E. Murray (1959-2018) wasnt famous like Ludwig von Mises, F.A. Its a stupid little badge, Nosek says, but it works. By the following year, Nosek was cofounding an institution called the Center for Open Science with an initial $5.25 million grant from the Arnold Foundation. 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. The preceding news reportmay not be republished or redistributed, in whole or in part, in anyform, without prior written consent of Intelligence Press, Inc. 2023 Natural Gas Intelligence. [20][21] Arnold announced his retirement from running the hedge fund on May 2, 2012. For one thing, the problems plaguing scientific research are now increasingly well known. In the past ten years, we have achieved more success than I could have hoped for or imagined. Far from simple charity, thats a recipe for plutocracy. The more you read the research, the less you know, Arnold says. By 2009, Centaurus was managing over $5 billion and had more than 70 employees. All these things that we thought we knewwhen we step back and look at the evidence baseits just not there., Rolling Stone called Arnold a young right-wing kingmaker with clear designs on becoming the next generations Koch brothers.. FORTUNE magazine once dubbed Arnold one of the least-known billionaires in the US. His profile in the public consciousness is almost nonexistent, and he rarely gives interviews. However, after 17 years as an energy trader, I feel that its time to pursue other interests, Arnold wrote to investors in a letter obtained by NGI. [29] The Foundation is focused on evidence-backed giving for systematic change. Consent As far as big dollar donors go, John Arnold and his wife, Laura, are not well known to conservatives. Billionaire John Arnold pushes for charity reform. Nonprofits are very good at reporting their success rates and citing the science behind their interventions, but dig into their claimsas the Arnolds would try to doand you find that they often omit relevant context or confuse correlation with causation. 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. Hardly anyone in the world of nutrition science seemed willing to question the science behind the low-fat diet, even after Americans grew fat and diabetic in record numbers. Denis Calabrese, the Arnold Foundations president, says they dont expect immediate results. World No. In 2012, after growing his firm, Centaurus Advisors, from an initial $8 million to $5 billion in less than a decade, he announced that he was walking away to pursue other interests.

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