The Druckenmiller Foundation is a grantmaking foundation created by Stanley Druckenmiller, a retired billionaire hedge fund manager who worked as the lead portfolio manager for billionaire George Soros’s Quantum Fund during the 1990s. Druckenmiller left Soros Fund Management in 2000 to manage his own hedge fund, Duquesne Capital Management.
Druckenmiller and his wife, Fiona, established the Druckenmiller Foundation to promote medical research, education, and to fight poverty, especially among youth. While Druckenmiller is known to be a political supporter of moderate Republicans. Despite this, the foundation has supported some left-of-center organizations, notably environmentalist and conservationist charities.
A retired hedge-fund manager of 30 years, Stanley Druckenmiller is worth approximately $4.8 billion, as of December 2018. From 1988 through 2000, Druckenmiller worked with George Soros to oversee the Quantum Fund. Whilst working for Soros, Druckenmiller says that he was “highly influenced” by Soros’s philanthropy, matching employee giving four to one. Druckenmiller then went to manage Duquesne Capital Management, where he enjoyed great success, with a 30 percent average annual return and no net financial loss years. Duquesne Capital Management was divested in 2010.
Stanley Druckenmiller, along with his wife Fiona, established the Druckenmiller Foundation in 1993. In 2009, the couple announced a personal donation of $705 million to the Foundation. According to one profile, “the Chronicle of Philanthropy recognized the Druckenmillers as the most charitable couple in America for 2009.”
Druckenmiller is known to be politically active, backing the presidential campaigns of moderate Republicans Chris Christie (NJ), Jeb Bush (FL), and John Kasich (OH). During the 2018 midterm elections, Druckenmiller donated a total of $152,300 to Republican candidates and none to Democrats.
The Druckenmiller Foundation generally funds efforts to fight poverty, promote medical research, and support education. However, the foundation has also supported left-leaning environmentalist causes.
Efforts to combat poverty include $91.3 million gifted between 2011 and 2015, to the Harlem Children’s Zone, of which Stanley Druckenmiller is chairman. The Foundation operates the Oakmont Scholarship, which provides scholarships of $10,000 or under to 20-30 students annually, who have caddied at the Oakmont Country Club. College Summit, a Washington, D.C. nonprofit, has received $3.2 million from the foundation.
The Druckenmiller Foundation regularly provides grants to educational public charities and major institutions, including prominent universities. From 2011 to 2015, Stanford University received $31.1 million, Brown University received $15 million, and Bowdoin College also received $15 million from the foundation. The Spence School, an all-girls private primary and secondary school in New York City, received $8.35 million in grants during the same period.
Investments in medical research, include a $100 million gift to establish the Langone Medical Center at New York University. The foundation provided grants totaling $5.75 million to the New York Stem Cell Foundation from 2011 through 2015, and has supported the Annual Druckenmiller Neuroscience Symposium. The Memorial Sloan Kettering Cancer Center received $9.3 million from the foundation between 2011 and 2015.
Funding for Left-Leaning Groups
The Foundation is known to have provided funds for environmentalist and conservationist groups, including providing $7.2 million in grants to the Environmental Defense Fund over three years, $300,000 to the Cape Eleuthera Institute over two years, $100,000 to the National Fish and Wildlife Foundation, and $100,000 to the Everglades Foundation.