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Person

Michael Novogratz

Nationality:

American
Political Party:

Democratic Party
Occupation:

CEO of Galaxy
Residence:

New York, New York

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Michael “Mike” Novogratz 1 is an investment banker and technology entrepreneur who is a major contributor to Democratic Party-aligned candidates and committees. 2 In 2020, Novogratz contributed $200,000 in support of the presidential campaign of Joe Biden (D). 3

Novogratz has argued that the American criminal justice system is unfair, unjust, mean-spirited, and a scourge on democracy. 4 He is a founding partner of the left-of-center criminal justice activist organization REFORM Alliance 5 and sits on the board of the Bail Project, which opposes cash bail. 6 7 8

Novogratz has also supported dozens of state-level Democratic Parties and left-of-center organizations including Movement Voter PAC, 9 Defeat by Tweet, Serve America PAC, With Honor Fund, Forward Majority Action, Democratic Senatorial Campaign Committee, and Democrats for Education Reform. 10

Career

Michael “Mike” Novogratz 11 is an investment banker and technology entrepreneur who is a major contributor to Democratic Party-aligned candidates and committees. 12

Novogratz is the founder and co-chair of the left-of-center philanthropy Galaxy Gives, which he and his wife founded in 2017 to end cash bail and what Novogratz calls mass incarceration in New York City. In support of this project, Novogratz argues for justice, accountability, and healing both for the perpetrator and victim of the crime. 13 The organization also supports get-out-the-vote programs for left-leaning organizations and supports the concept of “democracy reform.” 14

Novogratz is also the CEO of cryptocurrency and digital investment firm Galaxy Investment Partners. Prior to starting his own firm, Novgratz worked at global investment firm Goldman Sachs in Asia and Latin America. 15

Novogratz has argued that the American criminal justice system is unfair 16 and has called American criminal justice “unfair, unjust, mean-spirited, and a scourge on our democracy.” 17 Novogratz is a founding partner of the left-of-center criminal justice advocacy organization REFORM Alliance 18 and on the board of the Bail Project, which opposes cash bail and pays bail for those in jail as an “act of resistance.” 19 20 21

In 2020, Novogratz was a panelist at the South by Southwest (SXSW) conference regarding the critical race theory-influenced concept of systemic racism and the far-left Black Lives Matter movement. 22

In 2010, Novogratz was appointed by then-Governor David Paterson (D-NY) to sit on the Hudson River Park Trust board of directors. 23

Political Contributions

Michael Novogratz has made numerous Federal Election Commission-reportable contributions in support of Democratic Party-affiliated candidates, campaign committees, and causes. 24 In June 2020, he contributed $200,000 to the Biden Action Fund in support of then-presidential candidate Joe Biden (D). 25

Novogratz has supported the Democratic National Committee and the state Democratic Parties in Alaska, Delaware, Georgia, Idaho, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota,  Mississippi, Missouri,  Montana, New Hampshire, New Mexico, New Jersey, North Carolina, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Wisconsin, and Wyoming. 26

He has supported left-of-center organizations including Resist this PAC, Movement Voter PAC, 27 Accountability Virginia PAC, Defeat by Tweet, Serve America PAC, With Honor Fund, Forward Majority Action, Jobs Opportunities and Education PAC, New Millennium PAC, Democratic Senatorial Campaign Committee, and Democrats for Education Reform. 28

He has also supported the unsuccessful 2016 presidential campaign of Hillary Clinton (D), the unsuccessful 2016 presidential campaign of Jeb Bush (R), 29 and the 2012 re-election campaign of President Barack Obama. 30 At the Congressional level, Novogratz has previously supported of U.S. Senators Cory Booker (D-NJ), Kristen Gillibrand (D-NY), Bob Menendez (D-NY), Chuck Schumer (D-NY), Raphael Warnock (D-GA), Mark Warner (D-VA), Ron Wyden (D-OR), and former U.S. Senator Mark Begich (D-AK). 31 He has also supported the unsuccessful campaigns of Amy McGrath (D-KY), Cameron Webb (D-NY), State Senator Alessandra Biaggi (D-NY), and the U.S. Senate campaign of U.S. Rep. Joe Kennedy III (D-MA). 32

References

  1. “Twitter Profile.” Mike Novogratz Twitter. Accessed June 10, 2023. https://twitter.com/novogratz.
  2. Anderson, Lincoln. “A ‘master of the universe’ will wrestle with Pier 40 and park.” The Villager. Vol. 80, No. 5 June 30-July 6, 2010. Accessed via Web Archive June 9, 2023. https://web.archive.org/web/20100704220511/http://thevillager.com/villager_375/amasteroftheuniverse.html.
  3. Clifford, Tyler. “Crypto investor Novogratz hopes for ‘open-minded’ regulators in Biden administration.” CNBC. December 24, 2020. Accessed June 10, 2023. https://www.cnbc.com/2020/12/24/crypto-investor-novogratz-hopes-for-open-minded-regulators-under-biden.html.
  4. [1] “Novogratz: Our criminal justice system is unfair.” CNN Business. October 22, 2019. Accessed June 10, 2023. https://www.cnn.com/videos/business/2019/10/11/michael-novogratz-prison-reform-pell-grants-firstmove-intv-chatterley.cnn
  5. “Mike Novogratz.” Galaxy Gives. Accessed June 9, 2023. https://www.galaxygives.com/team/mike-novogratz.
  6. “Michael Novogratz.” Reform Alliance. Accessed June 10, 2023. https://reformalliance.com/meet-reform/michael-novogratz/.
  7. “Michael Novogratz.” LinkedIn Profile. Accessed June 9, 2023. https://www.linkedin.com/in/michael-novogratz-5217687a/.
  8. “The Bail Project.” LinkedIn Profile. Accessed June 12, 2023. https://www.linkedin.com/company/the-bail-project/.
  9. “Individual Contributions.” Federal Election Commission search results for Michael Novogratz. Accessed June 9, 2023. https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=michael%20novogratz.
  10. “Individual Contributions.” Federal Election Commission search results for Michael Novogratz. Accessed June 9, 2023. https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=michael%20novogratz.
  11.  “Twitter Profile.” Mike Novogratz Twitter. Accessed June 10, 2023. https://twitter.com/novogratz.
  12. Anderson, Lincoln. “A ‘master of the universe’ will wrestle with Pier 40 and park.” The Villager. Vol. 80, No. 5 June 30-July 6, 2010. Accessed via Web Archive June 9, 2023. https://web.archive.org/web/20100704220511/http://thevillager.com/villager_375/amasteroftheuniverse.html.
  13. “About.” Galaxy Gives. Accessed June 9, 2023. https://www.galaxygives.com/about-us.
  14. Michael Novogratz and William Watterson. “It’s Time for the Gerontocracy to Retire | Opinion.” Newsweek. January 25, 2023. Accessed June 9, 2023. https://www.newsweek.com/its-time-gerontocracy-retire-opinion-1775921.
  15. Anderson, Lincoln. “A ‘master of the universe’ will wrestle with Pier 40 and park.” The Villager. Vol. 80, No. 5 June 30-July 6, 2010. Accessed via Web Archive June 9, 2023. https://web.archive.org/web/20100704220511/http://thevillager.com/villager_375/amasteroftheuniverse.html.
  16. “Novogratz: Our criminal justice system is unfair.” CNN Business. October 22, 2019. Accessed June 10, 2023. https://www.cnn.com/videos/business/2019/10/11/michael-novogratz-prison-reform-pell-grants-firstmove-intv-chatterley.cnn.
  17. “About.” Galaxy Gives. Accessed June 9, 2023. https://www.galaxygives.com/about-us.
  18. “Mike Novogratz.” Galaxy Gives. Accessed June 9, 2023. https://www.galaxygives.com/team/mike-novogratz.
  19.  “Michael Novogratz.” Reform Alliance. Accessed June 10, 2023. https://reformalliance.com/meet-reform/michael-novogratz/.
  20. “Michael Novogratz.” LinkedIn Profile. Accessed June 9, 2023. https://www.linkedin.com/in/michael-novogratz-5217687a/.
  21. “The Bail Project.” LinkedIn Profile. Accessed June 12, 2023. https://www.linkedin.com/company/the-bail-project/.
  22. “Engaging the 99%: The Future of Justice Reform.” SXSW Panel Picker. Accessed June 10, 2023. https://panelpicker.sxsw.com/vote/108978.
  23. Anderson, Lincoln. “A ‘master of the universe’ will wrestle with Pier 40 and park.” The Villager. Vol. 80, No. 5 June 30-July 6, 2010. Accessed via Web Archive June 9, 2023. https://web.archive.org/web/20100704220511/http://thevillager.com/villager_375/amasteroftheuniverse.html
  24. “Individual Contributions.” Federal Election Commission search results for Michael Novogratz. Accessed June 9, 2023. https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=michael%20novogratz.
  25. Clifford, Tyler. “Crypto investor Novogratz hopes for ‘open-minded’ regulators in Biden administration.” CNBC. December 24, 2020. Accessed June 10, 2023. https://www.cnbc.com/2020/12/24/crypto-investor-novogratz-hopes-for-open-minded-regulators-under-biden.html.
  26. “Individual Contributions.” Federal Election Commission search results for Michael Novogratz. Accessed June 9, 2023. https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=michael%20novogratz.
  27.  “Individual Contributions.” Federal Election Commission search results for Michael Novogratz. Accessed June 9, 2023. https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=michael%20novogratz.
  28. “Individual Contributions.” Federal Election Commission search results for Michael Novogratz. Accessed June 9, 2023. https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=michael%20novogratz.
  29.  “Individual Contributions.” Federal Election Commission search results for Michael Novogratz. Accessed June 9, 2023. https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=michael%20novogratz.
  30. “Individual Contributions.” Federal Election Commission search results for Michael Novogratz. Accessed June 9, 2023. https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=michael%20novogratz.
  31. “Individual Contributions.” Federal Election Commission search results for Michael Novogratz. Accessed June 9, 2023. https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=michael%20novogratz.
  32. “Individual Contributions.” Federal Election Commission search results for Michael Novogratz. Accessed June 9, 2023. https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=michael%20novogratz.
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