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Person

Paul Tudor Jones

Nationality:

American
Occupation:

Tudor Investment Company, Robin Hood Foundation, Everglades Foundation

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Paul Tudor Jones is an American billionaire investor and philanthropist. He is the founder of the Tudor Investment Company and conducts his philanthropic work through the Robin Hood Foundation and Everglades Foundation.

Tudor Jones has historically supported both Republican and Democratic politicians, and has praised both President Donald Trump and Mayor Pete Buttigieg’s (D-South Bend, IN) presidential runs. He previously financially supported President Barack Obama, future Senator Mitt Romney (R-UT), and former New York Mayor Rudy Giuliani (R-New York City) in their presidential campaigns.

Tudor Jones is considered media-shy but has gained more public exposure due to his charity work since the 2010s. 1 He has faced increased scrutiny due to his former friendship with film producer and convicted sexual predator Harvey Weinstein. 2

As of September 2022, Tudor Jones had an estimated net worth of $7.5 billion. 3

Career

After graduating from the University of Virginia, Paul Tudor Jones began his career as a cotton commodity trader. In 1980, at age 26, he founded the Tudor Investment Company, a hedge fund focused on macro trading, particularly based on national currency and interest rate fluctuations. 4 On Black Monday in 1988, Tudor Jones made an estimated $100 million when the Dow Jones Industrial Average crashed 22 percent. 5 Two years later, his fund earned an 87.4 percent return by betting against the Japanese stock market. In 2001 to 2002, the fund gained over 48 percent on technology stocks. After the early 2000s, Tudor Jones’s returns slowed, likely due to a more conservative investing approach. 6

Tudor Jones’s fund is known for charging extremely high fees. In 2010, Forbes reported that the fund charged 4 percent (compared to an industry average of 2 percent) and collected 23 percent of profits earned for investors. By September of that year, the fund was down 0.9 percent. 7

From 1992 to 1995, Tudor Jones was chairman of the New York Cotton Stock Exchange. 8

Tudor Jones is a board member of the National Fish and Wildlife Foundation and the Futures Industry Association. 9

Tudor Investment PAC

In the 2008 investment cycle, Paul Tudor Jones launched the Tudor Investment PAC, which raised $155,000 that was dispersed over the following eight years. Funding was provided by Paul, his wife, Sonia Jones, and many employees of the Tudor Investment Company. Expenditures were roughly evenly split between Republicans and Democrats. 10

Philanthropy

Paul Tudor Jones has dedicated significant energy and funds to his philanthropic pursuits which he says are informed by his Christian beliefs. In 2013, Tudor Jones said, “the only reason I’m working right now is so I can continue my philanthropy.” 11

In 1986, Tudor Jones partnered with the I Have a Dream Foundation to sponsor the future college scholarships for a 6th grade class in Bedford-Stuyvesant, Brooklyn, one of the poorest areas of New York City. Tudor Jones hoped the sponsorship would incentivize a high school graduation rate of 90 percent, but the result was 33 percent. Tudor Jones admitted he “vastly underestimated both the academic and social challenges facing these kids.” 12

Robin Hood Foundation

In 1988, Tudor Jones founded the Robin Hood Foundation, a charity dedicated to fighting poverty in New York City through “venture philanthropy.” The Foundation is run almost entirely by hedge fund managers and drops 10 percent of grantees each year who underperform. By 2013, the organization had dispersed $1.5 billion. 13

In the early 2010s, Robin Hood launched a campaign to improve public education through a structural implementation of best practices. Tudor Jones identified teachers’ unions as the primary hindrance to public schools: “They have failed. They get an ‘F.’ What we have now is a failure in the way the teaching corps is organized, administered and deployed.” However, Jones also donated $125,000 to a union-led effort to increase taxes for school funding in Colorado. 14

Tudor Jones remains a board member of Robin Hood. 15

Everglades Foundation

In 1993, Tudor Jones co-founded the Everglades Foundation, an environmental conservation group dedicated to protecting Everglades National Park in Florida. 16

In 2008, Tudor Jones worked with the Everglades Foundation to intervene in the construction of a reservoir in the Everglades. The reservoir, which aimed to support local agriculture, would have been the largest in the world of its kind. When the construction was successfully stopped, the Florida government had already spent $300 million on the project. 17

Excellence Boys Charter School

In 2004, Tudor Jones founded Excellence Boys Charter School, the first all-boys charter school in the United States. 18

Politics

In March 2020, Paul Tudor Jones was on a call with President Donald Trump and Vice President Mike Pence regarding the potential impact of COVID-19 on the economy. 19 In May, Tudor Jones warned that the American economy was heading for a “second depression” due to an inadequate response from the government to the COVID-19 pandemic. He blamed an American affinity for “freedom” for having the potential to prevent necessary measures and contrasted it with a greater success in combatting the pandemic among Asian countries which he said emphasize collective over individual values. Tudor Jones also noted that the American love of freedom is normally “America’s biggest strength.” 20

In 2019, Tudor Jones declared then-President Trump “the greatest salesman in the history of this country.” He considered the combination of government stimulus spending and low interest rates “the most conducive environment for economic growth and strength that I’ve ever seen,” and he commended Republican support for heavy deficit spending, though he noted concerns about rising inequality. 21

Also in 2019, Tudor Jones predicted that if U.S. Senator Elizabeth Warren (D-MA) won the presidential election and she implemented her proposed wealth tax, the S&P 500 would decrease 25 percent and economic growth would be cut in half. 22

Tudor Jones expressed support for Mayor Pete Buttigieg’s (D-South Bend)’s presidential campaign. 23

Tudor Jones served on the finance committee of Mayor Rudy Giuliani (R-New York). 24  Tudor Jones later donated to Mayor Giuliani’s 2008 presidential campaign. 25

Contributions

Since 1989, Tudor Jones has given $1,454,900 in federally reported contributions to political candidates and PACs. Tudor Jones’s donations have roughly split between Republicans and Democrats. 26

Tudor Jones’s largest recipient is Honor Pennsylvania, which received $500,000. 27 Honor Pennsylvania was established in the 2022 cycle, and it raised over $21 million 28 to support U.S. Senate candidate David McCormick (R-PA), who lost in the Republican primaries. Media mogul Rupert Murdoch has also donated to Honor Pennsylvania. 29

Tudor Jones’s second largest recipient was Restore Our Future, a super PAC supporting the presidential candidacy of future U.S. Senator Mitt Romney (R-UT) in 2012. Tudor contributed $200,000. 30

In 2007, Tudor Jones hosted a 500-person fundraiser for then-U.S. Senator Barack Obama’s (D-IL) presidential campaign. 31

Ron DeSantis

Tudor Jones has emerged as one of many wealthy supporters of Florida Governor Ron DeSantis (R-FL). In 2022, Captains for Clean Water, an environmentalist PAC, gave $250,000 to the re-election campaign of Governor DeSantis, who subsequently came out against Senate Bill 2508, which jeopardized funds set aside for Everglades restoration. According to the blog Florida Politics, Captains for Clean Water has links to the Everglades Foundation, an organization Tudor Jones founded and on which he maintains a board seat. 32 Governor DeSantis vetoed the bill in June. 33 Thomas van Lent, who worked at the Everglades Foundation for 18 years, left the organization in 2021 because he believed it had “lost its way” and sworn “fealty” to Governor DeSantis. 34

Controversies

Remarks about Women in Business

In 2013, a recording of a meeting at the University of Virginia showed Paul Tudor Jones saying that women are unable to adequately focus on high-intensity trading after having children: “As soon as that baby’s lips touch that girl’s bosom, forget it.” Tudor Jones apologized for his remarks. 35

Home Protest

In 2015, Tudor Jones’s home was protested by “Hedge Clippers,” a campaign organized by the left-wing Strong Economy for All Coalition against wealthy individuals perceived to have too much political influence. Institutional Investor called Tudor Jones “not the most obvious target” given his relative lack of involvement in politics and his poverty-focused philanthropy. 36

Relationship with Harvey Weinstein

Tudor Jones was a friend of film producer Harvey Weinstein and sat on the board of the Weinstein Group. In 2017, Weinstein was accused by over 100 women of sexual harassment and assault. In December 2017, it was revealed that Tudor Jones had written a letter to Weinstein a few months earlier expressing support and the belief that “this will go away sooner than you think and it will be forgotten.” After the revelation, Tudor Jones publicly denounced Weinstein. 37

In response to Tudor Jones’s letter, United Way’s Women United initiative launched a petition demanding that the Everglades Foundation remove him from its board. 38

References

  1. Burke, Monte. “Can Hedge Fund Billionaire Paul Tudor Jones Save America’s Public Education System.” Forbes. November 17, 2013. Accessed September 27, 2022. https://www.forbes.com/sites/monteburke/2013/11/17/can-hedge-fund-billionaire-paul-tudor-jones-save-americas-public-education-system/?sh=2a6fcb9d277a.
  2. Rapier, Graham. “Hedge fund titan Paul Tudor Jones once said the ‘good news’ is that everyone would eventually forget what Harvey Weinstein did.” Insider. December 7, 2017. Accessed September 27, 2022. https://www.businessinsider.com/paul-tudor-jones-says-its-good-news-everyone-will-forget-about-harvey-weinstein-2017-12
  3. “Paul Tudor Jones, II.” Forbes. Accessed September 27, 2022. https://www.forbes.com/profile/paul-tudor-jones/?sh=5a3ee7b63ef0.
  4. Burke, Monte. “Can Hedge Fund Billionaire Paul Tudor Jones Save America’s Public Education System.” Forbes. November 17, 2013. Accessed September 27, 2022. https://www.forbes.com/sites/monteburke/2013/11/17/can-hedge-fund-billionaire-paul-tudor-jones-save-americas-public-education-system/?sh=2a6fcb9d277a.
  5. Ovide, Shira. “High Fees, High Life: Meet Billionaire Paul Tudor Jones.” The Wall Street Journal. August 24, 2011. Accessed September 27, 2022. https://www.wsj.com/articles/BL-DLB-34459.
  6. Smith, Randall. “After a Dazzling Early Career, a Star Trader Settles Down.” The New York Times. March 5, 2014. Accessed September 27, 2022. https://archive.nytimes.com/dealbook.nytimes.com/2014/03/05/after-a-dazzling-early-career-a-star-trader-settles-down/.
  7. Buhl, Teri. “Paul Tudor Jones is Not Making Investors Any Money.” Forbes. September 22, 2010. Accessed September 27, 2022. https://www.forbes.com/sites/teribuhl/2010/09/22/paul-tudor-jones-is-not-making-investors-any-money/?sh=b3669046d847.
  8. “Paul Tudor Jones II.” Everglades Foundation. Accessed September 27, 2022. https://www.evergladesfoundation.org/board-members/paul-tudor-jones-ii.
  9. “Paul Tudor Jones.” Bloomberg. Accessed September 27, 2022. https://www.bloomberg.com/profile/person/1704916.
  10. “PAC Profile: Tudor Investments.” Open Secrets. Accessed September 27, 2022. https://www.opensecrets.org/political-action-committees-pacs/tudor-investment/C00433052/summary/2008.
  11. [1] Burke, Monte. “Can Hedge Fund Billionaire Paul Tudor Jones Save America’s Public Education System.” Forbes. November 17, 2013. Accessed September 27, 2022. https://www.forbes.com/sites/monteburke/2013/11/17/can-hedge-fund-billionaire-paul-tudor-jones-save-americas-public-education-system/?sh=2a6fcb9d277a.
  12. Burke, Monte. “Can Hedge Fund Billionaire Paul Tudor Jones Save America’s Public Education System.” Forbes. November 17, 2013. Accessed September 27, 2022. https://www.forbes.com/sites/monteburke/2013/11/17/can-hedge-fund-billionaire-paul-tudor-jones-save-americas-public-education-system/?sh=2a6fcb9d277a.
  13. Burke, Monte. “Can Hedge Fund Billionaire Paul Tudor Jones Save America’s Public Education System.” Forbes. November 17, 2013. Accessed September 27, 2022. https://www.forbes.com/sites/monteburke/2013/11/17/can-hedge-fund-billionaire-paul-tudor-jones-save-americas-public-education-system/?sh=2a6fcb9d277a.
  14. Burke, Monte. “Can Hedge Fund Billionaire Paul Tudor Jones Save America’s Public Education System.” Forbes. November 17, 2013. Accessed September 27, 2022. https://www.forbes.com/sites/monteburke/2013/11/17/can-hedge-fund-billionaire-paul-tudor-jones-save-americas-public-education-system/?sh=2a6fcb9d277a.
  15. Schwartz, Brian. “Billionaire Paul Tudor Jones tests positive for Covid after attending celebrity charity event.” NBC. October 22, 2021. Accessed September 27, 2022. https://www.nbcnews.com/business/business-news/billionaire-investor-paul-tudor-jones-tests-positive-covid-day-after-n1282159.
  16. [1] “About.” Everglades Foundation. Accessed September 27, 2022. https://www.forbes.com/sites/jenniferwang/2017/10/21/how-hedge-fund-billionaire-paul-tudor-jones-learned-to-overcome-failure-in-6th-grade/?sh=7cd017d36b2d.
  17. Smith, Nancy. “Everglades Foundation vs. Tom Lent: Don’t Go Looking for Good Guys.” The Capitolist. May 1, 2022. Accessed September 27, 2022. https://thecapitolist.com/everglades-foundation-vs-tom-lent-dont-go-looking-for-good-guys/.
  18. Wang, Jennifer. “How Hedge Fund Billionaire Paul Tudor Jones Learned To Overcome Failure in 6th Grade.” Forbes. October 21, 2017. Accessed September 27, 2022. https://www.forbes.com/sites/jenniferwang/2017/10/21/how-hedge-fund-billionaire-paul-tudor-jones-learned-to-overcome-failure-in-6th-grade/?sh=7cd017d36b2d.
  19. [1] Tausche, Kayla; Franck, Thomas. “Trump, Pence held call on economy with investors including Paul Tudor Jones, Stephen Schwarzman.” CNBC. March 24, 2020. Accessed September 27, 2022. https://www.cnbc.com/2020/03/24/trump-pence-held-call-on-economy-with-investors-including-paul-tudor-jones-stephen-schwarzman.html.
  20. “Billionaire Boldly Says What Trump Won’t Tell You: The Economy Is Screwed.” CCN. September 23, 2020. Accessed September 27, 2022. https://www.ccn.com/billionaire-boldly-says-what-trump-wont-tell-you-the-economy-is-screwed/.
  21. David, Javier E. “Paul Tudor Jones: Trump is ‘the greatest salesman’ the US has ever seen.” Yahoo!. November 6, 2019. Accessed September 27, 2022. https://www.yahoo.com/now/paul-tudor-jones-on-donald-trump-163333438.html.
  22. Franck, Thomas. “The market will drop 25% if Warren wins the election, says hedge fund legend Paul Tudor Jones.” CNBC. October 29, 2019. Accessed September 27, 2022. https://www.cnbc.com/2019/10/29/paul-tudor-jones-sees-25percent-slide-for-stocks-if-warren-wins-in-2020.html
  23. Franck, Thomas. “Hedge fund titan Paul Tudor Jones is apparently a fan of presidential hopeful Pete Buttigieg.” CNBC. October 24, 2019. Accessed September 27, 2022. https://www.cnbc.com/2019/10/23/billionaire-paul-tudor-jones-reportedly-likes-democrat-pete-buttigieg.html
  24. [1] Schneider-Mayerson, Anna. “Big Rudy Guy and Allan Houston to Raise Money for Obama.” Observer. April 23, 2007. Accessed September 27, 2022. https://observer.com/2007/04/big-rudy-guy-and-allan-houston-to-raise-money-for-obama/.
  25. “Hedge Fund Moguls Back Giuliani’s Presidential Fund.” Deal Book. February 1, 2007. Accessed September 27, 2022. https://archive.nytimes.com/dealbook.nytimes.com/2007/02/01/hedge-fund-moguls-back-giulianis-presidential-fund/.
  26. “Individual contributors search: Paul Tudor Jones.” Federal Election Commission. Accessed September 27, 2022. https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=Paul+Tudor+Jones.
  27. “Individual contributors search: Paul Tudor Jones.” Federal Election Commission. Accessed September 27, 2022. https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=Paul+Tudor+Jones.
  28. “PAC Profile: Honor Pennsylvania.” Open Secrets. Accessed September 27, 2022. https://www.opensecrets.org/political-action-committees-pacs/honor-pennsylvania/C00798116/summary/2020.
  29. Schwartz, Brian. “Backed by Murdoch and Koch, Pennsylvania Senate GOP campaigns spend over $55 million on primary ads.” CNBC. May 16, 2022. Accessed September 27, 2022. https://ballotpedia.org/David_McCormick_(Pennsylvania).
  30. “Individual contributors search: Paul Tudor Jones.” Federal Election Commission. Accessed September 27, 2022. https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=Paul+Tudor+Jones.
  31. Schneider-Mayerson, Anna. “Big Rudy Guy and Allan Houston to Raise Money for Obama.” Observer. April 23, 2007. Accessed September 27, 2022. https://observer.com/2007/04/big-rudy-guy-and-allan-houston-to-raise-money-for-obama/.
  32. [1] Schorsch, Peter. “Questions raised surrounding Captains for Clean Water’s finances, leadership and ties to Everglades lobbying group.” Florida Politics. February 10, 2022. Accessed September 27, 2022. https://floridapolitics.com/archives/495490-questions-raised-surrounding-captains-for-clean-waters-finances-leadership-and-ties-to-everglades-lobby-group/.
  33. “Gov. DeSantis vetoes Senate Bill 2508, every voice matters.” Captains for Clean Water. June 10, 2022. Accessed September 27, 2022. https://captainsforcleanwater.org/senate-bill-2508-veto/.
  34. Christensen, Dan. “Everglades Foundation settles suit against scientist who said group has ‘lost its way,’ shown ‘fealty’ to DeSantis, Republicans.” Florida Bulldog. August 5, 2021. Updated September 1, 2021. Accessed September 27, 2022. https://www.floridabulldog.org/2022/09/ex-everglades-foundation-scientist-says-group-lost-way-fealty-desantis-republicans/#:~:text=UPDATE%3A%20Sept%201%20%E2%80%93%20The%20Everglades,to%20court%20documents%20filed%20Thursday
  35. Lauerman, John; Kishan, Saijel. “Tudor’s Jones Apologizes for Remarks on Female Traders.” Bloomberg. May 24, 2013. Accessed September 27, 2022. https://webcache.googleusercontent.com/search?q=cache:NQBjUcqqF-0J:https://www.bloomberg.com/news/articles/2013-05-23/tudor-s-jones-seeks-to-clarify-remarks-on-female-traders-birth&cd=1&hl=en&ct=clnk&gl=us.
  36. Rose-Smith, Imogen. “Protesters to Picket Paul Tudor Jones’ Home Over Income Inequality.” Institutional Investor. March 14, 2015. Accessed September 27, 2022. https://www.institutionalinvestor.com/article/b14z9v0qmzyb39/protesters-to-picket-paul-tudor-jones-home-over-income-inequality.
  37. Rapier, Graham. “Hedge fund titan Paul Tudor Jones once said the ‘good news’ is that everyone would eventually forget what Harvey Weinstein did.” Insider. December 7, 2017. Accessed September 27, 2022. https://www.businessinsider.com/paul-tudor-jones-says-its-good-news-everyone-will-forget-about-harvey-weinstein-2017-12.
  38. [1] “Remove Paul Tudor Jones from Everglades Foundation Board.” Action Network. Accessed September 27, 2022. https://actionnetwork.org/petitions/remove-paul-tudor-jones-from-everglades-foundation-board.
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