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The Hundred Million Dollar Man(del)
The consistent talk around Hanover is that the benefactor who gave $100 million to the College is outgoing Board of Trustees Chairman Steve Mandel ‘78. He’s #314 on the Forbes 400 list of the richest people in America with a total net worth of $1.8 billion.
Among his many other gifts to Dartmouth, Mandel is also known to be the “anonymous donor” of $35 million to the Center for Health Care Delivery Science. Forbes profiled him as follows:
Dartmouth grad Steve Mandel worked at Mars & Co. and then Goldman Sachs before joining fellow billionaire Julian Robertson’s Tiger Management as a consumer analyst. Mandel departed in 1997 to launch Lone Pine, named for a mythical Dartmouth pine tree that survived an 1887 lightning strike at his alma mater. The firm currently manages approximately $21 billion across its funds, which were up between 10% and 16% through the first half of 2013 after a great 2012. Mandel contributed $134 million to his Zoom Foundation in tax year 2010, which now has more than half a billion dollars in assets. Past beneficiaries include the Children’s Aid Society of New York, Phillips Exeter Academy, and the Fairfield County Foundation. Mandel also serves on the board of Dartmouth College and Teach for America.
Mandel’s tenure as Chairman covered most of the Presidency of Jim Yong Kim, the Interim Presidency of Carol Yong Folt, and the selection and first year of Philip J. Hanlon ‘77 as Dartmouth’s current President. It is safe to say that, despite his extraordinary generosity to the College, Chairman Mandel left Dartmouth weaker than he found it.
Addendum: A couple of sources have written in to assert that Steve Mandel did not fund the troubled Center for Health Care Delivery Science.
October 18, 2009
When Love Beckoned in 52nd Street
We were at San Francisco’s BIX last evening, enjoying prosecco, cheese, and a bit of music. A full year of inhabitation in Northern California has unraveled to me no decent venue for proper lounging, but…
October 9, 2009
D Afraid of a Little Competish
So our colleague and Dartblog writer Joe Asch informed me that the D has rejected our cunning advertising campaign. Uh-oh. The Dartmouth is widely known as a breeding ground for instant New York Times successes,…
September 4, 2009
How Regents Should Reign
As Dartmouth alumni proceed through the legal hoops necessary to defuse a Board-packing plan—which put in unhappy desuetude an historic 1891 Agreement between alumni and the College guaranteeing a half-democratically-elected Board of Trustees—it strikes one…
August 29, 2009
Election Reform Study Committee
If you are an alum of the College on the Hill, you may have received a number of e-mails of late beseeching your input for a new arm of the College’s Alumni Control Apparatus called…
August 23, 2009
Fare Thee Well, Tom Crady
And now Dean Tom Crady has precipitously announced his departure from the College after only 20 months on the job. How to read this? By way of background, prior to coming to Dartmouth, Crady had…
May 31, 2009
Kangaroo Court, Indeed
In an interview with The Dartmouth, alumni-elected trustee T.J. Rodgers ‘70 explained his reasons for declining to participate in future evaluations of trustees up for “re-election,” namely the “kangaroo court” nature of such discussion in…