2020)", "A divided federal appeals court rules Baltimore's surveillance plane is constitutional, cites city's struggles", "Billionaire-Funded Criminal Justice Reform Actually Expands Carceral System", "Officials Got a Windfall Before Enron's Collapse", "How a billionaire couple greased the skids for Nancy Pelosi's drug pricing bill", "Storied Texas Mansion Completely Demolished: The Bulldozer Brings Down Houston's Greatest Architect", "Big and Modern on Lazy Lane: John Arnold Tries House Trading | Swamplot", Baylor College of Medicine: "Laura Arnold named to BCM Board of Trustees" by Lori Williams, "Meet Laura Arnold, the billionaire philanthropist taking on the parole system with Jay-Z and Meek Mill", "Our Team | Laura and John Arnold Foundation", https://en.wikipedia.org/w/index.php?title=John_D._Arnold&oldid=1150152010, This page was last edited on 16 April 2023, at 16:09. 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. Ioannidis, whose name is almost synonymous with scientific skepticism, says he has seen immense progress in recent years. The journals Science and Nature have started bringing in statisticians to review their papers. On some days at Enron, Arnold would trade more than a billion dollars worth of gas contracts. info@naturalgasintel.com John D. Arnold is an American philanthropist and businessman. In 2016, John Arnold gave $250,000 to an unsuccessful effort to lift the cap on charter schools in Massachusetts, and they poured more than $500,000 into a PAC that helped bolster Governor Charlie . Former Enron Corp. energy trader John Arnold is closing down his flagship Centaurus Energy Master Hedge Fund. [17] August 2008, Centaurus acquired around 10% of the shares of National Coal Corporation (NCOC). NGI Archives On the top of that list was the energy trading legend that is John Arnold. [32], In October 2018, it was reported that Arnold had spent more than $100 million in health-care related grants since 2014, with a particular focus on reducing pharmaceutical drug costs. Late on Saturday, September 16, Amaranth's senior energy trader Brian Hunter asked John Arnold, Centaurus CEO, whether the hedge fund would like to make a bid for some of Amaranth's positions. Arnold founded Centaurus with an $8 million employee bonus from Enron. You have 3 free articles remaining. [29] The Foundation is focused on evidence-backed giving for systematic change. 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. 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. NGI All News Access. It was little wonder, then, that funders didnt come running to support Nosek: He wasnt promising novel findings, he was promising to question them. Usually the division of labor in most of our work is that I talk, Laura Arnold says in a phone interview. Just weeks before the federal guidelines were due for an update, Teicholzs blistering report appeared in the prominent medical journal The BMJ, charging that the governments panel of scientists had failed to consider evidence that would have done away with long-held worries about eating saturated fat. But some experts are critical of this shift away from traditional giving, seeing in it a worrying trend in modern philanthropy. Then, one day in November 2011, he was listening to the podcast EconTalk, hosted by libertarian economist Russ Roberts. John Arnold, co-founder of the Laura and John Arnold Foundation, was dubbed the King of Natural Gas in the nascent days of online energy trading at Enron. What do we actually know?. 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. Hard-working business innovator Daymond John has been known to say that he is "retired" because hes doing what he loves - helping other people succeed. 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.. In the past ten years, we have achieved more success than I could have hoped for or imagined. But among hedge funders and energy traders, Arnold is a legend. Ludwig is a native of Orange County, California,. Arnold is careful not to lump all researchers together when he talks about the problems in science. 5. 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 . She is co-founder of Arnold Ventures LLC. What's Fishbowl. A hugely successful energy trader, Arnold once worked at Enron, earning the disgraced company a reported $750 million the year it went bankrupt. By the time he was 14, Arnold was running his first company, selling collectible sports cards across state lines. According to Forbes, Arnold has a personal fortune of $3 billion as of March, putting him at No. Arnold entered the investment industry out of college by working for Enron, the infamous natural gas conglomerate that collapsed in 2001 following revelations of its vast accounting fraud. 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. Science Has Its Problems, But the Web Could Be the Fix, Psychology Is in Crisis Over Whether Its in Crisis, Why Most Published Research Findings Are False.. LLCs dont have foundations 5 percent annual spend-out requirements or strict investment rules. The Centaurus founder could probably point to trades that made him a ton of money but you really can't put a price on avoiding the humiliation that would've come from . Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. Centaurus Advisors. Donate today to assist in promoting the principles of individual liberty in America. 12 -- John Arnold, Centaurus Advisors. More importantly, private corporations may spend unlimited sums influencing elections, legislation, and political issues under the Constitutions First Amendment right to free speech with none of the limitations on lobbying and election interference the IRS imposes upon nonprofits (in exchange for limited tax exemption). 123. Bothersome bureaucracy notwithstanding, tax exemption and tax deduction are tangible benefits that acknowledge that compact. 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 . Does anyone really believe that charity is better off when only experts can distinguish between the two? The next year the Arnolds promised $35.5 million more. Laura and John Arnold didnt start the movement to reform science, but they have done more than anyone else to amplify its capabilitiestypically by approaching researchers out of the blue and asking whether they might be able to do more with more money. Worse yet, whenever evidence came along that contradicted the consensus about the dangers of eating fatoften evidence that was much stronger than the evidence for the dangersit was ignored or not even published. It became extraordinarily frustrating.. We talk about the . The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. [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. Believing that transparent markets empower businesses, economies, and communities, Natural Gas Intelligence (NGI) provides natural gas price transparency and key news, insights and data for the North American energy markets. Facebook founder Mark Zuckerberg and his wife, Priscilla Chan, launched a similar LLC (the Chan-Zuckerberg Initiative) in 2015, with Zuckerberg transferring some 99 percent of his shares in the social media company to the LLCan amount reportedly exceeding $45 billion. The No. Science is built like a building, Arnold says. Arnold had always been ready to make huge bets, but it was ultimately his hunger for reliable data that made him a brilliant trader. A new study shows . But figuring out which organizations were most effective turned out to be vexing. Joseph (Rusty) Walter III and Paula Walter . Arnold figures that some of his specific grants might not work out as planned. What does that say about American philanthropy? The Arnold Foundation has been the Medici of meta-research, Ioannidis says. Centaurus will be returning capital to investors, according to a Reuters report that cited an unnamed investor who said the wind-down was described in a letter sent by Arnold to investors. in 2017. Had something similar happened on Wall Street, he tweeted, the perpetrator would have been sentenced to 10 years in jail and the bank would have been fined a billion dollars. Raymond Dalio, Bridgewater Associates - $780 million. These critiques of science amounted to a deep philosophical quandary for the Arnolds, philanthropists who had dedicated their lives to a data-based approach to giving. Its a stupid little badge, Nosek says, but it works. It is the essential source of information and ideas that make sense of a world in constant transformation. (Arnold was not involved in the fraud.) Mr. Arnold is also Founder of Centaurus Capital LP, a family office investment fund with a specific focus on the energy industry. A month after legendary natural gas trader Arnold abruptly announced that his Houston-based Centaurus would wind down its $2 billion master fund following a decade of unrivalled gains, Whalley. 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. In episode 386, we welcome our guest, John Arnold, arguably the best natural gas trader of all-time and now one of the largest philanthropists in the US, giving away almost half a billion dollars a year. And Noseks project was an attempt to head it off at the pass. Arnold and his wife, Laura Munoz, together run the John and Laura Arnold Foundation, a major private grantmaking foundation.In early 2019 he and his wife Laura started Arnold Ventures, a for-profit limited liability company (LLC) and grantmaking organization. If John Arnold . One of the counterparties Amaranth approached was Centaurus. The Supreme Court has come under intense scrutiny lately over a series of reports suggesting potential conflicts of interest. But given the long history of deep-pocketed business interests sowing doubt in research, his underlying question was a fair one: Who is John Arnold, and why is he spending so much money to raise questions about science? Ultimately his army of volunteers could verify the findings of only about 40 percent of the studies.
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