Paul Tudor Jones II, founder of antipoverty
Robin Hood Foundation, thinks he can make the world a
better place. The hedge fund tycoon has enlisted his friends
Arianna Huffington and Deepak Chopra to help him. Their target:
But this is no hedge fund activism campaign. In March, Jones
gave a TED talk in Vancouver. In it the founder
of Greenwich, Connecticutbased Tudor Investment Corp.
unveiled a radical proposal: that companies act responsibly,
with assistance from the public. Jones, whose personal net
worth is estimated at more than $4.6 billion, suggested that
this kind of crowdsourcing corporate governance could help
tackle the income gap and reduce the divide between the haves
and have-nots. To road-test the idea, Jones has launched a
foundation called JUSTCapital.
Over the past 50 years, we as a society have come to
view our companies and corporations in a very narrow, almost
monomaniacal fashion with regard to how we value them, and we
have put so much emphasis on profits, on short-term quarterly
earnings and share prices, at the exclusion of all else,
Jones, 60, said in his talk. Its like weve
ripped the humanity out of our companies.
In response, Jones explained, he and some friends started
JUSTCapital, which aims to help businesses learn how to behave
more justly. Incorporated in 2013, the New Yorkbased
nonprofit will produce research and reports on corporate
governance, with the goal of producing a rating system.
According to the foundations 990 report to the Internal Revenue
Service, the JUSTCapital system will distinguish
itself from the many existing ratings of this kind by defining
corporate responsibility according to the standards
of the people of the United States, as discerned through
research regarding broad trends and opinions among the general
public regarding the importance of certain issues in the
context of corporate behavior. The foundation has hired
Martin Whittaker, founder of a private office network focused
on impact investing, to be its CEO.
But the more interesting network might be Joness own.
Besides Jones the foundations board members include
Huffington, co-founder and editor-in-chief of the Huffington
Post, and Chopra, the Indian-American holistic health
and wellness advocate.
Chopra also chairs his own Chopra Foundation. JustCAPITAL
directors Paul Scialla, founder of Delos Living, a New
Yorkbased wellness real estate firm, and Alan
Fleischmann, CEO of communications firm Laurel Strategies,
serve on Chopras board too, as does Joness wife,
Sonia Jones, who describes herself as a wellness
advocate and impact philanthropist.
It would be quite a coincidence if JUSTCapitals
research were to find that wellness is at the heart of building