"Sir Chris Hohn, Britain's most generous philanthropist, has slammed government cuts to overseas aid as "cruel" after donating an additional $328 million (£243 million) of his personal wealth to help fill the gap."
""A lot of lives, maybe in the millions, have been lost because of these very cruel policies," Hohn said. "The foundation is doing what we can to fill, in a small way, some of these enormous gaps.""
"The billionaire hedge fund manager, 58, made the contribution to his Children's Investment Fund Foundation (CIFF) in 2024, supplementing the $595 million invested by the charity from its $6.1 billion endowment. In total, CIFF committed $923 million to global projects last year."
Sir Chris Hohn contributed an additional $328 million (£243 million) of personal wealth to the Children's Investment Fund Foundation (CIFF) in 2024, supplementing $595 million already invested from a $6.1 billion endowment. CIFF committed $923 million to global projects last year. Hohn increased giving in direct response to reductions in international aid budgets, including the UK cut from 0.7% to 0.5% of national income and plans to reach 0.3% by 2027, and the dismantling of USAID in the US. CIFF benefited from investment gains, booking a $637 million return in 2024 and cumulative performance of 633% since 2009. Hohn built his wealth through the $70 billion hedge fund TCI and activist campaigns.
Read at Business Matters
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