The New York Times writes: Giving away $56.5 million in a night would strike most people as extravagant. But to the tycoons of modern finance, it seems a bit low key.
At the 2008 Robin Hood Foundation benefit this week, auctiongoers donated that much money to charity. But many of the market wizards are making less these days — and they are giving away less, too. Robin Hood’s haul was down 21 per cent from last year.
After years of jaw-dropping excess fuelled by the hyper-wealth of Wall Street, the gala, held Tuesday night at the Jacob K. Javits Convention centre, reflected the somber mood on Wall Street. Read more from the New York Times.
Business Insider Emails & Alerts
Site highlights each day to your inbox.