The Bevy of Billionaires undermining public education

The colossal and disastrous effort to privatize public education in the United States is alive and well thanks to a plethora of billionaires who, although they’d never send their own children to a public school, have decided that individually and collectively, they know what is best for the nation’s students, parents, teachers and public schools.

From New York City to Los Angeles and Washington State to Florida, the “billionaire boys club,” as Diane Ravitch, the country’s leading public education advocate, has dubbed them, are spending hundreds of millions of dollars via campaign contributions, Dark Money expenditures and their personal foundations to “fix” what they claim are the problems plaguing the country’s public schools.

These neo-gilded age philanthropists claim that the solution is for parents, teachers and education advocates to step aside so that the billionaires and their groupies can transform public education by creating privately owned and operated – but taxpayer funded – charter schools.

In addition, they pontificate that students learn best when schools are mandated to use the ill-conceived Common Core standards so classrooms become little more than Common Core testing factories and the teaching profession is opened up to those who haven’t been burdened by lengthy college based education programs designed to provide  educators with the comprehensive skill sets necessary to work with and teach the broad range of children who attend the country’s public schools.

The billionaire’s proclaim that the solution to creating successful schools is really rather simple.

They say that public schools run best when they are run like a business…

Cut through their rhetoric and the billionaires want us to believe that by introducing competition and the concept of “profit” they can turnaround any school, no matter the challenges it or its students may face….

Privatization, they argue, will lead to greater efficiencies while opening up the public purse to those who have products that they seek to sell to our children and our public schools.

And, the billionaires would have us believe, that the best teachers are those who get five weeks of training via a high-profile Teach for America program and are then thrown into the classroom where they, like all teachers, should be evaluated based on how well their students do on those unfair, inappropriate and discriminatory Common Core standardized tests.

Like the military industrial complex that President Eisenhower warned us about more than 55 years ago, the billionaires, the charter school industry and their corporate education reform allies want us to believe that providing children with the skills and knowledge to succeed and prosper in the 21st Century is nothing more than an opportunity to “wage war” and make money, all at the same time.

And who are these billionaires?

They are the self-professed greatest names in the United States.

The following is a partial and growing list of the super elite who deem to dabble in remaking our public schools.

Or as they would put it, blessed are the wealthy for they shall reform our public schools, with or without our consent.

First Name Last Name Net Worth Relationship with Corporate Education Reform and Charter School Industry (Partial list) How They got their billions
John Arnold $2.5 B Laura and John Arnold Foundation, Democrats for Education Reform, Education Reform Now, EdVoice, New Teacher Project Hedge Fund Owner – Centaurus Advisors LLC
Louis Bacon $1.9 B StudentsFirst, Cuomo Donor, New Yorkers for a Balanced Albany Hedge Fund Owner – Moore Capital Management
Steve Ballmer $23.5 B Stand for Children, Major Dark Money Donor Microsoft CEO
William Berkley $1.1 B Achievement First, Inc. WR Berkley Corporation Founder Chairman CEO – insurance sports and entertainment companies
Michael Bloomberg $40 B Leadership for Educational Equity, Teach for America, Stand for Children, New Leaders for New Schools, California Charter School Advocates, Major Dark Money Donor Co-founder, Bloomberg LP Owner, former Mayor of New York City
Eli Broad $7.3 B The Eli and Edythe Broad Foundation, EDVoice, California Charter School, Cuomo Donor, Malloy Donor, Major Dark Money Donor Sun Life Insurance Company of America – (Retired)
Steve Cohen $12.7 B Steve and Alexandra Cohn Foundation, Harlem Children’s Zone, Achievement First, NE Charter School Network, Teach for America Hedge Fund Owner – SAC Capital Advisors
Ray Dalio $15.6 B Dalio Foundation, Teach for America, Hedge Fund Owner – Bridgewater Associates Owner Founder – hedge
Elizabeth DeVos $4.7 B DeVos Family Foundation, Alliance for School Choice, American Federation for Children, Stand for Children, All Children Matter, Children’s Scholarship Fund, Major Dark Money Donor Amway Owner Co-Founder – Orlando Magic NBA Team Owner
John Doerr $4.1 B New Schools Venture Fund, EdVoice, Venture Capitalist – Kleiner Perkins Caufield & Byera
Stanley Druckenmiller $4.4 B Children’s Scholarship Fund, Hedge Fund Owner – Duquesne Capital – Retired
David Einhorn $1.4 B Democrats for Education Reform, Hedge Fund Owner – Greenlight Capital
Doris Fisher $2.6 B Doris & Donald Fisher Fund, KIPP Foundation, Ed Voice, Gap Inc. Co-Founder
John Fisher $2.2 B Doris & Donald Fisher Fund, KIPP Foundation, Charter School Growth Fund, Silicon Valley Growth Fund, Ed Voice, Gap Inc. Heir Owner – Oakland Athletics Owner
Bill Gates $75 B Bill and Melinda Gates Foundation Microsoft Chairman
Reed Hastings $1.2 B KIPP Foundation, Ed Voice, California Charter School Association, Major Funder Netflix Co-Founder Facebook Board Member
H Wayne Huizenga $2.6 B National Heritage Academies, Inc. (NHA) for-profit charter school management organization, Stand for Children Investor, Waste Management- Blockbuster Video – AutoNation – Swisher Hygiene
Ray Lee Hunt $5.3 B Texans for Education Reform, Hunt Oil Co-Owner Heir – son of founder H L Hunt – oil
Carl Icahn $17 B Icahn Charter Schools, StudentsFirst, New Yorkers for a Balanced Albany Icahn Enterprises Owner
Charles Johnson $4.6 B Charles and Ann Johnson Foundation, Alliance for School Choice, American Education Reform Council Chairman, Franklin Resources – Owner of San Francisco Giants
Paul Tudor Jones III 4.7 B Families for Excellent Schools, StudentsFirst, New Yorkers for a Balanced Albany, Cuomo Donor Hedge Fund Owner – Tudor Investment Corporation
Bruce Karsh $1.9 B KIPP Foundation, Teach for America Hedge Fund Owner – Oaktree Capital Management
Seth Klarman $1.3 B Families of Excellent Schools, New Yorkers for a Balanced Albany Hedge Fund Owner – Baupost Group Investments
Charles Koch $39.6 B American for Prosperity, American Encore,  Major Dark Money Donor Koch Industries
David Koch $39.6 B American for Prosperity, American Encore, ,  Major Dark Money Donor Koch Industries
Bruce Kovner $5.3 B Thomas T Fordham Institute (former), Bronx Preparatory Charter School, Hedge Fund Owner – Caxton Associates
Kenneth Langone $2.7 B Families for Excellent Schools, StudentsFirst, Harlem Children’s Zone, Republicans for Cuomo Home Depot Co-Founder
Daniel Loeb $2.6 B Success Academy, Families for Excellent Schools, StudentsFirst, Cuomo Donor, New Yorkers for a Balanced Albany Hedge Fund Owner – Third Point LLC
Stephen Mandel Jr $2.5 B Teach for America, Excel Bridgeport, Hedge Fund Owner – Lone Pine Capital
Robert McNair $3.3 B Texans for Education Reform, Chairman, McNair Group
Rupert Murdoch $10.6 B Amplify News Corporation Founder Chairman, CEO
Laurene Powell Jobs $16.7 B NewSchools Venture Fund, Teach for America, Apple-Pixar Owner
Thomas (Margot) Pritzker $2.7 B University of Chicago Charter School, Pritzker Organization Chairman CEO – Hyatt Hotels Corp Executive Chairman
Penny Pritzker $2.3 B Noble Charter Schools, Hyatt Hotels Heir –
Larry Robbins $2 B KIPP New York, Relay Graduate School of Education, Teach for America New York, Harlem Village Academies, Harlem Children’s Zone Hedge Fund Owner -Glenview Capital Management
Julian Robertson Jr $3.6 B Robertson Foundation, Pave Charter Schools, Families for Excellent Schools, iMentor, Teach for America, New Yorkers for a Balanced Albany Hedge Fund Owner – Tiger Management Corporation
Stacy Schusterman $3.4 B Charles and Lynn Schusterman Family Foundation, Charter School Growth Fund, Ed Voice, Stand for Children, Teach for America Samson Investment Company (oil & gas)
Charles Schwab $5.4 B Charles and Helen Schwab Foundation, Teach for America, Aspire, KIPP Foundation, Charles Schwab Corp Founder
Paul Singer $2.2 B Paul Singer Family Foundation, New Yorkers for a Balanced Albany Elliott Management Corporation Founder Owner – distressed debt acquisitions
Christy Walton $5.2 B Walton Foundation, Major Dark Money Donor Wal-Mart Co-Owner Heir-Widow of John-who was son Of Founder Sam Walton
Jim Walton $33.6 B Walton Foundation, Major Dark Money Donor Wal-Mart Co-Owner Heir – Youngest Son Of Founder Sam Walton
Alice Walton $32.3 B Walton Foundation, Major Dark Money Donor Wal-Mart Co-Owner Heir – Daughter of Founder Sam Walton
Carrie Walton Penner (S Robson) Walton $31.9 B Walton Foundation, Major Dark Money Donor Wal-Mart Co-Owner Heir – Son Of Founder Sam Walton
Sam Zell $4.8 B Zell Family Foundation, Teach for America Equity Group Investments Chairman -real estate – private equity
Mark Zuckerberg $44.6 B Zuckerberg Foundation, Newark Project Facebook Chairman CEO

 

 

  • JMC

    I missed one name there, Jon. The name of the font and source of all privatizing activity in the US for the past 7 1/2 years. The name of the destroyer of public education. The name of Barack Hussein Obama. Next up: Hillary Rodham Clinton. Please, let’s not kid ourselves.

    • R.L.

      Don’t leave out the destroyer of public education from the “other side” of the isle (among the many), the originator of No Child Left Behind and high stakes testing, George W. Bush.

      • JMC

        Sorry! You are absolutely correct. And his brother Jeb, or should I say Jeb!

        • oye_el_pensador

          You mean the Jebster?

  • EthanHartSL

    Don’t forget Amazon and Washington Post owner, Jeff Bezos. Education Reform Now, NBC Education Nation, KIPP, TFA, and the Bezos Foundation.

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  • Lloyd Lofthouse

    I think what this billionaire boys/girls club is doing is undermining the U.S. Constitution and the republic it supports.

    Mariam Webster says Treason is “the betrayal of trust: treachery; the offense of attempting by overt acts to overthrow the government of the state to which the offender owes allegiance …”

    Isn’t our govenrment defined by the U.S. Constitution and any act to subvert the Constitution is treachery against our government?

    After all the community based, democratic, transparent, non profit public schools are the foundation of our republic and democracy, a foundation supported by the oversight of community based elected school boards.

    The U.S. Constitution was written to protect the people from the abuse of power of an elected government. It was not written to protect peolpe from corporations because corporaitns were not meant to be the govenrment.

    So, what happens to the republic once the traditional public schools have all been removed from the protection of the U.S. Constitution and are controlled by autocratic, for profit, often fraudulent, opaque and abusive publicly funded but private sector corporate charter schools that use bully tactics to achieve their goals?

  • Jeannie Kaplan

    May I suggest two other columns? Could be answered with a simple yes or no.
    Attended public school – no charter
    Children attend or attended public school – no charter

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  • rpearce

    How about a piece on politicians doing the same thing?