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The Philanthropy 50: Americans Who Gave the Most in 2008
Peter G. Peterson and Joan Ganz Cooney
Rank: 3
Total amount committed in 2008: $1-billion
Location: New York, New York
Source of wealth: Finance
Other key beneficiaries: Peter G. Peterson Institute for International Economics and Sesame Workshop
Donors' background: Mr. Peterson co-founded the Blackstone Group, a New York financial firm that holds interests in corporate debt, hedge funds, private equity, and real estate. He served as secretary of commerce during the Nixon administration. Ms. Cooney co-founded the Children's Television Workshop (now called Sesame Workshop), in New York.
Mr. Peterson, 82, and his wife, Ms. Cooney, 79, pledged $1-billion --of which $200-million has been paid-- to establish the Peter G. Peterson Foundation, in New York. When Mr. Peterson created the foundation early last year, before the economic crisis hit, he said he did so to call attention to threats to America's economic security.
The foundation's primary focus is on problems the country is facing because of the growth of federal programs like Medicare and Social Security, rapidly increasing health-care costs, ballooning budget and trade deficits, low savings rates, and soaring foreign debt. Mr. Peterson said his foundation will work to increase public understanding of those problems and encourage Americans to support efforts to combat them.
The foundation will also work toward making the country's educational system more competitive and quashing the proliferation of nuclear weapons.
In 2008 the foundation awarded grants totaling nearly $10.6-million. The Nuclear Threat Initiative, in Washington, received $3-million to establish an institute for nuclear security; the Concord Coalition, an Arlington, Va., group Mr. Peterson co-founded in 1992 to push for fiscally responsible public policy, received $1.5-million; America's Promise Alliance, a Washington organization focused on the well-being of youths, received $1-million; and the Committee on Economic Development, in Washington, received $1-million.
Smaller grants went to the Center for the Study of the Presidency and the Institute of Medicine, both in Washington; the Institute for Advanced Policy Solutions at Emory University, in Atlanta; and Common Good, in New York.
In addition to their pledge to the foundation, Mr. Peterson and Ms. Cooney gave $8.5-million to the
Peter G. Peterson Institute for International Economics, in Washington; and $5-million to Sesame Workshop, a New York group that produces the television show, Sesame Street and other educational programming for children. The couple also donated $1-million to the Museum of Television and Radio, in New York; and $1-million to NewYork-Presbyterian Hospital.
Mr. Peterson serves on the boards of the Concord Coalition; the Japan Society and the Museum of Modern Art, both in New York; and the Peter G. Peterson Institute for International Economics.
Ms. Cooney serves on the boards of the Joan Ganz Cooney Center at Sesame Workshop, NewYork-Presbyterian Hospital, and the Paley Center for Media, all in New York.
About These Data
The giving figures listed for each individual are based on donations announced to date by the donors or their beneficiaries. In cases of bequests, most of the figures are estimates because the wills have not been settled. For news of gift announcements in 2009, visit the America's Top Donors database.
If you know about a recent gift of $1-million or more that should be added to this directory, please send a message to gifts@philanthropy.com.