The Centaurus founder could probably point to trades that made him a ton of money but you really can't put a price on avoiding the humiliation that would've come from . Donate today to assist in promoting the principles of individual liberty in America. Fight back. Centaurus Capital | Bernard Opetit | Hedge Fund Notes We can feed off that. Figuring out exactly which rewards work best and how to simultaneously change the incentives for researchers, institutions, journals, and funders is now a key area of interest for Goodman and Ioannidis. John Arnold kim c hng t USD trn sn giao dch nng lng trong nm 2008 nh vic lun tun th quy tc chi ca ring mnh. Unlike Tom Steyer, a billionaire who earned his wealth investing in oil and natural gas and now hypocritically blames those commodities for devastating the planet, John Arnold says little about climate change. Theres little evidence to prove how necessary or helpful many of the accepted norms in psychedelic-assisted therapy areand some could even harm patients. About - Centaurus Financial, Inc.. But about an hour in, Massachusetts representative Jim McGovern leaned into his microphone. John Arnold shocked the hedge fund world in 2012 when, at just 38 years old, he announced he would no longer manage other people's money. Nosek was so taken with the importance of redoing old experiments that he had also rallied more than 50 like-minded researchers across the country to participate in something he called the Reproducibility Project. A 2016 study to determine the effectiveness of the badges showed that the number of articles that reported publicly available data had increased tenfold. [15], He then founded Centaurus, a hedge fund, with his previous year's bonus in 2002. But as it happens, Nosek is just one of many researchers who have received unsolicited emails from the Arnold Foundation in the past few yearsresearchers involved in similar rounds of soul-searching and critique in their own fields, who have loosely amounted to a movement to fix science. [39], Arnold Ventures LLC has invited criticism with its involvement in many controversial areas. [3][4][5][6][7], In 2019, Arnold became the chairman of Houston's 2026 bid for the FIFA World Cup. Michael Maggi is a former Enron trader who then spent time at Centaurus Capital, the hedge fund founded by noted Houston philanthropist John Arnold, before founding Goldfinch Capital. In recent years Arnold has invested in solar farms and deepwater oil developments in the Gulf of Mexico. Donald Trumps real net worth? Sign In, Listen to the latest episode of our newest podcast, 2023 North American Pipeline, LNG & Market Hubs Map, 1Q23 N.A. Arnold Ventures is a group of more than 100 passionate people from all walks of life who feel a deep urgency to help people in need. Billionaires John and Laura Arnold make Forbes' America's Top Givers Laura Arnold, 43, and John Arnold, 42 Co-founders of the Laura and John Arnold Foundation The Houston couple with three children work full time to give away John's $2.8 billion fortune. Sam Apple (@samuelapple) teaches science writing at the University of Pennsylvania. But he also stood out for his skepticism. "[36], In 2019, Arnold spoke out against donor-advised funds (DAF), criticizing them for delaying charitable giving and promoting giving to institutions that are less likely to need the money. On some days at Enron, Arnold would trade more than a billion dollars worth of gas contracts. His ~$3 billion fund, Centaurus, was down 4% in 2010 YTD, according. Washington DC | New York | Houston | Pittsburgh | Mexico City Calgary | Chile. The Search for Long Covid Treatments Takes a Promising Turn. But powerful special interests are trying to question science., If John Arnold decided he wanted to beat hunger, I wouldnt want to bet on hunger.. While this private company, Arnold Ventures, is structurally indistinguishable from any other for-profit corporation, its purpose is strictly philanthropicbut it comes with key advantages. But now, with their stepped-up ambitions, the couple entered a new realm. [50] She was formerly a mergers-and acquisitions attorney in Houston, Texas, and an oil company executive. Now she's turning her attention to storing green hydrogen, which is hydrogen produced using clean power. [35], In 2019, the organization was transformed into a limited-liability company composed of the former foundation, a donor-advised fund, and the Action Now Initiative advocacy organization, effectively combining philanthropy, research, policy, and advocacy efforts. In exchange for forgoing those revenues, the government requires a certain standard of public accountability for nonprofits, delivered through public disclosure of annual Form 990 filings and limits on political activities. When former Enron trader and Texas billionaire John Arnold donated more than $1 million to a November 2014 initiative to reform the public pension system in . Directors E.J. As Enron neared bankruptcy, executives scrambled to hold its operation together, offering bonuses to keep traders on board. (After an external and internal review, The BMJ published a correction but chose not to retract the investigation. Brian Nosek had pretty much given up on finding a funder. Inside the Secretive Life-Extension Clinic. Nonprofits must file annual Form 990 financial reports with the IRS, disclosing their revenues, employee compensation, grant recipients, and (in the case of foundations) their donors. [1], A 1995 graduate of Vanderbilt University, he completed a degree in mathematics and economics in three years. May 17 (Reuters) - John Arnold, a former Enron trader and hedge fund honcho known as the "king of natural gas", is backing an energy-focused credit fund that will aim to take advantage of. Updated March 10, 2017 5:18 pm ET. [3][8] His father was a lawyer and died when Arnold was 18. ioneer Ltd has gained a substantial shareholder in Centaurus Capital L.P, which now holds a 7.84% stake with more than 131.5 million shares.This status was reached after US-based Centaurus . John Arnold, one of the most profitable traders in the hedge fund industry, has decided to shut down his Centaurus Advisors and return money to investors, according to people familiar with. John Arnold, Centaurus Energy . At least, not exactly. Says Goodman, Scientists really do want to discover things that make a difference in peoples lives. Science Has Its Problems, But the Web Could Be the Fix, Psychology Is in Crisis Over Whether Its in Crisis, Why Most Published Research Findings Are False.. [8][12] His former colleagues dubbed him "king of natural gas. Arnold has said that the first phase of his life was 100 percent trying to make money and that its now 100 percent trying to do good.. Click here to request a free trial. By law, natural gas pipelines had to make much of their information public, and around the time Centaurus was forming, more of that information began to appear online. If John Arnold . Enron billionaire frets about public pensions' solvency While the industry as a whole and Centaurus itself have evolved dramatically since our inception, the uncompromising focus of the . Late on Saturday, September 16, Amaranth's senior energy trader Brian Hunter asked John Arnold, Centaurus CEO, whether the hedge fund would like to make a bid for some of Amaranth's positions. But figuring out which organizations were most effective turned out to be vexing. The skeletal software behind the data-sharing project became a slick cloud-based platform, which has now been used by more than 30,000 researchers. A 2017 interview with Wired magazine characterized him this way: Arnold says that now, unless he trusts a researchers work, he no longer believes the findings of any scientific study until he or someone on the staff carefully vets the paper. Laura Arnold has served on the boards of the Innocence Project[29] and the REFORM alliance. [51] They have three children. Texas billionaire quietly steered millions toward groups linked to Centaurus Capital LP - Company Profile and News He is the Executive Director of the Global Health Security Fund, a Geneva-based nonprofit that supports impact investment in global health security innovation. In 2019, the Arnolds announced they were switching their philanthropy from its current modela private foundation, 501(c)(4) nonprofit, and a donor-advised fundto a single limited liability company (LLC). Media reports have declared the field of psychology, if not all of science, to be in a state of crisis. More than $10 million more in Arnold Foundation grants have come since. Scientists believe lasting symptoms following a coronavirus infection is not a single disorder. Those were the early days of the internet, and he managed to gain access to an online bulletin board intended only for card dealers. From the little I know about the science of nutrition, your study makes a lot of sense, Arnold wrote. That's the true story of former star Enron trader John Arnold, who most recently worked as a hedge fund manager. He was formerly Senior Investigative Researcher at Capital Research Center. New research shows that the cells garbage-clearing function deteriorates with ageand opens the door to reversing the process. The preceding news reportmay not be republished or redistributed, in whole or in part, in anyform, without prior written consent of Intelligence Press, Inc. 2023 Natural Gas Intelligence. But what ought to concern conservatives isnt so much the Arnolds giving as how they give. Laura and John Arnold | Arnold Ventures WIRED is where tomorrow is realized. NatGas Conference Call Schedule, This article is part of NGI's Daily Gas Price Index. He is also the Co-founder of PandemicTech, an Austin-based venture philanthropy launched in 2016 that supports health security innovators on the . FILE - In this Aug. 5, 2009, file photo, John Arnold, then head of the hedge fund Centaurus Advisors of Houston, testifies before the The Commodity Futures Trading Commission in Washington, D.C. Centaurus Hedge Fund Fined $75,000 for Nymex Violations Plus, systems of prestige and advancement die hard. In 2002, he founded Centaurus Advisors with $8 millionhis last Enron bonus, paid out just days before the company filed for bankruptcyin Houston, Texas, to invest in futures, options, and derivatives for coal, natural gas, and crude oil. Laura tells me she sees her husbands appetite for riskan appetite she says she sharesas the most obvious link between his approach to trading and philanthropy. Arnold grew up in Dallas. He reportedly earned the company $750 million the year Enron collapsed. Former Amaranth, which was gambling with money from large pension funds, suffered a $6 billion loss and collapsed. But when I visit the Arnold Foundations Houston headquarters in June, Laura has been called away on a family emergency, leaving John to do the talking. 6. John Arnold, Hedge Fund Manager And Former Enron Trader - HuffPost CRC respects confidentiality and will not share your e-mail address. Arnold is still quiet. Given our enormous appetite for policy change, and given the fact that we thankfully are not constrained by one structure, we dont have resources channeled only to the C3. [30] The former foundation was sued over a pre-trial web tool by the family of a victim who was murdered, but the District Court and a U.S. Appellate Court dismissed the complaint. For now it's John Arnold. John Arnold - Centaurus Advisors - Insider Monkey Hayek, Deirdre McCloskey, Elinor Ostrom, Walter Williams, or some of the other economists Ive profiled. Were looking to create an organization of thoughtful failure and fantastic success., If John Arnold does have an identifiable ideology, it is that of a lifelong trader and quant: unsentimental, metrics-focused, interventionist. In everything they do, they want to be evidence-driven, says Stuart Buck, vice president of research integrity at the Arnold Foundation. John Arnold managed to walk away from Enrons 2001 collapse with a seven-figure bonus and no accusations of wrongdoing attached to his name. After graduating from Vanderbilt University he began his career as a trader at Enron. The picture Taubes painted wasnt of a flawed study here or there but of a fundamentally broken scientific culture. Yellen warned inaction could have wide-ranging financial repercussions, including on taxpayers and the federal governments credit rating. John Arnold, the billionaire manager of the Houston hedge fund Centaurus Advisors, told investors and employees Tuesday that he plans to retire, according to people familiar with the . [46] Through his foundation, Arnold has aggressively promoted pension reform in the state of California based on a study his foundation conducted with Pew that failed to mention that Enron or the overall financial crisis contributed to the shortfall. He and a graduate student were developing an online system that would allow researchers to keep a public log of the experiments they were running, where they could register their hypotheses, methods, workflows, and data as they worked. In 2007, Arnold became the youngest billionaire in the U.S.[1] His firm, Centaurus Advisors, LLC, was a Houston-based hedge fund specializing in trading energy products that closed in 2012. You have 3 free articles remaining. [8] He is a member of Lambda Chi Alpha. But compared with the benefit of near-total anonymity, wealthy elites like the Arnolds are forgoing the tax advantages of a foundation or traditional nonprofit to further withdraw from public scrutiny. As co-founders, Laura and John actively engage in the organization's overall direction and daily execution. The foundational studies, Taubes said, looked at the diets and disease rates in various countries, then essentially guessed at which items in the diet were responsible for the countrys good or bad health statistics. Mr. Arnold is also Founder of Centaurus Capital LP, a family office investment fund with a specific focus on the energy industry. Arnold entered the investment industry out of college by working for Enron, the infamous natural gas conglomerate that collapsed in 2001 following revelations of its vast accounting fraud. Luce's career in natural-gas storage includes leading roles with energy and utility company Sempra Energy and with NGS Energy, a developer backed by billionaire energy trader John Arnold's Centaurus Advisors hedge fund. [38], In 2020, Arnold was one of ten billionaires who had given away at least 20% of their wealth. NGI Archives John Arnold, "ph thy" ca gii u c nng lng Arnold, who specializes in trading natural gas, is the former Enron trader who launched Centaurus in 2002 with the $8 million bonus he received from Enron after making the firm $750 million. . are the four most dangerous words, Arnold wrote on Twitter. Like Tom Steyer, George Soros, and a number of other mega-donors on the Left, John Arnold earned his vast wealth as a hedge fund investor. Since April 2011, Mr. Gibson has served as the Chief Investment Officer of Centaurus Capital LP (Centaurus), a private investment partnership with interests in oil and gas, private equity, structured finance, and the debt capital markets. "Looking back what I was doing was geographic arbitrage.". Text. Rank: 590. All rights reserved. LAURA AND JOHN ARNOLD FOUNDATION | Foundation Directory | Candid Written. It was the largest cash bonus ever distributed by the company. Consent Science is built like a building, Arnold says. 5. But if you look at the studies that cant be reproduced and other issues facing science, you start to think: What is evidence? His mother was an accountant (she would later help manage the books at his hedge fund). John Arnold has criticized labor unions, college tuition schedules, and the New York Timess increasing contempt for free speech. Centaurus entered the public eye in 2006 when Arnold bet against the enormous hedge fund Amaranth Advisors, which predicted that natural gas prices would rise and lost $5 billion when the market proved otherwise.
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