Hedge fund bazillionaire Louis Bacon is donating 90,000 acres to conservation. His donation is record breaking in size as it is the largest donation to the U.S. Fish and Wildlife Service ever. According to Forbes:
New York hedge fund billionaire Louis Bacon announced his intentions Friday to donate 90,000 acres of land in Colorado toward the creation of the Sangre de Cristo Conservation Area. The donation is the “largest single conservation easement” given to the U.S. Fish and Wildlife Service, according to U.S. Interior Secretary Ken Salazar, and will help to preserve a southern portion of the state that includes mountain grasslands, alpine forests and some of the state’s highest peaks.
See, not all hedge fund managers are greedy bastards. Some, like Bacon, do care about others and are giving back. In fact, it is hoped that this generous donation by Bacon will spur other wealthy people to make similar donations:
According to the Denver Post, Interior Secretary Salazar is hoping the donation will motivate other large land owners in the area–among them billionaire Ted Turner–to begin similar partnerships with the government. Under the current agreement, the land is still owned by private individuals like Bacon, but will be overseen by U.S. Fish and Wildlife. Activities such as hunting and ranching are still allowed as long as they are maintained within healthy, conservatory limits.
Will Turner and others do the same? I guess we will have to wait and see.