The Robin Hood Foundation is taking its Hurricane Sandy relief efforts to the international stage with a fundraising concert tomorrow night in New York featuring some of the biggest names in music.
Dubbed "12-12-12," the 7:30 pm concert at Madison Square Garden will include performances by Bon Jovi, Eric Clapton, Billy Joel, Alicia Keys, The Rolling Stones, Bruce Springsteen, Kanye West, The Who, Paul McCartney and others. The show will be broadcast to an estimated two billion people around the world. Proceeds from the concert will go to the Sandy relief fund that Robin Hood established in early November shortly after the New York City area was crippled by the storm.
Robin Hood, founded by Tudor Investment Corp.'s Paul Tudor Jones and now led by Maverick Capital's Lee Ainslie, has already netted $15.6 million in contributions to its Relief Fund, not including ticket sales or sponsor contributions to the concert. Some $10.5 million has been distributed to more than 100 groups, according to a spokesperson for Robin Hood.
The idea for the concert came from two of Robin Hood's non-hedge fund board members, Clear Channel Entertainment Enterprises president John Sykes and Weinstein Company co-founder Harvey Weinstein. They hatched the plan with Jim Dolan, executive chairman of The Madison Square Garden Company, and modeled it after their 9/11 benefit "The Concert for New York City," held in 2001.
"Robin Hood has launched a large-scale relief effort to aid our neighbors in the tri-state area whose lives have been shattered by Hurricane Sandy. Within hours of the storm, Robin Hood- funded non-profits were providing blankets, hot food, heaters, generators and more to residents in Red Hook, Coney Island, the Rockaways and all across the region," the group explained on its website. "We are now moving into phase two of our recovery effort, providing for the long-term needs created by the storm including: housing, job-training, legal counseling and more. The need is great. Please contribute generously, and know that every cent of every dollar you donate will go the best community organizations that are working to help those whose lives have been torn apart."
See also: Robin Hood helps Sandy victims