NET WORTH: $750 million, estimated
SOURCE OF WEALTH: Goldman Sachs
FUNDING AREAS: Education, Youth, Jewish causes, Health, Human Services & NYC community
OVERVIEW: Richard Friedman and his wife Susan conduct their philanthropy through the Richard A. and Susan P. Friedman Foundation, which primarily supports education, hospitals, health associations, and Jewish causes. A $20 million gift earlier in the decade established the Friedman Brain Institute at Mount Sinai Medical Center. Friedman's alma mater, Brown University, is another big winner. In a recent fiscal year, the couple's family foundation gave away $2 million.
BACKGROUND: Richard A. Friedman earned his B.A. from Brown University in 1979 and his MBA from the University of Chicago in 1981. Friedman joined Goldman Sachs the year he graduated from college, and became partner in 1990. He is currently head of the merchant banking division at Goldman.
EDUCATION: The Friedmans have strongly supported his alma mater, Brown University. In a recent fiscal year, the couple's foundation gave the school two grants totalling $2.5 million. Last decade, the Friedmans gave $5 million to Brown to fund a 24-hour study center. Friedman is on the board of fellows at Brown. The Friedman Foundation has also recently supported Horace Mann School, University of Chicago, Comprehensive Development, a "nonprofit organization that provides free academic, career readiness and social services to 3,500 New York City public high school students and alumni," and President & Fellows of Harvard College. The couple's son Josh is a Harvard graduate.
YOUTH: Recent grantees include New Yorkers For Children, Girl Scouts of Greater New York, Boy Scouts of America, Harlem RBI, and Harlem Children's Zone. The couple also supports youth sports outfits such as Street Squash.
HEALTH: The Friedman's largest grant has gone toward health: In 2010, they pledged $20 million to Mount Sinai Medical Center to establish the Friedman Brain Institute. Friedman has sat on the board of trustees of Mount Sinai. The couple was also influenced by their son Josh, who has an avid interest in neuroscience and is a medical student at Icahn School of Medicine at Mount Sinai. Other recent health grantees include Hospital for Joint Diseases, New York Presbyterian, Dubin Breast Center, Memorial Sloan Kettering Medical Center Foundation, and Autism Speaks.
LOOKING FORWARD: The couple's giving so far has remained close to New York City. Their giving has seen an uptick recently, but Friedman is still very much engaged in business for now.
Richard A. and Susan P. Friedman Family Foundation does not provide a clear avenue of contact, but below is an address:
Richard A. and Susan P. Friedman Family Foundation
Bowling Green Sta., P.O. Box 73
New York City, NY 10274