Article on “John Arnold Made A Fortune on Enron, Now He’s Declared War On Science,” by Rickardo Ramchand Section D-594

John Arnold and his wife Laura are a young billionaire couple in Houston that created their own Foundation known as the John Arnold Foundation. Arnold started his own hedge fund, Centaurus Energy, where he became hedge fund competitor, but abruptly retired at the age of 38 to focus full time on philanthropy. Arnold’s reform efforts have focused on fixing nutrition science. In 2015 the Arnold Foundation paid journalist Nina Teicholz to investigate the scientific review process that informs the U.S Dietary Guidelines. Laura and John Arnold didn’t start the movement to reform science, but they have done more than anyone else to amplify its capabilities by approaching researchers out of the blue and asking whether they might be able to do more with more money. The foundation’s Research Integrity initiative has given more than $80 million to science critics and reformers in the past five years alone. In 2001, even as Enron was collapsing on an accounting scandal that covered up billions in debt, he still earned $750 million for the company. As Enron neared bankruptcy, executives scrambled to hold its operation together, and Arnold was given $8 million, the biggest payout of all, days before Enron filed bankruptcy. He started another company by the name of Centaurus, which reportedly generated a 317 percent return overall. In 2010 Centaurus experienced its first annual loss.

Leave a Reply

Your email address will not be published. Required fields are marked *