Jamie vs. Lloyd
Depending on your point of view, Jamie Dimon is the saint of Wall Street and Lloyd Blankfein is Wall Street’s biggest villain. Or vice-a-versa. Or maybe they’re both villains.
I suppose some might even argue that Dimon, the top honcho at JPMorgan Chase and Blankfein, the top gun at Goldman Sachs, are both saints. But the people in the pro-sainthood camp are keeping their thoughts to themselves these days.
But if charitable giving is one way to measure a person’s generosity and human spirit, Blankfein comes in slightly ahead of Dimon. Based on the most recent tax records for their respective charitable foundations, Blankfein distributed $643,850 to various groups in 2007 to Dimon’s charitable gift giving of $440,383.
Blankfein spread his money around between 38 charitable groups, many of them Jewish organizations. Dimon contributed to 16 different groups, of which a third are based in Chicago. Dimon, of course, lived in Chicago when he headed up Bank One, which eventually merged with JPMorgan.
Dimon’s single biggest donation was a $265,401 grant to Duke University, where one of his daughters goes to school. In 2005, he was a featured speaker at conference at Duke’s business school.
Other charities Dimon contributed to include: the Chicago Public Education Fund, the New York Historical Society and Access Living–a Chicago-based group that works with the disabled.
As for Blankfein, his single biggest contribution was a $100,005 grant to Prep for Prep, a New York-based that helps high-achieving minority students prepare for life at boarding schools. He also gave $100,000 each to New York Cornell Medical Center and the United Jewish Appeal Federation.
The tax returns detailing the 2007 contributions were made public last fall. Contributions for 2008 won’t be out until later this year.
But it’s a safe bet that the level of giving by both men will be down in 2008, given last year’s horrendous stock market performance.
However, with Goldman and JPMorgan both printing money again each man’s favorite charities should be expecting better things this year.