Who is a billionaire who has donated $1 million a week

It is not new that billionaire Rob Hale contributes to non-profit organizations. According to Forbes, the co-founder and president of Granite Telecommunications – a communications company based in Quincy, Massachusetts – is estimated to be worth $5 billion from his stake in the company. According to the portal, throughout 2022, the businessman and his wife, Karen, donated (and will still donate) US$ 1 million (R$ 5.19 million) a week to organizations committed to doing good.

Entrepreneur and visionary, Rob, in addition to leading the growth and development of Granite’s business and team, is known for his philanthropic work alongside his family. His involvement with social causes has earned him decorations and honors over the years.

According to his LinkedIn profile, he was awarded the Boston Red Sox Jimmy Fund Award in 2014 for his commitment to saving lives, and in 2017, alongside Karen, he was remembered by the Breast Cancer Research Foundation with the Carolyn Inaugural Humanitarian Award. Lynch.

The recognition of the man considered the second richest businessman in Boston by Forbes doesn’t stop there. In 2018, the honor was from Brigham and Women’s Hospital with the Heritage Key Award. In addition, Partners Healthcare greeted the Hale’s with the Jack Connors Philanthropic Leadership Award, as the professional profile details.

In the year 2019, The Chronicle of Philanthropy listed the entrepreneur as one of America’s 15 Most Generous Philanthropists. Granite was also lauded, in 2019, as the most charitable company in Massachusetts.

Hale has been recognized by numerous organizations and publications as a leading entrepreneur. Among them, by the Boston Business Journal – Power 50, which hails the 50 most powerful people in Boston. He has also received the Ernst and Young Entrepreneur Award and has been hailed as one of the 25 most influential people in American telecommunications several times.

As per his profile on the social network, he also owns FoxRock Properties, a Boston-based real estate company. He founded Copley Equity Partners, a private equity firm that invests in small and medium-sized organizations with significant growth prospects.

This year, as Forbes details, he wrote checks worth tens of millions of dollars to prominent institutions. In an interview with The Patriot Ledger, the billionaire points out that all organizations “are great, they have an impact on the community, but they are very small”.

The goal is that by the end of 2022, US$ 52 million will be donated to at least 52 groups. The Patriot Ledger points out that the amounts are intended for organizations dealing with domestic violence, childhood cancer, palliative care, among others.

In an interview with the portal, Hale said organizations should be able to invest $1 million and withdraw at least 5% back – $50,000 – per year. “It will give them a more stable future and the ability to say, ‘OK, we know where the money comes from and we can focus on doing a great job.'”

More about Granite

Hale is a co-founder of the Quincy, Massachusetts-based company Granite Telecommunications. Founded in 2002, it employs over 2,500 people. According to Entrepreneur’s LinkedIn, through the industry are provided voice and data communication products and services to more than two-thirds of the Fortune 100, including 18 of the top 20 US retailers.

Privately held, it generated more than $1.6 billion in sales last year and has no long-term debt, as detailed by Forbes. In expansion, in 2019 it was named Massachusetts’ most philanthropic company after donating $25 million to community organizations including Boston Children’s Hospital and the Dana-Farber Cancer Institute.

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