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ACLU loses key hedge fund backer

February 01, 2010  


Gelbaum's gift withdrawal has sparked speculation that the billionaire investors' finances could be in trouble.

Hedge fund veteran David Gelbaum--famed for his role in helping build Princeton-Newport Partners into the first market neutral hedge fund, and more recently for his clean technology investments--recently made headlines for withdrawing his annual $20 million gift to the American Civil Liberties Union for 2010. Gelbaum's gift withdrawal, which represents 25% of the ACLU's annual budget and is said to be due to market conditions, has sparked speculation that the billionaire investors' finances could be in trouble.


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