Robin Hood Foundation Raises $50 Million For Charity, Shows Wall Street Has a Heart

The Robin Hood Foundation had its annual gala on Monday night at the Javits Center in New York City. Many of the Wall Street masters of the universe were in attendance as the crowd totaled nearly 4,000.

Brian Williams of NBC News, a director of Robin Hood, was again master of ceremonies. Seth Meyer of SNL gave an entertaining speech and ably assisted Williams. Also on stage were Paul Tudor Jones, the founder of Robin Hood, and Richard Saltzman, executive director. Rihanna brought the house down to close the affair. The room was filled with many celebrities including Gov. Chris Christie of New Jersey.

Critics of Wall Street executives might be surprised to hear that the affair raised $58 million for poor and needy New Yorkers; annually the gala has raised similar amounts. The Board of Directors of Robin Hood alone gave $10 million last night.

Robin Hood turns over 100% of its contributions to the needy. The Board of Directors pays for all the operating expenses of the organization. Google's Eric Schmidt said, "There is literally no foundation, no activity, that is more effective." Read more about Robin Hood's impact here.