Stories

SaveSave story

Private equity investor commits $10 million for Puerto Rico relief

Destroyed community in Toa Alta, Puerto Rico. Photo: Gerald Herbert / AP

Private equity investor Orlando Bravo has pledged up to $10 million for Puerto Rico relief efforts, which is believed to be the largest such donation since Hurricane Maria hit the island more than a week ago. Tomorrow he also will participate in his second airlift of supplies to Puerto Rico's western coast, which is opposite San Juan and harder to reach.

Why it matters: Many people in Puerto Rico are desperate, particularly those in smaller towns far from the capital, and tomorrow's airlift will include 100 water purification systems and satellite phones.

Who? Bravo is the co-founder of Thoma Bravo, a tech-focused private equity firm with more than $17 billion in assets under management. He was born in the Puerto Rico city of Mayagüez, where his parents still live. He was unable to reach them for several days after the storm hit.

How: Bravo is committing up to $10 million, including an initial $2 million outlay, to a new foundation he formed called Podemos Puerto Rico, which will sponsor relief and recovery efforts both now and in the future.

Statement from Bravo:

Our Foundation's gift and efforts are focused on providing direct and targeted relief to communities in Puerto Rico that have been difficult to reach and lag in aid. Through efficient use of capital, our supply chain expertise and our knowledge of local communities in Puerto Rico where my family grew up, we believe we can make a big impact... There will hopefully be significant Federal Aid coming to the island. But centralized efforts, no matter how large and well-coordinated, still leave gaps... In the future, when central relief activities come to an end and the media goes home, there will be a further need for direct philanthropic efforts to help ensure the continuity of progress.
Axios 10 hours ago
SaveSave story
Featured

Axios situational awareness

🇮🇱 Trump asked Bibi if he cares about peace — 📢 Kellyanne is rising, again — 🎖️ Ronny Jackson has confirmation problems

Sign up for Mike Allen's Axios AM.

Jonathan Swan 10 hours ago
SaveSave story
Featured

Trump asked Netanyahu if he genuinely cares about peace

Israeli Prime Minister Benjamin Netanyahu and President Trump at the White House in March. Photo: Mandel Ngan/AFP/Getty Images

In a phone call last year with Bibi Netanyahu, President Trump said something that shocked some of the people who helped prepare his briefing materials for the conversations. According to three sources familiar with the call, Trump asked Bibi bluntly if he actually cares about peace or not.

The details: Trump was pressing Bibi on the importance of striking a "deal" for Mideast peace. He'd read news reports about Bibi planning to build additional settlements to please his conservative base in Israel. Trump thought Bibi was unnecessarily angering the Palestinians. So, in the course of a longer conversation that was mostly friendly and complimentary, he bluntly asked Bibi whether or not he genuinely wants peace.