Raser’s Edge: Observation Deck—Put your money where your values are

On Sunday, May 19, America’s richest Afro-American, Robert E. Smith gave the commencement address at Morehouse College and announced that he would pay off all the 2019 graduates’ college debt.  The estimated cost to Smith would be about $40 million.

On Wednesday, May 15, it was announced that Robert Mnuchen, the father of Trump’s Treasury Secretary Steven Mnuchen, purchased at auction a Jeff Koons 3-foot tall sculpture of a stainless steel rabbit for $91 million.   It was then revealed that Robert Mnuchen, who is an art dealer, purchased the sculpture for Steve Cohen, a hedge fund billionaire.

Both Robert E. Smith and Steve Cohen certainly benefited from Trump’s generous tax cut gift to the very wealthy. However…  Smith will spend about $40 million to help college students start their adult life in the world without debt.  Cohen spent $91 million to buy a metal rabbit.  Draw your own conclusions.