Over time and experience, Barry Sternlicht (MBA 1986) has developed an approach to philanthropy that bridges both his professional and personal lives, delivering impact to both. He first started focusing on giving as chairman and CEO of Starwood Hotels and Resorts, a company he founded in 1995 and led through 2005. He set out to build a company with a “good soul,” he says.

“We were like the U.N.—we had one of everything—Hilton, Hyatt, Doubletree, and more… and so we had to create a strong Starwood culture. I did that around philanthropy, encouraging charitable work in the communities we served,” he says.

Around the same time that Sternlicht was building Starwood, his young son was diagnosed with diabetes, and Sternlicht started making gifts to support research. Later, he and his former wife launched a family foundation to provide deeper philanthropic engagement. From there, his giving has followed a familiar trajectory, according to Inside Philanthropy (paywall): Driven by his own personal inspiration, Sternlicht’s giving has become increasingly targeted on backing cutting-edge research with the greatest chances of identifying a cure and maximum impact.

Now that his children are young adults, Sternlicht is handing the tradition down. The chairman and CEO of the private alternative investment firm Starwood Capital Group cites as inspiration his own father, a Holocaust survivor who instilled in him the value of giving back.

READ MORE

Post a Comment