Brokerage firm founder Charles Schwab rode the emerging wave of online investing to amass
client assets of over $2 trillion, and he now has a net worth of $6 billion. He's now become one of the biggest patrons of corporate-style school reform, investing millions in privately-run charters schools like KIPP, Teach for America, The New Teacher Project, and Michelle Rhee's operation, and Stand for Children. Schwab also helps bankroll right-wing ed think tanks like the Fordham Institute.
From Inside Philanthropy...
We're not sure why charters and finance billionaires go together like peas and carrots, but we'll save the theorizing for another article. What's notable about Schwab is that he's deeper into this area than many of the more glitzy hedge fund donors who get so much attention.
A $1 million gift to the Charter School Growth Fund in 2011 stands out, not only because of the size of the gift but also because of its destination. Founded in 2005, the Charter School Growth Fund Schooling in the Ownership Society: Charles Schwab -- A core member of the 'charter cabal':
