News Summary
The Samueli Foundation has announced a generous commitment of $15 million to support local non-profit organizations in Orange County. This funding aims to bolster various community needs and emphasizes the foundation’s long-standing dedication to philanthropy. Co-founded by Henry and Susan Samueli, the foundation has made significant contributions to education, health, and social justice initiatives in the area. Local leaders anticipate positive changes as these resources help empower future generations of innovators and community leaders.
Exciting News for Orange County Non-Profits: Samueli Foundation Pledges $15 Million
Orange County is buzzing with excitement this week as the Samueli Foundation has announced a generous commitment of $15 million aimed at supporting local non-profit organizations. This initiative is a significant step toward addressing various needs in the community, and it’s clear that the foundation’s commitment to charitable giving continues to thrive.
Who Are the Samuelis?
The Samueli Foundation is co-founded by Henry and Susan Samueli, who are well-known local philanthropists and the brains behind Broadcom, a company they started in 1991. With Henry also serving as the long-time chairman of Broadcom and his co-ownership of the NHL’s Anaheim Ducks since 2005, it’s no wonder that their names have become synonymous with prosperity and philanthropy in Southern California.
Impact on the Community
This latest pledge is part of an ongoing effort to enhance the quality of life in Orange County, where the Samuelis are also involved in the ambitious $4 billion OCVibe development around the Honda Center in Anaheim. Their philanthropic endeavors are nothing short of remarkable, as they have donated over $1 billion from the foundation since Broadcom went public in 1998.
The Samueli Foundation focuses on several critical areas, including STEM education, integrative health, youth services, social justice, and Jewish culture. With a valuation of approximately $362 billion, Broadcom has been a significant source of funds for these initiatives, as Henry Samueli has sold more than $1.5 billion in shares since the company’s IPO.
Commitment to Education
Education is another focal point of the Samueli Foundation’s efforts. They are notable members of the Giving Pledge, promising to give away the majority of their wealth during their lifetimes. Their generosity has extended to institutions such as UCLA, where they made a historic $100 million gift to the Samueli School of Engineering. This gift remains the largest ever received by the school, with their total donations to UCLA nearing $200 million.
Most recently, in June 2023, the Samuelis pledged an additional $50 million to the University of California, Irvine (UCI). This funding will particularly focus on engineering research that aims to improve health, the environment, and society at large. With their contributions, three new multidisciplinary research institutes will be developed at the Henry Samueli School of Engineering at UCI.
A Legacy of Giving
Over 25 years, the Samuelis’ contributions to UCI have exceeded $300 million. This includes a significant $200 million pledge for the Susan & Henry Samueli College of Health Sciences in 2017. The impact of their generosity is palpable, with local leaders, including UCI Chancellor Howard Gillman, consistently recognizing how their efforts enable crucial breakthroughs in research that profoundly affect public life.
What This Means for the Future
As the Samueli Foundation prepares to distribute this latest $15 million to local non-profits, the community is hopeful for the positive changes that will emerge. These resources promise to strengthen the fabric of service organizations, all while inspiring a future generation of innovators, activists, and leaders who will carry on the philanthropic legacy the Samuelis have established.
Orange County residents can surely look forward to the fruits of this generous donation, as it reinforces the message that supporting one another is a top priority in the region. With the Samueli Foundation at the forefront of these efforts, the sky’s the limit for what’s possible in the local philanthropic landscape!
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Additional Resources
- OC Register: OC Nonprofits Say They Need Help
- OC Business Journal: Henry and Susan Samueli
- OC Register: Samueli Foundation Endows $3 Million
- Inside Philanthropy: Megadonor’s Latest Gift
- OC Business Journal: OC’s Wealthiest 2024 – Henry Samueli
- Wikipedia: Philanthropy
