Wednesday, June 19, 2024

Marc Anthony, JLO Have Billionaire Pal: Call Him for Your Tax Problems, Kids!


I wrote this story back on October 25th. Marc Anthony and Jennifer Lopez have a lovely billionaire friend who donated $250,000 to JLO’s Maribel charity.

The charity doesn’t do much, but Ray Dalio, who runs an $80 billion hedge fund, obviously likes the couple. Maybe he can help Marc get out of tax trouble.

Here’s the story from October:

Jennifer Lopez and Marc Anthony‘s twins Max and Emme are going to work! They’re modeling for Gucci.

Gucci is so thrilled that they say they’re donating $50,000 to Lopez’s Maribel Foundation in lieu of a straight payment to the kids. They also say they’re giving $1 million to a UNICEF program for schools in Africa.

That $50,000 may not go so far. In 2008, according to its tax filing, Maribel paid a staggering and unbelievable $90,000 alone to a charity consultant called Legacy Strategies of Los Angeles. The charity only had approximately $350,000 in its bank account.

Of that total, JLo had put only $104,500 into the account– just enough to cover the Legacy bill. The rest of Maribel’s balance — $250,000– came from philanthropist Raymond Dalio. Dalio– who is married to a descendant of the Vanderbilt-Whitney family–runs Bridgewater, an $80 billion hedge fund, out of Greenwich, Connecticut.

Dalio likes celebrities and their causes: he donated $1.23 milliion to quirky film director David Lynch‘s Transcendental Meditation group through his own Raymond Dalio Foundation. He’s a heavy hitting philanthropist who gave away $12.3 million in 2008 including three million dollar bequests.

What’s Dalio’s connection to JLO? He and JLO’s sister, Lynda Lopez, an officer of the Maribel Foundation, are each graduates of Long Island University. Dalio did get his MBA at Harvard, however.

As for Gucci: In 2007, the Gucci Foundation was created so it could receive money donated to Madonna’s all star event for the Kabbalah Center for their Malawi charity. They split the funds between the Madonna cause and UNICEF.

Last year the Gucci Foundation gave UNICEF an underwhelming $11,498. So getting the Lopez-Anthony twins must have really inspired them.

But what exactly Maribel is in business for remains a mystery. On its website, Maribel lists goals of “opening telemedicine centers” and “raising healthy children.” In addition to the Legacy free, last year Maribel also spent $36,820 on legal fees, and $21,000 more on its website and a fundraising video.

So who knows what Gucci’s $50K is going for?

So far Maribel hasn’t listed any accomplishments beyond paying a lot of big fees. Of course, now that JLo is getting $12 million from “American Idol,” she’ll have lots of money to donate to her own charity.

Roger Friedman
Roger Friedman
Roger Friedman began his Showbiz411 column in April 2009 after 10 years with Fox News, where he created the Fox411 column. His movie reviews are carried by Rotten Tomatoes, and he is a member of both the movie and TV branches of the Critics Choice Awards. His articles have appeared in dozens of publications over the years including New York Magazine, where he wrote the Intelligencer column in the mid 90s and covered the OJ Simpson trial, and Fox News (when it wasn't so crazy) where he covered Michael Jackson. He is also the writer and co-producer of "Only the Strong Survive," a selection of the Cannes, Sundance, and Telluride Film festivals, directed by DA Pennebaker and Chris Hegedus.

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