Who Wants to Be a Movie Star? Not Henry Kravis.
Perhaps you’ve heard of the new film lampooning the lavish mansions acquired by Henry Kravis, the KKR co-founder and leveraged buyout king. After all, protesters have been idling outside Kravis’ Upper East Side apartment with flatscreen televisions attached to sandwich boards, showcasing filmmaker Robert Greenwald’s little spoof to passersby. The stunt coincided with a new campaign by the Service Employees International Union to highlight the excesses of the private capital industry, as well as the sweet fifteen percent tax rate on capital gains.
As long as we’re on the subject, Portfolio has just released its list of the most philanthropic Wall Street moneymen, just in time for the holidays. Who happens to be number ten on the list? You guessed it: Henry Kravis. Is the practice of buying and stripping companies of employees and pension plans worth his annual $12.8 million in donations to museums and poverty programs? We report, you decide.