Unicef Has a Growing Circle of Ultra-Wealthy Individuals on Tap - Kanebridge News
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Unicef Has a Growing Circle of Ultra-Wealthy Individuals on Tap

By ABBY SCHULTZ
Sat, Sep 28, 2024 7:00amGrey Clock 4 min

During the Covid pandemic in 2021, Silicon Valley venture capitalist John O’Farrell organised a call with several tech CEOs to urge them to back Unicef’s efforts to distribute vaccines globally as he and his wife, Gloria Principe, were doing.

Stewart Butterfield , co-founder and—at the time—the CEO of Slack, and his wife, Jen Rubio , co-founder and CEO of Away, “gave US$25 million on the spot,” and challenged other tech CEOs to give, too, says Kristen Jones, Unicef’s fundraising manager, global philanthropy.

O’Farrell is on the national board of the organisation and a member of the Unicef International Council, a network of 150 wealthy individuals from 22 countries.

“We were trying to mobilise resources really quickly,” Jones says. In this instance, an International Council member showed how the “influence and trust” of individuals and their network can be extended to Unicef and its mission.

Unicef National Board Chairman Bernard Taylor, an arbitrator and mediator at Judicial Arbitration and Mediation ADR Services and a retired partner with Alston & Bird, is also a member of the organisation’s International Council.
Courtesy of Unicef

Unicef, officially the United Nations Children’s Fund, is a U.N. agency focused on humanitarian and developmental aid to children. It relies on funding from governments and intergovernmental agencies. But it also depends on the private sector, from US$1 gifts provided by individuals across the world to giving by corporations, foundations, and wealthy donors.

Total giving to Unicef from the private sector totalled US$2.07 billion last year, representing 23% of total revenue, according to its annual report. Of that total, US$829 million was unrestricted—money that is particularly valuable because it’s flexible.

“That funding is critical for us to be able to cover underfunded operations, emergencies or situations of armed conflict that are not in the headlines anymore,” says Carla Haddad Mardini, director of Unicef’s division of private fundraising and partnerships.

The International Council was formed in 2017 not only to boost private-sector donations, but to create a powerful group of individuals who could bring their knowledge, expertise, vision, and networks to the organisation, Haddad Mardini says.

“We don’t see them as donors, we see them as partners,” she says.

That’s because the council’s engagement with Unicef goes behind giving. “They support by opening their networks to us, thinking with us about the global problems that make children more vulnerable,” Haddad Mardini says. “It’s invaluable in terms of the advocacy that they do and the influence that they exert.”

The council, of course, also provides needed funding. Since it was formed, members—who give US$1 million when they join—have donated more than US$552 million.

This past year, the council brought on 15 new members, half from countries in the Southern Hemisphere, including India, Vietnam, Indonesia, and Mexico. The incoming chair is Muhammed Aziz Khan, founder and chairman of the Summit Group, a Bangladesh industrial conglomerate, whose foundation is focused on the education of vulnerable children in the country.

“We want this group to be as diverse as possible,” Haddad Mardini says. “They’re not there for their own visibility, they are there to really meaningfully and purposefully make a difference.”

Bernard Taylor, an arbitrator and mediator at Judicial Arbitration and Mediation ADR Services and a retired partner with Alston & Bird, an Atlanta-based international law firm, has been an active supporter of Unicef for years, joining its Southeast Regional Board in the U.S. in 2007. In 2018, he joined the council and this past summer, became chair of the organisation’s National Board.

One of Taylor’s earliest experiences with Unicef was a trip to Madagascar not long after the island in the southwest Indian Ocean off the coast of Africa had been hit by successive cyclones.

“It was really eye-opening from the standpoint of seeing the despair that so many people were living through and that the children were living through,” Taylor says. After returning home and taking his children on a trip to the local mall to buy supplies for a school project, he was overwhelmed by the abundance that surrounded them.

“Just a short plane ride away, people were living in despair and death—we had to do something about that, and what I saw was that Unicef was doing something about it,” he says. “That’s how I got involved and committed.”

Often, the council responds to emergencies such as the urgent need for global vaccine distribution during the pandemic. In 2022, the council raised US$3.2 million to support Unicef’s work in Afghanistan, and another US$5.5 million in response to the war in Ukraine.

But as Haddad Mardini says, the council also goes beyond check-writing.

“We are all focused on pulling together our resources, our expertise,

our networks,” Taylor says. “As a private philanthropy, we’re able to be nimble, to be fast and flexible in ways that can address the issues that Unicef is struggling with. As a council member, I’m able to utilise my influence with peers and business leaders and even governmental entities.”

Recently, he spoke with one of Georgia’s U.S. senators to inform him about Unicef’s activities and to get his support. “Maybe you would call us extenders of influence—we increase, substantially, the influence and the ability of Unicef to do its work.”

The experience of Taylor, O’Farrell and others as private sector executives can also be influential to the thinking of Unicef’s executives, Jones says.

“They’re bringing their private sector experience and what they’re seeing in their partnerships,” she says. “It’s a space where they feel comfortable being very open and candid. It’s a nice dialogue with leadership.”



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Gold miners are emerging as a compelling way to navigate market uncertainty, with analysts pointing to strong cash flows, attractive valuations and rising profit margins. As gold prices stabilize above US$4,000 an ounce, mining stocks could offer investors both downside protection and long-term upside.

By Paul R. La Monica
Thu, Aug 6, 2026 3 min

Gold is one of the market’s go-to hedges in rocky times. Don’t forget that gold miners’ stocks are too.

The stock market’s gains in 2026 belie the rocky macroeconomic picture: elevated inflation, heightened geopolitical tensions, and jitters about the artificial-intelligence trade. That backdrop, in theory, should be the time for gold to shine. Instead, the price of the yellow metal has tumbled more than 5% so far, after last year’s blistering 65% rally. In part, the U.S. dollar’s recovery has stymied gold, which benefited from the greenback’s weakness in 2025.

Even with the precious metal’s recent weakness, gold mining stocks could be the best way to profit from this year’s uncertainty.

Gold miners “are a valuable hedge against macro risks that would likely be damaging for equities,” BCA Research’s Noah Weisberger and Rishabh Shah wrote this week.

Concerns about the Federal Reserve’s next moves to tackle inflation, the increasingly crowded AI trade, and steep valuations for tech stocks are just some of the drivers that could help gold’s price get on even footing— and lead to even bigger gains for miner stocks.

These stocks’ prices tend to outpace gold’s moves, because the companies have fixed operational costs. So when gold’s price rallies, their profit margins soar, and vice versa. For instance, the VanEck Gold Miners GDX +7.39% exchange-traded fund has fallen 11% this year as the metal has slumped.

Now, gold’s price just needs to stabilize to help miners’ stocks take off, and that seems to be happening. The precious metal has recently found support above the $4,000 level, and has stuck in a narrow range since the end of June. But its price rose ever so slightly in July, ending a four-month losing streak for the metal. Technical analysis also suggests that gold is due for a comeback.

Barron’s recently wrote that the pullbacks for both gold miners and the metal itself are overdone. Senior technical analyst Doug Busch noted that the VanEck ETF is on the “verge of a breakout” and has the potential to hit $11o in early 2027, up more than 40% from its current price.

Gold miners also have more than their role as a market hedge going for them. Their fundamentals are solid, too, says Chris Mancini, portfolio co-manager of the Gabelli Gold Fund.

“Precious metals miners are generating substantial amounts of free cash flow given profit margins of over $2,000 per ounce, and are returning this cash to shareholders through buybacks and dividends,” he said in an email.

“Buying the miners is a cheap way to get exposure to the price of gold,” he added. His fund owns Newmont NEM +6.71%, a Barron’s stock pick last year, and Agnico Eagle Mines as top holdings, as well as miners Northern Star Resources, Endeavour Mining, and Kinross Gold K+8.59%.

Miners are better businesses than they used to be, the BCA team added.

“Capex is more disciplined, margins are high and rising…and they are largely independent of the AI story,” Weisberger, BCA’s head of equities, and Shah, a senior analyst, wrote.

That last part is key. AI is disrupting the software industry and many other services and information-oriented businesses, and investors have piled into AI stocks. But ChatGPT, Claude, Grok, and other large-language models aren’t going to replace the need to mine for metals.

“Equity portfolios can benefit from exposure to quality that is uncorrelated to AI risk, and gold miners fit the bill,” the BCA team said.

They recommend that investors buy the VanEck Gold Miners ETF, which owns top miners such as Agnico, Barrick Mining ABX +7.24%, and Newmont.

An important bonus for big gold miners’ stocks is that their valuations are attractive after the gold’s pullback, too. The VanEck ETF is now trading at just a little more than nine times next year’s earnings estimates. That’s a big discount to its five-year average price-to-earnings ratio of 14, according to FactSet.

What’s more, the ETF is currently valued at a more than 50% discount to the S&P 500 SPX -0.17%, which is trading for about 19 times earnings estimates for 2027. Mining stocks have typically traded at just a 25% discount to the broader market over the past five years. So there is significant upside for the group if valuations move back toward normal levels.

One factor that complicates mining stocks as a market hedge, of course, is if stocks bounce back, which has been the case so far in August.

But both the market and economic outlooks remain cloudy, and investors remain nervous about the Fed’s next moves and AI stocks. Gold miners should do just fine, even if the anxious mood on Wall Street persists.