The LA84 Foundation is a dubious group we’ve looked into before, from asking whether they’re a public good or private grift to questioning their relation “legacy” (relationship with Blackstone) and their failure to meet basic regulations. We debunked their pseudo-commitment to “social justice” at the 2018 edition of their annual summit. A return was in order.
The theme of this year’s LA84 Foundation Youth Summit is “play equity.” In the spirit of today’s program, let’s take a moment to test your knowledge of the LA84 Foundation’s real equity, from real estate to finance…
The "successful" 1984 Olympics generated over $225 million in surplus income and $93 million for the City of Los Angeles and Southern California.
These surplus funds went to the LA84 Foundation, which is an unaccountable non-profit conveniently removed from any democratic processes and not part of the City of Los Angeles, technically or symbolically.
Founded “to promote and expand youth sports opportunities in Southern California and to increase knowledge of sport and its impact on people's lives,” the LA84 Foundation invests in which of the following companies?
Blackstone is the largest owner of real estate in the entire world. They’re also destroying the Amazon and driving eviction and gentrification in Inglewood (and all over California). How much “equity” did the LA84 Foundation have invested in Blackstone as recently as 2016?
How much does the LA84 Foundation own in real estate holdings?
How much does the LA84 Foundation spend on youth sports per year?
Share your knowledge on social media and please tag #LA84Summit, #NOlympicsAnywhere, and @LA84Foundation – and follow @NOlympicsLA while you're at it!
Read on here to learn more about how the LA84 Foundation uses public money for private gain.