By barring or discouraging charities from wielding the most effective tools of capitalism, he insists, we limit their ability to fight the social problems they were formed to tackle on a truly significant scale.
Pallotta is the founder of Pallotta TeamWorks, the company that invented the AIDSRides and Breast Cancer 3-Days. In less than nine years, these events raised an unprecedented $556 million and netted $305 million for these two causes. The subject of a 2002 Harvard Business School case study, the organization fundamentally altered the paradigm for charitable special-event fundraising. Its event concepts are now used all over the world to raise tens of millions of dollars annually for important causes. Pallotta is a graduate of Harvard University, where he created Ride for Life, a 4,200-mile cross-country bike ride to fight hunger.