Orlando Bravo, a Puerto Rican billionaire and co-founder of the private equity firm Thoma Bravo, donated $250,000 to the relief fund Support Surfside — created to help recovery efforts in the aftermath of the Surfside Tower collapse in Miami.
via People:
Bravo recently moved to Miami Beach, just a few miles south of the tower that partially collapsed early Thursday morning.
“The Bravo Family Foundation is honored to fill a void of need in the Surfside tragedy, before long-term insurance and government assistance is put in place,” Bravo tells PEOPLE in a statement. “Our foundation understands the immediate needs that arise from tragedies like Surfside, and we want to help these families rebuild their lives. We encourage other business leaders, philanthropists and community partners join in the effort to help the victims of this horrific, saddening event.”
He tells PEOPLE that he hopes this donation will serve as a call to action for other entrepreneurs to do the same, particularly as Miami experiences a major influx of new tech money.
The donation to The Surfside Hardship Fund comes in addition to the $750,000 already mobilized by the South Florida community, bringing the fund’s total amount to $1 million so far.
The Bravo donation has been earmarked to support temporary housing for displaced families and therapy for all victims.
As of Sunday morning, at least 156 people remain missing, and five people have died. Additionally, hundreds of residents have been displaced, losing their homes and all of their possessions in the deadly collapse.
City of Miami Mayor Francis Suarez visited the Surfside Community Center on Sunday to speak with locals and accept the Bravo Family Foundation’s donation.
“Aside from the constant search and rescue efforts, it’s crucial to make sure residents displaced by this horrible tragedy have an immediate place to stay and it’s equally important that everyone has adequate access to the counseling they need,” said Suarez. “I want to thank Orlando Bravo, who is a new member to this community, for stepping up and making such a generous contribution to these efforts. It is because of people like him that we are united in helping each other.”
The Bravo Family is well known for their charitable contributions. They donated $10 million in the immediate aftermath of Hurricane Maria, which provided relief for families in Puerto Rico after the devastating storm. Bravo and his team also deployed air and sea cargo operations to transport supplies to Puerto Rico.
Bravo relocated to Miami in late 2020 to extend his firm’s business and brand to The Magic City. Upon his move, he reached out to the NBA team the Miami Heat — one of the organizations behind Support Surfside — to learn how he could support his new community.
He tells PEOPLE that he hopes this donation will serve as a call to action for other entrepreneurs to do the same, particularly as Miami experiences a major influx of new tech money.
“These are the moments when a community has to come together, rise up and help. Thank you to Orlando Bravo and the Bravo Family Foundation for joining the Miami HEAT family and other local partners in helping our cherished community,” Steve Stowe, Vice President/Executive Director Miami HEAT Charitable Fund, told PEOPLE in a statement.
$250,000 is a nice donation, but don’t think it’s not lost on us that it serves as another charitable tax write-off for a billionaire.
