Wednesday, July 4, 2012

WSOP Million Dollar Buy-In!

PITTSBURGH -- We're not in Las Vegas yet, but as we're packing and getting ready to leave on Saturday, we've been watching ESPN's coverage. The tournament they covered yesterday was a doozy.

Forty-eight players each paid $1 million to play in the the Big One for One Drop tournament, just one of oodles of events during the WSOP annual whoopty-do in Las Vegas. But for this one, the winner earned a whopping $18,346,673! The largest prize ever in any sport. Players included businessmen, philanthropists and professional poker players. Details on how the hands played out at http://www.wsop.com/tournaments/updates.asp

A portion of the proceeds from this tournament went to the One Drop Foundation. Founded by Guy Laliberté (who also founded a little organization called Cirque du Soleil), "the foundation's mission is to fight poverty worldwide by supporting access to water and raising individual and community awareness of the need to mobilize so that safe water is accessible to everyone." http://www.onedrop.org/en/default.aspx

But it was David Einhorn, president of Greenlight Capital (a hedge fund) who really showed what generosity looks like. Before the tournament started, he announced that he would give ALL OF HIS WINNINGS to an organization called City Year, an education-focused nonprofit organization based in Boston that works with public schools to prevent student dropouts. Einhorn came in third. His winnings? $4.352 million!!!