SOURCE OF WEALTH: Forest Laboratories, Hildred Capital Partners
FUNDING AREAS: Arts & Culture (Music), Education & Youth
OVERVIEW: Howard and Sarah Solomon move their philanthropy through the Howard and Sarah D. Solomon Foundation, whose grantmaking strongly focuses on the arts, particularly music. According to available tax filings, the foundation awarded $1.32 million in grants in 2017. The family are major patrons of Met Opera. New York City serves an important region of giving.
BACKGROUND: Howard Solomon graduated from City College of New York and received his J.D. from Yale Law School. He began his career working for several law firms in New York. One of his clients was Forest Laboratories, a pharmaceutical manufacturer and marketer. He retired as CEO and President of Forest Laboratories in 2013 and served as chairman of the board until the company was acquired by Actavis for approximately $28 billion in 2014. Solomon is currently a partner of Hildred Capital Partners, a family investment firm that invests in a broad range of securities.
ISSUES:
ARTS & CULTURE: Solomon and his wife Sarah are active in supporting the performing arts. Solomon serves as an honorary director of the Metropolitan Opera, and as a member of the board of the New York City Ballet, where he once served as chairman and CEO. In addition, he is an emeritus of the board of Lincoln Center for the Performing Arts. The couple have given tens of millions to Metropolitan Opera, where Sarah was assistant general manager for artistic affairs, second in command at Met Opera. Sarah worked as an opera administrator for more than four decades, getting her start at the San Francisco Opera. Meanwhile, she worked at Met Opera for 20 years. The Solomons have also supported organizations like Above and Beyond Dance, Beth Morrison Projects, Richard Tucker Music Foundation, Carnegie Hall Society, Lincoln Center for the Performing Arts, Opera Philadelphia, Opera America, Vocal Arts DC, and Brooklyn Academy of Music.
OTHER: While the couple’s giving through their foundation primarily keys in on the arts, they’ve also supported places like CUNY School of Law Foundation. They’ve also directed funds to Cold Spring Harbor Laboratory.
LOOKING FORWARD: In his early 90s, Solomon is still engaged in business and philanthropy. His sons David, who works with his father and business, and Andrew, a writer, should be watched carefully as family giving shifts to its next generation.
CONTACT:
Howard and Sarah D. Solomon Foundation
c/o 745 Fifth Avenue, No 1702
New York, NY 10151
