Financial Services Firm Pledges $1M Direct Donation To Hawaii Wildfire Recovery

August 14, 2023 11:07 pm
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Jefferies Financial Group has pledged to help Hawaiian wildfire humanitarian assistance by making charitable donations.

The financial services company announced its plans to do so Monday, saying the funds it plans to donate would be “carefully allocated to qualified charities to make sure the proceeds go directly to the people most in need.”

Bloomberg earlier reported on the announcement.

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The Maui wildfires that prompted Jefferies’ action have taken the lives of at least 96 people to date. Lahaina, a town on the western side of the island, has largely “been destroyed,” according to emergency proclamation from the Hawaiian governor.

The burned remains of a neighborhood are shown in Lahaina, western Maui, Hawaii, on Aug. 11, 2023. (Patrick T. Fallon / AFP via Getty Images)

Some funds that Jefferies will give to charity will come from $1 million worth of direct donations by the financial services company, according to a press release.

Ticker Security Last Change Change %
JEF JEFFERIES FINANCIAL GROUP INC. 34.97 -0.05 -0.14%

Moreover, the investment banking and capital markets firm said it will direct “100% of net global trading commissions” from its Global Trading Day “for all trading in equities and fixed income by the Firm’s clients” towards charitable donations. That designated Global Trading Day is to take place Wednesday.

Hawaii fire

The burned remains of a neighborhood are shown in Lahaina, western Maui, Hawaii, on Aug. 11, 2023. (Patrick T. Fallon / AFP via Getty Images / Getty Images)

In the release, CEO Rich Handler and President Brian Friedman said their “hearts go out to the people who have experienced unimaginable loss in the last few days” from the Maui wildfires, adding that they “encourage our employees and clients around the world to join our collective efforts.”

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FOX Weather reported Sunday that Hawaii Gov. Josh Green estimated the wildfires have caused nearly $6 billion in losses.

Davilynn Severson looks through the ashes of her family’s home in the aftermath of a wildfire in Lahaina, western Maui, Hawaii, on Aug. 11, 2023. (Patrick T. Fallon / AFP via Getty Images)

He has also said a temporary housing task force will work to help residents in need of shelter due to the wildfires. The task force has already secured 1,000 hotel rooms, with the first 500 for local residents who have been displaced, according to the governor.

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Firefighters had not yet fully contained two wildfires burning on Maui as of Monday morning, with one scorching nearly 680 acres and another more than 2,100, according to a Maui County press release. Those two were first reported Aug. 8.

Danielle Genovese contributed to this report.

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