In order to spread good news in 2023, I have been writing about people and organizations giving back to the community.
Readers enjoy seeing uplifting, positive stories. So today, I wanted to write about a couple from Miami and the good they are doing for the community.
Their names are Patricia and Phillip Frost- let's take a quick look at their story.
Who are the Miami couple?
Phillip Frost has made a billion-dollar fortune thanks to two key sales.
Frost joined Key Pharmaceuticals in 1972 and reformulated its asthma drug, which led to the company being sold in 1986 for $836 million. The following year he founded Ivax, a generic drugmaker, which he sold for $7.6 billion in 2005.
In addition to those roles, Phillip has worked as a professor of dermatology at the University of Miami School of Medicine and served as the chairman of the department of dermatology at Mt. Sinai Medical Center of Greater Miami.
Meanwhile, Patricia Frost served as the Principal of Henry S. West Laboratory School, the educational research center for the Miami-Dade County Public School and the University of Miami, for 23 years.
They have a net worth of $2 billion- and have promised to give most of it away.
Philanthropy
The Frosts have been very generous in their charitable donations.
In 2003, the Frosts gave $33 million to the School of Music at the University of Miami, the largest ever given to a university-based music school in the U.S. at the time.
In 2011 they donated $35 million towards constructing the new Miami Science Museum building at Bicentennial Park in Downtown Miami. This was followed by an additional $10 million in 2015.
In 2016 they gave $100 million to the University of Miami to support science and engineering programs. In total, they have given over $140 million to the University of Miami.
They took their commitment to philanthropy one step further when they signed the Giving Pledge, in which they promised to give away at least half their billion-dollar fortune and they are doing their best to fulfill this promise.
In 2017 the Chronicle of Philanthropy called them the most philanthropic family in all of Florida.
Your thoughts
What do you think of the pledge by the Frosts? What organizations in Miami would you like to see them support?
Please leave your thoughts in the comments below and share this article with others so they can join the conversation.
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