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AP National Business

Knight Foundation leader to retire, leaving powerful legacy

KION
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Published 1:28 PM

By ALEX DANIELS of The Chronicle of Philanthropy
Chronicle of Philanthropy

Alberto Ibargüen announced Friday that he was stepping down as the leader of the John S. and James L. Knight Foundation, ending a run as the grantmaker’s president that began in the George W. Bush administration. With about $3 billion in assets, Knight is among the 50 wealthiest foundations. During his tenure, Ibargüen made his mark in the cities where brothers John S. and James L. Knight operated their newspaper empire. In Detroit, Ibargüen helped orchestrate a $370 million foundation effort to keep the city’s finances from cratering. In Miami, he crusaded for the arts, helping the city become an international cultural destination.

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