Richard J. Stephenson (born c. 1940) is an American entrepreneur, businessman, and the founder and chair of

Cancer Treatment Centers of America Cancer Treatment Centers of America (CTCA), headquartered in Boca Raton, Florida, is a national, for-profit network of five comprehensive cancer care and research centers and three out patient care centers that serves cancer patients throughout ...

(CTCA). He is active in conservative politics.FreedomWorks tea party group nearly falls apart in fight between old and new guard, by Amy Gardner, Washington Post, 26 December 2012

Early life and education

Stephenson was born in Sheridan, IN. He graduated in 1962 from

Wabash College Wabash College is a private liberal arts men's college in Crawfordsville, Indiana. Founded in 1832 by several Dartmouth College graduates and Midwestern leaders, it enrolls nearly 900 students. The college offers an undergraduate liberal arts cur ...

and, while earning his J.D. degree from

Northwestern University Northwestern University is a private research university in Evanston, Illinois. Founded in 1851, Northwestern is the oldest chartered university in Illinois and is ranked among the most prestigious academic institutions in the world. Charte ...

, he established International Capital Investment Company (ICIC), where he still serves as chairman.

Business career

Investment Banking

Prior to founding CTCA, Stephenson developed a career as an international merchant banker. News reports indicated that by 1966, he was a trustee of Americans Building Constitutionally, which helped the wealthy set up not-for-profit corporations and personal trusts to avoid taxes. In 1969, he pleaded no contest to misdemeanor charges and testified for the government against the leaders of the group.

Zion-Benton Hospital

In 1975 he was one of a number of investors who bought Zion-Benton Hospital in

Zion, Illinois Zion is a city in Lake County, Illinois, United States. Per the 2020 census, the population was 24,655. History The city was founded in July 1901 by John Alexander Dowie (1847-1907), a Scots-Australian evangelical minister and faith healer who ...

, renaming it American International Hospital. Local press reports at the time indicated the hospital was using unproven cancer treatments.

Cancer Treatment Centers of America

Following his mother's death from cancer, Stephenson made a promise to change the face of cancer care. He and his family founded CTCA in 1988 to fulfill that promise.

Affiliations

The Gateway for

Cancer Research Cancer research is research into cancer to identify causes and develop strategies for prevention, diagnosis, treatment, and cure. Cancer research ranges from epidemiology, molecular bioscience to the performance of clinical trials to evaluate and ...

(Chicago), Assistance in Healthcare Foundations (Chicago, Tulsa, Philadelphia, Atlanta, Phoenix), International Capital Investment Company (Chicago), International Capital & Management Company (St. Thomas), Center For Learning (St. Thomas), International Private Bank (St. Croix), Stephenson Family Foundation, Celebrate Life Foundation, Cancer Nutrition Centers of America, Inc., Barrington Saddlery, L.L.C. , and is a founding board member: FreedomWorks (Washington), RCP Advisors (Chicago), Sheridan Capital Partners, LLC (Chicago), Brown Legacy Group (Chicago), et al.

Philanthropy

In 1991, Stephenson founded Gateway for Cancer Research, which to date has raised more than $85 million to fund more than 170 clinical trials around the world. Gateway spends 99 cents of every dollar donated to directly support research. Gateway hosts an annual gala to raise funds for cancer research; in 2019 it raised $4.2 million. The funds raised at the went to support Phase I and Phase II clinical trials for all cancer types. In 1993, Stephenson founded Assistance in Healthcare (AIH). AIH provides financial support to patients undergoing active cancer treatment. They provide assistance for non-medical expenses. AIH has chapters in Zion, IL, Tulsa, OK, Philadelphia, PA, Goodyear, AZ, and Newnan, GA. In 2017, after the

United States Virgin Islands The United States Virgin Islands,. Also called the ''American Virgin Islands'' and the ''U.S. Virgin Islands''. officially the Virgin Islands of the United States, are a group of Caribbean islands and an unincorporated and organized territory ...

was devastated by Hurricanes Irma and

Maria Maria may refer to: People * Mary, mother of Jesus * Maria (given name), a popular given name in many languages Place names Extraterrestrial *170 Maria, a Main belt S-type asteroid discovered in 1877 *Lunar maria (plural of ''mare''), large, da ...

, he donated $5 million to relief efforts through the Stephenson Family Foundation. In 2018 and 2019, Stephenson co-chaired Childhelp's annual gala with his wife, Dr. Stacie Stephenson, raising $4.3 million. Childhelp is the "nation’s oldest and largest non-profit organization advocating for abused and neglected children." The funds raised go towards helping at-risk youth and supporting Childhelp programs, including advocacy centers, foster care, group homes, and education and training programs.

Politics

In 2012, he served on the three-man board of the conservative group

FreedomWorks FreedomWorks is a conservative and libertarian advocacy group based in Washington, D.C. FreedomWorks trains volunteers, assists in campaigns, and encourages them to mobilize, interacting with both fellow citizens and their political representat ...

. In the run-up to the

2012 United States presidential election The 2012 United States presidential election was the 57th quadrennial presidential election, held on Tuesday, November 6, 2012. Incumbent Democratic President Barack Obama and his running mate, incumbent Vice President Joe Biden, were re-el ...

, Stephenson funneled $12 million to the group through various firms designed to hide the origins of the money. In late 2012, Stephenson agreed to pay $400,000 a year for twenty years to FreedomWorks provided former House majority leader

Dick Armey Richard Keith Armey (; born July 7, 1940) is an American economist and politician. He was a United States House of Representatives, U.S. Representative from Texas's (1985–2003) and Party Leaders of the United States House of Representatives, ...

left his position as chairman of the conservative group. The

Associated Press The Associated Press (AP) is an American non-profit news agency headquartered in New York City. Founded in 1846, it operates as a cooperative, unincorporated association. It produces news reports that are distributed to its members, U.S. newspa ...

reported that Armey agreed to resign by November 2012 in exchange for $8 million in consulting fees paid in annual $400,000 installments.

References

External links

Profile
at

{{DEFAULTSORT:Stephenson, Richard J People from Barrington, Illinois Wabash College alumni Northwestern University Pritzker School of Law alumni Tea Party movement activists American health care businesspeople American real estate businesspeople American investment bankers Living people Year of birth missing (living people)