John A. Sobrato and his son, John M. Sobrato, are stepping down from daily operations at their Silicon Valley real estate development firm to focus on the family's philanthropy, the reports.
Through , the philanthropic arm of the Sobrato Organization, the Sobratos have given more than $238 million in cash and real estate to the Silicon Valley community, including a $5 million gift to the Santa Clara Valley Medical Center to equip a new 168-bed hospital wing this past January. The family also has been supportive of , which both Sobratos attended and now serve as trustees. According to the Mercury News, Rob Hollister will take over day-to-day operations of the firm that has built many of the signature corporate campuses in the area.
In 2012, John A. Sobrato and his wife, Susan, along with their son, signed the , committing 100 percent of their wealth to philanthropic causes during their lifetimes and/or the upon their deaths.
Emmett Carson, president and CEO of the , told the Mercury News that the Sobratos bring not just money but intellectual talent and networks of influence to the causes they care about. "This announcement says that their biggest contribution is yet to come," said Carson. "They were very active philanthropists when they were business leaders, and now they are going to spend even more time devoted to philanthropy. It's a spectacular statement that I hope other business leaders follow."