Bobby Turner, Principal and CEO, Turner Impact Capital

Willy welcomes Bobby Turner. He is the CEO and Principal of Turner Impact and has established himself as a pioneer in social impact investing. A graduate of the Wharton School at the University of Pennsylvania, he is the former Chairman, CEO, and Co-Founding Partner of Canyon Capital Realty Advisors. He has committed to offering reasonable financial returns for investors and developing opportunities for underserved communities. Bobby Turner opens the show by relating the importance of sports in becoming a successful businessman, as it teaches you how problems come quickly. He fondly remembers Baltimore, growing up with "great perspective and diversity." He believes in reigniting the American dream as the pandemic has proven our resilience but demotivated the nation, highlighting the crises in food, housing, and healthcare and the disparity of wealth and hope. He emphasizes the importance of evolving, exploring and trying new experiences, and seeing the social issues in our present world. He recalls working for his father in a footwear factory in Puerto Rico as an eye-opener. He describes the working conditions as "subhuman" and "disheartening." After speaking with fellow machine operators, he unraveled how most of them don't have other options for livelihood. He explains how most people forget their privilege and that nobody is entitled to success; thus, we must pay our luck forward. Money being the sole metric of success was an idea Bobby refused to adhere to as he delved into philanthropy and saw how organizations only provided Band-Aid answers to entrenched problems—curing these required durable, scalable, sustainable, and profitable market forces. He formed the Canyon Johnson Urban Fund with Magic Johnson in 1998, raising $5 million in two years. Fighting against arrogance and distrust, he discovered the mismatch between supply and demand in underserved communities. Operating in these areas requires a diverse perspective to understand the people. Listen to the replay! If you have any comments or questions, please reach out to your main Walker & Dunlop point of contact. We are all available to answer questions and provide assistance. Additionally, if you have topics you would like covered during one of our future webcasts, we would be happy to take your suggestions. Learn more about your ad choices. Visit megaphone.fm/adchoices