Richard J Stephenson

Richard J. Stephenson
Born	circa 1940 Sheridan, Indiana, U.S.
Occupation(s)	Businessman, entrepreneur
Known for	Founder and chairman of Cancer Treatment Centers of America

Richard J. Stephenson (born circa 1940) is a prominent American businessman and entrepreneur, best known as the founder and chairman of Cancer Treatment Centers of America (CTCA). Additionally, he maintains involvement in conservative political circles.

Early life and education

Stephenson's origins trace back to Sheridan, Indiana. He completed his undergraduate studies at Wabash College in 1962. While pursuing his J.D. degree at Northwestern University, he established the International Capital Investment Company (ICIC), where he continues to serve as chairman.

Investment Banking

Prior to launching CTCA, Stephenson developed a career in international merchant banking. By 1966, he held a trustee position with Americans Building Constitutionally, providing affluent clients with guidance on tax-efficient nonprofit entities and trusts. In 1969, he entered a no-contest plea to misdemeanor charges and cooperated by testifying against the organization’s leadership.

Zion-Benton Hospital

In 1975, Stephenson became part of an investor group that acquired Zion-Benton Hospital in Zion, Illinois, subsequently renaming it American International Hospital. The facility was reported to offer cancer treatments lacking scientific validation.

Cancer Treatment Centers of America

Driven by the loss of his mother to cancer, Stephenson and his family established CTCA in 1988 with the goal of revolutionizing cancer treatment.

Affiliations

Stephenson is connected with numerous entities including Gateway for Cancer Research (Chicago), Assistance in Healthcare Foundations located in Chicago, Tulsa, Philadelphia, Atlanta, and 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 he is a founding board member of FreedomWorks (Washington), RCP Advisors (Chicago), Sheridan Capital Partners, LLC (Chicago), and Brown Legacy Group (Chicago).

Philanthropy

Stephenson established Gateway for Cancer Research in 1991, an organization that has generated over $85 million to support upwards of 170 clinical trials worldwide. The charity directs 99 cents from every donated dollar exclusively toward research endeavors. Each year, Gateway hosts a gala event; in 2019, this fundraiser collected $4.2 million to aid Phase I and Phase II clinical trials spanning various cancer types.

In 1993, Stephenson also launched Assistance in Healthcare (AIH), which offers financial assistance to cover non-medical costs for patients actively receiving cancer treatment. AIH maintains active chapters in Zion, Illinois; Tulsa, Oklahoma; Philadelphia, Pennsylvania; Goodyear, Arizona; and Newnan, Georgia.

After Hurricanes Irma and Maria severely impacted the United States Virgin Islands in 2017, Stephenson contributed $5 million via the Stephenson Family Foundation to support disaster relief operations.

During 2018 and 2019, Stephenson and his spouse, Dr. Stacie Stephenson, served as co-chairs for Childhelp’s annual gala, raising $4.3 million. Childhelp stands as the oldest and largest nonprofit in the United States dedicated to advocating for abused and neglected children. The funds raised assist vulnerable youth through advocacy centers, foster care programs, group homes, and educational initiatives.

Politics

In 2012, Stephenson was a member of the three-person board governing the conservative organization FreedomWorks. Prior to the 2012 United States presidential election, he channeled $12 million to FreedomWorks through entities structured to obscure the source of the funds. Later that year, Stephenson committed to paying FreedomWorks $400,000 annually over two decades, contingent upon former House majority leader Dick Armey stepping down as chairman.

According to reports by the Associated Press, Armey resigned by November 2012 as part of an agreement that included receiving $8 million in consulting fees disbursed in $400,000 yearly payments.

External links

• Profile at Cancer Treatment Centers of America