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Success Legends with Richard Lackey- Founder of The World Food Bank

  • Broadcast in Current Events
Building Extraordinary Lives

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Richard Lackey founded the World Food Bank. Hear the origin story of this significant organization. More than 800 million people in the world are food insecure. Smallholder farmers provide over 80% of the food consumed in large parts of the developing world, but face volatile commodity markets that have a devastating effects on both growers and consumers. Through advancements in the latest food drying and storage technologies, agricultural commodities and complete meals can now achieve a shelf-life of up to 20 years. This shift essentially eliminates post-harvest loss issues associated with short shelf-life and opens the door for a number of innovative applications that will help smallholders scale their business and be the key to solving food insecurity and global hunger.

The World Food Bank™ is an asset-backed investment vehicle that operates under the thesis of acquiring extended shelf-life food to fill the gaps in inefficient food markets. The World Food Bank™ food will be part of a greater network where institutional quantities of extended shelf-life dried food are staged globally in strategic locations with the purpose of building out a network of global relief resources, available where and when they are needed for sale into local markets when supply is limited and to provide direct relief to victims of humanitarian crises, when resources are scarce.