The world’s 1,826 billionaires, many of them relatively newly minted moguls reared in the disruptive world of Silicon Valley, are exploring new avenues to pursue social agendas, challenging traditional foundation and donation models in ways that could redefine philanthropy, the Financial Times writes.
The newspaper examines emerging ways that today’s mega-donors are crafting their philanthropy, including the giving-while-living creed espoused by retail magnate Charles Feeney and the hybrid structures adopted by eBay founder Pierre Omidyar and Facebook CEO Mark Zuckerberg, who set up limited-liability companies that make impact investments as well as grants to nonprofits. The article also looks at how tech billionaires are choosing their causes, weighing “big bet” philanthropy, and engaging in policy debates.
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