Paul Allen, Gerry Lenfest, and Pete Peterson, three major Philanthropy 50 alumni who died last year, couldn’t have been more different in style and personality. But one thing they had in common was an almost obsessive commitment to the causes they supported, and their forward-looking, no-holds-barred approach to philanthropy.
The total big donors gave was $7.8 billion, a sharp drop from the 14.7 billion donated in 2017. The causes philanthropists supported are evolving, with more wealthy Americans looking for ways to shape the world’s uncertain future.
I first met Seattle tech pioneer Paul Allen in October 2005 when he donated his SpaceShipOne, the first privately built and piloted vehicle to reach space, to the Smithsonian National Air & Space Museum. I immediately sensed a formidable personality that was at once shy and wary, yet eager for human connection and the chance to talk about his gift. Allen gave away $2 billion during his lifetime to futuristic projects like SpaceShipOne, plus several important scientific research institutes he created, arts and culture groups, and numerous programs that helped the needy in the Pacific Northwest.
Philadelphia businessman Gerry Lenfest had a reputation as a no-nonsense negotiator. He was a “man of action,” said one nonprofit leader, and brought humor and wit to board meetings, according to another.
Lenfest was gentlemanly, open, and generous with his time during interviews. He could also be disarmingly candid. Once after an hour-plus conversation about his and his wife Marguerite’s philanthropy, we spent nearly another hour chatting about family and life’s bigger questions. I even got a little lecture about the importance of finding the right mate.
He and his wife ultimately helped revitalize Philadelphia with their massive gifts to arts, culture, and educational institutions. They also backed environmental and human-service programs, and in 2016 he donated tens of millions of dollars and his for-profit Philadelphia Media Network to start the Lenfest Institute, a new nonprofit aimed at shoring up journalism for the future. Their giving totaled at least $1.3 billion.
Pete Peterson’s giving was also aimed at what lies ahead, but he was more pessimistic about the future than Allen or Lenfest. He gave $1 billion in March 2008 (five months before the financial crisis hit) to launch the Peter G. Peterson Foundation, focused on safeguarding America’s economic security. The private-equity titan and former U.S. Secretary of Commerce told me that he thought the United States was headed for economic disaster if the country didn’t reign in ballooning entitlement programs, health-care costs, and budget and trade deficits, among other fiscal bogeymen.
I can only guess how Peterson might view today’s economic climate, but as he made clear in our conversation a decade ago, his faith in America’s ability to right the ship remained steadfast. Like so many of the philanthropists who appear in this year’s Philanthropy 50, it’s unlikely he would be willing to give up on America’s future just yet.
