Philanthropy's Big Giveaway
Philanthropy is on the rise as a proportion of development money. Super-rich donors describe different forms of giving. But is always a force for good?
We look at the growing influence of the world of philanthropy in global giving. Statistics indicate philanthropy by super-rich individuals is greater than ever before. Some of the world's most wealthy, from Bill Gates to Mark Zuckerberg, are pledging huge slices of their billions to make the world a better place. Good news perhaps, and maybe just as well, given the growing sway of the super-rich in our economies. But, is being a well-known philanthropist, secretly a smart bit of self-promotion?
One entrepreneur, Blake Mycoskie, founder of Tom's Shoes, describes how his philanthropy helps sell his product. The Hong Kong-based businessman James Chen, chairman of Wahum Holdings, describes his efforts to develop more of a philanthropic culture among Chinese billionaires. And, we debate the question of accountability. The billions being spent by rich foundations is surely a force for good over all, but how accountable is the work of these organisations?
(Photo: A boy plays soccer barefoot in Nairobi's Soweto slum. Credit: Tony Karumba/AFP/Getty Images)