If you want to be the skunk at the garden party, tell people we should be very alarmed about billionaire donations.
Michael Bloomberg just gave $1.8 billion to Baltimore’s Johns Hopkins University, establishing a fund that will provide financial aid to thousands. While this is an act of visionary generosity, we should be wary of billionaire beneficence.
This isn’t about Mr. Bloomberg, who is a smart and strategic giver. It’s about the way extreme wealth inequality is disrupting democracy, philanthropy and the vibrant independent nonprofit sector that we depend on.