August 03, 2020
In a Pandemic, Billionaires Are Richer Than Ever. Why Aren’t They Giving More?
Billionaires get huge tax breaks to park money in private family foundations operated by wealthy heirs. Little goes to actual charity work
Ken Shipp / DOE / Flickr
A decade ago, Bill Gates and Warren Buffett did an important thing. They organized the Giving Pledge to inspire their fellow billionaires to donate more money to charity.
On 4 August 2010, the first group of billionaires announced their intention to give away over half their wealth to charity. Over the last decade, they’ve been joined by many more.
A decade later, however, two obvious problems have emerged.
…
Read the full article at The Guardian.
Originally in The Guardian.
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