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The latest fad in philanthropy is making it much less effective
Foundation: Boston Foundation, Rockefeller Foundation
When Bill Gates asked his former wife and ex-wife-turned-philanthropist Mackenzie Scott why she was giving away so much of her husband's fortune, Scott had this to say: "People are most credulous when they are most happy and when much money has been made, when some people are really making it, there is a happy opportunity for ingenious mendacity."
Scott, the former wife of Jeff Bezos, has given away most of her husband's fortune to groups led by people who have "lived experience," and the money is "completely unrestricted," the New York Times reports.
"It's equally important to place trust in the people and organizations we partner with and let them define success on their own terms," Gates recently wrote in a letter to Scott.
He's not the only one taking a similar approach.
The Chronicle of Philanthropy recently ran a piece headlined "The Dark Side of Billionaire Philanthropy" in which Walter Bagehot wrote that "philanthropists who shoved large sums out the door in response to the murder of George Floyd seem to have few regrets, despite accusations of squandering tens of millions on private security vacation homes on charter flights."
A professor at the University of Washington tells the Times that experts on philanthropy are lining up to
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Foundation: Marguerite Casey Foundation, Marguerite Casey Foundation, Kresge Foundation
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Foundation: Indianapolis Foundation
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When Unoma Okorafor started working on her master's degree in computer science at the African University of Science and Technology in Abuja, Nigeria, in the mid-'90s, she had no idea she'd end up in...more
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"If the class register were anything to go by, education would be one of modern civilization's greatest success stories." That's what Peter Wilson, a member of the UBS Accelerate Collective, had...more
Foundation: Gates Foundation
Melinda French Gates is stepping down as co-chair of the Bill & Melinda Gates Foundation, which she founded with her ex-husband Bill Gates more than 20 years ago. As part of an agreement made...more
If you're in the market for a new car, the NADA Show in New Orleans in January is your best chance to see what's out there. Here's a look at some of the buzzy new offerings, courtesy of Jalopnik,...more
Ahmad Al-Mallahi is a professor of agricultural engineering and sensing technologies at Dalhousie University in Halifax, Canada, and he's spent the past five years developing technology that could...more
When Christa Hayes' kids shut down their public schools in 2020, the Montana math professor started hearing from parents seeking help for their children's schoolwork and wanting to find a way for...more
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Celebrity Chef Jamie Oliver Backs Social Saturday
UK will be celebrating its first national celebration of social enterprises dubbed as Social Saturday. World famous celebrity chef Jamie Oliver, who founded the Fifteen restaurant chain.