The world's richest people are putting their money where their mouth is.
In an op-ed for Forbes India, billionaire businessman and social activist Nile Nilekani writes that "no longer are we confined to the conventional and familiar" when it comes to philanthropy.
"Today's philanthropists, especially those with first-generation wealth, have begun to venture into uncharted territories," he writes.
"Whether it is mental health, scientific research, access to justice, or art and culture, they are investing innovative, patient capital for serious transformation."
Nilekani, whose family's fortune is said to be in the ballpark of $1 billion, notes that the world's richest people are putting their money where their mouth is, in ways that "strike at the heart of these complex social issues."
For example, the Bill and Melinda Gates Foundation has pledged $30 million to fight poverty in India over the next five years.
Nilekani points to the example of the Grassroots, Resilience, Ownership, and Wellness (GROW) Fund, which aims to support 100 grassroots organizations in India over the next two years.
"We are not just pooling resources; we are a unified front of philanthropists saying, 'We can do more together,'" he writes.
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