I envision a future where transparency amongst the business world is mandatory.
This vision is obstructed by the power billionaires have to shape society without public consent. This power is both dangerous and concerning, and it is important to realize that the "Big Philanthropists" aren't the solution to the global issues we see today. The true motive behind these philanthropic actions we see in the media is often clouded by praise and dollar signs.
Future changes include having strong laws to prevent the various tax-break loopholes that are often taken advantage of by billionaires. The true meaning of philanthropy needs to be valued and protected by all.
Hi Maria, I completely agree about having stronger laws to prevent various tax-break loopholes that billionaires take advantage of. Such a great point!
Hi Maria, I really likeked your last sentence! I think that philanthropy in general needs to be re-evaluated to determine who is really benefitting more from donations and if billionaires are actually helping by contributing.
Thank you for your post Maria. This post reminded me the disgust I felt when Jeff Bezos donated for COVID-19 relief during the height of the pandemic, in contrast to the exploitation of Amazon workers at the time (and probably now). Bezos is one of the billionaires that have benefitted from the pandemic. And he chose to donate a tiny portion of his wealth to COVID relief rather than paying all his taxes or pay Amazon worker better. This is NOT Philanthropy. Billionaires cannot get away with the anymore
Hey Maria, this is such a good post!!! It is clear, concise and addresses a major problem, regarding the power that billionaires have. I completely agree with your vision and I think that transparency is absolutely crucial. It is really sad to think that when we see these ultra rich people making huge donations to a good cause it's most likely being done so they can get a tax break. I believe there needs to be an agreement that complete transparency of the donation and transaction is open to the public, otherwise the donation cannot go through.
Hi Maria, thanks for sharing! I want to focus on your title, that mentions the true meaning of 'philanthropy'. I recall reading about much of the past philanthropists that really used to believe that no one died with their money and thus there is no use in hoarding it so instead funded many university and school buildings, libraries, museums, hospital wings and other public spaces for the benefit of society (and perhaps to be remembered when they pass). I'd like to believe that this is part of the true meaning of philanthropy (although I may not have the full story).
Transparency is crucial! The rich have so much power over everyone else in society, and their actions show that in many cases, profit is values over actually benefiting society. I like how you emphasize the importance of understanding what philanthropy really means.
It’s so scary how a few handful of billionaires hold so much power over our world…more than even some nations do.
This is super, Maria. I share your vision! And your paths forward would be great.