The Chronicle of Philanthropy
Submitted by: Editor
50 Most Generous Plutocrats
What is particularly striking is who were the beneficiaries of this amazing generosity by the entitled class. With few exceptions, a large percentage of the donations went to groups, organizations, or foundations established by the donor. Look down the list and see just how many people donated to their own foundation. However generous the individual is, if the money is directed to specific, highly personal goals, it is not really "donated".
For example, Margaret A. Cargill donated $6 billion to the Margaret A. Cargill Foundation. No doubt she's a fine lady, after all she is a Minnesotan. Nonetheless, donating her fortune to her own foundation is akin to you shifting your savings account balance to your checking account.
On the opposite side of the spectrum, there are plutocrats like Michael Bloomberg who donated over $300 million dollars to 1,185 arts, human-services, public-affairs, and other groups.
Philanthropy among the 1% is a shell game. And, more often than not, their generosity has exactly zero to do with philanthropy.