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This isn't new. It's been going on since the end of gilded age with wealthy tycoons setting up family run charities and foundations. Rockefeller, Carnegie, etc
by qubax 8y ago
This isn't new. It's been going on since the end of gilded age with wealthy tycoons setting up family run charities and foundations. Rockefeller, Carnegie, etc all did this. Gates is the most famous one to do this in recent times.
It's a great way to shelter money from taxes and governments. It has been used to fund worthwhile enterprises. But it could also be used to give wealthy families political/institutional power for generations.
- creaghpatr 8y agoUniversity endowments are another great example, and many of those overlap the examples you mentioned.
- dahart 8y ago> This isn’t new. Well, something here is new since the sum total of DAF contributions tripled in 6 years. Are you referring to charities in general, or DAFs specifically? This article is less about charities as a whole and more about a specific style of donation where the funds accrue interest and are locked up and not usable by the charity until later.