Opinion: Why Tycoons Feel Called to ‘Give Back’

Business titans’ frequent use of the term “giving back” to describe their philanthropy is analyzed by a Financial Times columnist.

Michael Skapinker writes that the phrase is “arresting” because it suggests wealthy magnates are “taking something away” from communities that benefit from the jobs, tax revenue, and other economic benefits conferred by big businesses.

Citing comments from philanthropists such as Warren Buffett, Michael Bloomberg, Sanford Weill, and Peter Peterson, Mr. Skapinker theorizes that tycoons “give back” out of recognition that the free market cannot solve every problem and because “there are human needs—gratitude from others, a sense that life should have some deeper meaning —that financial success does not satisfy.”