Gates-Buffett Challenge Prompts New Ideas on Philanthropy; Plus More: Friday’s Roundup
By Maria Di Mento
Senior Editor
June 18, 2010 | Read Time: 1 minute
- Nathaniel Whittemore, founder of Assetmap and a blogger on social entrepreneurship for Change.org, says that the billionaires being prodded to give by Bill and Melinda Gates and Warren Buffett should consider creating private-equity firms focused on social as well as financial impact. “Imagine Benetech founder and CEO Jim Fruchterman running a firm like this, supported by the Fortune 400 member David Rubenstein from the Carlyle Group (the largest private-equity firm in the world), and funded by everyone from Sergey Brin to Michael Bloomberg,” writes Mr. Whittemore.
- If the true desire of the Gateses and Mr. Buffett is to help other people, they should hoard their wealth, not give it away, writes John Tamny of Forbes magazine. He says that giving their money to charity deprives the country of needed business investment that is the biggest driver for creating jobs and improving people’s living standards.
- Also providing comments on the Gates-Buffett giving pledge: Sean Stannard-Stockton, a Chronicle contributor and donor adviser, who says this week’s news is a cultural milestone for what he calls the second great wave of philanthropy; Gena Rotstein of the Canadian firm Dexterity Consulting, who asks who among Canada’s affluent may respond to the appeal; and Mitch Nauffts of the Foundation Center, who raises questions about how to ensure that an influx of money promotes real change in society.
- Phil Buchanan of the Center for Effective Philanthropy discusses on his group’s blog the BP oil spill and what questions it raises about the nonprofit world. He asks whether environmental groups have been as outspoken as they could be, both before and after the spill, and whether donors are doing enough to support nonprofit organizations and to help them challenge corporate interests when necessary.
