Today’s Big Philanthropists Spend Now
July 10, 2006 | Read Time: 1 minute
Unlike “old-school business bluebloods who sought to immortalize their names,” philanthropists today are looking to give away their money and see results of their charity before they die, reports The Wall Street Journal.
Among the donors who say they want to spend their fortunes before they die: Eli Broad, Charles Bronfman, Lawrence Ellison, Michael Milken, and Sanford Weill.
What’s more, the newspaper notes, a recent survey of people with assets of $30-million or more found that two-thirds hope to give more of their wealth during their lifetime than through their estates.
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