New Report From The Institute For Policy Studies Reveals The True Cost The zoom foundation (no relation to the video conferencing company) is the private foundation of billionaire hedge fund investor stephen f. mandel and his wife susan. the foundation gave more than $263 million from 2017 to 2021 to the fidelity charitable gift fund. their 2021 gift alone amounted to more than $90 million. The true cost of billionaire philanthropy page 1 chuck collins directs the charity reform initiative at the institute for policy studies, where he also co edits inequality.org. his most recent book is the wealth hoarders: how billionaires pay millions to hide trillions (polity) and in 2016 he published born on third base.
Revealing The True Cost Of Billionaire Philanthropy Institute For The 73 living u.s. giving pledgers who were billionaires in 2010 saw their wealth grow by 138 percent, or 224 percent when adjusted for inflation, through 2022. their combined assets increased from $348 billion in 2010 to $828 billion over those twelve years. of these 73 people, 30 of them have seen their wealth increase more than 200 percent. The new analysis details how the ultra wealthy use charitable giving to avoid taxes and exert influence, while ordinary taxpayers foot the bill. on november 15, the institute for policy studies released a crucial new report revealing the true cost of billionaire philanthropy to taxpayers, the nonprofit sector, and our society. This report attempts to analyze the good, bad, and the ugly of how mega donor philanthropy —particularly billionaire philanthropy — functions in america today. organization institute for policy studies and inequality.org. The news is full of stories about billionaires giving huge gifts to charity. yet for all but the most generous, their giving is nowhere close to keeping up with the growth in their wealth. while some are making an earnest effort to give back, others appear to be using charity to enhance their public image, their political voice, and even the protection of their assets. the billionaires who.
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