No. of Recommendations: 3
Bill Ackman
@BillAckman
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@melindagates
apparently does not consider me to be a philanthropist yet the
@PershingSqFdn
(our family’s foundation) and an affiliated DAF have made grants of more than $700m, have foundation assets of ~$1 billion still to give, and I am a signatory of the Giving Pledge. And unlike Melinda, every dollar of philanthropic gifts I have made, came from money I earned, not resources I married into.
All of that said, I don’t believe that philanthropy is the answer to societal problems.
@elonmusk
has done more for the world with his for-profit enterprises than any philanthropist ever.
In my experience, many if not most philanthropic organizations are inefficient and/or ineffective. For-profit organizations are vastly more effective in addressing societal problems than non-profits.
Therefore, in my view, philanthropy should be focused on addressing societal issues for which there is no current for-profit solution.
https://fortune.com/2024/07/29/melinda-french-gate... 