Every couple of years, a very wealthy, prominent individual dominates the headlines, having boldly vowed to give away their fortune to fix the crises of our time. A cynic might say they’re merely patching up problems of their own creation. Despite the glaring hypocrisy, a halo effect takes hold, allowing those who benefit most from deepening inequality to rebrand themselves as saviors. Many people have come to view big philanthropy as a bit of a scam.
While traditional non-profits and charitable foundations tend to be governed by strict laws to curb conflicts of interest and political influence, many mega-donors now opt to pour their money into LLCs or Donor Advised Funds .
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