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Tech Billionaires
In the first decade of the twenty-first century a new wave of thinking has emerged from tech billionaires that may shape the way private capital gets invested to tackle social problems. These entrepreneurs broke the business mold in the 1980s and 1990s and are now trying to break the traditional pattern of philanthropy pioneered by Andrew Carnegie and John D. Rockefeller, Sr. some one hundred years ago. Combining billions of dollars of their personal capital with new ideas, cutting-edge businesslike techniques, media and marketing savvy, the tech benefactors profiled in this book are attacking some of the globe's most intractable societal problems. In trying to make a difference in the world, these new philanthropists, dubbed \"philanthrocapitalists\" by rhe author seek to break down traditional barriers dividing business, charity, and government. As a result of the rapid wealth creation in recent years, the world now boasts 1,125 billionaires, many of whom are self-made, according to the Forbes' 2008 list, including Bill Gates, Pierre Omidyar, Jeffrey Skoll, Stepehn Case, Sergey Brin, Larry Page, and more. Their massive wealth has created new philanthropic challenges. Imaginative giving by the new billionaires is beginning to transform philanthropy in terms of timing, involvement, strategy, and tactics. How this development impacts society as a whole is the subject of Lewis Solomon's book. As the author notes, the traditional categories of business and philanthropy may no longer serve to meet the challenge of social problems. In the twenty-first century the tools and resources used to solve societal problems will be far more varied and mixed than previously. We now see interesting partnerships and new ways of thinking. The divide between profit and social good will narrow. If successful in using their money in innovative ways, government or for-profit business could scale up the catalytic efforts of the new philanthropists. This volume is a proactive, innovative guide to a new era, not just a new technique of monetary support.
eBook
Giving and Identity: Why affluent Australians give – or don't – to community causes
The trend to affluence in Australia is noteworthy. There are more Australian millionaires than ever before and the rate at which Australians are joining this group is one of the fastest in the world, with average assets held now worth US $4.1m, nudging the world's average of US$ 4.8m (Merrill Lynch and Capgemini 2005). This is positive news for the community sector because the Giving Australia household survey indicates that Australia's affluent are more likely give to community causes than those on lower incomes and are more likely to give more (PMCBP 2005). This trend is reflected in analyses of tax deductions claimed for charitable giving (McGregor‐Lowndes and Marsden 2006). This paper presents the findings of qualitative research conducted as part of the Giving Australia project describing why affluent donors give – or don't – to community causes. Findings from eight focus groups and eight in‐depth interviews with affluent individuals suggest that giving by the affluent at lower levels may be linked to a sense of identity and responsibility within social groups, as well as the perceived worthiness of both the cause and recipient organisations. In contrast, major donor behaviour appeared to be linked to passion and personal commitment to social change. A range of barriers were also indicated such as a need for privacy and concerns about the capacity of community organisations. Overall, the study's findings add to the understanding of giving behaviour by the affluent in Australia and confirm US findings that motivations for affluent donors are complex (for example, Boris 1987; Prince and File 1994; Schervish 2005; Johnson 2005).
Journal Article
