Bloomberg Philanthropy: charity or intrusion?

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Philanthropy’s role is to get things started, to make market forces work in favor of the poor.

A well-targeted philanthropic activity triggers action from both business and government. That’s how tech mogul and billionaire Bill Gates defines the good work of capitalism and its intended outcomes.

What makes Gates credible in putting forth the agenda of philanthropy is that he is no tycoon-cum-politician like the discredited former US President Donald Trump and former presidential candidate and New York City mayor Michael Bloomberg who apparently have overriding motives than the public good.

But as the largely unremorseful Trump eventually found himself in the dust bin of history, Bloomberg still keeps a busy-body routine and is passionately advancing his social agenda (or what passes for it).

With a multibillion-dollar net worth, he was the wealthiest person to run for president in US history. The tycoon-politician was worth a staggering $59 billion, according to Forbes’ real-time net worth tracker as of 16th March 2021, making him the 21st richest person in the world.

Read full article here.

24 Share – 2021-03-16.

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