Monday, February 08, 2016

Philanthropy and Mark Zuckerberg ..

Zuckerberg giving away 99% of his wealth to for-profit philanthropy charity initiatives, in a controlled phased manner can ensure a greater accountability of how the charity money is spent and ensure greater control on philanthropy.

A hard lesson Mark learnt when his earlier philanthropy initiative of $100 million was wasted, mostly eaten away by the consultants instead of reaching the intended beneficiary. 

Different people have come with different models, for eg. Rockefeller focused on directed philanthropy, focusing on a single cause ensuring greater  success .. Bill and Melinda Gates Foundation ensued greater control on fund spending, Warren Buffet believes in the reach to intended beneficiaries ..

Great lesson on what effective philanthropy could be in future for future billionaires of the world... !

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