A Nation investigation illustrates the moral hazards surrounding the Gates Foundation’s $50 billion charitable enterprise.
A good article on billionaire philanthropy. The wealthy can avoid paying taxes by giving away some of their wealth, but then invest this money into companies that greatly increase their wealth.
Pharmaceutical companies looking for new markets in the third world will promote their drugs under the guise of philanthropy, when there maybe better solutions to public health problems.
When the Gates foundation has faced criticism in regard to its endowment—including investments in prisons, fast food, the arms industry, pharmaceutical companies, and fossil fuels—conflicting with its charitable mission to improve health and well-being, Gates has pushed back in black-and-white terms, calling divestment a “false solution” that will have “zero” impact.
Linsey McGoey says, “They’ve defined their charitable mission so broadly and loosely that literally any for-profit company could be said to be meeting the Gates Foundation’s general goal of improving social and global well-being.”
Tim Schwab- Bill Gates’s Charity Paradox
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