this post was submitted on 09 Dec 2024
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The only good billionaire (lemmy.world)
submitted 2 weeks ago by [email protected] to c/[email protected]
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https://en.wikipedia.org/wiki/Chuck_Feeney

https://www.atlanticphilanthropies.org/news/former-billionaire-chuck-feeney-philanthropist-who-pioneered-giving-while-living-has-died-at-age-92

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[–] [email protected] 1 points 1 week ago

They probably do not get the same tax cuts: a "normal" person, making a paltry $250,000/year only reduces taxes by 24% of their giving, where the ultra-rich get 37%.

But the real difference is scale. A million people each giving $100 to their favorite charity is going to distribute that money more-or-less according to the community's overall priorities. One person giving $100M to their favorite charity has no connection to the broader community and social goals. They supercharge that one thing, which takes attention and resources from everything else.