The black box warning on philanthrocapitalism - Jocalyn Clark & Linsey McGoey | The Lancet
On Sept 21, 2016, Mark Zuckerberg and his wife Priscilla Chan announced plans to invest US$3 billion in a mission to “cure, prevent or manage all diseases” by 2100, part of an earlier promise to donate 99% of their stock in Facebook, a company Zuckerberg founded. It is the latest example in a growing number of pledges by billionaires to give away their wealth for social causes rather than pass it down to descendants.
Opinion: Charities and Taxpayers Deserve More From Donor-Advised Funds - The Chronicle of Philanthropy
What all of these organizations have in common is that they offer donors the ability to make what appear like outright donations to charity. Behind the scenes, what is happening, in essence, is that DAF sponsors make a side agreement with the donors to hold these funds and let the contributor have control over the money.