How Billionaires Use Non-Profits to Bypass Governments and Force Their Agendas on Humanity
‘As wealth becomes concentrated in fewer and fewer hands, the billionaire class is increasingly turning to foundations and non-profits to enact the change they would like to see in the world. Amid the rise of philanthrocapitalism, growing numbers of critics are raising serious questions about whether this outsized influence is doing more harm than good.
In the January issue of the New York Review of Books, veteran journalist Michael Massing noted that, in the past 15 years alone, “the number of foundations with a billion dollars or more in assets has doubled, to more than eighty.” The philanthropic sector in the United States is far more significant than in Europe, fueled in part by generous tax write-offs, which the U.S. public subsidizes to the tune of $40 billion a year.’
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