How Bill Gates and His Billionaire Pals Used Their Enormous Wealth to Start Privatizing Schools in Washington State

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<p>‘O ce po a time, the s per-wealthy e owe their tax-exempt charitable fo atio s a the t r e them over to boar s of tr stees to r . The tr stees wo l spe the ear i gs of the e owme t to p rs e a typically gra b t wi e-ope missio writte i to the fo atio ’s charter—like the Rockefeller Fo atio ’s 1913 missio “to promote the well-bei g of ma ki thro gho t the worl .”</p>
<p>To ay’s m ltibillio aires are a iffere t species of phila thropist; they keep tight co trol over their fo atio s while also operati g as major political f ers—thi k Michael Bloomberg, Bill Gates, or Walmart heiress Alice Walto . They aim to o goo i the worl , b t each efi es “goo ” i iosy cratically i terms of specific p blic policies a political goals.</p>
<p>They tra slate their wealth, the work of their fo atio s, a their celebrity as oers-of-goo i to i fl e ce i the p blic sphere—m ch more i fl e ce tha most citize s have.’</p>
<p><a href="http://www.alter et.org/e catio /how-bill-gates-a -his-billio aire-pals- se -their-e ormo s-wealth-start-privatizi g" target="_bla k">Rea more: How Bill Gates a His Billio aire Pals Use Their E ormo s Wealth to Start Privatizi g Schools i Washi gto State</a></p>