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Cheap Charity from the Wealthy

September 6, 2007

In a edgy NYTimes article, Billionaire William Gross takes his wealthy peers to task in cheap philanthropy. He writes:

“When millions of people are dying of AIDS and malaria in Africa, it is hard to justify the umpteenth society gala held for the benefit of a performing arts center or an art museum,” he wrote in his investment commentary this month. “A $30 million gift to a concert hall is not philanthropy, it is a Napoleonic coronation.”

Read the rest and respond by commenting here. What is your perspective? What about middle class philanthropy?

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