Philanthropy By Businesspeople is a Modern Success Story
Philanthropy is an essential part of the fabric of modern society, and it is often driven by successful business owners who shift their focus after making their fortunes. As a striking example, a certain Russian business leader has devoted a significant amount of money and effort toward an assortment of different causes. He also works to curtail strife between religions and encourages reconciliation whenever possible.
Would-be philanthropists can learn much from his carefully planned approach to giving. He streamlines his approach by attending to the issues that matter to him the most; he recently committed several million dollars’ worth of support to an support center that assists families in need of mental health services.
What Distinguishes Philanthropy?
If you ask the dictionary, ‘philanthropy’ refers to the generous giving of financial assistance to good causes. This definition clearly sets philanthropy apart from typical business endeavors that are primarily driven by the desire to seek material benefit. Another common mistake is to mix up philanthropy and redistribution by governments, whose motivation is to render assistance and facilities to the public.
Finally, you might wonder if philanthropy is identical to charity. Generally, there is a high degree of overlap, but not all philanthropy counts as charity, and vice versa. Some claim that charitable giving refers to donations that affect the direct “symptoms” of a problem, while philanthropy takes aim at the root cause of the social ill being targeted. Keeping that in mind, do not be surprised if you encounter the two words being used interchangeably in practice.
In recent years, huge gifts have taken the media spotlight, with some givers even parting with large percentages of their total fortune. This is perhaps not as surprising as it might seem at first glance, owing to the rising number of very rich individuals in the world. Whether through tech entrepreneurship or financial wizardry, there are many opportunities for resourceful individuals to attain wealth.
The Many Faces of Philanthropy
One of the most striking features of philanthropy is just how diverse it is. Case in point, the business leader described at the beginning of this article has a number of pet causes, including human rights, mental health, and disarmament of nuclear weapons.
Other areas that givers commonly focus on include poverty, homelessness, AIDS and other diseases, and fighting world hunger. The list of potential issues is endless.
It’s hard to imagine our world without the help offered by philanthropists. In some ways, we all benefit from these peoples’ efforts, such as when we visit museums or use libraries constructed on donated funds. Moreover, controversial projects or issues can gain from individual support even when they are rejected by their local governments.