A few days ago I chose the book Give a Little, which shows how small donations from the average Joe can create huge change in the world. Today's book Philanthrocapitalism : How Giving Can Save the World by Matthew Bishop and Michael Green focuses on the other side of philanthropy, the mega-rich and famous who are changing the face of charity among the elite.
Warren Buffet and Bill and Melinda Gates made headlines when they announced that they would not be following the norm and leaving their vast fortunes to their children. As Warren Buffet explained he would leave his children just enough so that they can do anything, but not so much that they could do nothing. He handed over a letter promising $31 billion of his fortune to a man who had himself pledged to donate the vast majority of his fortune, Bill Gates. Bill Gates had just announced that he would be stepping down from his position at Microsoft to devote himself to the Bill and Melinda Gates Foundation. The foundation was started to tackle social and health issues ranging from schools in the United States to eradicating malaria and AIDS.
Bill Gates was not the only one to leave his job at Microsoft with a desire to do something bigger. John Wood quit in 1999 to start Room to Read, an organization devoted to putting libraries and schools in the developing world. This book has plenty of other examples of businessmen who have taken their business sense (and in many cases their fortunes) and entered into a new era of philanthropy. Not happy with merely writing a check to a charity, this new breed seeks to take a far more active role in the work of the charity and even use their knowledge to make sure their money does as much good as possible.
Do not feel that this book is only for the ultra rich who are looking to leave their fortunes to charitable causes. This is a fascinating read for anyone who is interested in seeing the new way capitalists are making their philanthropic donations go further and how they are making the charities themselves more efficient. It also shows great examples of how for-profit companies are finding innovative ways to make a difference such as Google.org or how various retailers such as Converse, Gap and Apple teamed up with Bono to fight AIDS.
You can purchase Philanthrocapitalism: How Giving Can Change the World at http://www.betterworldbooks.com/ and start changing the world immediately. Better World Books has not only given over $10 million in funds to libraries and literacy programs, but now they are also giving a book to a person in need for each book purchased.
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