this post was submitted on 02 Jul 2023
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Bill Gates gets a ton of benefits from his philanthropy. He gets to pay less taxes, he gets to influence the world with his donations, he gets honored at functions for his donations, he gets social validation. All while increasing his wealth.
Philanthropists basically always get benefits from their donations. Real people get hurt while they amass their wealth, and when they give a fraction of it away, they get far more benefits than a middle class person who donated a similar fraction of their wealth.
Arthur Sackler is a perfect example of philanthropy for personal benefit. He amassed his wealth directly on human suffering, getting America addicted to benzodiazepines and then opiates years later. He used his donations to museums to get himself a free place to store the artifacts he was collecting, and trained staff to preserve them. He got events in his honor. He got a hospital wing named after him, which came with priority service at a NYC hospital, where they keep specially equipped rooms and immediate access to a doctor for benefactors.
I'll be impressed with a billionaire giving away their wealth when one of them gives it to a cause that will work to prevent anyone else from becoming a billionaire.