Tuesday, September 18, 2007
FT.com / Mergermarket - Philanthropy changing amidst wealth boom
FT.com / Mergermarket - Philanthropy changing amidst wealth boom: "There has been plenty of news coverage of the ever-expanding ranks of millionaires created by start-up Internet companies, a wave of M&A activity and (until recently) increasing real estate prices. What has gone less remarked on is the increase in and changing nature of philanthropy as the result of the wealth boom. While much comes from Buffet’s USD 31bn pledge to the Bill and Melinda Gates foundation, total charitable donations in the US for 2006 came to USD 295bn, a one percent increase over the year before after inflation, according to the Chronicle of Philanthropy. But are the ranks of givers actually growing? Or are a few outliers like Buffet skewing statistics?"