Wednesday, October 13, 2010
The Faces Behind the New $100 Million Standard in Philanthropic Donations -- New York Magazine: "As the very rich get incomprehensibly richer, there’s been a race to the top for reputation-polishing noblesse oblige. Gone are the days when glass heiress Alice Tully could be remembered for her $4.5 million gift to a chamber-music hall—the new threshold for making a mark is $100 million. George Soros recently gave $100 million to both Human Rights Watch and the Climate Policy Initiative. And in the last few weeks, Henry Kravis and Mark Zuckerberg each announced $100 million gifts. Paulette Maehara, of the Association of Fundraising Professionals, notes that while the recession has affected most giving, “the people with extraordinary wealth don’t have that problem.”"