Thursday, October 13, 2011
The Nonprofit Quarterly | @npquarterly | Philanthropist with Panache: The Homeless Billionaire Do-Gooder
The Nonprofit Quarterly | @npquarterly | Philanthropist with Panache: The Homeless Billionaire Do-Gooder: ’s a little hard to discern exactly what the high-end WSJ Magazine defines as “philanthropy” in Berggruen’s case. Maybe it was his acquisition of Karstadt (for the sum of one euro, since Karstadt was insolvent at the time), which WSJ Magazine says saved 25,000 jobs. Maybe it was the fact that he loaned his art collection (his father, a friend of Picasso’s, was a major art collector) to museums as he sold off his homes (including an island estate in Florida and an apartment in New York) to become a homeless billionaire philanthropist.