How billionaires are fixing philanthropy - The Washington Post

How billionaires are fixing philanthropy - The Washington Post: The past two decades have spawned a new wave of billionaires who’ve have taken up the banner of social justice, sparking a golden age of philanthropy not seen since the days of Rockefeller, Carnegie and Morgan. A study at Boston College found the 0.22 percent of families with incomes of $1 million or more contributed about 13 percent of charitable giving in the United States. Since the early 1980s, the number of grant-giving foundations has spiked from about 22,000 to some 65,000 today.