How Philanthropic Businesspeople Benefit the World
Nowadays, you can’t go long without hearing about the latest philanthropic contribution by a successful businessperson. For example, there is a prominent Jewish leader from Russia who has become well known for his generous donations, as well as his promotion of tolerance between different people. Additionally, he works to improve relations between religious groups.
Would-be philanthropists can learn much from his carefully planned approach to giving. He streamlines his approach by attending to the issues that matter to him the most; he recently committed several million dollars’ worth of support to an support center that assists families in need of mental health services.
What Distinguishes Philanthropy?
Depending on which dictionary you check, the definition of philanthropy typically involves a motivation to support the public good and the giving of financial support to accomplish this. It is important to distinguish philanthropy from other kinds of corporate practices that may involve giving, especially if they have profit or gain as their motive. Moreover, government activities that center on the provision of services to the general public do not count as philanthropy.
Finally, you might wonder if philanthropy is identical to charity. Generally, there is a high degree of overlap, but not all philanthropy counts as charity, and vice versa. According to some, charity has to do with alleviating the suffering that is caused by some social challenge. On the other hand, philanthropic giving is directed at the higher-level cause of the challenge itself. That said, it could be argued that there is not much difference between the two at all.
In recent years, huge gifts have taken the media spotlight, with some givers even parting with large percentages of their total fortune. Considering the growth of the extremely wealthy, it might not be a huge shock that this is happening. Whether through tech entrepreneurship or financial wizardry, there are many opportunities for resourceful individuals to attain wealth.
A Variety of Causes
Philanthropists can contribute to a large range of issues and problems. For example, the billionaire mentioned earlier has contributed to areas as diverse as religious tolerance, art, health, and nuclear safety.
Some donors choose to direct their funds to other areas, such as preventable diseases, poverty, hunger, or fighting corruption worldwide. The list of potential issues is endless.
The Road Forward
It’s hard to imagine our world without the help offered by philanthropists. In some ways, we all benefit from these peoples’ efforts, such as when we visit museums or use libraries constructed on donated funds. Moreover, controversial projects or issues can gain from individual support even when they are rejected by their local governments.