MacKenzie Scott has now donated 8 billion dollars of her personal wealth to charities. While that act is noble in itself, her estimated wealth increas

Are The Rich Gaslighting Us When They Donate Billions to Charity?

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2021-06-24 12:30:06

MacKenzie Scott has now donated 8 billion dollars of her personal wealth to charities. While that act is noble in itself, her estimated wealth increased $23 billion during the same period.

Because she shouldn’t have had that much money in the first place. Neither should her ex-husband have. And neither should the other 717 billionaires in America.

We’ve now entered the age of philanthrocapitalism, where the world’s richest CEOs, genetic lottery winners, and fake-tanned narcissists all donate vast amounts of money to varying causes.

Yet in nearly every case, when the mega donations start rolling out, these billionaires receive countless accolades, applause, and adoration.

We shouldn’t be so quick to cheer them on for their humble acts, though. Because many non-profits are set up purely to avoid taxes.

Just 31 years ago, the wealth situation was slightly reversed, with the richest owning less than half of Americans. In fact, billionaire wealth has novemdecupled since 1980. That’s an astounding 19x for those that didn’t also want to look up the unusual term.

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