Ford and Carnegie, make room for Gates and Bezos, and the legions of newly-minted dot-com gazillionaires in their wake. There are two and a half million millionaires in America, and they want to give their money away.
The same entrepreneurs and innovators who have helped fuel America’s record-breaking economic surge are bringing their bankable business acumen to the world of philanthropy. The trick is to give the money away as imaginatively, as experimentally, as riskily, as they made it. And it’s not easy. Entrepreneurial philanthropists want serious business plans, real accountability, good management teams, and a solid growth strategy.
With tactics and lingo from Wall Street, they are creating and investing in venture charities run by social entrepreneurs. But the habits and incentives learned in money-making take funny turns in non-profit world. We’re doing due diligence on Venture Philanthropy this hour on the Connection.
Michael Bronner, UPromise Inc, David Rockefeller Jr., Vanessa Kirsch, New Profit Inc, Paul Shoemaker, Social Venture Partners