Skip to main content

New top story from Time: What Jeff Bezos’ Philanthropy Tells Us About His New Priorities—and What Change They May Bring

https://ift.tt/3zFiTgP

Money is power, so when the world’s richest man begins to spend his fortune, it’s worth paying attention to what he’s doing. Jeff Bezos, the founder of Amazon and newly minted pseudo-astronaut, has a lot of money to spend. On July 19, the day before he took a 10 minute joyride 66 miles (106 km) above the earth, his wealth increased by $13 billion , thanks to a bump in the Amazon’s share price. That flight cost $5.5 billion which, as global change groups hastened to point out, could have paid for a lot of global change. But for Bezos, it was not quite half the previous day’s wages.
[time-brightcove not-tgx=”true”]

Bezos announced in his post-flight press conference that he was donating $100 million to two high profile founders of non-profits: the celebrity chef (and former TIME cover subject) José Andrés, and Van Jones, the former Obama green jobs czar, CNN commentator and prominent climate change activist, to do as he said “what they want with.” The two donations were the inaugurating gifts of a Courage and Civility Award that Bezos was creating. “We need unifiers and not vilifiers,” Bezos said. “We need people who argue hard and act hard for what they believe. But they do that always with civility and never ad hominem attacks. Unfortunately, we live in a world where this is too often not the case.”

Until recently, Bezos had drawn considerable criticism for his desultory appetite for philanthropy. Polls make it clear that since America’s tax system largely protects income that is accrued via the growth of existing wealth and thus rewards the rich, its inhabitants also expect that their richer fellow citizens should be generous in spreading around their surplus. However, the very wealthy are also criticized when they do donate money because their money effects social change and that change needs to be thoughtfully managed. Perhaps because of this dichotomy, Bezos has been long on promises but delivered about $1.5 billion in actual funds, about 0.7% of his wealth. He is also one of the few mega-wealthy individuals who has not signed the Giving Pledge, a promise to give at least half of one’s wealth away.

There are those in the philanthropy industry who don’t find his reticence to spend unreasonable. “The fact that he didn’t do a lot of philanthropy up until now is kind of understandable,” says Brad Smith, president of Candid, an organization that monitors the charitable sector. “If you look at the old generation of philanthropists like Rockefeller and Carnegie, they pretty much built their businesses and then at some ripe age retired and became philanthropists.”

Others feel he still has some figuring out to do. “The most significant thing about Bezos’ philanthropy is the weird tension between its scale and its strange lack of consequence,” says Benjamin Kotsis, who researches philanthropy for the Urban Institute. “He’s committed a large amount of money. But it still feels very, very half-baked.” Compared to the approach taken by Bill Gates or Bezos’ ex-wife MacKenzie Scott, who has also made headlines for her recent giving—or even Bezos’ own approach to his business— the billionaire’s giving feels slapdash, says Kotsis. “I have a sense of an inchoate donor, somebody whose philanthropic identity has not fully congealed yet.”

Let the record show that Bezos has been thinking about how to give his money away at least since 2017, when he asked for public input about how to operate “at the intersection of urgent need and lasting impact.” His two new recipients each seem to fulfill one of those aims: Andrés is known for arriving at the sites of recent disasters and feeding people with his organization World Central Kitchen; and Jones has started several non-profits, most notably Dream Corps, that seek to move the needle on such big sociological issues as climate change, inequitable incarceration and racial equity.

It’s not apparent whether Jones and Andrés applied for the funding, although Bezos had earlier pledged to support Jones’ environmental organization. It also comes with very few strings attached, which communicates a high level of trust in the grantees. “You bet on me and I appreciate it,” Jones told Bezos. “And I appreciate you for lifting the ceilings off people’s dreams.” This reminded many in the philanthropic world of Scott’s style of giving.

Read More: MacKenzie Scott Gave Away $6 Billion Last Year. It’s Not as Easy as It Looks

But the similarities between the former couple end there. Scott tends to make her gifts quietly, with an almost reluctant don’t-look-at-me post on Medium to announce the gifts, while Bezos announces his at moments of intense public scrutiny. And while Scott spreads her wealth with precision, Bezos tends to use shock-and-awe dumps of money. A week before unloading $100 million each on Jones and Andrés, he committed $200 million to D.C.’s Smithsonian museum and last year made the largest single philanthropic pledge of 2020, launching the Earth Fund, a climate change charity, with a promise of $10 billion. It joins the Bezos Day One fund, announced with a $2 billion pledge in 2018, (when he was still married to Scott,) which addresses homelessness and education.

This blockbuster approach of announcing massive initiatives and then figuring out the details is not necessarily better or worse, say some philanthropic experts. “I think he’s thinking about the size of the gifts in terms of messaging,” says Candid’s Smith. “When he drops these $100 million chunks, he’s making a big statement about climate change, just like he seemed to be making a big statement [on July 20] about civility.” There’s a precedent for this too, notes Smith. “We’ve seen this at different moments in history with philanthropy when governments and societies seem to be in gridlock and at an impasse, philanthropists will step forward and say ‘Dammit, this is important.'” Ted Turner did this in 2000, when Congress could not agree whether to pay the money the U.S. owed to the U.N.

One thing is clear about Bezos’ spending priorities. He sees a future in space both for his commercial and philanthropic investment. His space tourism business is off to a robust start. And buried in the details of the 2020 Earth Fund grants are the finer points of how his investments are to be spent. The World Resources Institute got $100 million partly to “to develop a satellite-based monitoring system to advance natural climate solutions around the world” and the Environmental Defense Fund got the same amount, to help further the “completion and launch of MethaneSAT, a satellite that will… locate and measure sources of methane pollution around the world.” He sees space travel as a crucial part of solving the climate puzzle.

This is not to say that Bezos is not also splashing around some money on problems right here on Earth. But it does not seem to be his first love. “You can make a valid case for space philanthropy if you’re not seen as ignoring the rest of the Earthbound populace,” says the Urban Institute’s Kotsis. He is reminded of a concept Charles Dickens advanced in Bleak House: telescopic philanthropy. “People love to direct their philanthropic gaze to foreign shores as a way of ignoring what’s proximate and potentially most implicates them,” says Kotsis. “I think Bezos has opened himself up to that critique.”

 

Comments

Popular posts from this blog

New top story from Time: House Passes President Biden’s $1.9 Trillion COVID-19 Relief Bill

https://ift.tt/2ZVMCSX WASHINGTON — The House approved a $1.9 trillion pandemic relief bill in a win for President Joe Biden, even as top Democrats tried assuring agitated progressives that they’d revive their derailed drive to boost the minimum wage. The new president’s vision for flushing cash to individuals, businesses, states and cities battered by COVID-19 passed on a near party-line 219-212 vote early Saturday. That ships the massive measure to the Senate, where Democrats seem bent on resuscitating their minimum wage push and fights could erupt over state aid and other issues. Democrats said the still-faltering economy and the half-million American lives lost demanded quick, decisive action. GOP lawmakers, they said, were out of step with a public that polling shows largely views the bill favorably. “I am a happy camper tonight,” Rep. Maxine Waters, D-Calif., said Friday. “This is what America needs. Republicans, you ought to be a part of this. But if you’re not,

New top story from Time: Latest Tests Bring Israel a Step Closer to Commercial Drones

https://ift.tt/3lyZxGe TEL AVIV, Israel — Dozens of drones floated through the skies of Tel Aviv on Monday, ferrying cartons of ice cream and sushi across the city in an experiment that officials hope provided a glimpse of the not-too-distant future. Israel’s National Drone Initiative, a government program, carried out the drill to prepare for a world in which large quantities of commercial deliveries will be made by drones to take pressure off highly congested urban roads. The two-year program aims to apply the capabilities of Israeli drone companies to establish a nationwide network where customers can order goods and have them delivered to pick up spots. [time-brightcove not-tgx=”true”] The project, now in the third of eight stages, is still in its infancy and faces many questions about security and logistics. “We had 700 test flights at the start of this year and now we are close to 9,000 flights,” said Daniella Partem, from Israel Innovation Authority, a partner in th

https://ift.tt/eA8V8J सिद्धार्थ रॉय कपूर फिल्म्स कि अगली सीरीज़ विलियम डेलरिम्पल कि बेस्टसेलर, 'द एनार्की: पर आधारित होगी

सिद्धार्थ रॉय कपूर के प्रोडक्शन 'रॉय कपूर फिल्म्स' ने हालही में अवार्ड विनिंग इतिहासकार और लेखक विलियम डेलरिम्पल की बेस्ट सेलिंग हिस्टोरिकल बुक ‘द अनार्की: द रिलेंटलेस राइज़ ऑफ़ द ईस्ट इंडिया कंपनी' के आधिकारिक राइट्स हासिल कर इसे सीरीज़ के from टेलीविजन की खबरें | Television News in Hindi | TV Serials Update in Hindi – FilmiBeat Hindi http:/hindi.filmibeat.com/television/siddharth-roy-kapoor-next-web-series-will-be-based-on-anarchy-090499.html?utm_source=/rss/filmibeat-hindi-television-fb.xml&utm_medium=23.11.231.156&utm_campaign=client-rss

New top story from Time: Japan’s Prime Minister Abe Reportedly Stepping Down Over Health Concerns

https://ift.tt/32yNoGh (TOKYO) — Japan’s Prime Minister Shinzo Abe has expressed his intention to step down due to his declining health, according to reports Friday by NHK and other Japanese media. The Prime Minister’s Office said the report could not be immediately confirmed, but that Abe was believed to be meeting top ruling officials at the party headquarters. The Liberal Democratic Party spokesman did not answer the phone. Concerns about Abe’s chronic health issues, simmering since earlier this summer, intensified this month when he visited a Tokyo hospital two weeks in a row for unspecified health checkups. Abe, whose term ends in September 2021, is expected to stay on until a new party leader is elected and formally approved by the parliament. He had abruptly resigned from his first stint in office in 2007 due to his health, which was fueling concerns about his recent condition. Abe on Monday became Japan’s longest serving prime minister by consecutive days in of

New top story from Time: Justice Department Charges 8 in Chinese Harassment Plot in U.S.

https://ift.tt/37P9856 (WASHINGTON) — The Justice Department has charged eight people with working on behalf of the Chinese government in a pressure campaign aimed at coercing a New Jersey man who was wanted by Beijing into returning to China to face charges, officials said Wednesday. The prosecution, which Justice Department officials said was the first of its kind, accuses the defendants of participating in a Chinese government operation known as “Fox Hunt” that was ostensibly created to help Beijing locate fugitives abroad but that U.S. officials say in practice relied on intimidation and bullying to go after dissidents and political opponents. Five of the eight, including an American private investigator who was hired as part of the effort, were arrested Wednesday. The other three are believed to be in China. All eight were charged with conspiring to act as illegal agents for China in a case filed in federal court in Brooklyn. “Without coordination with our governmen

New top story from Time: The Reopening of Springsteen on Broadway Brought Broadway Out of Hibernation—and One Packed Theater Into a Brighter Future

https://ift.tt/3A6wS0a The city that never sleeps is still a little sleepy, unsure of how to move its joints and muscles as it awakens from its forced hibernation . Although Times Square is now almost as brightly lit as ever, it’s remarkably hard to find a bar that will serve a drink after 11 p.m. On a late-June Saturday night, Eighth Ave. around 42nd Street was vibrating with young people: guys imported from the outer boroughs and beyond in their baggy, rumpled shorts, young women in elastic spangled mini-dresses making their first outing after a year lying in a drawer, men in mardi gras beads and the tiniest of tank tops ready to make the most of the final days of Pride month . Yet it was hard to know exactly what all these people were doing there, other than taking their place in a kind of Brownian-movement minuet under the cheerfully garish lights. Because Times Square cannot be itself while Broadway—meaning not the actual street but the constellation of live shows around

More 20 MPH Streets Coming Soon Near You

More 20 MPH Streets Coming Soon Near You By Christine Osorio Last October when California Assembly Bill 43 (Friedman) was signed into law, we posted a blog about which gave cities new flexibility in setting speed limits—specifically reducing them. “Speed Management,” a reference that is still in development, focused on reducing speed limits in key business activity districts where at least 50% are dining or retail. Since the bill went into effect last month, we’ve already started lowering speed limits by 5 MPH (from 25 MPH to 20 MPH) in the first phase of approved corridors, four of which have been implemented:  San Bruno Avenue, from Silver to Paul avenues (Completed January 2022)  Polk Street, from Filbert to Sutter streets (Completed January 2022)  Haight Street, from Stanyan Street to Central Avenue and from Webster to Steiner streets (Completed February 2022)  24th Street, from Diamond to Chattanooga streets and from Valencia Street to San Bruno Avenue (Completed

New top story from Time: Department of Homeland Security Warns of Politically Motivated Violence

https://ift.tt/2NINiIA WASHINGTON — The Department of Homeland Security issued a national terrorism bulletin Wednesday warning of the lingering potential for violence from people motivated by antigovernment sentiment after President Joe Biden’s election, suggesting the Jan. 6 riot at the Capitol may embolden extremists and set the stage for additional attacks. The department did not cite any specific plots, but pointed to “a heightened threat environment across the United States” that it believes “will persist” for weeks after Biden’s Jan. 20 inauguration. It is not uncommon for the federal government to warn local law enforcement through bulletins about the prospect for violence tied to a particular event or date, such as July 4. But this particular bulletin, issued through the department’s National Terrorism Advisory System, is notable because it effectively places the Biden administration into the politically charged debate over how to describe or characterize acts

In-Person Pride Parade & Celebrations Return This Month!

In-Person Pride Parade & Celebrations Return This Month! By Pamela Johnson The SFMTA is happy to join San Francisco Pride celebrations when they return to in-person events this month as the city continues its recovery from the pandemic. This year’s theme is “Love will Keep Us Together.” The Trans March is happening on Friday, June 24 and the Pride Parade is on Sunday, June 26. SFMTA staff are, of course, an important part of the LGBTQIA+ community that keeps SF moving with Pride. Pride is an opportunity for us to demonstrate our continued support of the LGBTQIA+ community, promoting our core values of respect, inclusivity and integrity.  History/Background of SF Pride   San Francisco had its first Pride celebration in 1970. For more than three decades the LGBTQIA+ community and their allies have been moving San Francisco forward to become a better, safer, and more equitable world for the LGBTQIA+ community and the city a better place for people to live, work and enjoy.    His

New top story from Time: ‘Do Not Hold Grudges.’ Joe Biden’s Notes Reveal Talking Points About Kamala Harris

https://ift.tt/2X4natB (WILMINGTON, Del.) — Joe Biden was uncharacteristically tight-lipped on Tuesday about the final stretch of his search for a vice president. But the presumptive Democratic presidential nominee seemed prepared to talk about at least one leading contender: California Sen. Kamala Harris. As he took questions from reporters on Tuesday, Biden held notes that were captured by an Associated Press photographer. Harris’ name was scrawled across the top, followed by five talking points. “Do not hold grudges.” “Campaigned with me & Jill.” “Talented.” “Great help to campaign.” “Great respect for her.” Those are all observations Biden has made about Harris before. But they take on new significance following a recent Politico report that one of Biden’s closest friends and a co-chair of his vice presidential vetting committee, former Connecticut Sen. Chris Dodd, still harbors concerns about Harris’ tough debate stage performance and that she hasn’t expressed reg